In vitro diagnostics (IVD) is a method of diagnostic test in an external environment outside human body. The global IVD market is expected to generate revenue of $74.65 billion by 2020, registering a CAGR of 5.34% during 2014-2020. The report segments the IVD market into techniques, usability, application, product type, geography and end users. In terms of Geographical analysis, Asia Pacific is would grow exponentially and is expected to generate maximum revenue during the estimated period due to rising awareness and healthcare expenditure of the people.
Technological strides along with rising incidences of infectious & chronic diseases are the key factors that drive the market growth. Further, Widespread healthcare awareness and its cost effectiveness would boost the market growth. However, the strict governing policies and reimbursement concerns are slowing down the overall market growth.
IVD Techniques Market Analysis
The report segments the global IVD techniques market into clinical chemistry, immunoassays, molecular diagnostics, point of care, coagulation, microbiology, hematology, and other clinical techniques. Point of care generates maximum revenue, while molecular diagnostics is growing at a fastest rate due to its capability to detect main cause of the disease efficiently.
IVD Product Type Market Analysis
The report divides the product type marker on the basis of instruments, data management systems, reagents, and services. Instruments market has the largest market share followed by reagents market due to its usability in numerous diagnostic equipments. Increase in the use of diagnostic devices that require a reagent is the main factor that is driving the market growth.
IVD Usability Market Analysis
Usability segment is categorized as reusable and disposable IVD devices. At present, clinicians and doctors favor disposable devices, to stay away from infections. However, reusable IVD device generates maximum revenue on the IVD usability market. Reusable devices are more cost effectiveness and hence, driving the usability market growth.
IVD Applications Market Analysis
In terms of application, the report segments the IVD market based on cancer/oncology, diabetes, cardiology, nephrology, autoimmune diseases, drug testing, HIV/AIDS and others. Infecetious disease is expected to continue generating maximum revenue during the analyzed period.
IVD End User Market Analysis
The end users segment of the global IVD market consist of laboratories, academics, hospitals, point of care testing and others. Academic institutions give IVD trainings to the students. Laboratories are the maximum revenue generator followed by point of care in the end user market.
IVD Geography Market Analysis
The geographical analysis is based on regions such as Europe, Asia Pacific, North America, and Rest of World. North America is the largest revenue generating region in all segments of global IVD market, whereas Asia Pacific region is fastest growing region amongst the regions studied.
IVD Competitive Analysis
The investigation of main ten players in the worldwide business uncovers methodologies embraced to keep up their position in the aggressive business environment. Vital research of the top players uncovers that market players are embracing product dispatch as their key formative technique in the business sector, as the business players are advancing novel items to grow their product range. Acquisitions and endorsements are some extra procedures received by the organizations in the business to upgrade their business and extend their span over the globe.
IVD High Level Analysis
The business sector research gives an agreeable perspective of worldwide IVD market. Porter’s five-force model aides in dissecting business sector players, new contestants in the business and the novel methodologies applied by them. In the current business situation, IVD market has moderate haggling force of supplier due to brand loyalty. Fluctuating product differentiation would create moderate buyers bargaining. High entrance barriers lead to lower risk of new contestants. Intersegment substitution prompts lower danger of Substitute. The quality chain analysis uncovers the key mediators included in the production network. Crude material suppliers, medicinal gadget makers, wholesalers, administration suppliers and end clients are the different stakeholders included in the supply network of IVD business.
Purpose behind Study
IVD is the most old procedure for analysis of the infection. With increment in occurrences of infectious and chronic diseases and rising health awareness amongst patients, the business is seems to be growth optimistic in various regions. As there is a movement from traditional gadgets to cutting edge analytical gadgets, IVD would turn out to be a lucrative market in future.
KEY MARKET SEGMENTS
MARKET BY TECHNIQUES
MARKET BY PRODUCT TYPE
MARKET BY USABILITY
MARKET BY APPLICATIONS
MARKET BY END USER
MARKET BY GEOGRAPHY