According to the MarkNtel Advisors’ research report, “Global In-Vitro Diagnostics Market Analysis, 2021”, the Market is expected to grow at a CAGR of 4.8% during 2021-26. A growing number of people who succumb to infectious and non-infectious diseases coupled with the surge in level of disposable income are the factors proliferating the growth of the In-Vitro Diagnostics market. The In-Vitro diagnostics market has experienced immense appreciation across the world owing to its prompt and effective diagnosis. However, an inadequate reimbursement scheme for in-vitro diagnosis is the biggest challenge that could hinder the growth of the market.
Key questions answered in the study
Hospitals and Clinics Segment Holds the Largest Market Share
Within the End-User segment, the market is segmented into Diagnostic Laboratories, Hospitals, and Clinics, Academic and Medical Schools, Point of Care Testing. The hospital and clinic segment accounted for the largest share in the Global In-Vitro Diagnostics market in 2019 owing to rising patient footfall at hospitals and clinics requiring a tremendous amount of diagnostic devices and testing for enhancing patient’s health. Moreover, the increasing trend of the collaboration of diagnostic centres and hospitals is contributing to the growth of hospital-based in-vitro diagnostic tests.
“Global In-Vitro Diagnostics Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots and opportunities available for In-Vitro Diagnostics providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific market is anticipated to register the fastest growth in the Global In-Vitro Diagnostics market during 2021-26. The growth of the region is attributed to the escalating patient population and rising inclination towards specialized healthcare. India has the highest birth rate leading to increasing demand for in-vitro diagnosis. Further, burgeoning expenditure for the development of healthcare infrastructure is projected to contribute to the growth of the global In-Vitro Diagnostics market in the forecast period as revealed by MarkNtel Advisors’ research report “Global In-Vitro Diagnostics Market Analysis, 2021”.
According to MarkNtel Advisors, the major leading players in the global In-Vitro Diagnostics market are BioMerieux SA, Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Siemens Healthineers AG, Qiagen, Quidel Corporation, F. Hoffmann-La Roche AG, Sysmex Corporation, Danaher Corporation, etc.