In-Vitro Diagnostics Instruments Market Is Evolving With High Growth Rate of CAGR 6.7% by 2026

In vitro diagnostics (IVD) instruments are medical devices used to perform tests to detect diseases and infections by examining specimens of human body fluids such as urine, blood, tissues, stool, etc. It helps diagnose, determine health condition in order to cure, treat or prevent from diseases or sequelae, and monitor drug therapies. IVD instruments hold great importance in global healthcare industry. It helps protect health and safety of patients by serving best medical services. Thus, they add remarkable value to treatment processes and diagnoses and enhances well-being of consumer patients and population as a whole. Thus, the global in-vitro diagnostics instruments market is witnessing rapid growth in the global healthcare market.

The global in-vitro diagnostic instruments market is projected to reach a value of over US$ 13,000 Mn in 2026 at a CAGR of 6.7% over the forecast period. The global in-vitro diagnostic instruments market report has been segmented on the basis of type, material, design, application, and region.

On the basis of product type, immunochemistry segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 7% over the forecast period. On the basis of end user, hospitals and diagnostic laboratories segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 7% over the forecast period

High demand for automation and integration of multiple processes driving new product development, and increasing demand for personalized medicine are key factors driving growth of the global in-vitro diagnostics instruments market during the forecast period. Rising prevalence of chronic diseases and infections such as all types of cancer, tuberculosis, malaria, diabetes, and cardiovascular diseases is another major factor fueling growth of the global in-vitro diagnostics instruments market. Moreover, rising awareness among people, increasing geriatric population, increasing number of private diagnostic centers, more focus on decentralized point-of-care testing instead of centralized laboratories to strengthen consumer patients base, continuous technological advancements, better IVD instruments, improvised treatment monitoring, and availability of OTC tests are key factors driving the global in-vitro diagnostics instruments market growth. However, US medical devices tax policies resulting in reduction of profits for manufacturers, poor reimbursement policies and high-cost involved in R&D of technologies are major challenges restraining growth of this market.

North America market dominates the global in-vitro diagnostics instruments market owing to rapid changing lifestyle, increased smoking and alcohol consumption, and unhealthy food habits. Asia Pacific market is expected to witness exponential growth owing to increasing investments by healthcare organizations and governments, medical tourism and efforts by key players to strengthen consumer base in this region. The Americas market is expected to dominate the global in-vitro diagnostic instruments market in revenue terms, and is estimated to account for largest market revenue share of over 30% in 2017 as compared to that of markets in other regions.

Among the product type segments, immunochemistry segment accounts for highest share as it is highly automated segment of clinical laboratories. Among end user segments, hospitals and diagnostic laboratories segment accounts for highest market share and will continue to dominate the market during the forecast period as they provide a proper laboratory setting, where data obtained from patient samples is used for analysis and development of personalized medicines.

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Key players include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., BioMérieux, Becton, Dickinson and Company, Johnson and Johnson, Qiagen N.V., Ortho-Clinical Diagnostics Inc., and Diasorin S.P.A.

Table Of Content:

1.0 Chapter 1

  • 1.1 Preface
  • 1.2 Assumptions
  • 1.3 Abbreviations

2.0 Chapter 2

  • 2.1 Report Description
    • 2.1.1 Market Definition and Scope
  • 2.2 Executive Summary
    • 2.2.1 Market Snapshot, By Product
    • 2.2.2 Market Snapshot, By End User
    • 2.2.3 Market Snapshot, By Region

3.0 Chapter 3

  • 3.1 Global In-Vitro Diagnostics Instruments Market Dynamics
    • 3.1.1 Drivers
    • 3.1.2 Restraints
    • 3.1.3 Opportunities
    • 3.1.3 Trends
    • 3.1.4 PEST Analysis
    • 3.1.5 PORTER’S Five Forces Analysis

4.0 Chapter 4

    • 4.0.1 Global In-Vitro Diagnostics Instruments Market Analysis, by Product
    • 4.0.2 Overview
    • 4.0.3 Segment Trends
    • 4.0.4 Market Share and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Million)
  • 4.1 Immunochemistry
    • 4.1.1 Overview
    • 4.1.2 Market Share and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Million)
  • 4.2 Clinical Microbiology

TOC Continue….

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