Market Research Report
U.S. In Vitro Diagnostics Market with COVID-19 Impact Analysis, By Product, By Test Type, By Application, By End User and By Region - Size, Share, & Forecast from 2021-2027
|Published by||AnalystView Market Insights||Product code||997996|
|Published||Content info||234 Pages
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|U.S. In Vitro Diagnostics Market with COVID-19 Impact Analysis, By Product, By Test Type, By Application, By End User and By Region - Size, Share, & Forecast from 2021-2027|
|Published: March 1, 2021||Content info: 234 Pages||
The global U.S. In Vitro Diagnostics market was valued at USD 36.0 billion in 2020, growing with 5.0% CAGR during the forecast period, 2021-2027.
In-vitro diagnostics are the type of medical devices & consumables which are utilized to perform in vitro tests for various biological samples. The in-vitro diagnostic products can be reagents, instruments, or any system that is used for the diagnosis of disorders.
The U.S. in-vitro diagnostics market is estimated to witness significant growth in the next few years. The rapid demand for testing due to the COVID-19 pandemic is a key factor boosting the market growth. In addition, the growing trend of automated in-vitro diagnostic systems for laboratories & hospitals to provide accurate, efficient, and error-free diagnoses is expected to spur market growth. Further, the rising older adult population is also contributing to market growth. According to the United Nations, the number of individuals aged 80 years & above is projected to rise by threefold from 137.0 million in 2017 to 425.0 million by 2050. Thus, the increasing geriatric population with a chronic disorder is projected to foster the demand for in-vitro diagnostics.
Furthermore, the increasing surge of COVID-19 cases has significantly impelled the diagnostics industry into action, with a focus on developing novel and fast diagnostics kits for detection. Moreover, the rising prevalence of various diseases such as autoimmune diseases, cancer, and inflammatory conditions is expected to promote market growth. For example, according to the American Cancer Society, in 2018, around 1.70 million new cancer cases were registered.
The U.S. in-vitro diagnostics market is segmented into product, test type, application, and end-user segments. Based on product, the reagents segment held the largest revenue share of over 60.0% in 2019. By test type, the immunodiagnostics segment is estimated to dominate during the forecast period. By application, the infectious diseases segment held the largest revenue share in 2019.
The increasing use of POC (Point-of-care) diagnostics, developed technologies, increasing awareness, and growing acceptance of personalized medicines is surging regional growth. The increasing government healthcare expenditure and higher prevalence of chronic disorders such as cancer, heart diseases, asthma, and diabetes, along with COVID -19 is augmenting the market growth in the U.S.
The U.S. in vitro diagnostics industry is highly competitive in nature. The market is dominated by a few players including Becton, Dickinson and Company, Abbott Laboratories, and Danaher Corporation. Key companies are adopting strategies actions such as new product development, strategic mergers & acquisitions, and collaboration to expand their business. For instance, in January 2019, Abbott has acquired Cephea Valve Technologies Inc., a medical device company to expand its product portfolio.
Key features of the study:
This proposed research study on U.S. In Vitro Diagnostics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for U.S. In Vitro Diagnostics market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the U.S. In Vitro Diagnostics market
Impact of COVID-19 on U.S. In Vitro Diagnostics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on U.S. In Vitro Diagnostics market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the U.S. In Vitro Diagnostics market, we have also included competitive landscape and key innovator analysis for the U.S. In Vitro Diagnostics market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the U.S. In Vitro Diagnostics market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the U.S. In Vitro Diagnostics market on global as well as regional level.
The global U.S. In Vitro Diagnostics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET KEY PLAYERS
Becton, Dickinson and Company
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific Inc.
Siemens Healthcare GmbH
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET, BY PRODUCT
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET, BY TEST TYPE
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET, BY APPLICATION
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET, BY END USER
Hospitals and Clinics
GLOBAL U.S. IN VITRO DIAGNOSTICS MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures