Pune, Sept. 22, 2020 (GLOBE NEWSWIRE) -- According to the report, the global in vitro diagnostics market was valued at USD 61.22 Billion in 2018 is predicted to reach USD 87.11 Billion by 2026, exhibiting a CAGR of 4.5% during the forecast period.
As per the report published by Fortune Business Insights, the reagents and consumables segment is expected to hold maximum shares in the global-vitro diagnostics market during the forecast period owing to the increasing research and development activities for the diagnosis of chronic diseases. In addition, the escalating demand for self-test and point-of-care devices will subsequently increase the demand for reagents and consumables segment, which, will, in, turn boost the global In vitro Diagnostics Market revenue during the forecast period.
The report offers an elaborative overview of the trends prevailing in the in-vitro diagnostics industry. It also includes exclusive data which provides information about the In vitro Diagnostics Market dynamics and competitive landscape. The report gives weightage to the segmentation in the global In vitro Diagnostics Market and provides proficient facts and figures besides offering informative tools to assist companies in their overall business growth.
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Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
Increasing Prevalence of Chronic and Infectious Disease Will Enable Growth
The launch of diagnostic and rapid testing tools by leading market players will propel growth of the global In vitro Diagnostics Market. For instance, Thermo Fisher Scientific launched Phadia 200 for diagnosis of allergy & autoimmune conditions. The launch of Phadia 200 is anticipated to increase the revenue of the company.
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According to the report, the reagents and consumables segment will account for a major portion in the global In vitro Diagnostics Market during the forecast period owing to the adoption of self- test and point-of-care devices. Furthermore, the instrument segment is likely to grow at a moderately slower pace during the forecast period. Rising technological advancement is predicted to aid growth of the segment.
Launch of Altostar Molecular Diagnostics Workflow Will Boost Growth
Altona Diagnostics GmbH, molecular diagnostic testing solutions company launched a CE-IVD marked AltoStar Molecular Diagnostics Workflow. AltoStar Molecular Diagnostics a flexible and efficient automatic system that automates the entire workflow from sample preparation up to analysis.
Fortune Business Insights states the launch of CE-IVD marked AltoStar Molecular Diagnostics Workflow is expected to boost the In vitro Diagnostics Market revenue. Furthermore, the oncology segment is likely to grow at a considerable rate during the forecast period. Rising adoption and availability of advanced home care kits such as fecal occult blood test (FOBT) for diagnosis of colon cancer in homecare settings is one of the major factor likely to fuel demand for the oncology segment, which, will, in turn, uplift the global In vitro Diagnostics Market shares.
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The Major Companies in The Global In vitro Diagnostics Market Include:
- F. Hoffmann-La Roche Ltd
- Abbott
- Siemens
- Thermo Fisher Scientific Inc.
- Danaher
- Bio-Rad Laboratories, Inc.
- QIAGEN
- Sysmex Corporation
- Quest Diagnostics Incorporated
- Other Prominent Players
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In vitro Diagnostics Market Segmentations:
By Product Type
• Instruments
• Reagents & Consumables
By Technique
• Immunodiagnostics
• Clinical Chemistry
• Molecular Diagnostics
• Point of Care
• Hematology
• Others
By Application
• Infectious Diseases
• Cardiology
• Oncology
• Gastroenterology
• Others
By End User
• Clinical Laboratories
• Hospitals
• Physician’s Offices
• Others
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Immunodiagnostics Market Share and Global Trend By Product Instruments, Reagents & Consumables), By Application (Oncology & Endocrinology, Hepatitis & Retrovirus, Cardiac Markers, Infectious Diseases), By End user (Clinical Laboratories, Hospitals, Physician’s Offices), By End-user(Hospitals, Dental Clinics, Academic & Research Institutes) and Geography Forecast till 2026
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