IVD Market Explained

3 Jun
2014

6585 Views

In Vitro Diagnostics includes the application of diagnostic techniques outside human body in artificial surroundings for example, urine check for glucose or blood test. In Vitro is inspired from In Vivo, which means inside the body. Allied Market Research has formulated an apt report on the market trends of Global IVD market. Let’s know about the key characteristics of the report.

The report forecasts the market value of global IVD market to reach $74.46 billion by 2020. North America would be the leading regional market with a value of $30.1 billion by 2020 with a CAGR of 4.02% during estimated period. Asia-Pacific would grow rapidly with a CAGR of 7.49% during 2014-2020.

Market drivers:

Health care awareness
Increased per capita income
Demand for efficient and advanced technologies
Rising pool of patients

Market Restraints:-

Stringent government rules
Ineffective government reimbursement policies

Segments of the global IVD market:-

Techniques
Product
Usability
Applications
End-user
Geography

Point of care technique is most accepted globally and it holds a share of about 31% of the gobal IVD market during the year 2013. Further, it is expected to grow with a CAGR of 3.5% during the estimated period.

Key segments of the product market:-

Instruments
Reagents
Data management software
Services

Segmentation of Application market:-

Infectious disease
Diabetes
Cancer
Cardiology
Autoimmune diseases
Nephrology
Drug testing
HIV/AIDS

Infectious disease is the popular one among other segments within the application market.

End User segment:-

Hospitals
Laboratories
Academics
Point of care testing

Point of Care testing is expected to grow speedily due to higher convenience provided by it as compared to others.

The report sheds some light on the top industry players and gives a detailed view about them. They are:-

Abbot Laboratories
Roche Diagnostics
Siemens
Johnson & Johnson
Alere Inc.
Arkray Inc.
Bayer AG
Becton Dickinson & Company
Biomerieux
Dahaner Corporation
Sysmex Corp.

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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