Global In-Vitro Diagnostics (IVD) Market: Industry Analysis & Outlook (2016-2020)
- Report Description Table of Contents
Diagnosis is the identification of the nature and cause of a certain phenomenon. It involves two different types of testing method: in vivo and in vitro diagnostics. In-vitro diagnostics (IVDs) tests are defined as tests executed outside a patient’s body which put analytical instruments, devices, reagents, calibrators and systems to use for checking of health status or diagnosing diseases. In-vitro means ‘in the glass’, as traditionally these tests were directed in glass test tubes. On the other hand, in-vivo diagnostics tests like electroencephalography, electrocardiography and imaging are executed inside a patient’s body.
The global IVD market is segmented on the basis of product, technology used and test location. On the basis of product, this market can be divided into three sub segments; Reagents, analytical instruments and accessory products. By technologies employed, it can be segmented into seven sub segments; immunochemistry, SMBG, POCT, molecular diagnostics, clinical chemistry, microbiology, hematology and others. Further, depending upon test location, the market can be divided into three sub segments; labs, POC and self-test.
Growth of the global IVD market is driven by several factors including rising cases of infectious disease, increasing diabetic patient base, increasing number of patients suffering from chronic ailments such as cancer. Additionally, escalating global aged population, rising GDP per capita and increasing healthcare expenditure per capita will act as a catalyst for market growth. Owing to the suitable demographical changes and rising disposable income coupled with improving basic infrastructure, developing regions such as Asia-Pacific and Latin America are expected to experience robust growth. However, the market growth is hindered by lack of customer adoption, unclear regulation of new advancing technologies and lack of basic facilities and infrastructure.
The report “Global IVD Market: Industry Analysis & Outlook (2016-2020)” analyzes the development of this market, with focus on the North America, EMEA, Asia-Pacific and Latin America markets. The major trends, growth drivers as well as issues faced by the market are discussed in detail in this report. The four major players: Siemens AG., Inc., Roche Holdings AG., Abbott Laboratories and Danaher Corp. are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global IVD market along with the study of the regional markets.