Albany, NY -- (ReleaseWire) -- 01/15/2014 -- The process of performing a diagnostic test outside of a living organism in an artificial environment, usually a laboratory, is called in-vitro diagnostic (IVD). IVD is considered as an essential part of today’s healthcare. The IVD products are broadly divided into three categories: reagents, analytical instruments and accessory products. IVD is widely used for diagnosis, monitoring of prescribed treatments and assessment of medical intervention, apart from others thereby contributing to availability of medical information regarding a patient. Further, IVD allows earlier and more targeted treatment which in turn leads to reduced hospital stays and convalescences resulting in a healthier population and economic growth in the long run.
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A consistent increase has been observed in the global IVD industry over the past couple of years. Even in 2009, the IVD industry was unaffected by the economic and financial turmoil thereby proving the industry as recession proof. On the basis of technology, central lab immunoassay strongly dominated the IVD market followed by whole body glucose and clinical chemistry. Further, in case of IVD sale by test location, the market was led by testing at central labs, followed by point-of-care testing.
The key factors driving growth of the global IVD industry include rising global healthcare expenditure, increasing aging population, accelerating global diabetic population apart from rising incidences of chronic and infectious diseases. Some of the noteworthy trends and developments of this industry include increasing demand for early diagnosis, expansion of point of care testing and growth of minimally invasive and non-invasive procedures. However, the growth of IVD industry is hindered by the strict regulatory compliance imposed on manufacturers.
The report contains a comprehensive analysis of the global IVD industry along with the study of regional markets including Europe, Brazil and China. An intense competition is noted among few major players; Roche, Abbott, Siemens, J&J and Danaher. Apart from global competitive analysis, regional competitive landscape is also included in the report along with company profiles of the leading players in the market.
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By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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In vitro diagnostics provide valuable information regarding the physiological and/or pathological state of body and therefore are very essential to take well-informed medical decisions. This report estimates the market for the in vitro diagnostics terms of revenue (USD million) for the period 2012 – 2018, keeping 2011 as the base year.
The in vitro diagnostics market is segmented into two major types namely market by geography and market by products. The market estimation for the U.S. and two emerging economies (China and India) have also been included in the report.
The U.S., India and China in vitro diagnostics market is segmented by products into clinical chemistry IVDs, Immunoassay IVDs, diabetes testing IVDs, blood testing IVDs, molecular diagnostics, and other IVDs. The global market for in vitro diagnostics is segmented on the basis of geography into North America, Europe, Asia-Pacific and rest of the world (RoW) regions and this market is provided in terms of USD million.
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