In-vitro Diagnostic Services Market Trends Global Industry Analysis, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2024
Category: #health  By Ashwin Naphade  Date: 2019-08-23
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In-vitro Diagnostic Services Market Trends Global Industry Analysis, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2024

A comprehensive research study on In-vitro Diagnostic Services market added by Market Study Report LLC provides insights into the market share and growth trends of this industry over the forecast timeline. The study evaluates key aspects of In-vitro Diagnostic Services market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

U.S. in-vitro diagnostic services market will grow at 5.6% over the forecast timeframe and high growth of this segment can be attributed to growing number of initiatives taken by the organizations that will create awareness regarding availability of services thereby, should augment business growth. In-vitro diagnostic services market is highly regulated ensuring improvised quality of diagnostic services escalating preference for services over the upcoming years.

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Rising number of liquid biopsy tests will positively impact the industry growth during forecast timeframe. Technological advancements in the liquid biopsy devices to have an accurate analysis of the tumor will increase its preference over the forecast timeframe. Also, favorable reimbursement scenario should drive business growth. For instance, insurance providers in the U.S. have developed new reimbursement policies for biopsy tests that will ensure high industry growth in coming years.

Growing number of pathology laboratories in developed as well as developing economies will impel the industry growth in upcoming years. Elderly population base suffering from chronic conditions will have high preference for laboratory diagnostic services that should escalate in-vitro diagnostic services market growth. Moreover, business growth will be triggered due to increasing automations in the diagnostic devices utilized in the pathology laboratory centers. In-vitro Diagnostic Services Market will exceed USD 63 billion by 2024; as per a new research report.

Software segment will grow at 4.5% and is expected to have similar growth trends over the estimated forecast. Use of software in clinics, hospitals and pathology laboratories to maintain the data of patients should impact the segmental growth positively. Furthermore, availability of reliable and efficient software systems will enhance the business growth in the forthcoming years.

Hospitals segment of in-vitro diagnostic services industry held largest revenue share of 30.6% in 2017 and should expand enormously in foreseeable future due to rising number of hospital admissions demanding accurate diagnosis and critical monitoring. Additionally, improvement in the healthcare infrastructure of developed as well as developing countries will upsurge the segmental growth.

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Availability of diagnostic tests to detect diseases ay genetic level will augment the business growth over the forecast timeframe. Moreover, there are around 7000 different genetic diseases and 1 in 10 Americans suffer from at least one rare genetic disease. Improvements and automations in diagnostic services have enabled genetic disease detection at molecular level thereby will positively impact on the in-vitro diagnostic services industry growth.

China in-vitro diagnostic services market was valued at USD 2.2 billion in 2017, as a result of the increasing incidences of cancer. Around 7500 people in China die due to cancer. Due to availability of superior quality diagnostic services, the mortality rates have reduced drastically in the recent years. Also, growing adoption rate of point-of-care testing services by the elderly based population requiring critical monitoring will upsurge the regional growth in forthcoming years.

Some of the prominent industry players operating include BioRad, DexCom, Nova Biomedical, OraSure, Pearl Pathways, Phenomenex, Qiagen, Roche diagnostics, Siemens, Sysmex and Thermo Fisher. These companies adopt several initiatives such as mergers, acquisitions and new product launch to achieve competitive advantage. For instance, in December 2017, Thermo Fisher collaborated with leading diagnostic player NeoGenomics and launched Oncomine Target Test. Collaborations with major industry players will improve product offerings and prove beneficial for company?s growth.

Table of Content:

Chapter 1. Methodology

 

 1.1. Methodology

 

 1.2. Market definitions

 

 1.3. Forecast parameters

 

 1.4. Data sources

 

 1.4.1.  Secondary

 

 1.4.1.1. Paid sources

 

 1.4.1.2. Unpaid sources

 

 1.4.2.  Primary

 

 Chapter 2. Executive Summary

 

 2.1. In-vitro diagnostic services industry 360 degree synopsis, 2013 - 2024

 

 2.1.1.  Business trends

 

 2.1.2.  Service type trends

 

 2.1.3.  End-user trends

 

 2.1.4.  Regional trends

 

 Chapter 3. In-vitro Diagnostic Services Industry Insights

 

 3.1. Industry segmentation

 

 3.2. Industry landscape, 2013 - 2024

 

 3.3. Industry impact forces

 

 3.3.1.  Growth drivers

 

 3.3.1.1.  Growing cases of cancer in Asia Pacific and North America

 

 3.3.1.2.  Increasing detection rate of genetic and infectious diseases in Europe and U.S.

 

 3.3.1.3.  Rising number of liquid biopsy tests

 

 3.3.1.4.  Technological advancements in point of care testing services in Europe

 

 3.3.2.  Industry pitfalls and challenges

 

 3.3.2.1.  High cost of diagnosis service

 

 3.4. Growth potential analysis

 

 3.4.1.  By service type

 

 3.4.2.  By end-user

 

 3.5. Regulatory landscape

 

 3.5.1.  U.S.

 

 3.5.2.  Europe

 

 3.6. Porter's analysis

 

 3.7. Competitive landscape, 2017

 

 3.7.1.  Strategy dashboard

 

 3.8. PESTEL analysis

 

 Chapter 4. In-vitro Diagnostic Services Market, By Service Type

 

 4.1. Key segment trends

 

 4.2. Software

 

 4.2.1.  Market size, by region, 2013-2024 (USD Million)

 

For more information on this report at: https://www.marketstudyreport.com/reports/in-vitro-diagnostic-services-market/?utm_source=reportsgo.com-SP 

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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