Pune, Sept. 20, 2018 (GLOBE NEWSWIRE) -- The global market was valued at $ 54,414.1 million in 2014 and is likely to garner $ 91.3 billion in 2025, growing at a CAGR of 4.46% during the forecast period according to Progressive Markets report, In Vitro Diagnostics Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025.
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The report provides a comprehensive review of the in vitro diagnostics market for the historic period, 2014-2017 and the forecast period, 2018-2025. It incorporates the market size and share, market drivers and restraints, market outlook, key segments, market trends, Porters analysis, and emerging player profiles. The report is a useful resource for market players, investors, and new entrants as it helps them take informed business decisions based on their goals. The data in the report is a result of an extensive primary and secondary market research. Research methodology is offered in the study to show the methods employed to gather and validate data.
The report provides an executive summary of the global in vitro diagnostics industry to help market players, new entrants, and investors understand the overall market scenario and devise strategies for growth and sustenance. Key findings are outlined in the study to assist market players to determine investment feasibility. Market attractiveness helps measure the potential value of the market. The competitive landscape is offered to help industry players determine the competitive environment within the industry and take steps to gain a competitive edge.
The market landscape of the global in vitro diagnostics market is provided in terms of the growth drivers, restraints and challenges, market share analysis, and Porters analysis. The drivers and restraints helps understand the growth and slowdown of the market. The factors fueling the market growth include the growing incidences of chronic and infectious diseases as well as the rise in geriatric population. In addition, the awareness of rare diseases and the increase in applications of personalized medicines support the growth of the IVD industry. Moreover, the rise in demand for technologically advanced diagnostic devices and growth in disposable income of consumers create opportunities for industry growth. Technological advancements for the development of high sensitivity point-of-care (POC) hematology testing would further boost the market growth. Nonetheless, hostile reimbursement policies and stringent government regulations are expected to impede the growth in the IVD industry.
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The report offers a detailed segmentation of the global in vitro diagnostics market based on product type, technique, end users, application, and geography. Based on product type, the market is divided into reagents, instruments, and services & software. The instruments segment is likely to grow at a CAGR of 5.94% during the forecast period. The technique segment is classified as blood testing, hematology, immunodiagnostics, molecular diagnostics, clinical chemistry, tissue diagnostics, and other clinical techniques. The hematology segment is likely to grow at a CAGR of 5.56% during the forecast period. By application, the industry is divided into infectious diseases, cancer, cardiac diseases, immune system disorders, gastrointestinal diseases, nephrological diseases, and other indications. The infectious diseases segment garnered $16,207.3 million in 2017. The cancer sector is likely to garner $14,816.3 million in 2025, growing at a CAGR of 6.42% during the forecast period. By end-users, the market is categorized into standalone laboratory, hospitals, point of care, academics & medical schools, and others. The point of care testing is likely to grow at a CAGR of 5.13% during the forecast period. The regional breakdown and detailed market analysis of each of the segments are included for regions such as North America, Asia-Pacific, Europe, and LAMEA.
The report provides an extensive analysis of the key players operating in the global in vitro diagnostics market. A business overview for each player is provided in the report to help market players and investors gain a comprehensive understanding of the existing competition and determine investment suitability. Furthermore, financial segments of each player are offered in the study. Recent developments by them are also discussed. Key market players noted in the study include Affymetrix Inc., Alere Inc., Biomerieux, Danaher Corporation, Roche Diagnostics, Becton Dickinson and Company, Bio-Rad Laboratories, Inc., Abbott Laboratories, Bayer AG., Arkray, Inc., Sysmex Corporation, Johnson and Johnson, and Siemens AG