In vitro diagnostics (IVD) is the technique in which medical devices and reagents are used to examine specimens such as blood, urine, stool, tissues, and other body fluids, which are derived from the human body to detect diseases, conditions, and infections. These tests can be performed in stand-alone laboratories, and hospitals- Some of the significant technologies incorporated in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology, and mass spectrometry, which are used for test sample preparation. Incessant innovations in IVD product design and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines.
There is a growth in need of IVD testing due to an increase in incidences of chronic and infectious diseases and the rise in geriatric population prone to immunological disorders. Moreover, the increased application of personalized medicines and widespread knowledge of rare diseases boost the growth of the IVD market. In addition, the increase in incidences of colorectal cancer, neurological disorders, and gynecological diseases boost the adoption of IVD devices and reagents. On the contrary, stringent government regulations and unfavorable reimbursement policies limit the growth of the market. The global IVD market is accounted for $61,103 million in 2016 and is estimated to reach $84,647 million by 2023, growing at a CAGR of 4.6% from 2017-2023.
The market is segmented on the basis of product type, techniques, application, end-user, and geography. By product type, the market is categorized into reagents, instruments, and software & services. On the basis of techniques, it is categorized into immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics, clinical chemistry, and other IVD techniques. By application, the market is classified into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and other indications. Based on end-user, it is divided into hospitals, academic and medical schools, point of care testing, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global IVD market, with current trends and future estimations to elucidate the investment pockets.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
Extensive analysis of different segments facilitates to understand various products of the market.
Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
KEY MARKET SEGMENTS
By Product Type
Reagents
Instruments
Software and Services
By Techniques
Immunodiagnostics
Enzyme-Linked Immunosorbent Assay (ELISA)
Chemiluminescence Immunoassays (CLIAS)
Fluorescence Immunoassays (FIAS)
Colorimetric Immunoassays (CIS)
Rapid Tests
Enzyme-Linked Immunospot Assays (ELISPOT)
Radioimmunoassay
Western Blot
Blood Testing
Molecular Diagnostics
Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INAAT)
Hybridization
DNA Diagnostics
Microarrays
Others
Tissue Diagnostics
Clinical Chemistry
Basic Metabolic Panel
Liver Panel
Lipid Profile
Thyroid Function Panel
Renal Profile
Electrolyte Panel
Specialty Chemicals
Other IVD Techniques
By Application
Infectious Diseases
Cancer
Cardiac Diseases
Immune System Disorders
Nephrological Diseases
Gastrointestinal Diseases
Other Indications
By End Users
Standalone Laboratory
Hospitals
Academic and Medical Schools
Point of Care Testing
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
List of players profiled in the report
Thermo Fisher Scientific Inc.
Alere Inc.
Biomerieux
Danaher Corporation
F. Hoffmann-La Roche AG
Becton Dickinson and Company
Bio-Rad Laboratories
Bayer AG
Sysmex Corporation
Johnson & Johnson
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