Introduction of new techniques for disease diagnosis is a key factor driving the global in-vitro diagnostics market, states Fortune Business Insights in a report, titled “In-vitro Diagnostics Market” Size, Share & Industry Analysis, By Product Type (Instruments, Reagents & Consumables), By Technique (Immunodiagnostics, Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology and Others), By Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals, Physicians Offices, Others) and Regional Forecast, 2019-2026.” According to the report, the global in-vitro diagnostics market was valued at USD 61.22 Billion in 2018 is predicted to reach USD 87.11 Billion by 2026, exhibiting a CAGR of 4.5% during the forecast period.
As per the report published by Fortune Business Insights, the reagents and consumables segment is expected to hold maximum shares in the global-vitro diagnostics market during the forecast period owing to the increasing research and development activities for the diagnosis of chronic diseases. In addition, the escalating demand for self-test and point-of-care devices will subsequently increase the demand for reagents and consumables segment, which, will, in, turn boost the global in-vitro diagnostics market revenue during the forecast period.
The report offers an elaborative overview of the trends prevailing in the in-vitro diagnostics industry. It also includes exclusive data which provides information about the in-vitro diagnostics market dynamics and competitive landscape. The report gives weightage to the segmentation in the global in-vitro diagnostics market and provides proficient facts and figures besides offering informative tools to assist companies in their overall business growth.
Major In-Vitro Diagnostics Market Key players covered in the report include:
- Thermo Fisher Scientific Corporation
- Life Technologies Corporation
- Biomerieux SA
- Gen-Probe Incorporated
- Becton Dickinson
- Johnson & Johnson
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Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for market to figure out and study the market’s needs, market size, and competition.
In-Vitro Diagnostics Market Analysis 2021:
Increasing Prevalence of Chronic and Infectious Disease Will Enable Growth
The launch of diagnostic and rapid testing tools by leading market players will propel growth of the global in-vitro diagnostics market. For instance, Thermo Fisher Scientific launched Phadia 200 for diagnosis of allergy & autoimmune conditions. The launch of Phadia 200 is anticipated to increase the revenue of the company. According to the report, the reagents and consumables segment will account for a major portion in the global in-vitro diagnostics market during the forecast period owing to the adoption of self- test and point-of-care devices. Furthermore, the instrument segment is likely to grow at a moderately slower pace during the forecast period. Rising technological advancement is predicted to aid growth of the segment. Moreover, the increasing cases of cancer and infectious disease around the world will further accelerate global in-vitro diagnostics market growth.
Launch of Altostar Molecular Diagnostics Workflow Will Boost Growth
Altona Diagnostics GmbH, molecular diagnostic testing solutions company launched a CE-IVD marked AltoStar Molecular Diagnostics Workflow. AltoStar Molecular Diagnostics a flexible and efficient automatic system that automates the entire workflow from sample preparation up to analysis. Fortune Business Insights states the launch of CE-IVD marked AltoStar Molecular Diagnostics Workflow is expected to boost the in-vitro diagnostics market revenue. Furthermore, the oncology segment is likely to grow at a considerable rate during the forecast period. Rising adoption and availability of advanced home care kits such as fecal occult blood test (FOBT) for diagnosis of colon cancer in homecare settings is one of the major factor likely to fuel demand for the oncology segment, which, will, in turn, uplift the global in-vitro diagnostics market shares
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