Raipur, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the In Vitro Diagnostics Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the in vitro diagnostics market is driven by a host of factors, some of which are noted below:
- High prevalence of chronic and infectious diseases.
- The rapid development of diagnostic kits for the diagnosis of COVID-19 by key companies.
- The growing demand for IVD kits and reagents.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
In Vitro Diagnostics Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Test Type (Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics, Hematology, and Others),
- By Product Type (Instruments, Reagents, and Others),
- By Usability Type (Disposable IVD Devices and Reusable IVD Devices),
- By Application Type (Infectious Disease, Diabetes, Cancer/Oncology, Cardiology, Autoimmune Disease, Nephrology, and Others),
- By End-User Type (Diagnostic Laboratories, Hospitals and Clinics, and Others),
- By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
In Vitro Diagnostics Market Insights
Market Trends by Test Type
The Molecular Diagnostics segment accounted for the largest market share of >37.5% in 2021 and is projected to grow at a healthy CAGR during the forecast period.
The market is segmented into Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics, Hematology, and Others.
Market Trends by Product Type
The Reagents segment accounted for the largest market share of >64.50% in 2021 and is projected to grow at a healthy CAGR during the forecast period.
The market is segmented into instruments, reagents, and others. Increasing need for reagents to meet the growing demand for diagnostics across the world, for the diagnosis of COVID-19 infection.
Market Trends by End-User Type
The Diagnostic Laboratories segment accounted for the largest market share of >37.50% in 2021 and is projected to grow at a healthy CAGR during the forecast period.
The market is segmented into Diagnostic Laboratories, Hospitals and Clinics, and Others. Major growth factors of the laboratory segment are the growing demand for affordable services, technological advancements, and a rapid increase in awareness about personalized medicines.
Market Trends by Application Type
The Infectious Disease segment accounted for the largest market share of >59% in 2021 and is projected to grow at a healthy CAGR during the forecast period.
The market is segmented into Infectious Disease, Diabetes, Cancer/Oncology, Cardiology, Autoimmune Disease, Nephrology, and Others. The detection of microorganisms or disease-causing bacteria is facilitated by IVDs. HIV/AIDS, TB, hepatitis, and pneumonia are the most frequently occurring life-threatening illnesses.
Which region offers the best opportunity and growth?
North America accounted for the largest market share of >41.50% in 2021 and is projected to grow at a healthy CAGR during the forecast period.
It is estimated to be the dominating region in the market over the forecast period on account of its well-established healthcare industry, rising prevalence of chronic diseases in the region, presence of some of the market's major players, and an increasing number of product launches. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
COVID-19 Impact on the In Vitro Diagnostics Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2595/In-Vitro-Diagnostics-Market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
- Abbott Laboratories
- Arkray Inc.
- Becton, Dickinson, and Company
- Biomerieux SA
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Siemens Healthcare GmbH
- Sysmex Corporation
- Thermo Fischer Scientific Inc.
What deliverables will you get in this report?
- In-depth analysis of the in vitro diagnostics market
- Detailed market segmentation.
- Competitive landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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