In Vitro Diagnostics (IVD) Market - Global Industry Analysis, Growth, Trends, Opportunities, Size, Share and Forecast, 2015 - 2022
In-Vitro Diagnostics (IVD) provides critical information about the physiological and pathological state of body for effective health and drug/therapy monitoring. Global In-Vitro diagnosis market was valued at $49.3 billion 2012 and is estimated to grow at a CAGR of 7.5% during 2012-2020. Increasing ageing population and rising cases of infectious diseases and chronic diseases such as cardiovascular diseases, diabetes, cancer, and sexually transmitted diseases are significant growth drivers of this market. Besides this, escalating health expenditure and increasing demand for advanced and automated diagnostics technologies are likely to drive the In-Vitro diagnostics market.However, on the other hand, reimbursement issues and the existence of ambiguity in the regulatory environment are restraints for this market.