Global In Vitro Diagnostics (IVD) Market: Overview
In-vitro diagnostics tests are the tests performed outside the body of a patient. It uses reagents, devices, calibrators, analytical instruments, and systems for examination, detection of diseases, and health condition.
Global In Vitro Diagnostics (IVD) Market: Growth Factors
The key factors contributing to the propelling of the in vitro diagnostics market include rising frequency of chronic and lifestyle disorders and increasing adoption of molecular diagnostics in personalized medicine. However, rising healthcare price and lack of compensation may hinder the growth of the market.
Global In Vitro Diagnostics (IVD) Market: Segmentation
The global in vitro diagnostics market can be segmented based on technology, end-user, products & services, application, and geography. The technology segment of the market is divided into hematology, clinical chemistry, clinical microbiology, immunochemistry/immunoassay, coagulation & hemostasis, molecular diagnostics, and other technologies. The clinical chemistry segment of the market is diversified into lipid profile, electrolyte panel, thyroid function panel, basic metabolic panel, specialty chemical tests, liver panel, and renal profile. The immunochemistry/immunoassay segment of the market is classified into rapid tests, ELISPOT, radioimmunoassays, western blot, and enzyme-linked immunosorbent assay. The enzyme-linked immunosorbent assay segment of the market is sub-segmented into fluorescence immunoassay, chemiluminescence immunoassay, and colorimetric immunoassay. The molecular diagnostics segment of the market is divided into microarrays, DNA sequencing & next-generation sequencing, polymerase chain reaction, hybridization, isothermal nucleic acid amplification technology, and other molecular diagnostics technologies. The end-user segment of the in vitro diagnostics market is classified into academic institutes, patient self-testing, hospitals, point-of-care testing, laboratories, and other end-users. The products & services segment of the market is diversified into instruments, data management software, reagents & kits, and services. The application segment of the market sub-segmented into nephrology, oncology/cancer, drug testing, diabetes, autoimmune diseases, infectious diseases, cardiology, HIV/AIDS, and other applications.
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Global In Vitro Diagnostics (IVD) Market: Regional Analysis
North America is anticipated to be the dominating region in the global in vitro diagnostics market owing to the increasing aging population, easy convenience to technologically improved products, rising adoption of personalized medicine, increasing incidence of changing lifestyle and genetic disorders, and existence of a huge figure of important in vitro diagnostics manufacturers. Europe is also expected to grow at a higher rate in the near future. Even the Asia Pacific region is assumed to grow in the market at a significant rate in the coming period. The growth of this region can be attributed to the advancing healthcare framework and improving economies in India and China.
Global In Vitro Diagnostics (IVD) Market: Competitive Players
The key players in the global in the vitro diagnostics market are Thermo Fisher Scientific, Inc., Danaher Corporation, Abbott Laboratories, Becton, Dickinson and Company, Siemens Healthineers, and Roche Diagnostics. The other major players in the market include Sysmex Corporation, Ortho-Clinical Diagnostics, Inc., Johnson and Johnson, bioMérieux, Bio-Rad Laboratories, Inc., Qiagen N.V., and Diasorin S.P.A.