Global IVD Market - Description In vitro diagnostics (IVD) tests are medical devices (instruments, reagents, and systems) intended to determine medical information for the diagnosis of a disease or condition. IVD tests are performed outside living organisms in a controlled environment on samples derived from the human body. These samples include blood, urine, saliva, tissue, stool, and cerebrospinal fluid. IVDs range from large complex automated laboratory systems to relatively portable near-patient testing kits that deliver rapid results to healthcare professionals. Based on the technology IVD market is segmented into clinical chemistry, immunochemistry, molecular diagnostics, hematology, coagulation, microbiology, and others. Based on applications, the IVD market is segmented as diabetes, infectious diseases, oncology, cardiology, nephrology, auto-immune diseases, AIDS, drug testing, and others. The end-user segment of the IVD market comprises of Laboratory testing, hospital testing, academic (AMCs and university) testing, point-of-care testing, patient self-testing, and others. By product types, the IVD market has segments like instruments, reagents, data management software/hardware, and services. The global IVD market was valued at $49.2 billion in 2012 and is expected to reach $69.1 billion by 2017, at a CAGR of 7% from 2012 to 2017. The IVD market is primarily driven by rising incidence of chronic and infectious diseases in emerging economies, rapidly aging population, rise in Point-of-Care testing and increasing acceptance of personalized medicine. The development of a large variety of reagents and analytical techniques are the other factors leading to the growth in the IVD market. However, decreased government funding, reimbursement cut and stringent regulatory framework are the major factors restraining the growth of the IVD market. The global IVD industry has witnessed many of technological advancements over the last two decades and this trend is expected to continue in the future, thus helping to overcome present challenges and meet the needs of the market. In the forecast years the IVD market is expected to see an increasing trend towards the total laboratory automation (TLA) and modular automation to minimize non-value-added steps employing user-friendly steps to conduct tests. Some large laboratory chains are now shifting towards this complete automation. However, such automation process requires a huge financial commitment which is a major challenge. The key players in the global IVD market includes Abbott Laboratories, Inc. (U.S.), Roche Diagnostics Limited (Switzerland), Becton, Dickson and Company (U.S.), Siemens Healthcare (Germany), Diagnostica Stago SAS (France), Danaher Corporation (U.S.) and Thermo Fisher Scientific, Inc. (U.S). The growth opportunities in the IVD market have appealed many IVD manufacturers resulting in numerous mergers and acquisitions in the past. Over the past few years, some small players with exclusive technology are being purchased by the key companies and new entrants have followed the strategy of developing novel technology and products to sustain in the market. The companies are adopting this approach primarily for the expansion of their product portfolio and presence in the global IVD market. IVDs play a very critical role in healthcare for predictive testing, diagnosis, screening, and treatment monitoring. Factors such as the continuous technological advancements in the field of diagnostics and an increase in healthcare awareness have made IVD testing an indispensable tool in current medical practices. Further rising interest in personalized medicine, increasing application of genetic testing in the diagnosis of oncology and infectious diseases, increasing number of hospitals, increasing healthcare spending from emerging countries and technological advancements in genomics, proteomics, and molecular pathology is driving interest of the companies in the IVD market thereby creating new market opportunities.   see less

Global IVD Market - Description In vitro diagnostics (IVD) tests are medical devices (instruments, reagents, and systems) intended to determine medical information for the diagnosis of a disease or condition. IVD tests are performed outside living organisms in a controlled environment on samples der ....see more

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