According to the MarkNtel Advisors’ research report, “Global In-Vitro Diagnostics Market Analysis, 2021," the market is likely 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 surging levels of disposable income are factors propelling the In-Vitro Diagnostics market growth. 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 market growth.
Key questions answered in the study
Hospitals and Clinics Segment Holds the Largest Market Share
Based on the End-User, the market segments are Diagnostic Laboratories, Hospitals, and Clinics, Academic and Medical Schools, Point of Care Testing. Among these segments, Hospitals & Clinics accounted for the largest share in the Global In-vitro Diagnostics market in the previous few years owing to rising patient footfall at hospitals & clinics requiring a tremendous amount of diagnostic devices & testing for enhancing their health. Moreover, the increasing trend of the collaboration of diagnostic centers & hospitals further contributes to 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 competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific market is likely to register the fastest growth in the Global In-Vitro Diagnostics market during 2021-26 due 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 developing healthcare infrastructure is also likely to contribute to the global In-Vitro Diagnostics market growth in the forecast period, reveals MarkNtel Advisors in their 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.