In-Vitro Diagnostics Global Market Size To Reach Value Of $105 Billion In 2023
5 Mar, 2021
The in-vitro diagnostics devices and equipment market consists of sales of in-vitro diagnostic equipment and related services by entities (organizations, sole traders and partnerships) that produce in-vitro diagnostics equipment. In-vitro diagnostics are tests performed on samples collected from human body such as tissues and blood. The in-vitro diagnostics equipment market is segmented into point-of-care diagnostics devices and equipment; immunochemistry diagnostic devices and equipment; clinical chemistry diagnostics devices and equipment; molecular diagnostics devices and equipment; microbiology diagnostic devices and equipment; hemostasis diagnostic devices and equipment; hematology diagnostic devices and equipment; immunohematology diagnostic devices and equipment.
Global In-Vitro Diagnostics Market Size And Drivers:
The global in-vitro diagnostics market is expected to grow from $71.71 billion in 2020 to $80.12 billion in 2021 at a compound annual growth rate (CAGR) of 11.7%. The market is expected to reach $105.3 billion in 2025 at a CAGR of 7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020.
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Trends In The Global In-Vitro Diagnostics Market
Demand for point-of-care diagnostic devices is increasing as they provide rapid results, are cost effective and have advanced diagnosis features for patients. The number of patients seeking treatments at local physician offices, retail clinics and in-patient homes are increasing thus boosting the demand for point-of-care testing devices. Companies in this market are focusing on developing more user friendly, reliable and efficient point of care devices.
Global In-Vitro Diagnostics Market Segments:
The global in-vitro diagnostics market is further segmented based on type, end user, type of expenditure, product and geography.
By Type:Point-of-Care Diagnostics Devices And Equipment, Immunochemistry Diagnostic Devices And Equipment, Clinical Chemistry Diagnostics Devices And Equipment, Molecular Diagnostics Devices And Equipment, Microbiology Diagnostic Devices And Equipment, Hemostasis Diagnostic Devices And Equipment, Hematology Diagnostic Devices And Equipment, Immunohematology Diagnostic Devices And Equipment
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others
By Type of Expenditure: Public, Private
By Product: Instruments/Equipment, Disposables
By Geography:The global in-vitro diagnostics market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global in-vitro diagnostics market, accounting for 35% of the total market.
Read More On The Report For The Global In-Vitro Diagnostics Market At:https://www.thebusinessresearchcompany.com/report/in-vitro-diagnostics-global-market-report-2020-30-covid-19-implications-and-growth
In-Vitro Diagnostics Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides in-vitro diagnostics market overviews, analyzes and forecasts market size and growth for the global in-vitro diagnostics market, in-vitro diagnostics market share, in-vitro diagnostics market players, in-vitro diagnostics market segments and geographies, in-vitro diagnostics market’s leading competitors’ revenues, profiles and market shares. The in-vitro diagnostics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.