The global in vitro diagnostics (IVD) market should reach $102.4 billion by 2022 from $74.1 billion in 2017 at a compound annual growth rate (CAGR) of 6.7%, from 2017 to 2022.
The scope of this study is global. BCC Research analyzes each market and its applications, regulatory environment, technologies involved, market projections and market shares. The emerging markets discussed include countries such as India, China, Korea, Taiwan, Africa, Australia, Brazil, and Russia, among others. The report also examines the IVD market drivers as well as restraints and challenges affecting its growth. Further, the report also highlights the emerging products and technologies and associated start-ups that are likely to accelerate the growth of the IVD industry through their best practices in the research and development of IVDs. Excluded from this study is diagnostic testing such as imaging, veterinary diagnostics and their associated products.
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This study will provide information on these areas:
- Structure and current market size of the IVD market as outlined with forecasts through 2022.
- Impact of chronic diseases, growing and aging populations.
- Current technology and product suppliers and key innovations.
- A look at the IVD industry and trends affecting the market.
- Markets by each segment (immunochemistry, molecular diagnostics, POC tests, clinical microbiology, hematology and tissue diagnostics) provide a global overview showing market data for the U.S., Europe, Asia-Pacific and Latin America, Africa and the Middle East (LAAM) regions.
- Emerging opportunities and potential investment opportunity areas for IVD.
- Technology patent trends relating to IVD.
- Profiles for more than 20 companies in the industry with significant contributions and market shares.
- 50 data tables and 9 additional tables
- An overview of the global markets and related technologies for in vitro diagnostics.
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
- Detailed coverage of application areas, end users, and factors influencing and inhibiting demand for IVD.
- Information about IVD products, including reagents, instruments, and data management software and services.
- A look at how the rise in the number of diseases like respiratory infections, hospital acquired infections (HAI), and sexually transmitted diseases are creating a constant need for infectious disease testing in hospitals and laboratories.
- Segmentation into immunochemistry, clinical chemistry, SMBG, POC, MDx, hematology, microbiology, hemostasis, and tissue diagnostics.
- Application analysis: Diabetes, infectious, oncology, cardiology, and neurology.
- Profiles of major players in the industry.
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In vitro diagnostics (IVD) are of utmost importance in the global healthcare industry and are the highest revenue segment of the medical devices market valued in the multi-billion-dollar range. IVD includes analyzers, reagents, disposable and reusable products, and accessory software products used by both clinical and research laboratories around the world. IVDs range from simple self-use tests to state-of-the-art genomic tests performed in laboratories, and can be used in the diagnosis of infectious and chronic diseases, as well as for preventive care and drug therapy monitoring.
IVDs are of significant value to the general public as they are deemed not only as indispensable tools of medical diagnoses but also as decision-making aids for disease prevention and timely treatment to enhance well-being and keep health care costs under check. In addition, the IVDs are also one of the vital aids that address the needs of the governments, payers, and patients by delivering optimal, individualized and affordable treatments.
These factors and rapid technological developments should drive the growth of the IVD market in the next five years. The market is also expected to be driven by the aging demographics of the developed world, the rising demand and improving healthcare infrastructure in the developing world, and most importantly is being driven by the shift from curative to preventive healthcare for both infectious and chronic diseases such as diabetes. Further, two emerging segments of IVDs: companion diagnostics and next-generation sequencing techniques, are expected to contribute to the market growth of IVDs through the decade.
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