- The oncology segment under the applications category is set to account for a notable share of global in-vitro diagnostics market over the forecast period
- Increase in incidence of cancer and other such infectious diseases is set to drive research and development in the field, propelling growth in the market
ALBANY, N.Y., Aug. 19, 2020 /PRNewswire/ -- The global in vitro diagnostics market is set to witness a notable increase in its worth over the forecast period of 2017 to 2025, owing to a sturdy compound annual growth rate of 5.60% anticipated to drive the market on a higher trajectory. A slew of factors such as positive transformations in medical and healthcare industries are supporting the projected market growth over the stated period.
As per Transparency Market Research, "Development of state-of-the-art diagnostics facilities is a major growth factor in the global in-vitro diagnostics market. As technology advances and players get comfortable with digital tools and techniques, the market would only grow further."
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Key Findings of Global In-vitro Diagnostics Market Study:
For a detailed analysis of global in-vitro market by technology, application, end-user, and region, visit TOC at https://www.transparencymarketresearch.com/report-toc/1395
Key Drivers of Growth in Global In-vitro Diagnostics Market:
Analyze global in-vitro diagnostics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Regional Analysis of Global In-vitro Diagnostics Market:
Competitive Landscape of Global In-vitro Diagnostics Market:
Some of the distinguished players operating in the vendor landscape of global in-vitro diagnostics market who are also covered comprehensively by Transparency Market Research are Becton Dickinson and Company, Thermo Fisher Scientific Corporation, Sysmex Corporation, Danaher Corporation, Siemens Healthineers, Diasorin, and Biomerieux SA.
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A number of players in the market are directing efforts towards educating people so that they are aware of relevance of testing. It is pertinent to note here that a host of other measures are being used by market players to lay claim to higher share of global in-vitro diagnostics market. Increasing research and development (R&D) activities and growing advancement in technology are critical growth factors for players. Innovation holds a prominent place in overall growth strategy for most notable players.
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By End User:
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Molecular Diagnostics Market: According to the report, the global molecular diagnostics market is anticipated to witness a staggering 11.6% CAGR during the forecast period of 2017 to 2025. Additionally, the report states that the market is projected to grow from US$ 7.1 Bn in 2016 to US$ 18.9 Bn by the end of 2025. This shows that the market has massive growth potential, which is the major reason that is attracting new players in the global molecular diagnostics market.
Point-of-care Diagnostics Market: The point-of-care diagnostics market is predicting substantial growth during the forecast period of 2016-2024 with the rise in COVID-19 testing as a significant growth factor. Other factors supporting the growth of the point-of-care diagnostics market are the increased prevalence of infectious diseases such as tuberculosis, AIDS, etc. and the rising incidences of target conditions. The increasing demand for rapid diagnostics among the general populace is also assisting the growth of the point-of-care diagnostics market.
Immunoassay Market: As per the research report, in 2017, the global market for immunoassay stood at US$ 16.54 Bn and is estimated to reach a value of US$ 28.61 Bn by the end of 2026. The market is further estimated to exhibit a healthy 6.20% CAGR between 2018 and 2026. The North America market for immunoassay is estimated to hold a key share of the market, further followed by Europe. The strong growth of Europe and North America can be ascribed to the presence of well-established healthcare infrastructure and the development of the biotechnology industry.
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