In-vitro Diagnostics Market Worth USD 77.38 Billion by 2021

According to the new market research report, “In-Vitro Diagnostics (IVD) Market, by Products (Instruments & Systems and Reagents & Consumables Segments), Applications (Immunochemistry, Clinical Chemistry, Hematology, Infectious Disease, Microbiology, Genetic Testing, and Histology & Cytology) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2021“, published by Scalar Market Research, the in-vitro diagnostics market is expected to grow at a steady CAGR of 5.2% and become worth USD 77.38 billion by 2021. In 2016, the in-vitro diagnostics market is estimated to be worth USD 60.07 billion.

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The global in-vitro diagnostics market report offers in-depth analysis about the market size (revenue), market share, major market segments, global geographies, forecast, key players, and premium trends. It also focuses on the key drivers and opportunities in this market.

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Few key findings of the report:    

• The Strong rise in the incidences of chronic diseases and infectious diseases along with the rise in the number of the geriatric population are suggested to drive the business in the in-vitro diagnostics market.

• Widespread rise in the instances of infectious diseases and rising demand from the number of chronic disease patients, the report suggests a steady rise in demand for the in-vitro diagnostics market on the global scale.

• The impressive rise in the research and development efforts from the key market players is also a significant driving factor for the growth of the in-vitro diagnostics market during the forecast period.

The in-vitro diagnostics market report suggests a steady rise in demand, the growth of the emerging segments such as companion diagnostics, point-of-care tests, lab on a chip and other next generation technologies. These factors are expected to create significant business opportunities for the key players and the emerging players in the in-vitro diagnostics market. The growing demand for evidence-based medicine is also considered to be a key driving factor for this industry. The report highlights immunochemistry as the strongest growing application segment for this industry during the forecast period. Molecular diagnostics in genetic testing and cancer screening are expected to witness ample growth opportunities.

North America is suggested to hold the largest share of the in-vitro diagnostics market. Asia-Pacific, on the other hand, is expected to become the fastest-growing segment of the market during the forecast period. Strong government initiatives, rising awareness about healthcare and improved infrastructure are suggested to be some of the major reasons for the impressive growth of the in-vitro diagnostics market in the Asia-Pacific region.

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The key players highlighted in the in-vitro diagnostics market report include:

• Abbott Laboratories
• Becton Dickinson and Company
• BioMerieus
• Danaher Corporation
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Siemens Healthcare
• Thermo Fisher Scientific, Inc.

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