Global In-Vitro Diagnostics (IVD) Market: Industry Analysis & Outlook (2017-2021)
Diagnosis is the identification of the nature and cause of a certain phenomenon. It involves two different types of testing method: in vivo and in vitro diagnostics. In-vitro diagnostics (IVDs) tests are defined as tests executed outside a patient’s body which put analytical instruments, devices, reagents, calibrators and systems to use for checking of health status or diagnosing diseases. Purpose for doing the IVD test is to prevent, effectively cure and mitigate any kind of risk and for post-treatment intensive care diseases and infections. IVD products are precisely designed and produced for collecting samples derived from the human body and scrutinizing them outside the human body.
The global IVD market is segmented on the basis of product, technology used and test location. On the basis of product, this market can be divided into three sub segments; reagents, analytical instruments and accessory products. By technologies employed, it can be segmented into various sub segments; immunochemistry, SMBG, POCT, molecular diagnostics, clinical chemistry, microbiology, hematology and others. Further, depending upon test location, the market can be divided into three sub segments; labs, POC and self-test.
Growth of the global IVD market is driven by several factors including rapid occurrence of infectious diseases, increasing diabetic patient base, and surge in incidences of chronic ailments. Further, growing geriatric population, rising GDP per capita and increasing healthcare expenditure per capita will act as a catalyst for market growth. Owing to the suitable demographical changes and rising disposable income coupled with improving basic infrastructure, developing regions such as Asia-Pacific and Latin America are expected to experience robust growth. However, the market growth prospects could be hindered by lack of customer adoption, lack of proper facilities and infrastructure and strict government regulations.
The report “Global In-Vitro Diagnostics (IVD) Market: Industry Analysis & Outlook (2017-2021)” analyzes the development of this market, with focus on the North America, EMEA, Asia-Pacific and Latin America markets. The major trends, growth drivers as well as issues faced by the market are discussed in detail in this report. The four major players: Siemens AG., Roche Holdings AG., Abbott Laboratories and Danaher Corp. are being profiled along with their key financials and strategies for growth.