In-Vitro Diagnostics Instruments Market (2017–2021) Value To Be US$ 44,154.2 Mn, Rising Adoption Of Point of-care Testing Among Healthcare Professionals

Marketresearch.biz announces publication of its most recently generated research report titled, “Global In-Vitro Diagnostic Instruments Market by Product Type (Immunochemistry, Clinical Microbiology, POCT, SMBG, Tissue Diagnostics, Molecular Diagnostics, Hematology, and Hemostasis), and Region – Global Forecast to 2026”, which offers a holistic view of the global in-vitro diagnostic instruments market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017–2021) is projected to be US$ 44,154.2 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.

In-vitro diagnostics are tests that are carried out in laboratories to diagnose diseases or infections. In-vitro diagnostic instrument is a device used in the examination of specimens derived from the human body to provide information related to diseases and other health-related conditions. Various skin and blood tests are available that can detect patient sensitivity.

Global In-Vitro Diagnostic Instruments Market: Market Dynamics

According to the report, rising incidences of chronic diseases and personalized healthcare approach, convenience offered by in-vitro diagnostics instruments such as easy patient management, especially when clinical presentation is non-specific, detection of asymptomatic infections, situation analysis, including detection of previous infections, evaluation of effectiveness of interventions, including certification of elimination, and detection of drug resistance are some key factors driving growth of the global in-vitro diagnostic instruments market. Others include rising political and economic pressure to reduce healthcare expenditure and increasing interest of people towards molecular testing technologies and point of care testing. Moreover, with technological advancements such as automation and biosensors technology making testing more accurate are other major factors expected to drive growth of the global in-vitro diagnostic instruments market over the forecast period.

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However, lack of government regulations and poor incentives by companies are some major factors restraining growth of the global in-vitro diagnostic instruments market.

Technological advancements in optimization of laboratory workflow and improvement in government policies and regulations are expected to create lucrative opportunities for major players in the global in-vitro diagnostic instruments market during the forecast period.

Global In-Vitro Diagnostic Instruments Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global in-vitro diagnostic market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global in vitro diagnostic market is expected to expand at a moderate CAGR of 6.7% during the forecast period.

Global In-Vitro Diagnostic Instruments Market: Segmental Snapshot

The market report has been segmented on the basis of product type, end user, and region. The product type segments include immunochemistry, clinical microbiology, POCT, SMBG, tissue diagnostics, molecular diagnostic, hematology, hemostasis. End user segments include hospitals, diagnostic center, homecare, and academic and research institute. The regions and countries covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Rest of the World.

By product type: Immunochemistry segment is estimated to register a CAGR of over 7.7%, thereby accounting for highest revenue share among the type segments.

By end user: Hospitals and diagnostic laboratories segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 7.3% over the forecast period.

By region: The market in North America accounted for highest revenue share in the global in vitro diagnostic instruments market in 2016, and is expected to record CAGR of over 6.6% between 2016 and 2026.

Global In-Vitro Diagnostic Instruments Market: Competitive Analysis

The research report on the global in-vitro diagnostic instruments market includes detailed competitive analysis on major companies such as Abbott, Danaher, F. Hoffmann-La Roche Ltd., bioMérieux SA, Thermo Fisher Scientific Inc., Alere Inc., Becton, Dickinson and Co., Siemens AG, and Sysmex Corporation.

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The Global In-Vitro Diagnostic Instruments Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2016–2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global in-vitro diagnostic instruments market for 2016–2026.

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