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27-Mar-2019

In-Vitro Diagnostics Instruments Market Worth US$ 13,000 Mn in 2026 | CAGR 6.7% According To MarketResearch.Biz

The global in-vitro diagnostic instruments market is projected to reach a value of over US$ 13,000 Mn in 2026 at a CAGR of 6.7% over the forecast period. The report offers in-depth insights, revenue details, and other vital information regarding the global in-vitro diagnostic instruments market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. In vitro diagnostics (IVD) instruments are medical devices used to perform tests to detect diseases and infections by examining specimens of human body fluids such as urine, blood, tissues, stool, etc. It helps protect health and safety of patients by serving best medical services. Thus, they add remarkable value to treatment processes and diagnoses and enhances well-being of consumer patients and population as a whole. Thus, the global in-vitro diagnostics instruments market is witnessing rapid growth in the global healthcare market.

Increasing personalized healthcare approach and the ease offered by in-vitro diagnostic techniques and devices such as faster detection of asymptomatic infections and diseases and easy patient management at times when clinical presentation is non-specific is driving growth of the global market.  In addition, rising adoption of point of-care testing among healthcare professionals as well homecare settings is another factor fueling growth of the target market.

Moreover, rising awareness among people, increasing geriatric population, increasing number of private diagnostic centers, more focus on decentralized point-of-care testing instead of centralized laboratories to strengthen consumer patients base, continuous technological advancements, better IVD instruments, improvised treatment monitoring, and availability of OTC tests are key factors driving the global in-vitro diagnostics instruments market growth. However, US medical devices tax policies resulting in reduction of profits for manufacturers, poor reimbursement policies and high-cost involved in R&D of technologies are major challenges restraining growth of this market.

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The global in-vitro diagnostic instruments market report has been segmented on the basis of type, material, design, application, and region.

On the basis of product type, immunochemistry segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 7% over the forecast period, owing to launch of new biomarkers by manufacturers and growth in small scale laboratories performing routine tests. In addition, extensive usage of ELISA and semi-quantitative diagnostic tests is another factor supporting growth of the immunochemistry segment in the global market.

On the basis of end user, hospitals and diagnostic laboratories segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 7% over the forecast period, owing to increasing geriatric population, rising number of patients admitting in hospitals suffering from chronic diseases, and increasing government support for development of hospital infrastructure are major supporting growth of this segment.

The market in Asia Pacific is projected to register a significant growth of around 7%, which is relatively higher than that of markets in other regions. Increasing patient pool and rising government support for treatment of chronic diseases in countries such as India and China is major expected to support growth of the global market in Asia Pacific market over the forecast period. Product expansion by the key players in the emerging economies is another major factor boosting growth in the Asia Pacific region.

Key players include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., BioMérieux, Becton, Dickinson and Company, Johnson and Johnson, Qiagen N.V., Ortho-Clinical Diagnostics Inc., and Diasorin S.P.A.

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Report Description:

-2017 is considered as the base year for the research, historic year 2013 and 2017 and, the forecast period is from 2018 to 2028. The market is analysed on the basis of various segments and revenue value (USD Million) with CAGR In (%).

-The study offers a thorough analysis of global market type, material, design, application, and region.

-The report provides detailed analysis of driving factors, opportunities, restraints, threats, and challenges for gaining the crucial insight of the market.

-Porter’s Five Forces and SWOT Analysis is used in order to study the competitive scenario in the global market. This report incorporates the industry study which is focused on offering an elaborate view of the market.

-The report serves company profile of the key players operating in the market and a comparative research based on their business outlooks, product offering, segment market share, regional presence, business strategies, innovations, collabration & acquisitions, latest developments, joint venture, mergers, partnerships, and key financial information.

-The market forecast have been calculated by considering the effect of distinct political, social, economic, technological and legal factors which are all depends on our comprehensive secondary research, primary research, and in-house databases.

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Last Updated: 27-Mar-2019