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(IT-NEWSWIRE.COM, June 25, 2018 ) Global IVD Market was valued at USD 62.01 Billion in the year 2017. Global IVD market is further estimated to grow at a CAGR of 6.61% from 2018 to reach USD 91.04 Billion.
North America region holds the highest market share in 2016 while APAC region is considered as the fastest growing market in the forecasted period. At country level, U.S is the biggest market in 2016 and it is projected to grow at a gradual pace in the coming years.
Grifols (Spain), Roche Diagnostics (Switzerland), bioMérieux (France), Abbott Laboratories (U.S.) are some of the key players in the Global IVD market with Roche Diagnostics holding the highest market share. Better global reach, both at production and at an operational level is the main reason for holding this highest market share. Growing research and development expenditures to address changing demand of consumers, new product launches in recent years are some of the key market drivers. Organic growth strategies adopted by most of the top manufacturers in recent years is also provides comprehensive market opportunities for various stakeholder.
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Drivers
Growing awareness of self-care medicines
Growing infectious disease market and adoption of point-of-care testing
Restrain
Lack of regulatory standards
Rising cost for better healthcare
Opportunity
Increasing significance of diagnostics in improving healthcare quality
Growing R&D investments.
Challenge
Intense competition and declining healthcare reimbursement
The report is segmented as, by type, by technology, by end users and by region. The reagents and kits segment by type is likely to hold the largest market share during the forecast period. The growth can be attributed to the increasing number of blood donations, rising incidence of infectious diseases, and increasing capacity (disposable income) with wide range of available reagents and kits. On the other hand, hospitals by users is expected to grow at the highest CAGR during year 2017-2023 as increasing number of diagnostics tests carried out in hospitals.
Key Benefits for Stakeholders
IVD product and OEM Manufacturers, manufacturers & Distributors
Pathologists and Pathology Laboratories
Research and Consulting organization
Hospitals, Clinics and Healthcare Institutions
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By type
Introduction
Instruments
Software and Services
Reagents & Kits
By Technique
Immunodiagnostics
Blood testing
Molecular diagnostics
Tissue diagnostics
Clinical chemistry
Other IVD techniques
By Users
Hospitals
Point Of Care Testing
Academic and Medical Schools
Others
By Region
North America
Europe
Asia-Pacific
RoW
Key Players
Abbott laboratories (U.S.)
Beckman Coulter Inc. (U.S.)
Biomérieux SA (France)
Grifols SA (Spain)
F. Hoffmann-La Roche AG (U.S.)
Becton, Dickinson and Company (U.S.)
Qiagen Netherlands (includes Digene) (Netherlands)
Danaher Corporation (Beckman Coulter) Lab 21 (US)
Siemens AG (Germany)
Johnson & Johnson (U.S.)
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