(PharmaNewsWire.Com, December 21, 2017 ) The in vitro diagnostics market is estimated to represent a global market of USD 59.78 billion by 2017 with growth rate of 6.2%. In-Vitro Diagnostics market covers the market understanding for the instruments and reagents that can be used for the diagnosis of chronic disease conditions. As per the U.S. FDA, in vitro diagnostics is defined as the types of instruments, reagents and systems which is intended to be used for the diagnosis of chronic disease conditions. This technique is intended for the detection and analysis of collected, prepared and examine specimens extracted from the human body.
In vitro diagnostics are considered under medical devices category under section 210(h) of the United States Federal Food, Drug, and Cosmetic Act. This devices are subjected to pre-market and post-market approval under the Clinical Laboratory Improvement Amendments act (CLIA '88) of 1988.
In terms of application segment covers the market analysis for Immunochemistry, Hematology, Microbiology, Molecular Diagnostics, Clinical Chemistry, Hemostasis, and others. Products segment is divided as instruments and reagents. Reagents segment recorded highest share with more than 75% share of the total market. Growing use of reagents in IVD test tools coupled with rising usage of its drives the market growth.
Companies such as Siemens, Danaher Corporation, Roche Diagnostics, bioMérieux, and Abbott are profiles in the report. Companies are engaged in rigorous research and development initiatives to expand their presence in market. In September 2016, Danaher Corporation acquired Cepheid for more than USD 4 billion which have helped company to expand its market share in IVD market significantly. Cepheid is a leading provider of molecular diagnostics kits and tests. Danaher's president stated that the engagement with Cepheid will help company to strengthen its business into disease diagnosis segment.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2016 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2017 to 2025 for every reported segment. The years considered for the study are: Historical Year - 2014 & 2015 Base Year - 2016 Estimated Year - 2017 Projected Year - 2025 TARGET AUDIENCE Traders, Distributors, And Suppliers Manufacturers Hospitals Government and Regional Agencies and Research Organizations Consultants Distributors
IN VITRO DIAGNOSTICS MARKET OVERVIEW Study Scope Base Year Assumption and Methodology EXECUTIVE SUMMARY Key Market Facts Geographical Scenario Companies in the Market IN VITRO DIAGNOSTICS KEY MARKET TRENDS Market Drivers Impact Analysis of Market Drivers Market Restraints Impact Analysis of Market Restraints Market Opportunities Market Future Trends IN VITRO DIAGNOSTICS INDUSTRY STUDY Company Activity Analysis Regulatory Framework Analysis Value Chain Analysis IN VITRO DIAGNOSTICS MARKET LANDSCAPE and More.
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