In vitro diagnostics or IVD are
medical tests which are done on some samples for instance blood or tissue that
have been taken from the human body. It can identify diseases or other
conditions. It can be used to observe patient’s overall health to help cure,
treat, or prevent diseases. It includes next generation sequencing tests, which
scan patient’s DNA to detect genomic distinctions.
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(Carlyle
Group), Luminor Medical Technologies Inc., Transasia Bio-Medicals Ltd., Abbott
Laboratories, Diagnostica Stago SAS, Diasorin Diagnostic S.P.A., Ranbaxy
Diagnostics, Hologic Inc., Roche Diagnostics Ltd., Toshiba Medical Systems
Corporation, Novartis International AG, Olympus Diagnostics, Kimberly-Clark
Corporation, Targeted Diagnostics & Therapeutics Inc., Sigma Aldrich,
Hitachi, Luminex Corp., Accurex, Wipro Biomed, Verax Biomedical Inc., Danaher
Corporation, Bayer Healthcare, Horiba Inc., Qiagen NV, Alere Inc., Nicholas
Piramal, Johnson and Johnson, Siemens Healthineers Inc., Mindray Medical
International Ltd., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd.
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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