Market Research Report
In Vitro Diagnostics Market by Product & Service, Technique, Application, and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027
|Published by||Allied Market Research||Product code||951341|
|Published||Content info||381 Pages
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|In Vitro Diagnostics Market by Product & Service, Technique, Application, and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027|
|Published: June 1, 2020||Content info: 381 Pages||
In Vitro Diagnostics Market by Product & Service (Reagents, Instruments, and Software & Services), Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Others), Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Others), and End User (Standalone Laboratory, Hospitals, Academic & Medical Schools, Point of Care, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global in vitro diagnostics market (IVD) was valued at $67,111 million in 2019, and is projected to reach $91,093 million at a CAGR of 4.8% from 2020 to 2027.
In vitro diagnostics (IVD) are defined as medical devices and reagents which are used to examine specimens such as blood, urine, stool, tissues, and other body fluids, which are derived from human body to detect diseases, conditions, and infections. The tests can be performed in stand-alone laboratory, hospital-based laboratory, and point-of-care centers. Some significant technologies incorporated in in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology, and mass spectrometry, which are used for test sample preparation. Moreover, other techniques that are used to perform in vitro diagnosis involve clinical chemistry, tissue diagnostics, immunodiagnostics, hematology, and others. For instance, in clinical chemistry various tests are performed in laboratory such as liver panel test, lipid profile, thyroid function test, and others.
Furthermore, a thyroid function test is performed by collecting blood from a patient, which is then tested to check the level of thyroid stimulating hormone (TSH) in blood. Similarly, others such as polymerase chain reaction (PCR) are used to detect the presence of infectious diseases such as HIV, hepatitis, and others. In addition, constant innovations related to IVD products, service designs, and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines. For instance, some products that are used to perform various in vitro diagnostic tests using various technologies involve real time PCR detection systems, immunoassay systems, and others.
The major factor that contributes to the growth of the in vitro diagnostic market include surge in number of in vitro diagnostic tests, which is attributable to rise in incidences of chronic and infectious diseases. Furthermore, growth in geriatric population, which is prone to immunological disorders is another major factor that boosts the growth of the market. Moreover, rise in use of personalized medicines in treatment of various chronic diseases such as cancer also fuels the growth of the market. In addition, increase in technological advancements associated with in vitro diagnostic products, technologies, and software & services boosts the market growth. However, stringent government regulations and unfavorable reimbursement policies are anticipated to restrict the growth of the in vitro diagnostics market. On the contrary, high growth rate exhibited by developing economies present lucrative opportunities for key players in the in vitro diagnostics market during the forecast period.
The report segments the market across into product & service, technique, application, end user, and region. On the basis of product & service, the market is segmented into reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELSIA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others.
The clinical chemistry segment is also further divided basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, specialty chemicals, and others.
On the basis of application, the market segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others. On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players in the in vitro diagnostics market are Abbott Laboratories, Becton, Dickinson and Company, bioMerieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.
List of key players profiled in the report: