Roche Diagnostics Limited (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott Laboratories (US) and Thermo Fisher Scientific (US), are the leading players in the In-Vitro Diagnostics Market
The global in-vitro diagnostics market size is projected to reach USD 96.0 billion by 2025 from USD 84.5 billion in 2020, at a CAGR of 2.6% during the forecast period. Factors such as the increased adoption of PoC IVD devices, rising elderly population base, and the growing number of infectious diseases are expected to drive the growth of the in-vitro diagnostics market.
Players in the global in vitro diagnostics industry include Roche Diagnostics Limited (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific (US), Johnson & Johnson (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), Diasorin (Italy), Ortho-Clinical Diagnostics (US), and Qiagen (Germany). These players are focusing on increasing their presence in high-growth markets through both organic as well as inorganic growth strategies, including service launches, expansions, collaborations, and partnerships.
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Roche Diagnostics Limited (Switzerland) is the leader in the global in vitro diagnostics in 2019. The company has a diversified service portfolio, which includes a wide range of in vitro diagnostics. The company operates in more globally. It has displayed a major emphasis on product launches in the past years. For instance, in September 2020, Roche Diagnostics launched SARS-CoV-2 antibody test. Similarly, in September 2020, Roche Diagnostics received FDA approval for CINtec PLUS cytology test. Receiving FDA approval for such tests has fostered company’s growth.
Abbott Laboratories (US) held the second-largest market share in the in vitro diagnostics market in 2019. The n extensive product portfolio and offers exceptional quality products to hospitals, laboratories and research institutes. To maintain its leading position and enhance its market share, the company has shown a focus on partnerships. For instance, in February 2020, the company partnered with Insulet to introduce a next-generation glucose-sensing device that ensures automated insulin delivery. Undertaking such inorganic growth strategies has positively impacted company’s growth.
Related Reports:
In-Vitro Diagnostics Market by Product & Service (Instrument, Kits), Technology (Immunoassay, MDx, Hematology, Urinalysis), Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) End User (Hospitals) - Global Forecast to 2025
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