In Vitro Diagnostics Market 2020 By Revenue, Top Trend & Regional Growth Forecast
Category: #business  By Ronak Bora  Date: 2021-03-31
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In Vitro Diagnostics Market 2020 By Revenue, Top Trend & Regional Growth Forecast

In Vitro Diagnostics Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The ongoing coronavirus pandemic is offering healthcare industry an unprecedented opportunity to demonstrate the true benefits of in-vitro diagnostics (IVDs) in the modern world. COVID-19 presents a completely different challenge as well as opportunity compared to all other IVD tests in terms of global demand and immediacy. The IVD industry has risen to this challenge, generating a large number of tests of different technologies, including lateral flow antibody assays and polymerase chain reaction (PCR) for the detection of the coronavirus.  

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Universally acclaimed to be one of the most profitable verticals within the healthcare and medical devices space, global in-vitro diagnostics market size is projected to hit US$97.2 billion by 2025. In the near future, IVD demand will likely be driven by growing occurrence of various chronic, infectious, and hereditary diseases. Described below are a few key factors driving the IVD industry.   

The global in-vitro diagnostics industry is bifurcated into vivid domains including service segment, types, technologies used, robust application spectrum, end-user industries, and regional landscape.

Considering the service segment, IV diagnostics market is highly characterized by software services sector, courtesy- surging need for software in diagnostic testing services by vivid healthcare experts to screen chronic disorders.  In line with these, rising utilization of recently developed software to manage patient’s information will also offer new growth prospects for the segmental growth.

It is prudent to mention that services segment of IV diagnostics market was valued at USD 47 billion in 2018 and is poised to grow prolifically in the years to follow.

Molecular diagnostics offer precise, sensitive and accurate results and boast of quick turnaround time which augments the overall clinical outcomes. These factors enable the segment to depict a CAGR of 7 per cent through 2025, perhaps due to the significant demand for exceptional quality diagnostics for monitoring rare and/or chronic conditions. Not to mention, expediting disease burden across the globe is also likely to influence the demand for molecular diagnostics over the forthcoming years.

There has been consistent research for treating one of the most common diseases prevalent today – diabetes. As per reliable sources, nearly 1.5 million Americans are being diagnosed with diabetes every year, increasing the risk factors for kidney failure, heart strokes, heart attacks, and blindness. These stats have, undoubtedly, compelled government and industry players to undertake several initiatives to make people aware of the benefits of early disease diagnosing, offering huge prospects to the IV diagnostics industry.

As per report, diabetes segment acquired an overall market stake of USD 10 million in 2018 and is projected to grow at a prodigious pace in the upcoming years.

Europe in-vitro diagnostics market held a revenue share of more than 20 per cent in 2018 and is touted to observe tremendous gains over the foreseeable time frame, on the grounds of increasing number of baby boomers in the region. In addition to this, feasibility of technologically developed instruments and devices including the likes of blood gas analysis, clinical chemistry, and others for accurate diagnosis, would further drive the regional market in the years to come. 

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/in-vitro-diagnostics-market

Partial Chapter of the Table of Content 

Chapter 4.  In-vitro Diagnostics Market, By Type

4.1. Key segment trends

4.2. Product

4.2.1.  Market size, by region, 2014-2025 (USD Million)

4.2.2.  Reagents & kits

4.2.2.1.    Market size, by region, 2014-2025 (USD Million)

4.2.3.  Instruments

4.2.3.1.    Market size, by region, 2014-2025 (USD Million)

4.3. Service

4.3.1.  Market size, by region, 2014-2025 (USD Million)

4.3.2.  Software

4.3.2.1.    Market size, by region, 2014-2025 (USD Million)

4.3.3.  Testing services

4.3.3.1.    Market size, by region, 2014-2025 (USD Million)

Chapter 5.  In-vitro Diagnostics Market, By Technology

5.1. Key segment trends

5.2. Clinical chemistry

5.2.1.  Market size, by region, 2014-2025 (USD Million)

5.3. Immunoassay/immunochemistry

5.3.1.  Market size, by region, 2014-2025 (USD Million)

5.4. Molecular diagnostics

5.4.1.  Market size, by region, 2014-2025 (USD Million)

5.5. Hematology

5.5.1.  Market size, by region, 2014-2025 (USD Million)

5.6. Microbiology

5.6.1.  Market size, by region, 2014-2025 (USD Million)

5.7. Coagulation and hemostasis

Market size, by region, 2014-2025 (USD Million)

5.8. Urinalysis

Market size, by region, 2014-2025 (USD Million)

5.9. Others

Market size, by region, 2014-2025 (USD Million)

 

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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