The global in-vitro diagnostics market was valued at USD 62.3 billion in 2016 and market is projected to grow at a compound annual growth rate of 5.6% during the forecast period 2019 to 2024. The global in vitro diagnostics market segmented such as product type, technique, therapeutic application, end user, and geography. The products are further sub-segmented as, instruments, reagents & consumables, data management software, and services.
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The major techniques covered in the reports are immunoassay, clinical chemistry, microbiology, molecular diagnostics, hematology, coagulation & homeostasis and Others. The global in vitro diagnostics market further segmented by the therapeutic application such as infectious diseases, cancer/oncology, endocrinology, cardiology, diabetes, nephrology and others. The report covers market share of end users of in vitro diagnostics market such as, hospitals, clinical laboratories, academic & research institutes, physician offices, patient-self testing and others. The report includes an extensive market analysis for Americas, Europe, Asia-Pacific and Africa and Middle-East.
Global in vitro diagnostics market is driven by the factors such as growing prevalence of various life style, chronic and age-related diseases, ease of testing various parameters at home or doctor’s office increasing the trend of point of care IVD market, large number of companies with the varied range of devices and reagents etc. The growth of the market is hindered by factors such as increasing quality product cost etc.