Point of Care (POC) Testing Followed by Increase in the Lifestyle Based Disease to Drive the Global
The report covers Global In Vitro Diagnostics (IVD) Market, Global In Vitro Diagnostics (IVD) Market Business Strategy, Global In Vitro Diagnostics (IVD) Market Trends by kenresearch.com
By: Ken Research
According to study, "Global In Vitro Diagnostics (IVD) Market: Drivers, Opportunities, Trends and Forecasts: 2014 – 2020" some of the major companies that are currently working in the Global In Vitro Diagnostics (IVD) market are BioMeriux S.A., Becton Dickenson & Company, Bio-Rad Laboratories Inc., Beckman Coulter Inc., Gen-Probe Inc., Sysmex Corporation, Ortho Clinical Diagnostics(
Based on the product type, the IVD market is segmented into instruments, reagents, and software & Services. Based on the technology, the market is segmented into clinical chemistry, clinical microbiology, immunoassay, molecular diagnostics, coagulation, hematology and other IVD technologies. Clinical chemistry is further sub-segmented intoliver profile, metabolic panel, thyroid function panel, electrolyte panel, lipid profile, renal panel and specialty chemistry tests. Immunoassay is further sub-segmented into Radioimmunoassay (RIA), Enzyme-Linked Immunosorbent Assay (ELISA) and western blot.
Based on the type of use market is segmented into reusable IVD devices and disposable IVD devices. Based on the test types, the market is segmented into Point-of-Care diagnostic and core laboratories diagnostics. Based on the application, the market is segmented into autoimmune disease, oncology, diabetes, drug testing, infectious diseases, nephrology and cardiology etc. In addition, based on the end-user, the market is segmented into hospitals, home care, laboratories and academics.
The IVD market is primarily driven by growing adoption of Point of Care (POC) testing, followed by increase in the based lifestyle diseases (cardiovascular diseases, tuberculosis (TB), emergence of minimal invasive technologies, cancer and diabetes), rapidly aging population, increase in automation, rapid urbanization, improvement in medical infrastructure, mounting consolidation, higher penetration of insurance cover, increasing demand for biomarker based testing. Apart from advantages, some of the market hindrances are stringent regulatory approval processes, lack of budget & labor, unclear reimbursement policies and increased sales of counterfeit glucose monitoring strips. Moreover, new opportunities such as increased sales of POC cardiac markers, growing significance of companion diagnostics, increased adoption of DNA probe based diagnostics and increased number of mergers and acquisitions supporting the significant market growth.
Globally, North America holds the largest market share of IVD market, followed by Europe due to recognition of personalized medicine & organized health care system. The Asia-Pacific region also projected to consume the largest sharedue to significant investment in research & development (R&D) activities. It is estimated that the global IVD market to reach at US$ 74.6 billion, by 2020. In forecast period it is anticipated that the market to grow at rapid pace owing to increasing in demand from the emerging countries.
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