The global In-vitro diagnostics instruments market was sized over USD 23.79 billion in 2015. The global In-vitro diagnostics instruments market is projected to grow with a CAGR of 9.3% over the forecast period of 2017 to 2023.
Figure 1: Global In-vitro Diagnostics Instruments Market by Value 2015 - 2023
Growing elderly population, rise in occurrence and frequency of chronic diseases and infections, rise in diagnoses population is due to increase in disease like malaria, diabetes, Cancer, tuberculosis, and cardiovascular disease. Adoption of Point-Of-Care testing has increased because of growing awareness of personalized medicine are likely to drive the growth of market. In addition, increasing awareness among the patients, technological innovations and advancement, are expected to positively affect the market growth over the forecast period. Moreover, increasing healthcare costs and lowering compensation affecting instrument sales are the key factors restraining the growth of this market. Increasing investments in emerging economies and increasing implication of friendly diagnosis are likely to bring more opportunities to this market.
The report segments the In-vitro diagnostics instruments market by product and by end user. Market segmentation based on product includes immunochemistry, clinical microbiology, POCT, tissue diagnostics, molecular diagnostics, hematology, hemostasis and SMBG. Moreover, the global In-vitro diagnostics instruments market based on end user is segmented into hospitals and diagnostic laboratories, homecare and academic and research institutes.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as Americas, Europe, Asia-Pacific and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.
Figure 2: Global In-vitro Diagnostics Instruments Market by Region
Americas was the largest market among the geographies due to developed healthcare systems in the U.S. & Canada, and rising acceptance of technologically advanced products in this region. Following the Americas and Europe were also accounted to have a strong hold on global in-vitro diagnostics instruments market. Furthermore, these regions are expected to have a moderate growth rate over the forecast period. Moreover, Asia-Pacific region is expected to grow at a highest CAGR, due to the growth in research activities and increasing investments by leading players in the region. Moreover, Middle East and Africa (covered in ROW region) is expected to grow gradually over the forecast period due to rapid industrialization and changing lifestyle of the consumers in Brazil and other countries.
The companies covered in the report include Abbott Laboratories, Inc., Siemens AG, Sysmex Corporation, Becton, Dickinson and Company, Ortho-Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Thermo Fisher Scientific, Inc., Qiagen N.V., Johnson & Johnson, Roche Diagnostics, Diasorin S.P.A., Biomérieux SA.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of In-vitro diagnostics instruments globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of In-vitro diagnostics instruments.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the In-vitro diagnostics instruments market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market strategies of the leading players. This report will help manufacturers, suppliers and distributors of the In-vitro diagnostics instruments market to understand the present and future trends in this market and formulate their strategies accordingly.
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