LONDON, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The comprehensive industry research on In Vitro Diagnostics (IVD) Market' published by Data Bridge Market research includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The report carefully examines the global In Vitro Diagnostics (IVD) Market, with a focus on most of the major players and their business strategies, geographical scope, market segments, product landscape and price, and cost structure. In Vitro Diagnostics (IVD) market report encompasses different industry verticals for In Vitro Diagnostics (IVD) industry such as company profile, contact details of the manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company.
Data Bridge Market Research analyses that the In vitro diagnostics (IVD) market which was USD 111.67 billion in 2021, would rocket up to USD 164.99 billion by 2029, and is expected to undergo a CAGR of 5.00% during the forecast period 2022 to 2029.
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Market Overview: -
The tests used in in vitro diagnostics are carried out on a person's blood or tissue sample. They assist in keeping a close eye on the patient's health and are used to accurately test for and diagnose diseases or any underlying issues. These diagnostic procedures can assist in determining the optimal course of treatment for each individual.
Devices are used in specialised medical facilities to carry out diagnostics since the application and management of the IVD market require technical competence. To diagnose illnesses, disorders, and infections, in vitro diagnostics (IVD) refers to the reagents, tools, and software used to analyse specimens taken from the human body, such as blood, urine, stool, tissues, and other physiological fluids. Other IVD device types employ various techniques, including immunodiagnostics, tissue diagnostics, haematological, and molecular diagnostics.
Opportunities
The growth of the market is anticipated to be fuelled by the creation of automated IVD systems for labs and hospitals to give quick, precise, and error-free diagnosis. The market is expanding as a result of the increasing number of IVD products being introduced by major companies.
Some of the major players operating in the in vitro diagnostics (IVD) market are:
- Siemens (Germany)
- General Electric (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Hitachi Ltd. (Japan)
- FUJIFILM Holdings Corporation (Japan)
- Carestream Health (U.S.)
- Konica Minolta Business Solutions India Private Limited (Japan)
- Hologic, Inc. (U.S.)
- SouthwestMedical (U.K.)
- TOSHIBA CORPORATION (Japan)
- Sanrad Medical Systems Private Limited (India)
- ONEX Corporation (Canada)
- Shimadzu Corporation (Japan)
- ESAOTE SPA (Italy)
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Critical Insights Related to the In Vitro Diagnostics (IVD) Included in the Report:
- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in Global In Vitro Diagnostics (IVD) Market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
In Vitro Diagnostics (IVD) Market Dynamics
- Increasing awareness of medicine
Rising awareness of customised medicine and expanding use of point-of-care testing are two other main reasons propelling the in vitro diagnostics/IVD market, among others. Fully automated devices and laboratory automation are also important aspects accelerating market expansion.
- The rise in the importance of companion diagnostics
In addition, the market for in vitro diagnostics and IVDs will see increased growth possibilities in emerging nations, a rise in the importance of companion diagnostics, and a rise in condition-specific markers and tests over the anticipated period of 2022–2029.
- A rise in the Infectious disease
The rise in the prevalence of chronic and infectious diseases is a primary factor driving the IVD market's expansion. Chronic diseases like diabetes, cancer, cardiovascular disease, and tuberculosis are becoming more common in the contemporary business environment. Additionally, there has been a marked increase in the number of individuals with infectious disorders such STDs, respiratory illnesses, and gastrointestinal conditions (sexually transmitted diseases). The market for IVDs is driven by the demand for diagnostic tools, which is anticipated to rise as these diseases become more prevalent.
Restraints/Challenges
In vitro diagnostics/IVD market growth in the forecast period will be further hampered by changing regulatory environments and rising operational barriers associated with performing diagnostic tests. However, increasing unfavourable reimbursement scenarios and constant government regulation updates are the main factors among others that will restrain the market growth.
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Market Regional Analysis/Insights
The in vitro diagnostics (IVD) market is analysed and market size insights and trends are provided by country, technique, application, end-user and product and service as referenced above.
The countries covered in the in vitro diagnostics (IVD) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the in vitro diagnostics (IVD) market due to rising favourable government regulations, well-established diagnostic infrastructure.
Asia-Pacific is the expected region in terms of growth in vitro diagnostics (IVD) market due to rising presence of a large number of target populations along with improving healthcare infrastructure in this region.
In Vitro Diagnostics (IVD) Market Scope
By Technique
- Immunodiagnostics
- Hematology
- Molecular Diagnostics
- Tissue Diagnostics
- In vitro diagnostics (IVD)
- Others
By Application
- Infectious Diseases
- Cancer
- Cardiac Diseases
- Immune System Disorders
- Nephrological Diseases
- Gastrointestinal Diseases
- Others
By End-User
- Standalone Laboratory
- Hospitals
- Academic
- Medical Schools
- Point of Care
- Others
By Product and Service
- Reagents
- Instruments
- Software and Services
Table of Content:
Section 01: Executive Summary
Section 02: Scope of The Report
Section 03: Research Methodology
Section 04: Introduction
Section 05: Market Landscape
Section 06: Market Sizing
Section 07: Five Forces Analysis
Section 08: Market Segmentation by Technique
Section 09: Market Segmentation by Application
Section 10: Customer Landscape
Section 11: Market Segmentation by End-User
Section 12: Regional Landscape
Section 13: Decision Framework
Section 14: Drivers and Challenges
Section 15: Market Trends
Section 16: Competitive Landscape
Section 17: Company Profiles
Section 18: Appendix
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