In Vitro Diagnostics Market

About

In vitro diagnostics are tests done on samples such as blood or tissue that have been taken from the human body. In vitro diagnostics can detect diseases or other conditions, and can be used to monitor a person’s overall health to help cure, treat, or prevent diseases.

In vitro diagnostics may also be used in precision medicine to identify patients who are likely to benefit from specific treatments or therapies. These in vitro diagnostics can include next generation sequencing tests, which scan a person’s DNA to detect genomic variations.

Some tests are used in laboratory or other health professional settings and other tests are for consumers to use at home.

Players

  • Abbott (US)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Biomérieux (France)
  • Ortho Clinical Diagnostics (US)
  • Johnson & Johnson (US)
  • Siemens Healthcare GmbH (Germany)
  • Sysmex (Japan)
  • Becton Dickinson (US)
  • Thermo Fisher Scientific Inc. (US)
  • Accelerate Diagnostics (US)
  • Hycor Biomedical (US), Diagnostic Biosystems (US), Eurogentec (Belgium), Orgentec Diagnostics (US), Immunarray PVT. LTD (US), Werfen Group (Spain), Danaher Corporation (US), Bio-Rad Laboratories INC (US), Stago Diagnostica (France), Alere Inc (US), and Others.

Key Figures

• 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.
• North American IVD market is expected to grow from $31.1 billion in 2017 to $36.9 billion in 2022 at a CAGR of 3.4% for the period 2017-2022.
• Asia-Pacific IVD market is expected to grow from $18.5 billion in 2017 to $34.8 billion in 2022 at a CAGR of 13.5% for the period 2017-2022.

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Drivers

  • Growing healthcare expenditure (aging population and emerging markets)
  • Strong Demand for Advanced genetic testing (Molecular Diagnostics) securing future IVD growth
  • Line Extending product updates fuels growth
  • PoCT provides a focus growth of diagnosing life threatening disease closer to the patient
  • Automation and Integration