IVD (In Vitro Diagnostics) Market 2022 by Key Players, Segmentation, Industry Growth, Opportunities and Forecast by 2030

(Heraldkeepers via Comtex)

IVD (In Vitro Diagnostics) Market value was US$ million in 2020. The IVD (In Vitro Diagnostics) Market value is forecast to reach US$ million by 2030, growing at a compound annual growth rate (CAGR) % during the forecast period from 2021-2030.

In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. $$$report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.

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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market's future growth.

The demand for in-vitro diagnostic products due to the COVID-19 pandemic is expected to grow mainly due to factors such as a strong increase in the demand for PCR, NGS, serology-based rapid-test drugs, the favorable regulatory environment for drug creation & marketing and a sharp increase in target patient population. These trends have driven industry players to develop and enhance their existing capacities in production and delivery, as well as emphasis on commodity development & improvements. It is anticipated that the development of automated in vitro diagnostic (IVD) systems for laboratories and hospitals to provide reliable, precise, and error-free diagnosis would drive progress.

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For example, Becton, Dickinson and Company obtained CE-IVD certification for an integrated flow cytometry program from BD FACSDuet in March 2019 that helps clinical laboratories to improve their efficiency and performance in relation to manual processes. The growing geriatric population is projected to be one of the demand drivers for high impact rendering.

According to the United Nations (UN), it has been estimated that there were about 962 million people worldwide with age over 60 in 2017. In fact, according to the World Health Organisation (WHO), by 2020, the number of people over 60 years would surpass that of children under 5 years of age. It is expected that the IVD industry will be powered by the involvement of research organizations that offer consultancy services, clinical tests, and laboratory testing to address the increasing need for fast diagnosis and treatment plans. For starters, NAMSA began IVD production company in July 2018 to provide global manufacturers with services such as regulatory in vitro diagnostics, and clinical testing.

The regional analysis of IVD (In Vitro Diagnostics) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In terms of value, the North America is expected to account for the majority of the market owing to the favorable government legislation, well-established healthcare infrastructure, in-vitro diagnostic technical advancements and the involvement of key market players are the factors responsible for the largest regional share.

Major market player included in this report are:
Siemens Healthineers AG
Becton, Dickinson and Company
F. Hoffmann-La Roche Ltd.
bioMerieux SA
bioMerieux SA
Abbott Laboratories
Sysmex Corporation

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Technology:
Polymerase chain reaction
Next-generation Sequencing
Enzyme-Linked Immunosorbent Assay (ELISA)
Rapid/PoC Tests
By End-User:
Hospital-based Laboratories
Researchers & Academia
Reference Laboratories

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North America
Asia Pacific
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2016, 2017, 2018
Base year - 20198
Forecast period - 2020 to 2026

Target Audience of the Global IVD (In Vitro Diagnostics) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

What are the aspects of this report that relate to regional analysis?

The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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Source - HeraldKeeper
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