In-Vitro Diagnostics(IVD) Market Is Projected To Witness Growth Based On Increased Awareness Among the Consumers About various Diseases,Till 2020:Grand View Research,inc.
Global in vitro diagnostics market is expected to
propagate at a significant rate owing to the surging incidences of rising aging
population, chronic lifestyle related diseases, and increased usage of
personalized medicine and point-of-care testing. In vitro diagnostics is
anticipated to grow due to the developments, innovation, and advancements in
various IVD technologies.
Rising health concerns and the ability of the
consumers to take these IVD tests at home and in hospital have increased their
awareness among the consumers, leading to market growth. Serious health issues
including diabetes, cancer, and sexually transmitted diseases are expected to
be identified using IVD tests and surge the growth of the market in the long
run.
Increased awareness among the
consumers about various diseases, quickly altering healthcare environment, and
enhanced role of diagnostics in patient care has provided a boost to the in
vitro diagnostic market. Surging need for detecting communicable diseases,
point-of-care recognition, and identification of various diseases like
respiratory infections, RSV, influenza, and pneumonia along with identification
of pathogens causing filariasis and malaria are some of the key drivers of IVD
market.
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Product-wise the in vitro
diagnostic market is segmented into instruments, services, data management
systems, reagents, and kits that are intended to diagnose and determine the
state of health to mitigate, cure, prevent, or treat a particular disease. The
Food and Drug Administration (FDA) classifies the IVD products according to
regulatory control into Class I, II and III. Different techniques of carrying
out IVD tests are molecular diagnostics, blood testing, diabetes testing,
clinical chemistry, microbiological diagnostic techniques and flow cytometry.
The tissue diagnostic market is expected to rise owing to the increasing
incidents of lung and bronchus cancer, melanoma, and prostate breast cancer diagnosis.
In 2013, Professional IVD products were the largest segment accounting for
revenue of USD 36,117.3 million in 2013.
Electrolyte panel, basic metabolic
panel, lipid profile, liver panel, renal profile, rapid tests, western blot,
hematology, coagulation, hemostasis, microarray, hybridization,
radioimmunoassay and specialty chemicals are the most commonly used
technologies in the market. Applications of in vitro diagnostics include
oncology, cancer, nephrology, cardiology, drug testing, autoimmune diseases,
diabetes and infectious diseases. The IVD tests are being used by a wide range
of customers including academic institutes, in point-of-care testing, patient
self-testing, hospitals, and laboratories.
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Region-wise the global IVD market
is segmented into various regions including North America, Europe, Asia
Pacific, Latin America, Middle East and Africa. In 2014, North America was the
largest regional segment with about 43% market share owing to established
distribution channels, extraordinary diagnostics in cancer screening, and
prevalent disorders like respiratory diseases and genetic testing. IVD market
in Europe follows the lead and is expected to rise on account of rising cases
of cancer, tuberculosis and pneumonia. However, Asia Pacific and China will
follow the IVD market trend owing to the rising population and increasing
disposable incomes.
Prominent players dominating the
global IVD market are Johnson and Johnson, Siemens Healthcare, Becton
Dickinson, Roche Diagnostics, Abbott Laboratories, and Beckman Coulter Inc. Few
other competitors are Ortho-Clinical Diagnostics, Inc., Danaher Corporation,
Thermo Fisher Scientific, Sysmex Corporation, Bio-Rad Laboratories, Inc., and
bioMérieux.
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