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MarketsandMarkets: Global In-Vitro Diagnostic (IVD) Market Expected to Reach $64 Billion by 2016
Date:1/31/2012

financial crisis and thus having deep cuts on the healthcare budgets with limited reimbursements provided on the clinical testing and the newly introduced tests in the market thus hampering the growth of IVD industry.

The laboratory testing market accounts for the highest market by end-user segmentation with a share of 73% with a market of $35.52 billion for the year 2011 and is expected to reach the market of $45.54 billion by the year 2016 with a CAGR of 6.9%.

Analyzers are the main instruments used for conducting the tests. The instruments account only major share of the market share of the IVD market, by types. The analyzers are of 3-types namely, high through put analyzers, medium throughput analyzers, and low throughput analyzers.

The major factors driving the growth of the In-Vitro Diagnostic Market [ http://www.marketsandmarkets.com/Market-Reports/in-vitro-diagnostics-ivd-market-547.html] is increased patient awareness, patient self testing, and increasing baby booming population across the globe. Advancement in the technology bringing more of automated tests is also one of the major drivers for the growth of IVD market.

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