In-Vitro Diagnostics Market |2021 Analysis, Key Opportunities Major Players, Impact of COVID-19 and Size, Growth, Share, Regional Analysis With Global Industry Forecast To 2027, Introduction of new techniques for disease diagnosis is a key factor driving the global in-vitro diagnostics market, states Fortune Business Insights in a report, titled “In-vitro Diagnostics Market” Size, Share Industry Analysis, By Product Type (Instruments, Reagents Consumables), By Technique (Immunodiagnostics, Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology and Others), By Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals, Physicians Offices, Others) and Regional Forecast, 2019-2026.” 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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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. 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. Moreover, the increasing cases of cancer and infectious disease around the world will further accelerate global in-vitro diagnostics market growth.
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
Highlights of the In-Vitro Diagnostics Market Report Include:
- Microscopic study of the various factors driving and restraining the market
- Careful classification and research of the market segments
- Accurate computation of market figures
- Comprehensive analysis of the regional dynamics and competitive landscape
In-Vitro Diagnostics Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
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Key Players Operating in The In-Vitro Diagnostics Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Thermo Fisher Scientific Corporation
- Life Technologies Corporation
- Biomerieux SA
- Gen-Probe Incorporated
- Becton Dickinson
- Johnson Johnson
- Abbot
The report focuses on global major leading industry players of market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. This report focuses on In-Vitro Diagnostics Market Trend, volume and value at global level, regional level and company level. From a global perspective, this report represents overall In-Vitro Diagnostics Market Size by analysing historical data and future prospect.
With tables and figures helping analyse worldwide In-Vitro Diagnostics Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Increasing Preference towards In-Vitro Diagnostics to Boost Market
Recent advancements made in in-vitro diagnostic solutions have been fruitful for end users as well as companies and manufacturers. Due to the portability factor, many geriatrics prefer in-vitro diagnostics method over other methods. In addition to geriatrics, in-vitro diagnostics help in the treatment of those with severe chronic ailments and bowel disorders or muscle and joint injuries, wherein physical movements are limited. Backed by increasing demand, many companies are setting up in-vitro diagnostic centres with the aim of maximizing their profit. Growing adoption of in-vitro diagnostics by companies and end-users is boosting the global IVD market and is likely to enable growth of this market in the forecast period.
