In-vitro diagnostics is carried out to detect any kind of infection or disease by obtaining test samples from the human body. As per the report that has been published by Market Research Future (MRFR), the global in-vitro diagnostics market is registered to expand at a notable CAGR of 6.5% during the forecast period of 2017-2023.
The in-vitro diagnostics products include reagents, instruments and any other system or equipment that is required to carry out the diagnostics procedure. The rapid increase in chronic and infectious diseases and rise in geriatric population are some of the major factors that are inducing high demand for in-vitro diagnostics in the global market, which in turn ispropelling the growth of the global in-vitro diagnostics market.
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Incorporation of advanced technology for diagnostic purposes has fastened the process altogether leading to the significant growth of the global in-vitro diagnostics market. However, strict regulatory framework imposed by the government on the manufacturing of IVD products and lack of reimbursement policies are likely to create hindrance in the growth of the global in-vitro diagnostics market during the forecast period.
Abbott (the U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Biomérieux (France), Ortho Clinical Diagnostics (the U.S.), Johnson & Johnson (the U.S.), Siemens Healthcare GmbH (Germany), Sysmex (Japan), Becton Dickinson (the U.S.), Thermo Fisher Scientific Inc. (the U.S.), Accelerate Diagnostics (the U.S.), Hycor Biomedical (the U.S.), Diagnostic Biosystems (the U.S.), Eurogentec (Belgium), Orgentec Diagnostics (US), Immunarray PVT. LTD (the U.S.), Werfen Group (Spain), Danaher Corporation (the U.S.), Bio-Rad Laboratories INC (the U.S.), StagoDiagnostica (France), Alere Inc (the U.S.)
The global In-Vitro Diagnostics Market has been segmented on the basis of techniques, application and end users. Based on techniques, the in-vitro diagnostics market has been segmented into Immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics and clinical chemistry. The immunodiagnostic segment is sub-segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIAS), fluorescence immunoassays (FIAS), colorimetric immunoassays (CIC), and radioimmunoassay (RIA) and other immune assay techniques.
Based on applications, the in-vitro diagnostics market has been segmented into infectious diseases, cancer, cardiac diseases, and immune systems disorders, nephrological diseases, gastrointestinal diseases. The infectious diseases segment is sub-segmented into acinetobacter infections, actinomycosis, hepatitis (A, B, C, D, and E) and others. The cancer segment is sub-segmented into skin, lung, brain and others. The cardiac diseases segment is sub-segmented into heart failure, cerebrovascular disease, congenital heart disease and others.
Based on end users, the in-vitro diagnostics market has been segmented into laboratories, academics and medical institutions and others.
The global in-vitro diagnostics market is geographically segmented into Americas, Europe, Asia Pacific and the Middle East and Africa. The Americas dominate the global in-vitro diagnostics market owing to the increased healthcare expenditure by the population of this region and increasing penetration of advanced technology in the healthcare sector of this region. The Europe region constitutes of second largest share in the global in-vitro diagnostics market owing to the easy adoption of advanced technology and high prevalence of chronic diseases among the population of this region. The Asia Pacific region is projecting noteworthy growth in the global in-vitro diagnostics market owing to the rapid development of the healthcare sector and increasing number of private diagnostic centers in this region. Whereas, low penetration of advanced technology in the healthcare sector of the underdeveloped areas of the Middle East and Africa region is creating hindrance in the growth of the global in-vitro diagnostics market in this region.
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In September 2018, OptraSCAN®, a leading end-to-end digital pathology solution provider, has announced that its whole-slide scanners have received CE Mark approval for in-vitro diagnostics use.