Pune, India, June 14, 2022 (GLOBE NEWSWIRE) -- Global in vitro diagnostic devices market, According to MarketStudyReport, is expected to reach USD 124950 million in valuation by the year 2028, recording a CAGR of 6.7% over the forecast period. Rising geriatric population and increasing prevalence of chronic diseases are some of the primary growth catalysts for the overall market expansion.
Critical information in terms of regional contribution and competitive landscape are also given in the report which highlights the key revenue-generating avenues in this industry vertical. In addition, various factors of this industry are evaluated for latest developments and growth potential, followed by a granular analysis of the market size, scope, volume, and growth rate over the study period.
Chronic conditions such as cancer, tuberculosis (TB), cardiovascular disease, and diabetes are on the rise across the globe. In addition, the number of patients with infectious disorders like respiratory, gastrointestinal, and STDs has significantly increased in the recent past. This has augmented the demand for medical diagnostics, which in turn is driving global in vitro diagnostic devices market growth.
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Rising adoption of fully automated and point-of-care instruments in developed regions and increasing R&D investment to launch new IVD products are also fueling the overall market size. In addition, technological advancements in disease-specific markers and tests is likely to provide significant growth prospects in the future years. However, unfavorable reimbursement situation is expected to limit the market growth in the ensuing years.
Overview of the market segmentations
The global in vitro diagnostic devices industry is segmented into product type, application landscape, and regional terrain.
With regards to product type, the market is bifurcated into immuno diagnostics, molecular diagnostics, POCT, chemistry diagnostics, and others. Moving forward with the application spectrum, this business space is divided into laboratories, hospitals, and others.
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Highlighting the regional terrain
The regional terrain of global in vitro diagnostic devices marketplace extends to Asia-Pacific, North America, Latin America, the Middle east & Africa, and Europe. Among these, the Europe market is poised to amass commendable gains in the ensuing years, with Germany standing tall in terms of revenue hierarchy.
Summarizing the competitive landscape
The leading companies operating in the global in vitro diagnostic devices market are LG Chem Ltd., F. Hoffmann-La Roche AG, BioSino, Mindray Bio-Medical Electronics Co. Ltd., Beijing Leadman Biochemistry, Abbott Laboratories, DAAN Gene Co. Ltd., Shanghai Kehua Bio-engineering Co. Ltd. (KHB), Wondfo Biotech Co. Ltd., Myriad Genetics Inc., Qiagen, Johnson and Johnson, Hologic Inc., Bio-Rad Laboratories Inc., Becton Dickinson & Co., Ortho Clinical Diagnostics, bioMérieux S.A., Sysmex Corporation, Thermo Fisher Scientific, Siemens Healthineers, and Danaher Corporation.
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Global In Vitro Diagnostic devices market by product Type (Revenue, USD Million, 2017-2022)
- Molecular Diagnostics
- Immuno Diagnostics
- POCT
- Chemistry Diagnostics
- Others
Global In Vitro Diagnostic devices market by Application segment (Revenue, USD Million, 2017-2022)
- Laboratory
- Hospitals
- Others
Global In Vitro Diagnostic devices market by Regional Analysis (Revenue, USD Million, 2017-2022)
Americas
- United States
- Mexico
- Canada
- Brazil
Asia Pacific
- China
- Korea
- India
- Japan
- Australia
- Southeast Asia
Europe
- Germany
- UK
- Italy
- France
- Russia
Middle East & Africa
- Israel
- Turkey
- Egypt
- South Africa
- GCC Countries
Global In Vitro Diagnostic devices market by Competitive Arena (Revenue, USD Million, 2017-2022)
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Danaher Corporation
- Siemens Healthineers
- Thermo Fisher Scientific
- Sysmex Corporation
- bioMérieux S.A.
- Ortho Clinical Diagnostics
- Becton Dickinson & Co.
- Bio-Rad Laboratories Inc.
- Hologic Inc.
- Johnson and Johnson
- Qiagen
- Myriad Genetics Inc.
- Wondfo Biotech Co., Ltd
- Shanghai Kehua Bio-engineering Co., Ltd. (KHB)
- DAAN Gene Co., Ltd.
- Beijing Leadman Biochemistry
- Mindray Bio-Medical Electronics Co., Ltd.
- BioSino
- LG Chem Ltd.
Table of Content:
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
2 Executive Summary
2.1 World Market Overview
2.1.1 Global In Vitro Diagnostic Devices Market Size 2017-2028
2.1.2 In Vitro Diagnostic Devices Market Size CAGR by Region 2017 VS 2022 VS 2028
2.2 In Vitro Diagnostic Devices Segment by Type
2.3 In Vitro Diagnostic Devices Market Size by Type
2.4 In Vitro Diagnostic Devices Segment by Application
2.5 In Vitro Diagnostic Devices Market Size by Application
3 In Vitro Diagnostic Devices Market Size by Player
3.1 In Vitro Diagnostic Devices Market Size Market Share by Players
3.2 Global In Vitro Diagnostic Devices Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 In Vitro Diagnostic Devices by Regions
4.1 In Vitro Diagnostic Devices Market Size by Regions (2017-2022)
4.2 Americas In Vitro Diagnostic Devices Market Size Growth (2017-2022)
4.3 APAC In Vitro Diagnostic Devices Market Size Growth (2017-2022)
4.4 Europe In Vitro Diagnostic Devices Market Size Growth (2017-2022)
4.5 Middle East & Africa In Vitro Diagnostic Devices Market Size Growth (2017-2022)
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global In Vitro Diagnostic Devices Market Forecast
10.1 Global In Vitro Diagnostic Devices Forecast by Regions (2023-2028)
10.2 Americas In Vitro Diagnostic Devices Forecast by Country (2023-2028)
10.2.1 United States In Vitro Diagnostic Devices Market Forecast
10.2.2 Canada In Vitro Diagnostic Devices Market Forecast
10.2.3 Mexico In Vitro Diagnostic Devices Market Forecast
10.2.4 Brazil In Vitro Diagnostic Devices Market Forecast
11 Key Players Analysis
Related Report:
In vitro Diagnostics Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The in vitro diagnostics market is anticipated to record considerable growth by 2027 owing to increasing incidences of chronic and infectious diseases across the globe. In vitro diagnostic (IVD) tests are performed on samples collected from the human body, such as blood samples, swabs of mucus from the back of the throat or inside the nose from a fingerstick or vein. These tests can detect diseases or other disorders and help monitor a person's overall health to cure, treat, or prevent diseases. Recently, in vitro diagnostics have been an indispensable method of diagnosing and managing COVID-19 viral infections, which has fueled industry adoption during the pandemic. From the regional perspective, the Latin America in vitro diagnostics market was valued at over USD 6 billion in 2020 and is poised to grow at a substantial pace through the assessment timeframe. The developing medical infrastructure, coupled with increasing demand for in vitro diagnostics in LATAM, is likely to drive regional market expansion.
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