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In-Vitro Diagnostics Market by Product & Service, Technology, Application End User - Global Forecast to 2025

In-Vitro Diagnostics Market by Product & Service, Technology, Application End User - Global Forecast to 2025

  • November 2020
  • 351 pages
  • ID: 4436645
  • Format: PDF
  • MarketsandMarkets

Summary

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The global in-vitro diagnostics market size is projected to reach USD 96.0 billion by 2025 from USD 84.5 billion in 2020, at a CAGR of 2.6% during the forecast period. Market growth is attributed to the rising per capita income in developed and developing countries and technological advancements introduced in the in-vitro diagnostic devices.

By technology, within the IVD market, immunoassays segment holds the largest share in the forecast period.
Based on technology, the in vitro diagnostics market has been segmented into immunoassays, clinical chemistry, molecular diagnostics, microbiology, hematology, urinalysis, coagulation and others.Immunoassays accounted for the largest share of the market in 2019.

Significant market share can be associated with increasing investments of leading players such as Roche Diagnostics, Danaher Corporation, Abbott Laboratories, and others in developing superior quality immunoassays. These immunoassays are highly reliable and provide healthcare professionals with an accurate diagnosis that positively impacts the segmental growth.
By application, the oncology segment is expected to grow at the fastest rate during the forecast period (2020-2025)
Based on application, the in vitro diagnostics market has been segmented into infectious disease, oncology, diabetes, cardiology, drug testing, HIV/AIDS, auto-immune diseases, nephrology and others.The oncology segment is predicted to have higher growth rate as compared to other applications due to increasing prevalence of cancer in developed as well as developing countries.

According to WHO, cancer is the second leading cause of death and there is an exponential increase in the number of cancer cases since past few years. This scenario proves beneficial for the segment growth as it increases the demand for efficient diagnostic tests, thereby, surging the overall industry growth.

North America to hold the largest share.
North America is expected to account for the largest share of the global in vitro diagnostics market in 2019.The large share of this region can primarily be attributed to the presence of a well-established base of IVD companies, high investments in the IVD devices and software, and increasing R&D expenditure.

On the other hand, the APAC is expected to witness the highest CAGR during the forecast period due to the large number of research activities, low cost of operations in APAC countries, and large elderly population base.

The breakdown of primary participants is mentioned below:
• By Company Type: Tier 1–30%, Tier 2–45%, and Tier 3–25%
• By Designation: C-level–35%, Director Level–25%, and Others–40%
• By Region: North America–35%, Europe–30%, the Asia Pacific–15%, Latin America–10%, Middle East & Africa – 10%

Research Coverage:
The report analyzes the various in vitro diagnostics products and their adoption patterns in different appliactions.It aims at estimating the market size and future growth potential of the global in vitro diagnostics market for different segments such as by products and services, technology, application, end-users and regions.

The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global in vitro diagnostics market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the global in vitro diagnostics market
• Market Development: Comprehensive information on lucrative emerging regions, by products and services, application, technology, end-users.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global in vitro diagnostics market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and services offered by leading players in the global in vitro diagnostics market

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