In-Vitro Diagnostics Market Analysis - Global Industry, Size, Share, Trends and Forecast, 2014 – 2024

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC263

The global In-Vitro Diagnostics (IVDs) market was valued at around $63 billion in 2016 and is expected to witness a growth of over 6% during the forecast period from 2017 to 2024. IVD products are defined as the medical tests that are used to perform diagnosis of any disease condition by using medical reagents, instruments and accessories, with an objective to determine the health condition; and cure, mitigate or treat disease. There is a wide array of IVD tests available in the market to diagnose samples that are collected from patients or healthy individuals. These tests are performed at laboratories, healthcare professional’s settings and some tests are used by patients at their home. Since the introduction of Medical Device Amendments of 1976, the Food and Drug Administration (FDA) has been involved in the regulatory control of IVD tests and devices. Based on the level of regulatory control, the FDA divides IVD products into class I, II, or III to ensure safety and effectiveness. 
 
The global IVD tests market is segmented based on the type of test, end users and geography. Based on the type of test, the market is segmented into central lab immunoassays, blood glucose monitoring, central lab clinical chemistry, POC (Point of Care), clinical molecular, microbiology, anatomic pathology, hematology, immunohematology, blood screening immunoassays, blood screening molecular, central lab critical care, central lab urinalysis, coagulation, and other. Based on the type of end user, the market is segmented into three segments, including central labs, POC, and self. Further, based on region/geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA).  Amongst these regions, North America dominated the market in 2016 and is expected to maintain its leadership throughout the forecast period. This is primarily triggered by the presence of large pool of patients with greater affordability, increased healthcare awareness among the population and presence of number of players operating in this market. 
 
This research report is designed to analyze and estimate the performance, market demand, and size of global IVDs market across the world. This report includes historical data and forecasts and market size, value chain, product sales, their forecasts, pipeline products and various other key factors that are boosting or impeding the growth of this market. Some of the key factors driving the growth of this market include rising awareness about IVD tests available in the market, rising number of chronic diseases due to aging population, increasing demand from emerging markets, particularly China and India, and rise in demand for point of care diagnostics. In addition, increasing investments for technological advancements combined with developments in genomics is further expected to present substantial growth opportunities for the companies operating in this market. 
 
However, cuts in healthcare spending in different countries, reimbursement cuts for some of the IVD tests, concentration of some tests into fewer laboratories, and rise of accountable care organizations is expected to hamper the growth of this market in coming years.  
 
Market Segmentation
 
Market by Type of Test
 
  Central lab immunoassays 
  Blood glucose monitoring 
  Central lab clinical chemistry 
  Poc (point of care) 
  Clinical molecular 
  Microbiology
  Anatomic pathology
  Hematology
  Immunohematology 
  Blood screening immunoassays 
  Blood screening molecular 
  Central lab critical care 
  Central lab urinalysis 
  Coagulation 
  Others
 
Market by End User
 
  Central labs 
  POC (Point of Care)
  Individuals
 
Market by Geography
 
  North America 
  Europe 
  Asia-Pacific 
  Latin America 
  Middle East and Africa (MEA)
 
Some of the key players profiled in the report include Roche Diagnostics, Siemens Healthcare, Danaher Corporation, Bio-Rad Laboratories, Thermo Fisher Scientific, Inc., Johnson and Johnson, Becton, Dickinson and Company, Abbott Laboratories, Sysmex Corporation, Luminex Corporation, Leica Biosystems Imaging, Inc. and  Diasorin S.P.A.  
 


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