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The global IVD market witnessing steady growth, to expand at CAGR of 6.86% over 2014-18

Press release July 31, 2014 Ivd market, ivd industry, ivd market report

IVDs are widely used to diagnose, monitor, and assess medical conditions, diseases, or infections usually in a controlled environment.

The global IVD market is growing at a steady pace due to an increased demand for better and more viable diagnostic methods and techniques in the healthcare market.

This report, Global IVD Market 2014-2018,provides a detailed analysis of the market and focuses on the major players, recent developments and key drivers of the global IVD industry.

Market overview

The global IVD market was valued at USD 44 billion in 2011 and is expected to reach USD 64 billion by 2016, growing at a CAGR of 6.86% in the period from 2013 to 2018. The laboratory testing market accounts for the highest segment by end-user segmentation with a share of 73% with the market touching USD 35.52 billion for 2011 and while it is expected to reach USD 45.54 billion by 2016 at a CAGR of 6.9%.

Key drivers

In-vitro diagnostics (IVD) these days are widely being used to diagnose, monitor, and assess medical conditions, diseases, or infections, usually in a controlled environment. IVD tests provide outcomes for earlier and more targeted treatment. These tests are minimally invasive, help reduce hospital stay, and provide accurate results. These are some of the main drivers of this market. Globally, the market for IVD continues to expand due to other several factors which include prevalence of disease, greater private-sector testing, recent significant developments in diagnostic services, increased patient awareness, patient self-testing, and a baby boom across the globe.

Key regions

The US represented the biggest market for the IVD equipments accounting for a share of 47% of the total IVD market in 2011.The European region accounted for 31% of the global IVD market with Germany accounting for the largest share of 23.24% followed by France (16.89%) and Italy (16.41%).

The Asian region is dominated by Japan having the largest market in terms of value and is expected to be ruled by emerging economies like China and India. The major driving factor for the IVD industry boom in the emerging countries are government funding and improved healthcare facilities.

Key players

The key players in this market include Abbott Laboratories, Johnson & Johnson, Roche Diagnostics Inc., Siemens Healthcare, 23andMe, A. Menarini Diagnostics, Affymetrix, Agilent Technologies, Alere, ARKRAY, Axis-Shield , Bio-Rad Laboratories, Bruker BioSciences, Celera Diagnostics , Cepheid, China Medical Technologies, Dako , DiaSorin , Eiken Chemical , ELITech , Fujirebio Diagnostics, GE Healthcare, Grifols , Horiba, Illumina, Instrumentation Laboratory, IRIS International, Luminex, Magellan Biosciences, Nanosphere, Nova Biomedical, Nova Century Scientific, Novartis , PerkinElmer, Phadia , QIAGEN , Quidel, Randox Laboratories, Sequenom, Shenzhen Mindray Bio-Medical Electronics , Siemens Healthcare, Spartan Bioscience , Sysmex, Thermo Fisher Scientific , Tosoh , Transasia Bio-Medicals , Trinity Biotech , Ventana Medical Systems , Veridex , Wako Pure Chemical Industries and Werfen Life Group.

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Ivd market, ivd industry, ivd market report