According to a new report published by UnivDatos Markets Insights, the In-Vitro Diagnostics Market was valued at more than USD 78,750.2 million in 2020 and is expected to grow at a CAGR of around 7.4% from 2022-2028. The analysis has been segmented into Product (Reagents and Instruments Services); Techniques (Immunoassay, Clinical Chemistry, Self-Monitoring of Blood Glucose (SMBG), Molecular Diagnostics, Hematology, Microbiology, Point-of-Care, and Hemostasis); Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disease, and Others); End-User (Hospital In-Vitro Diagnostic, Clinics & Laboratory In-Vitro Diagnostic, Home Care In-Vitro Diagnostic, Others Healthcare Facility In-Vitro Diagnostic); Usability (Disposable IVD Devices and Reusable IVD Devices); and Region/Country.
Click here to view the Report Description & TOC - https://univdatos.com/report/in-vitro-diagnostics-market-2/
The in-vitro diagnostics market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the in-vitro diagnostics market. The in-vitro diagnostics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the in-vitro diagnostics market at the global and regional levels.
Request for Sample Pages- https://univdatos.com/get-a-free-sample-form-php/?product_id=35552
Market Overview
In-vitro diagnostic tests are tests that are utilized to detect diseases and vulnerable conditions which helps in keeping track of patients as well as prevent further infections. In vitro diagnostics (IVD) include reagents, instruments, and software used to evaluate specimens such as blood, urine, stool, tissues, and other bodily fluids obtained from the human body to diagnose diseases, conditions, and infections. The rise in the prevalence of chronic and infectious diseases like diabetes, cancer, cardiovascular disease, and tuberculosis is a primary factor driving the IVD market's expansion. Additionally, there has been a marked increase in the number of individuals with infectious disorders such as STDs, respiratory illnesses, and gastrointestinal conditions which is also driving the growth of the market during the forecast period.
The Global In-vitro diagnostics Market is expected to grow at a steady rate of around 7.4% owing to a surge in the prevalence of cancer. According to GLOBOCAN, in 2020, there were about 19.3 million new cancer cases and approximately 10 million deaths. This growing number of cancer cases is expected to foster the adoption of in-vitro diagnostic tests which will drive the growth of the market. Moreover, the rising initiatives of the government and various non-profit organizations in spreading awareness regarding the prevention of cancer are expected to fuel the growth of the market. For instance, the World Health Organization’s Global Action Plan for Prevention and Control of Non-Communicable Diseases aims at decreasing premature death due to cancer, cardiovascular diseases, chronic respiratory diseases, and diabetes by around 25% by the year 2025.
Some of the major players operating in the market include Abbott; BD; BIOMÉRIEUX; Bio-Rad Laboratories, Inc.; Danaher; Johnson & Johnson Private Limited; F. Hoffmann-La Roche Ltd; Siemens Healthcare GmbH; Sysmex Corporation; Thermo Fisher Scientific.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The In-Vitro Diagnostics Market has been significantly affected during these times owing to the delay in elective surgeries during the pandemic.
The global in-vitro diagnostics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of techniques, the market is categorized into immunoassay, clinical chemistry, self-monitoring of blood glucose (SMBG), molecular diagnostics, hematology, microbiology, point-of-care, and hemostasis. Among these, the immunoassay category held a significant share of the market in 2020. This is mainly due to technological advancements, increasing awareness about personal health, and increase in awareness pertaining to benefits associated with these devices.
· Based on application, the in-vitro diagnostics market has been classified into infectious disease, diabetes, oncology, cardiology, nephrology, autoimmune disease, and others. The infectious disease category is to witness higher adoption of in-vitro diagnostics during the forecast period. This is mainly due to chronic diseases including heart disease, cancer, stroke, Chronic Obstructive Pulmonary Disease (COPD), and diabetes. In-vitro diagnostics play an enormous role in the diagnosis of chronic diseases. It has a huge application in cardiology, oncology, nephrology, diabetes, infectious disease, and autoimmune disease diagnosis among other applications. For instance, according to the American Heart Association, nearly half of adults in the U.S. have some type of CVD. By 2035, it is projected that more than 135 million adults or 45.1% of the U.S. population are projected to have some form of CVD.
Have a Look at the Chapters - https://univdatos.com/report/in-vitro-diagnostics-market-2/
In-Vitro Diagnostics Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the in-vitro diagnostics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The use of IVD will lead to the early diagnosis of diseases. Moreover, healthcare spending is highest in this region driving the adoption of healthcare technology. Growing demand for in-vitro diagnostics in the region is mainly due to the increase in the aging population, escalation in the incidence and prevalence of chronic diseases, growing adoption of point-of-care diagnostics, and medical and customer needs are the major drivers for this market growth.
The major players targeting the market include
· Abbott
· BD
· BIOMÉRIEUX
· Bio-Rad Laboratories, Inc.
· Danaher
· Johnson & Johnson Private Limited
· F. Hoffmann-La Roche Ltd
· Siemens Healthcare GmbH
· Sysmex Corporation
· Thermo Fisher Scientific
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the In-Vitro Diagnostics Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the in-vitro diagnostics market?
• Which factors are influencing the in-vitro diagnostics market over the forecast period?
• What are the global challenges, threats, and risks in the in-vitro diagnostics market?
• Which factors are propelling and restraining the in-vitro diagnostics market?
• What are the demanding global regions of the in-vitro diagnostics market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.