Market Research Report Store In Vitro Diagnostics (Rapid diagnostics) Global ma
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Description
In vitro diagnostics are tests that diagnose and prevent diseases, conditions or infections. IVD tests
are performed outside body in an artificial environment on samples such as blood, urine, tissue
isolated from human body. IVD is classified into 3 types namely: clinical laboratory testing,
near-patient testing, self-testing. IVD market is segmented by-techniques (including
immunoassays, point of care, molecular diagnostics, hematology, coagulation, microbiology,
clinical techniques, microbiology), product-type (including instruments, reagents, services, data
management systems), usability (including disposable, reusable), applications (including diabetes,
oncology, cardiology, HIV/AIDS, autoimmune disease, nephrology, drug testing), -end-user
(including hospitals, laboratories, academics) and geography (globally).
The global IVD market was reported with high revenue in previous years and hence expected to
grow at a high CAGR by 2019. The Asia-Pacific and RoW regions are expected to register a
significant growth rate for the IVD market. North America commands the largest share while Asia
Pacific is the fastest revenue growing region.
IVD market growth is driven by factors such as increase in incidences of chronic and infectious
diseases across all age cohorts, genetic diseases, aging population, rising acceptance of
personalized medicine, rise in healthcare awareness in patients and high unmet medical needs in
diagnosing diseases. Screening initiatives and high investment in healthcare infrastructures mainly
contributes to market growth. Whereas, difficulty in rendering rapid diagnostic results, stringent
regulatory policies, reimbursement issues and economic crisis are the major growth restraints.
Different geographies is an opportunistic factor which improved IVD market growth.
Roche diagnostics (Basel, Switzerland) is expected to be the largest player in the IVD market,
followed by Siemens and Abbott. The IVD market is highly consolidated, with the major players
holding close to 80% market share. Top ten major players are Roche Diagnostics, Siemens