In vitro diagnostics (IVD) is the technique of diagnostic test outside the human body in an artificial environment. The IVD market revenue is expected to reach $74.65 billion by 2020, from the market value of $53.32 billion in 2013, at a CAGR of 5.34% during 2014-2020. The global IVD market is segmented based on techniques, product type, usability, application, end user and geography (North America, Europe, Asia Pacific and Rest of World). Geographically, Asia Pacific is the fastest growing region and very opportune market that would generate highest revenue by 2020.
Increase in the number of chronic and infectious diseases, and technological advancements are the major ...view middle of the document...
Reagents market is also growing at a faster pace. As it is mostly used in various equipment and play a key role in the overall diagnosis process. Rise in the usage of diagnostic devices in which reagents are required for performing diagnosis tests, is the major factor that drives the product type market.
IVD Usability Market Analysis
Usability segment is classified as disposable and reusable IVD devices. Doctors and clinicians currently prefer disposable devices, to avoid infections. Still, reusable IVD device holds the largest revenue share in the global IVD usability market. Cost effectiveness as a benefit of reusable devices is driving the growth of usability market.
IVD Applications Market Analysis
The application area is segmented based on infectious diseases, diabetes, cancer/oncology, cardiology, autoimmune diseases, nephrology, drug testing, HIV/AIDS and others. Infectious diseases generated the highest revenue for current and forecast period mainly due to rise in the incidences of infectious diseases. HIV/AIDS application market is the second largest revenue generating applications segment and would remain the second largest through 2020.
Complete Report is Available At:
IVD End User Market Analysis
Hospitals, laboratories, academics, point of care testing and others are the end users of global IVD market. Academic institutions provide trainings of IVD to the students. Laboratories generate the highest revenue followed by point of care for global end user market. Rise in the number of laboratories in Asia Pacific regions and increased awareness about health care and its benefits are contributing towards the growth of laboratories market, which in turn drives the global IVD end users market.
IVD Geography Market Analysis
The detailed analysis of the global IVD market is done in various regions such as North America, Europe, Asia Pacific and Rest of World. North America is the largest revenue generating region in all segments of global IVD market, whereas Asia Pacific region is fastest growing region amongst the regions studied.
IVD Competitive Analysis
The study of top ten players in the global market reveals strategies adopted to maintain their position in the competitive market. Strategic analysis of the top players reveals that market players are adopting product launch as their key developmental...