Pune, India, Sept. 09, 2021 (GLOBE NEWSWIRE) -- The IVD Market size was USD 82.81 billion in 2020. The market is projected to grow from USD 96.13 billion in 2021 to USD 153.67 billion in 2028 at a CAGR of 6.9% during the 2021-2028 period. This vital information is published by Fortune Business Insights™ in its report titled, “IVD Market, 2021-2028.” As per our research, the intensifying demand for point-of-care IVD devices and the growing adoption of these apparatuses have been contributory in navigating the growth of the market. Additionally, as per the British In-vitro Diagnostic Association, in-vitro diagnostic tests contribute to almost 70% of clinical judgments. Anyhow, out of the financial plan of NHS, below 1% is spent on the advancement of novel and innovative IVD products every year. This is anticipated to reinforce the IVD market growth during the forecast period.
Industry Development
April 2021: Siemens Healthineers successfully concludes the acquisition of Varian Medical Systems, Inc. This acquisition is expected to fortify the company’s spot as a universal partner in healthcare.
Request a Sample Copy of the Research Report:
Rising Diagnostic Processes amid COVID-19 Pandemic to Impact Market Affirmatively
The market observed a sluggish growth in terms of incomes in 2020, owing to the varied impact of covid-19 on several industries. The COVID-19 pandemic has raised the demand for molecular diagnostics methods as it is utilized to detect the SARS-CoV-2 infection. Moreover, the demand for test kits was increased, and consumables for observing blood glucose levels, troponin levels, and others, among patients who were hospitalized as they were detected COVID-19 positive.
This resulted in a substantial upsurge in demand for point-of-care tests ground on serology and molecular methods universally. Key players perceived a significant rise in their incomes produced from sales of molecular tests as well as point of care tests. It is set to propel the market for in vitro diagnostics in the near future.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/in-vitro-diagnostics-ivd-market-101443
Rising Incidence of Chronic Diseases to Augment the Market Growth
The occurrence of numerous sicknesses such as genetic, cardiovascular, and neurological diseases is surging considerably. As per World Health Organization (WHO), cardiovascular diseases (CVDs) are the primary cause of death across the globe, resulting in approximately 17.9 million deaths per year. This has resulted in an upsurge in consciousness about pre-mature diagnosis among the people and a rise in routine diagnosis, which supports the general growth of the market.
Furthermore, the innovation and development of new advanced IVD products are also contributing to the amplified growth of the market. Moreover, the rising geriatric population is another factor impacting the growth of the market. As per a survey conducted by the United Nations, in 2019, 1 in 11 people in the world are above the age of 65 and is projected to surge 1 in 6 people to be above the age of 65 by 2050. This concern is likely to aid the growth of this market during the mentioned timeframe.
Have Any Query? Ask Our Experts:
https://www.fortunebusinessinsights.com/enquiry/queries/in-vitro-diagnostics-ivd-market-101443
North America to Lead Stoked by Rising Investments in R&D Activities
North America stood at USD 32.77 billion in 2020 and is anticipated to hold the maximum IVD Market share during the forecast period. A few of the vital aspects contributing to the highest share of the region involve the presence of key companies in the region coupled with the increasing R&D investments by these crucial players in order to make the development of novel and advanced products.
Europe is expected to be the second-most principal region in terms of market share. The Europe IVD Market holds a noteworthy share owing to increasing healthcare spending, developed infrastructure, and the presence of patients detected with infectious diseases and cancer in large numbers.
List of Manufacturers in the In vitro Diagnostics (IVD) Market include:
- Hoffmann-La Roche Ltd
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Sysmex Corporation
- Siemens Healthineers AG
- BD
- Seegene Inc.
- DiaSorin S.p.A
- Quest Diagnostics Incorporated
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/in-vitro-diagnostics-ivd-market-101443
Global In vitro Diagnostic Market Segmentation:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Chronic and Infectious Diseases- Key Countries/Region, 2019-2020
- Incidence of Cancer, By Key Countries, 2020
- Technological Advancements in In-vitro Diagnostics
- Key Industry Developments - Mergers, Acquisitions and Partnerships, 2020
- Introduction of New Products / Approvals (By Major Players)
- Impact of COVID-19 on IVD Market
- Global IVD Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Instruments
- Reagents & Consumables
- Market Analysis, Insights and Forecast – By Technique
- Immunodiagnostics
- Clinical Chemistry
- Molecular Diagnostics
- Point of Care
- Haematology
- Other Applications
- Market Analysis, Insights and Forecast – By Application
- Infectious Diseases
- Cardiology
- Oncology
- Gastroenterology
- Other Applications
- Market Analysis, Insights and Forecast – By End User
- Clinical Laboratories
- Hospitals
- Physician’s Offices
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Speak To Analyst:
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
