5 Trends That Will Shape U.S. IVD Market by 2019 U.S. IVD Market | Page 2

Introductionof
U.S. IVD Market
U.S. IVD market was valued at $15,746 million in 2016, and is projected to reach at
$20,707 million by 2023, growing at a CAGR of 3.9% from 2017 to 2023. The reagent
segment accounted for more than three-fifths share of the total market in 2016.
In vitro diagnostics (IVD) are laboratory-based analysis performed in in vitro conditions
to determine general state of health and presence of diseases, and to assess disease
progression and treatment. Infections, cancer, cardiovascular immunological,
nephrological, and gastroenterological diseases are diagnosed in an in vitro
environment. Evolution of information technology plays an important role in the
development of automated techniques.
Increase in geriatric population, rise in disposable income, and high healthcare
expenditure in the U.S. drive the market growth. However, unfavorable reimbursement
policies and stringent government regulations related to the safety and efficacy of the
IVD are expected to restrain the market growth during the forecast period. Ongoing
R&D associated with the IVD and increase in awareness of preventive healthcare
measures provides huge growth potential for IVD market.