Seattle, WA, Aug-12, 2018 — / True Industry News / —
Infectious diseases has emerged as the highest revenue contributor among application segment
Several factors driving growth of the in vitro diagnostic market include high unmet healthcare needs in categories of infectious disease, chronic disease, and other acute allergies. Furthermore, high prevalence of cancer along with high demand for lab automation is expected to support growth of the in vitro diagnostic market in the near future. In 2015, according to the National Cancer Institute, majority of share in the type of cancer was contributed by lung and bronchus cancer, followed by colon, rectum and other type of cancers. Furthermore, in 2015, around 1.7 million new cases of cancer were diagnosed in the U.S., which is propelling demand for adoption of diagnostic tests worldwide.
The IVD market is projected to witness rapid growth fueled by advancements in various diagnosing and medical devices technologies with developed tools in diagnostics, early detection of the disease along with rise in availability of over-the-counter tests. Due to the application of IVDs in medical care it adds a significant value in the planned treatment processes enhancing better health results. Furthermore, in vitro diagnostics are the sequences of tests that are able to detect diseases symptoms through which physician can conclude the type of treatment to be given to the patient in very short period of time depending upon the quality of medical. There are various government guidelines to regulate the type of in vitro diagnostic tests. According to the FDA, the in vitro diagnostic devices are regulated through the Medical Device Amendments of 1976, which further divides the in vitro diagnostic products into three class such as class I, II and III that includes the products depending upon the level of regulatory control that can assure the safety and effectiveness.
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In Vitro Diagnostics (IVD) market report provides key statistics on the market status of the In Vitro Diagnostics (IVD) manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the In Vitro Diagnostics (IVD) industry. The In Vitro Diagnostics (IVD) market report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.
Key Vendors of In Vitro Diagnostics (IVD) Market: Key companies covered as a part of this study Roche Diagnostics, Siemens Healthineers, Abbott Laboratories, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux, Becton, Dickinson and Company and Danaher Corporation
In Vitro Diagnostics (IVD) market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
Regions of In Vitro Diagnostics (IVD) market:
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The clinical chemistry product type segment in the global In vitro diagnostics (IVD) market was estimated to be the largest in 2015 and is expected to dominate throughout the forecast period in terms of value. Increasing prevalence for infectious disease due to poor infrastructure in emerging economies is expected to favor the growth of In vitro diagnostics (IVD) market in the near future.
In terms of product type, the molecular diagnostics product type segment is expected to expand at a significant CAGR of 8.2% during the forecast period, owing to rise in rise in number of research institutes and demand for novel drugs in the market
The global In vitro diagnostics (IVD) market is characterized by strategic research and development and advancements in the technology of in vitro diagnostic services including the rise in various applications over the forecast period.
Key questions answered in In Vitro Diagnostics (IVD) market report:
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
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