Market Research Report
U.S. In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product (Reagents, Instruments), By Technology (Immunoassay, Molecular Diagnostics), By Application, By End-use, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||977697|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|U.S. In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product (Reagents, Instruments), By Technology (Immunoassay, Molecular Diagnostics), By Application, By End-use, And Segment Forecasts, 2020 - 2027|
|Published: December 1, 2020||Content info: 100 Pages||
The U.S. in vitro diagnostics market size is expected to reach USD 37.35 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2020 to 2027. The prevalence of various diseases such as cancer, autoimmune diseases, and inflammatory conditions is increasing, which is expected to drive the market. For instance, according to the American Cancer Society, about 1.8 million are estimated to be new cancer cases and around 606,520 individuals are projected to die in 2020. Breast, prostate, colorectal, lung, stomach, and liver cancers are the most common types.
In addition, cell counts are performed manually; however, companies are introducing automated instruments to reduce manual work and provide quick and accurate results. For instance, in July 2018, Sysmex America, Inc. entered into a partnership with Advanced Instruments to introduce a novel GloCyte Automated Cell Counter System that is used to detect cerebrospinal fluid cell count. As per this agreement, Sysmex America, Inc. would be the exclusive distributor of the system in the U.S.
Increasing use of approved blood-gas analyzers to monitor respiratory conditions is expected to fuel market growth. For instance, in March 2020, Siemens Healthineers AG received the U.S. FDA approval for the RapidPoint 500e blood gas analyzer. This blood gas analyzer can be used for critically ill patients under acute care. Furthermore, it is anticipated to support COVID-19 response efforts due to its ability to test blood gas, which, in turn, is expected to help manage infected patients by aiding the monitoring of their respiratory conditions.
An increase in the initiatives by organizations to improve patient outcomes using cost-effective and rapid diagnostic techniques to help fight antibiotic resistance is expected to fuel market growth. For instance, in April 2019, The University of Antwerp, Wellcome Trust, and bioMerieux, together launched Value-Dx-an Innovative Medicines Initiative (IMI) project-that was initiated by six IVD companies to fight against antimicrobial resistance. The aim of this project was to transform clinical practice and achieve better patient outcomes by implementing new diagnostic technologies.