Published Date : Dec 05, 2016
ALBANY, NY, Dec 05, 2016: The report has been prepared after in-depth reports of the global in-vitro diagnostics (IVD) instruments market. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the prominent vendors operating in this industry.
According to the research report, it is estimated that the global in-vitro diagnostics instruments market would grow at a CAGR of 9.73% during the period from 2016 to 2020.
The market study, titled “Global In-Vitro Diagnostics Instruments Market 2016–2020,” finds that the market would be driven by a burgeoning geriatric population and an alarming increase in chronic diseases and infections such as cancer, malaria, tuberculosis, diabetes, and cardiovascular diseases. Further, rising public awareness, the swift pace of technological innovations, product approvals from regulatory authorities, and the demand for personalized medicines are slated to positively impact the market in the next couple of years.
The report, however, finds U.S. medical device tax policies to be a major constraint to the market’s growth. The report uncovers current trends in the market, which include the popular practice of leasing of IVD instruments and increasing mergers and acquisitions, among others. Geography-wise, the Americas have held the maximum share in the global market for in-vitro diagnostics instruments and are predicted continue their dominance from 2016 to 2020. A changing lifestyle, higher alcohol intake, smoking, and unhealthy eating habits are some of the factors boosting the market in the region. Advancements in technology and consequent new product launches are expected to further fillip the market.
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Asia Pacific, however, is expected to see maximum growth in the market on the back of better healthcare infrastructure and fast growing economies, namely China and India. In fact, sensing a good opportunity, manufacturers nowadays are turning their focus to emerging APAC countries. On account of the presence of many large and small vendors, the global IVD instruments market is highly fragmented. There is intense competition due to players entering into partnerships to develop better products.
Depending upon the type of products, the report has segmented the global market for in-vitro diagnostics instruments into clinical microbiology, SMBG, immunochemistry, POCT, tissue diagnostics, hematology, and hemostasis. Depending upon end users, the market is divided into hospitals and diagnostic laboratories, academic and research institutes, and home care. The report studies each of the segments in detail to better understand the market’s potential.
The report has also leveraged Porter’s Five Forces reports, which factors in supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry, to gauge the competitive dynamics in the market. Some of the key vendors profiled in the report are Abbott Laboratories, Roche Diagnostics, Danaher, Thermo Fisher Scientific, and Siemens Healthcare.
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