Product ID: SQSG35G2015
Report ID:
SQSG35G2015 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
124 |
Figures:
77
In-Vitro Diagnostics Market Driver
Rising Burden of Chronic Diseases to Augment Market Growth
Government Regulations and Investments
Restraints
Regulatory and legal Frameworks
Reimbursement Situation that is not Favourable
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REQUEST FREE CUSTOMIZATIONIn-Vitro Diagnostics (IVD) Market size was valued at USD 117.8 billion in 2019 and is poised to grow from USD 121.69 billion in 2023 to USD 157.78 billion by 2031, growing at a CAGR of 3.3% during the forecast period (2024-2031).
The In-Vitro Diagnostics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Roche Diagnostics', 'Siemens Healthineers', 'Abbott Laboratories', 'Danaher Corporation', 'Thermo Fisher Scientific', 'Sysmex Corporation', 'bioMerieux SA', 'Becton, Dickinson and Company', 'Ortho-Clinical Diagnostics', 'QIAGEN N.V.', 'Beckman Coulter, Inc.', 'Hologic, Inc.', 'Bio-Rad Laboratories', 'Agilent Technologies', 'Illumina, Inc.', 'Cepheid', 'PerkinElmer, Inc.', 'Bruker Corporation', 'Luminex Corporation', 'DiaSorin S.p.A.'
The centralized laboratory using automated analytical testing techniques to identify target analytes continues to be the predominant laboratory testing paradigm in use today. This pattern is already well-established in the fields of clinical chemistry and hematology, and it is currently spreading to others like immunoassays and molecular diagnostics.
The market's reagent segment contains elements, solutions, or preparations that are chemical, biological, or immunological and that the maker intends to utilize throughout the in vitro diagnosis procedure. Manufacturers frequently lease equipment rather than selling it outright to customers since many diagnostic platforms are expensive. In these agreements, the leasing is linked to agreements for the long-term purchase of related reagents or tests for the equipment.
The in-vitro diagnostics market size in North America was the largest in 2020, and it's expected to hold this position during the forecast period. This is ascribed to the region's well-integrated healthcare system, patients' increased knowledge of healthcare issues, patients' adoption of cutting-edge therapies, and an increase in healthcare spending overall. However, the Asia-Pacific region is expected to see significant growth due to rising healthcare costs, a sizable patient population with chronic illnesses that necessitate IVD testing, and rising disposable incomes. In addition, the Asia-Pacific in-vitro diagnostics market is anticipated to rise rapidly in India and China.
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Product ID: SQSG35G2015