Growing Government Support for Healthcare Research to Drive In Vitro Diagnostics Market
The global in vitro diagnostics market is expected to exhibit a strong 8.16% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global in vitro diagnostics market size is mainly driven by the growing government support for healthcare research into discovering more potent, more accurately targeted medication for various diseases. This is likely to drive significant innovation in the healthcare research sector in the coming years, thus driving the in vitro diagnostics market over the forecast period.
The report presents an analysis of the regional segmentation of the market in detail, covering North America, Europe, Asia Pacific, the Middle East, and Latin America to provide a comprehensive overview of the market dynamics in each region. Competitive leaderboard analysis is also done for the market by profiling the leading players in the global in vitro diagnostics market.
Competitive Analysis:
Leading players in the global in vitro diagnostics companies include Danaher Corporation, Bio-Rad Laboratories Inc., Siemens AG, F. Hoffman-La Roche AG, Ortho Clinical Diagnostics, Grifols S.A., Qiagen N.V., BioMerieux S.A., Sysmex Corporation, Becton Dickinson and Company, DiaSorin S.p.A., Abbott Laboratories, and Thermo Fisher Scientific.
Segmentation:
The global in vitro diagnostics market is segmented on the basis of product type, technology, application, end use, and region.
By product, the global in vitro diagnostics market is segmented into reagents and kits, instruments, data management software, and services. The reagents and kits segment is likely to establish dominance in the global in vitro diagnostics market over the forecast period due to the need to replenish reagents and kits on a regular basis.
By technology, the global in vitro diagnostics market is segmented into immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, microbiology, and hematology. Clinical chemistry holds the largest share in the global in vitro diagnostics market, followed closely immunoassay/immunochemistry.
By application, the global market is segmented into infectious diseases and non-infectious diseases.
By end use, the global in vitro diagnostics market is segmented into hospitals, research laboratories, and academic institutions.
Regional Analysis:
The global in vitro diagnostics market is likely to be dominated by North America in the coming years due to the strong presence of research laboratories in the medical field in the region. The growing presence of the healthcare research industry in North America is likely to be the major driver for the global in vitro diagnostics market over the forecast period. Growing cancer research is likely to be a major driver for the global in vitro diagnostics market over the forecast period. The growing presence of cancer research organizations in the U.S. is likely to be a major driver for the North America in vitro diagnostics market over the forecast period.
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