Global In-Vitro Diagnostics Market Trends And Strategies Of Major Players In The In-Vitro Diagnostics Market 2020
15 Dec, 2020
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The global in-vitro diagnostics market is expected to grow from $57.9 billion in 2019 to $71.3 billion in 2020 at a compound annual growth rate (CAGR) of 23.2%. The growth of this market is mainly due to the increased diagnostic testing in laboratories, hospitals, and other testing sites across various country to detect the pandemic COVID-19 virus. The need for rapid diagnostic testing such as molecular and RT PCR based testing to identify people infected by coronavirus is driving the in-vitro diagnostics market. The market is then expected to stabilize and grow at a CAGR of 6% from 2021 and reach $81.3 billion in 2023.
The in-vitro diagnostics devices (or) equipment manufacturing market consists of sales of in-vitro diagnostic equipment and related services by entities (organizations, sole traders and partnerships) that produce in-vitro diagnostics. This industry includes establishments that produce diagnostic devices used in microbiological diagnosis, hematological diagnosis, molecular diagnosis, point of care diagnosis and others.
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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, the North American in-vitro diagnostics market accounts for the largest share of 35% in the global in-vitro diagnostics market 2019.
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Trends In The In-Vitro Diagnostics Market
Companies in this market are very active with multiple strategic collaborations and agreements. Top companies in the in-vitro diagnostic market are strategically partnering and collaborating with other companies to broaden their products, technologies and services.
In-Vitro Diagnostics Global Market Report 2020 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.