In Vitro Diagnostics Market to Reach USD 87.11 Billion by 2026; Increasing...

In Vitro Diagnostics Market to Reach USD 87.11 Billion by 2026; Increasing Prevalence of Cancer Will Enable Growth, says Fortune Business Insights – World News Report

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Key Companies Covered in the In Vitro Diagnostics Market Report Are F. Hoffmann-La Roche Ltd, Abbott, Siemens, Thermo Fisher Scientific Inc., Danaher, Bio-Rad Laboratories, Inc., QIAGEN, Sysmex Corporation, Quest Diagnostics Incorporated and other key market players.

/EIN News/ — Pune, Aug. 20, 2020 (GLOBE NEWSWIRE) — According to the report, the global In Vitro Diagnostics Market was valued at USD 61.22 Billion in 2018 is predicted to reach USD 87.11 Billion by 2026, exhibiting a CAGR of 4.5% during the forecast period.

Introduction of new techniques for disease diagnosis is a key factor driving the market, states Fortune Business Insights in a report, titled “In Vitro Diagnostics Market Size, Share & Industry Analysis, By Product Type (Instruments, Reagents & Consumables), By Technique (Immunodiagnostics, Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology and Others), By Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals, Physicians Offices, Others) and Regional Forecast, 2019-2026.”

As per the report published by Fortune Business Insights, the reagents and consumables segment is expected to hold maximum shares in the global-vitro diagnostics market during the forecast period owing to the increasing research and development activities for the diagnosis of chronic diseases.

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In addition, the escalating demand for self-test and point-of-care devices will subsequently increase the demand for reagents and consumables segment, which, will, in, turn boost the global In Vitro Diagnostics Market revenue during the forecast period.

The other highlights of the report include:

•              Targeted analysis of the impact of COVID-19 on the market;

•              Detailed study of the factors, trends, and constraints shaping the market;

•              Careful evaluation of the regional dynamics influencing the market; and

•              Thorough profiling and examination of the key market players and their strategies.

The global economy is in absolute turmoil because of the COVID-19 pandemic outbreak. Some industries remain largely unaffected by the outbreak, some are thriving, but most are in doldrums. Although the healthcare industry is flourishing, certain markets within the industry are experiencing staggered growth. Wading through these troubled times is a difficult task and Fortune Business Insights™ aims at equipping your business with the most comprehensive market insights, collated and analyzed by our expert and experienced research team.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Increasing Prevalence of Chronic and Infectious Disease Will Enable Growth

The launch of diagnostic and rapid testing tools by leading market players will propel growth of the global In Vitro Diagnostics Market. For instance, Thermo Fisher Scientific launched Phadia 200 for diagnosis of allergy & autoimmune conditions. The launch of Phadia 200 is anticipated to increase the revenue of the company.

According to the report, the reagents and consumables segment will account for a major portion in the global In Vitro Diagnostics Market during the forecast period owing to the adoption of self- test and point-of-care devices. Furthermore, the instrument segment is likely to grow at a moderately slower pace during the forecast period. Rising technological advancement is predicted to aid growth of the segment.

Moreover, the increasing cases of cancer and infectious disease around the world will further accelerate global In Vitro Diagnostics Market growth.

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Launch of Altostar Molecular Diagnostics Workflow Will Boost Growth

Altona Diagnostics GmbH, molecular diagnostic testing solutions company launched a CE-IVD marked AltoStar Molecular Diagnostics Workflow. AltoStar Molecular Diagnostics a flexible and efficient automatic system that automates the entire workflow from sample preparation up to analysis.

Fortune Business Insights states the launch of CE-IVD marked AltoStar Molecular Diagnostics Workflow is expected to boost the In Vitro Diagnostics Market revenue. Furthermore, the oncology segment is likely to grow at a considerable rate during the forecast period.

Rising adoption and availability of advanced home care kits such as fecal occult blood test (FOBT) for diagnosis of colon cancer in homecare settings is one of the major factor likely to fuel demand for the oncology segment, which, will, in turn, uplift the global In Vitro Diagnostics Market shares

The Major Companies In The Global In Vitro Diagnostics Market Include:

  • F. Hoffmann-La Roche Ltd
  • Abbott
  • Siemens
  • Thermo Fisher Scientific Inc.
  • Danaher
  • Bio-Rad Laboratories, Inc.
  • QIAGEN
  • Sysmex Corporation
  • Quest Diagnostics Incorporated
  • Other Prominent Players

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Market Segmentations:

By Product Type

•              Instruments

•              Reagents & Consumables

By Technique

•              Immunodiagnostics

•              Clinical Chemistry

•              Molecular Diagnostics

•              Point of Care

•              Hematology

•              Others

By Application

•              Infectious Diseases

•              Cardiology

•              Oncology

•              Gastroenterology

•              Others

By End User

•              Clinical Laboratories

•              Hospitals

•              Physician’s Offices

•              Others

By Geography

•              North America (U.S. and Canada)

•              Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

•              Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

•              Latin America (Brazil, Mexico, and Rest of Latin America)

•              Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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