MarketsandMarkets: Global In-vitro Diagnostics Market Size to Reach USD 96.0 billion by 2025

Pune , India , 2021-Dec-10 — /EPR Network/ —

The global in-vitro diagnostics market size is projected to reach USD 96.0 billion by 2025 from USD 84.5 billion in 2020, at a CAGR of 2.6% during the forecast period. Factors such as the increased adoption of PoC IVD devices, rising geriatric population, increasing number of infectious diseases, and growing awareness regarding disease diagnostics are expected to drive the growth of the in-vitro diagnostics market. However, inadequate reimbursement will restrain the growth of in-vitro diagnostics market.

Browse through 262 market data tables and 53  figures spread across 351 pages as well as the in-depth TOC on “In vitro diagnostics Market “–Global Forecast to 2025.”

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By-products and services, the reagents & kits segment is expected to dominate the in vitro diagnostics market in 2020

Based on products and services, the in vitro diagnostics market has been segmented into regents and kits, instruments, data management software and services. Within IVD market, reagents and kits accounted for the largest share and highest growth in 2020. The large share and high growth of this segment can be attributed to the superior quality of reagents enabling accurate diagnosis and thus, having high preference amongst the healthcare professionals.

By technology, the immunoassay/immunochemistry segment accounted for the largest share in the in vitro diagnostics market in 2020

Based on technology, the in vitro diagnostics market has been segmented into immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, hematology, microbiology, coagulation & hemostasis, urinalysis, and other technologies. The immunoassay/immunochemistry segment accounted for the largest share of in vitro diagnostics market. The large share of this segment can be attributed to the ability of immunoassay/ immunochemistry technologies to offer faster results with high sensitivity and accuracy.

By end user, a point-of-care testing segment is expected to grow at the highest CAGR in the in vitro diagnostics market during the forecast period

Based on end user, the in vitro diagnostics market has been segmented into hospitals, laboratories, patient self-testing, academia, point-of-care -testing others. The point-of-care testing segment is estimated to have enormous growth due to rising availability of highly efficient PoC kits. Recently launched point-of-care devices offer a precise diagnosis of chronic diseases that has raised its adoption in laboratories.

Asia Pacific is expected to grow at the highest CAGR in the in vitro diagnostics market during the forecast period

The IVD market in the APAC region is projected to register the highest CAGR of 4.1% during the forecast period. Growth in this region can be attributed to the huge demand for better healthcare services, increasing incidence of chronic and infectious diseases, rapid development in the healthcare infrastructure of developing countries such as India, China, and South Korea, growing healthcare research investments in this region, and increasing per capita income of the middle-class population in the region.

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The prominent players in the in vitro diagnostics market include Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott (US), and Thermo Fisher Scientific (US) are the leading players in this market. Other players in this market are Johnson & Johnson (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), DiaSorin (Italy), Ortho-Clinical Diagnostics (US), and QIAGEN N.V. (Netherlands).

Study Coverage

This report describes and studies the global in vitro diagnostics market based on the product and services, technology, application and end user. It provides detailed information regarding the major factors influencing the growth of this market. The report includes an in-depth competitive analysis and the product matrix of the prominent players in this market along with their company profiles, product portfolios, recent developments, and key business strategies.

“Brief information on the research methodology for the report can be found in the report description provided on the website.”