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In Vitro Diagnostics Market Will Reach USD 1.1 Billion by 2018: Transparency Market Research

Albany, New York (PRWEB) August 15, 2013

Transparency Market Research published new market report "In Vitro Diagnostics Market (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics) - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018" market was valued at USD 46.0 billion in 2011 and is expected to reach an estimated value of USD 74.2 billion in 2018, growing at a CAGR of 7.1% from 2012 to 2018.

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In vitro diagnostics (IVDs) provide valuable information regarding the physiological and/or pathological state of body and therefore are very essential to take well-informed medical decisions. Rising number of patients suffering from infectious and chronic diseases such as sexually transmitted diseases, chronic obstructive pulmonary disease, diabetes and cancer is the most significant growth driver of this market. In addition, factors such as increasing global healthcare expenditure and demand for rapid, minimally invasive and non-invasive diagnostic tools & techniques are driving the market as well.

In 2011, the North America IVD market held the second largest share of the global market at approximately 40%. The Asia-Pacific IVD market is expected to outperform all geographies in terms of growth rate during the forecast period. Presence of large patient pool and rising healthcare expenditure in these regions are responsible for this growth.

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The clinical chemistry segment of the market held the largest market share across all major geographic regions such as the U.S., China and India in 2011. However, increase in demand for molecular diagnostics in the IVD market is expected to cut into the market share Transparency Market Researchof clinical chemistry by 2018.

In 2011, Roche Diagnostics (Roche Group) held the largest share in the global in vitro diagnostics market followed by Siemens Healthcare (Siemens AG). Some of the other major companies involved in the development, manufacturing and distribution of in vitro diagnostics are Johnson & Johnson, Beckman Coulter Inc., Becton Dickinson and Company, Gen-Probe Incorporated and Thermo Fisher Scientific Corporation.

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In vitro diagnostics provide valuable information regarding the physiological and/or pathological state of body and therefore are very essential to take well-informed medical decisions. This report estimates the market for the in vitro diagnostics terms of revenue (USD million) for the period 2012 – 2018, keeping 2011 as the base year. The in vitro diagnostics market is segmented into two major types namely market by geography and market by products.

The market estimation for the U.S. and two emerging economies (China and India) have also been included in the report. The U.S., India and China in vitro diagnostics market is segmented by products into clinical chemistry IVDs, Immunoassay IVDs, diabetes testing IVDs, blood testing IVDs, molecular diagnostics, and other IVDs. The global market for in vitro diagnostics is segmented on the basis of geography into North America, Europe, Asia-Pacific and rest of the world (RoW) regions and this market is provided in terms of USD million.

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