Portland, OR -- (ReleaseWire) -- 07/07/2014 -- The report expects the global In Vitro Diagnostics market to attain a market value of $74.46 billion by 2020. North America leads the global IVD market and would attain a market size of $30.1 billion by 2020 with a CAGR of 4.02% during 2014-2020. However, Asia-Pacific would grow fastest, enrolling a CAGR of 7.49%.
Rising per capita income, demand of efficient and effective health care equipment, Increase in health awareness, rising cases of diseases are significant factors that would drive the market growth. However, stern government guidelines and weak reimbursement policies would slow down the market growth.
The report provides a detailed analysis of the market segment that includes techniques, product, applications, usability, geography and end-user. With a share of 31% in the overall market, Point of care technique is most accepted amongst physicians, doctors and clinicians.
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Instruments, data management software, services and reagents are the major product segments in the IVD product market. Instruments segment would be the maximum revenue generating segment by 2020.
The application market of the IVD is segmented into infectious disease, diabetes, cancer, cardiology, autoimmune diseases, nephrology, drug testing, and HIV/AIDS. Infectious disease segment is the brightest in the application market.
Hospitals, laboratories, academics, point of care testing are the main end use segments as per the report.
The report provides detailed information on the key market players and their market strategies.
Top profiled companies are:
Johnson & Johnson
Becton Dickinson & Company
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