9-May-2019: The global in vitro
diagnostics market size is expected to reach USD 100.8
billion by 2026 registering a CAGR of 4.75%, according to a new report by Grand
View Research, Inc. Favorable government regulations supporting approval
process of medical devices and rising geriatric population are among the key
factors driving the market. For instance, in August 2018, the central
government of India amended provisions in the Fourth Schedule of Medical
Devices Rule to ease the approval process for IVD devices. In July 2017,
bioMerieux received an FDA approval for VITEK MS, its mass spectrometry system
for rapid identification of pathogens, such as mycobacteria, molds, and
Nocardia species.
In addition, various
initiatives by private and public organizations are projected to fuel market
growth. For instance, In July 2018, NAMSA-a Medical Research
Organization-launched its “Uniquely IVD” development services to expedite the
commercialization of IVD devices for global manufacturers. NAMSA is
collaborating with global regulatory bodies to investigate the international
regulatory framework and delivers highly reliable IVD development outputs
related to clinical research initiatives, quality, and regulatory systems.
Furthermore, rising need for
onsite and early diagnosis and treatment plans is anticipated to accelerate the
demand for highly accessible IVD products. Rising prevalence of diseases, such
as Cardiovascular Disorders (CVDs), cancer, and diabetes, are also expected to
increase the demand for IVD. According to Cancer Research U.K., in 2018, about
17 million cancer cases were reported. Key companies, such as Becton, Dickinson
and Company; Hologic, Inc. (Gen-Probe); bioMerieux SA; and F. Hoffmann-La Roche
Ltd.; are focusing on product development, collaborations, and M&A to
increase their market share and product portfolio.
For instance, in February 2018,
BD announced the availability of PAXgene Blood ccfDNA tube (CE-IVD marked) used
for cancer and non-invasive prenatal testing application in Switzerland and the
European Economic Area. This product was developed by a joint venture of BD and
Qiagen-PreAnalytiX GmbH. In addition, in September 2018, Cepheid received
CE-IVD clearance for Xpert HCV VL Fingerstick used to detect and quantify HCV
RNA levels from fingerstick blood sample.
In depth research report on In-Vitro Fertilization
(IVF) Market
Further
key findings from the study suggest:
· Reagent
product segment held the largest market share of 64.9% in 2018 owing to the
high usage of reagents in IVD testing
· Molecular
diagnostics is expected to witness the fastest growth over the forecast period
owing to its high usage in detecting various diseases
· Infectious
disease application segment led the global IVD market in 2018 and is projected
to maintain the dominance during the forecast period
· Asia
Pacific region is expected to exhibit the fastest growth from 2019 to 2026 on
account of rapidly improving healthcare infrastructure and presence of large
target population base
Grand View Research has
segmented the global In Vitro Diagnostics (IVD) market on the basis of product,
technology, application, end use, and region:
IVD
Product Outlook (Revenue, USD Million, 2014 - 2026)
· Instruments
· Reagents
· Services
IVD
Technology Outlook (Revenue, USD Million, 2014 - 2026)
· Immunology
· Instruments
· Reagents
· Services
· Hematology
· Instruments
· Reagents
· Services
· Clinical
Chemistry
· Instruments
· Reagents
· Services
· Molecular
Diagnostics
· Instruments
· Reagents
· Services
· Coagulation
· Instruments
· Reagents
· Services
· Microbiology
· Instruments
· Reagents
· Services
· Others
· Instruments
· Reagents
· Services
IVD
Application Outlook (Revenue, USD Million, 2014 - 2026)
· Infectious
Disease
· Diabetes
· Oncology
· Cardiology
· Nephrology
· Autoimmune
Diseases
· Drug
Testing
· Others
IVD
End Use Outlook (Revenue, USD Million, 2014 - 2026)
· Hospitals
· Laboratories
· Home
Care
· Others
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About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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