HYDERABAD, India, August 15, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the in-vitro diagnostics (IVD) market. The report titled, Global IVD Market - Growth, Trends and Forecasts (2016 to 2021) discusses the current landscape and outlook of the said market.
The global IVD market is estimated to account to USD 74.69 billion in 2016 and is forecasted to reach USD 96.93 billion by 2021, growing at a CAGR of 5.35% during the forecast period (2016-2021). The report is an amalgamation of the current market scenario, its prospects and factors driving and restraining the market growth. It provides deep insights on the North America, Europe, Asia-Pacific, Middle East & Africa IVD markets.
The United States and Europe currently dominate the market owing to its increasing healthcare expenditure and its improved clinical laboratory infrastructure. The United States accounts for around 25 billion market revenue, contributing to around 35% of the global IVD market. The Patient Protection and Affordable Care Act (PPACA) is expected to drive test volumes in clinical laboratories and increase the percentage of people with insurance coverage in US. Nevertheless, there could be a rise in the IVD market share from the emerging economies as companies focus to capitalize on untapped markets.
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The global IVD market has been segmented by techniques (clinical chemistry, immunoassay, microbiology, hematology, molecular diagnostics, coagulation, point of care and others), by products (instruments, consumables and others), by end-users (academics, laboratories, point of care testing, and Biotechnology/pharmaceutical) by applications (diabetes, cancer, cardiology, autoimmune diseases, drug testing and others) and by geography (North America, Europe, Asia-Pacific, Middle East & Africa and Rest of the World).
The leading market players in IVD sector are Danaher Corporation, BioRad Laboratories, Becton, Dickinson & Company, Roche, Alere Incorporated, Abbott Laboratories, among others.
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