The market is estimated to grow with a CAGR of 5.8% and is expected to reach US$ 107,658.83 Mn from 2020-2027. The report highlights the trends prevalent in the global In-Vitro Diagnostics market and the factors driving the market along with those that act as deterrents to its growth. However, lack of healthcare infrastructure and reimbursement policies are likely to restrain the market growth to a certain extent.
The In-Vitro Diagnostics market by product & services is segmented into instruments, reagents & kits, and software & services. In 2019, the reagents & kits segment held a largest market share of 80.2% of the In-Vitro Diagnostics market. This segment is also expected to dominate the market in 2027 owing to increasing number of diagnostics tests and increasing prevalence of chronic conditions. Moreover, the instruments segment is anticipated to witness the considerable growth rate of 2.4% during the forecast period. Certain factors such as developing healthcare infrastructure and growing demand for rapid disease diagnosis are expected to drive the segment growth.
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Top Companies – In-Vitro Diagnostics Market
- F. Hoffmann-la Roche Ltd.
- Siemens AG
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
- Biomérieux SA
- Bio-Rad Laboratories, INC.
The market players are focused towards bringing new and innovative products to sustain their position in the market. For instance, in November 2015 Roche launched an in vitro diagnostic instrument namely VENTANA HE 600 system. The newly launched product is fully automated hematoxylin and eosin (H&E) tissue staining system which enhances patient and technician safety and produces exceptional staining quality.
This market research report administers a broad view of the In-Vitro Diagnostics Market on a Global basis, presenting a forecast and statistics in terms of revenue during the forecast period. It covers an illustrative study with detailed segmentation, complete research and development history, latest news and press releases. Additionally, it demonstrates the future aspects and portrays a sketch of the key players involved in the In-Vitro Diagnostics Market’s growth in terms of revenue.
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