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Increasing investment in R&D in molecular diagnostics, new product development, and rising prevalence of targeted diseases are some key factors driving market
VANCOUVER, BC, CANADA, July 5, 2022 /EINPresswire.com/ -- The global In-Vitro Diagnostics (IVD) market size is expected to reach USD 118.44 Billion at a steady revenue CAGR of 4.4% in 2028, according to latest analysis by Emergen Research. In-vitro diagnostics market revenue growth is due to increased investment in research & development in genomics and proteomics, and rising prevalence of targeted diseases.Rapid increase in geriatric population globally, rising prevalence of sedentary lifestyle-related diseases and conditions, and rise in infectious diseases rates are other factors driving revenue growth of the global market.
The wide ranging In-Vitro Diagnostics report consists of most recent market information with which companies can attain in depth analysis of Healthcare industry and future trends. With the global market data provided in the industry report, it has become easy to gain global perspective for the international business. By accomplishing an inspiration from the marketing strategies of rivals, businesses can set up inventive ideas and striking sales targets which in turn make them achieve competitive advantage over its competitors. Thus, the first class In-Vitro Diagnostics market report is an indispensable model to have increments in business activities, qualitative work done, and enhanced profits.
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Competitive Landscape:
The report also covers SWOT examination and Porter’s Five Forces analysis to offer details about leading players. The key players in the market are focusing on developing new strategies such as mergers and acquisition, joint ventures, new product launches, agreements, and partnerships to retain their market position and expand their product base.
Leading companies operating in the market and profiled in the report include:
Siemens Healthineers, Roche Diagnostics, Danaher Corporation, bioMérieux, Abbott Laboratories, DiaSorin, Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, QIAGEN, and Sysmex Corporation.
Market Dynamics:
The report offers insightful information about the market dynamics of the In-Vitro Diagnostics market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the In-Vitro Diagnostics market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the In-Vitro Diagnostics market.
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Some Key Highlights from the Report
In July 2021, Ortho Clinical Diagnostics launched Interleukin-6 (IL-6) reagent pack, which is the latest addition to Ortho's critical care blood testing menu. Ortho is one of the world’s leading in-vitro diagnostic companies and is available in the EU countries and several LATAM and APAC countries. The test is used to detect and evaluate inflammatory diseases, including auto-immune disorders, sepsis, and severe respiratory infections from COVID-19.
Reagent segment accounted for largest revenue share in 2020. These kits and reagents are first-line testing devices for at-home consumer-friendly glucose monitoring and pregnancy tests and an alternative to more complex automated laboratory-based systems. Increase in production of rapid, sensitive devices, which offer more accurate results is also driving revenue growth of this segment.
Infectious diseases segment revenue is expected to expand at the fastest rate during the forecast period due to increasing rates of mortality and morbidity. Increased research activities and high level of funding from governments worldwide to develop solutions for prevention and treatment of infectious disease is propelling revenue growth of this segment.
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Emergen Research has segmented the global in-vitro diagnostics market on the basis of product, devices, application, technique, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Reagents & Kits
Instruments
Fully Automated Instruments
Semi-Automated Instruments
Data Management Software
Services
Devices Outlook (Revenue, USD Billion; 2018–2028)
Reusable IVD Devices
Disposable IVD Devices
Application Outlook (Revenue, USD Billion; 2018–2028)
Cancer
Infectious Diseases
Diabetes
Gastrointestinal Disease
Autoimmune Diseases
Cardiac Disease
Drug Testing /Pharmacogenomics
HIV/AIDS
Nephrological Disease
Others
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The study segments the In-Vitro Diagnostics industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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