The report focuses on "In Vitro Diagnostic (IVD) Market [Instruments, Reagents & Data Management Systems] [Technique (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Hematology) & Applications (Diabetes, Infectious Diseases, Cancer & Cardiology)] Systems, End Users] Forecast To 2017"
Factors such as the continuous technological advancements in the field of diagnostics and an increase in healthcare awareness have made In Vitro Diagnostic testing an indispensable tool in current medical practices.
In the report, the market has been segmented on the basis of technology, product type, application, and end-users. On the basis of technology, the molecular diagnostics market is expected to grow at the highest CAGR from 2012 to 2017. The advancements in molecular techniques, increasing awareness and acceptance of personalized medicines, rise in the occurrence of chronic diseases, and the need for the diagnosis of such diseases at early stages are the key factors driving the growth of the molecular diagnostics market. On the other hand, the development of a large variety of reagents and analytical techniques, and inexpensive automated testing known as point-of-care (POC) are the factors leading to the growth in the reagents market.
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The oncology diagnostics market is the fastest growing segment in in vitro diagnostic applications. Major players such as Roche Diagnostics, Siemens Healthcare, and Hologic are continuously launching new in vitro diagnostics products for the detection of cancer. In addition, point-of-care (POC) testing is also gaining popularity and is poised to grow at a high single-digit CAGR in the coming years.
Geographically, the Americas commanded the largest market share, followed by Europe. The increase in the diagnosis of chronic lifestyle diseases, genetic diseases, aging population, and rising acceptance of personalized medicine drive the in vitro diagnostic market growth in these geographies, whereas factors such as the economic crisis and cuts in healthcare budgets hamper the growth. The BRIC (Brazil, Russia, India, and China) region exhibits various high growth opportunities for the in vitro diagnostic market. The fast-paced economy, public screening initiatives, and increase in the investment in healthcare infrastructures are the major factors that contribute to the market growth. Market players such as Thermo Fisher Scientific, Inc., QIAGEN N.V., and ARKRAY, Inc. have established new manufacturing facilities and R&D plants in China, in order to take advantage of the high growth opportunities in the country.
The deviations and the overlap of revenues between various segments of technology and applications in a number of sources was the major challenge faced while estimating the market size. This challenge was overcome by validating the data through a large number of industry experts and key opinion leaders.
From an insight perspective, this research report focuses on the various levels of analysis, namely, industry, market shares, value chain, PESTEL analysis, and company profiles, which together comprise and augment the basic views on the competitive landscape, emerging and high growth segments of in vitro diagnostic (molecular diagnostics & point of care testing), emerging technologies, high growth regions and countries and their respective regulatory policies, government initiative, drivers, restraints, and opportunities. Additionally, it covers the key market players and their product portfolio and the developments and strategies adopted by them to maintain and grow their market share in the near future.
The market research data, current market size, and forecast of future trends will help the key players and new entrants to make the necessary decision regarding the product offerings, geographic focus, strategic approach, R&D investment (for innovation in the products and technologies), and levels of output in order to sustain or grow successfully.
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