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In-Vitro Diagnostics Market Application, Analysis, Trends , Demand And Forecast To 2028

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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.

Rising need for surgical procedures is expected to fuel market growth. Increased awareness about personalized medicine and adoption of point-of-care testing is also contributing to in-vitro diagnostics market growth. However, stringent regulatory framework and unfavorable reimbursement policy could negatively impact market growth. Moreover, shortage of skilled professionals to perform diagnostic tests effectively and lack of training programs are hampering adoption of in-vitro diagnostics products.

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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.

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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

    1. Fully Automated Instruments

    2. 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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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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About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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