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In-Vitro Diagnostics Market AnalysisAccording to Market Research Future (MRFR), the global in vitro diagnostics market was valued at USD 69.2 billion in 2017 and is expected to reach USD 102.5 billion by 2023. The latest research report from Market Research Future studies the global in vitro diagnostics market in detail in order to present a detailed overview of the global market. Future growth prospects of the global in vitro diagnostics market are profiled in the report, including a detailed analysis of the major drivers and restraints affecting the market. Leading players in the global in vitro diagnostics market are also profiled in the report, in order to provide readers with an accurate overview of the competitive landscape of the global market.
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In vitro diagnostics have become an important part of diagnostic procedures in recent years due to the growing product development in the field. Technological advancements in in vitro diagnostics have made in vitro diagnostics ever more reliable and consistent. This has been a major driver for the global in vitro diagnostics market. Technological advancements have been crucial for the global in vitro diagnostics market, as in vitro diagnostics rely heavily on technologies, electronics, and software platforms. Many leading players in the medical devices field have been busy with product advancements in the in vitro diagnostics market over the last few years.
The growing prevalence of infectious as well as noninfectious diseases around the world is likely to be a major driver for the global in vitro diagnostics market over the forecast period. Apart from the growing prevalence, increasing awareness about these diseases is also likely to be a major driver for the global in vitro diagnostics market over the forecast period, as more people are consulting doctors and seeking medical help for these diseases. This has led to a growing demand for a wide variety of in vitro diagnostic procedures.
In-Vitro Diagnostics Market Competitive Leaderboard:
Leading players in the global in vitro diagnostics market include Danaher Corporation, Bio-Rad Laboratories Inc., Siemens AG, F. Hoffman-La Roche AG, Ortho Clinical Diagnostics, Grifols S.A., Qiagen NV, Biomerieux S.A., Sysmex Corporation, Becton Dickinson and Company, DiaSorin SpA, Abbott Laboratories, and Thermo Fisher Scientific. Technological advancement in in vitro diagnostics is likely to be a major strategy for players in the global in vitro diagnostics market over the forecast period.
In-Vitro Diagnostics Market 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, and data management software. The reagents and kits segment holds an overwhelmingly dominant share in the global in vitro diagnostics market and is likely to remain the leading contributor to the market over the forecast period.
By technology, the global in vitro diagnostics market is segmented into immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, microbiology, and hematology. Immunoassays and clinical chemistry hold dominant shares in the global in vitro diagnostics market.
By application, the global in vitro diagnostics market is segmented into infectious and non-infectious diseases.
By end use, the global in vitro diagnostics market is segmented into hospitals, laboratories, and academic institutes. The hospitals segment holds the largest share in the global in vitro diagnostics market over the forecast period.
In-Vitro Diagnostics Market Regional Analysis:
The global in vitro diagnostics market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas segment holds a dominant share of more than 39% in the global in vitro diagnostics market and is likely to remain the leading revenue generator for the global in vitro diagnostics market over the forecast period. The growing awareness about infectious as well as noninfectious diseases in North America is the major driver for the global in vitro diagnostics market. The strong presence of major healthcare industry players in North America is also a major driver for the global in vitro diagnostics market.
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