In-Vitro Diagnostics Market to Watch Post-COVID | United States
Introduction of new techniques for disease diagnosis is a key factor driving the global in-vitro diagnostics market, states Fortune Business Insights in a report, titled “In-vitro Diagnostics Market” Size, Share & Industry Analysis, By Product Type (Instruments, Reagents & Consumables), By Technique (Immunodiagnostics, Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology and Others), By Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals, Physicians Offices, Others) and Regional Forecast, 2019-2026.” According to the report, the global in-vitro diagnostics market Size was valued at USD 61.22 Billion in 2018 is predicted to reach USD 87.11 Billion by 2026, exhibiting a CAGR of 4.5% during the forecast period.
As per the report published by Fortune
Business Insights, the reagents and consumables segment is expected to hold
maximum shares in the global-vitro diagnostics market during the forecast
period owing to the increasing research and development activities for the
diagnosis of chronic diseases. In addition, the escalating demand for self-test
and point-of-care devices will subsequently increase the demand for reagents
and consumables segment, which, will, in, turn boost the global in-vitro
diagnostics market revenue during the forecast period.
The report offers an elaborative
overview of the trends prevailing in the in-vitro diagnostics industry. It also includes exclusive data which
provides information about the in-vitro diagnostics market dynamics and
competitive landscape. The report gives weightage to the segmentation in the
global in-vitro diagnostics market and provides proficient facts and figures
besides offering informative tools to assist companies in their overall
business growth.
Get Request a Sample Copy of the In-Vitro Diagnostics
Report:
|
North America |
United States, Canada and Mexico |
|
Europe |
Germany, UK, France, Italy, Russia and Turkey
etc. |
|
Asia-Pacific |
China, Japan, Korea, India, Australia, Indonesia,
Thailand, Philippines, Malaysia and Vietnam etc. |
|
South America |
Brazil, Argentina, Columbia etc. |
|
Middle East & Africa |
Saudi Arabia, UAE, Egypt, Nigeria and South
Africa |
IVD products, for example, are utilized in facilities such as standalone labs, hospitals, and for point-of-care testing. In vitro testing technique necessitates the use of several reagents as well as the usage of software to ensure seamless operations. Furthermore, in vitro diagnostics are utilized to diagnose a wide range of medical disorders, including infectious diseases, diabetes, oncology/cancer, cardiac diseases, autoimmune diseases, nephrology, and HIV/AIDS.
The growth of the IVD market is majorly driven due to rise in incidences of chronic and infectious diseases. In the current business scenario, there is an increase in incidences of chronic diseases such as tuberculosis (TB), cancer, cardiovascular diseases, and diabetes. In addition, there is a substantial rise in the number of patients suffering from infectious diseases, such as gastrointestinal, respiratory, and STDs (sexually transmitted diseases). The increase in these diseases is expected to increase the demand for diagnostic devices, which drives the IVD market.
BD Declares FDA Emergency Use Authorization for Mixed COVID-19, Flu Rapid Antigen Test
Becton, Dickinson
and Company, BD, which is a prominent worldwide medical technology corporation,
made an announcement regarding the approval by the U.S. Food and Drug
Administration (FDA) emergency use authorization (EUA) for a novel, quick
antigenic test that can identify infections such as SARS-CoV-2 and influenza A
and influenza B in just one test. The BD Veritor™ system for the quick
revealing of SARS-CoV-2 & influenza A as well as B type-examination
consumes nearly 15 minutes and differentiates amid SARS-CoV-2, influenza A and
influenza B, by delivering conclusive affirmative or negative distinct digital
display details for the above-mentioned tests. The company strategizes to
introduce a novel test for the next virus season. The test is envisioned for
entities who are doubted by a medical worker of being infected by COVID-19 or
influenza A or B within a week of indication arrival. This test follows a
similar, easy workflow as other quick examinations on the BD Veritor™ Plus
System with an outcome in roughly 15-20 minutes.
More than 70,000
in-use BD Veritor Systems exist at clinics, hospitals, emergency care centers,
nursing facilities, pharmacy centers, educational facilities, industries, and
additional testing sites in all the U.S. states. The system is marginally
bigger than a mobile device, contains single-button operation, workflow
elasticity, and is simple to function. It is a perfect key for testing even in
the absence of a healthcare guide. It further presents consumers' real-time
notifying abilities by the voluntary BD Synapsys™ Informatics Solution,
offering them the capability to effortlessly note data for sickness monitoring
and observation motives. Such innovations are likely to aid In vitro Diagnostics
market growth.
Major In-Vitro Diagnostics Market Key players covered in the
report include:
- Thermo
Fisher Scientific Corporation
- Life
Technologies Corporation
- Biomerieux
SA
- Gen-Probe
Incorporated
- Becton
Dickinson
- Johnson
& Johnson
- Abbott
Increasing
Prevalence of Chronic and Infectious Disease Will Enable Growth
The launch of diagnostic and rapid
testing tools by leading market players will propel growth of the global
in-vitro diagnostics market. For instance, Thermo Fisher Scientific launched
Phadia 200 for diagnosis of allergy & autoimmune conditions. The launch of
Phadia 200 is anticipated to increase the revenue of the company. According to
the report, the reagents and consumables segment will account for a major
portion in the global in-vitro diagnostics market during the forecast period
owing to the adoption of self- test and point-of-care devices. Furthermore, the
instrument segment is likely to grow at a moderately slower pace during the forecast
period. Rising technological advancement is predicted to aid growth of the
segment. Moreover, the increasing cases of cancer and infectious disease around
the world will further accelerate global in-vitro diagnostics market growth.
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