Global In Vitro Diagnostics (IVD) Market: Analysis By Product (Medical Devices, Reagents and Kits, Services), By Technology, Application, End User, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)

Date: 1 January 2020

According to a research report published by Azoth Analytics in December 2019, the Global In Vitro Diagnostics (IVD) Market was valued at USD 61700.22 million in the year 2018. Primarily, the growth in the market for In Vitro Diagnostics will be chiefly supported by ever increasing number of diseases and for identification of which diagnostics play an important role. As high-income economies like United States have increasing size of old age population, and increment in number of cancer cases, IVD market is expected to propel during the forecast period.

The Azoth Analytics research report titled “Global In Vitro Diagnostics (IVD) Market: Analysis By Product (Medical Devices, Reagents and Kits, Services), By Technology,  Application,  End User, By Region,  By Country (2019 Edition): Opportunities and Forecast (2014-2024)” has analysed and segmented the In Vitro Diagnostics Market By technology Type (Centralized and Point of care, Diabetes Care, Molecular Diagnostics, Tissue Diagnostics), Application (Infectious Disease, Non Infectious Disease), By End User (Hospital, Laboratory, Home Test, Others) and By  Product (Medical Devices, Reagents & Kits, Services). The Global In Vitro Diagnostics Market has been analysed By Region (North America, Latin America, Asia Pacific, EMEA) and By Country (US, Canada, Germany, Italy, UK, Japan, China, India, Brazil, Mexico) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Global In Vitro Diagnostics market will be majorly driven by growing number of chronic and infectious disease. Demand for fast and accurate disease diagnosis is increasing with ever growing personal healthcare expenditure in various countries across the world. Also, government funding in hospitals is increasing to provide diagnostic services, as it is cost effective and helps in reducing the hospital stay of patient along with providing precise treatment. Also, consumers awareness about good quality medical care is increasing, with increment in growth of home-based test kits like HIV test, Fertility test, glucose monitoring for diabetes. Also, IVD manufacturers are engaged in developing accurate and low cost IVD products, which is expected to enhance the IVD market in the forecast period.