With the rapidly diversifying diagnostic industry, the In Vitro Diagnostic (IVD) has evolved as a major contributing segment. Extensive scientific research and development, technological advancements, and rising government and private sector participation are facilitating the growth globally. Demographic parameters, such as increasing disease prevalence and high disposable income have also contributed to the development of IVD services industry, which was estimated to have reached around US$ 43 Billion in 2010.
According to our new research report “Global In Vitro Diagnostic Market Analysis”, the global IVD market is likely to grow at a CAGR of around 6% during 2011-2013 to reach around US$ 52 Billion by 2013-end. The industry, which has been witnessing innovative healthcare and diagnostic solutions, is anticipated to continue striving towards technological innovation and widening its spectrum in all dimensions.
The report analyzes the key segments in the IVD market, which has witnessed tremendous growth in the recent years. The developments in the point-of-care and molecular diagnostics segment are also found to be high. The research also observes that the increasing prevalence of chronic diseases and rising technological R&D are fuelling growth in these segments. It also studies how the rising healthcare spending across the globe would impact these segments, which are likely to witness robust growth in revenues.
Our report provides a comprehensive geographic segmentation of the IVD market globally. Through top countries’ profiles, the study elaborates the performance of the IVD market in these nations, key developments in recent times, and provides forecast for the industry. The developed countries have been performing well in the IVD industry, but a great potential also lies for the industry in developing countries.
The report finds that Companion Diagnostics and Nano-diagnostics are the emerging sectors in the IVD industry, in which the growth is being fuelled by extensive R&D and novel solutions. The report also discusses the profiles of the key players in the industry to provide an insight into the competitive landscape.