In-vitro Diagnostics Market Worth $133.34 Billion, Globally, by 2027 at 5.1% CAGR: Verified Market Research

In-vitro Diagnostics Market Worth $133.34 Billion, Globally, by 2027 at 5.1% CAGR: Verified Market Research

PR Newswire

JERSEY CITY, New Jersey, June 24, 2020

JERSEY CITY, New Jersey, June 24, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "In-vitro Diagnostics Market by Application (Diabetes, Infectious Diseases, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing or Pharmacogenomics, HIV/AIDS), by End User (Laboratories, Hospitals, Academics, Point-Of-Care Testing, Patient Self-Testing), by Technology (Immunochemistry and Immunoassay,  Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology, Coagulation and Hemostasis, Urinalysis), by Product & Service (Reagents and Kits, Instruments, Data Management Software, Services))". According to Verified Market Research, the Global In-vitro Diagnostics Market was valued at USD 89.60 Billion in 2019 and is projected to reach USD 133.34 Billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027.


This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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248- Pages
198 – Tables
41 – Figures

Global In-vitro Diagnostics Market Overview

The increased frequency of infectious diseases and chronic diseases and the rise in geriatric populace is the crucial factor responsible for the growth in the market. The World Health Organization has summoned the onset of the global crisis. Infectious diseases kill over 17 million people a year. The increased call for fully automated instrumentation in laboratories is fueling market growth. Automation is the utilization of electronics and computer-controlled devices to regulate the process. The goal of automation is to enhance efficacy and dependability.

In most cases, automation replaces labor workforce. Today, economists fear that new technology will cause a surge in the unemployment rates significantly. Test automation software is a convenient way to increase the effectiveness and coverage of your software testing. The automated tests are created; they can be repetitive and can be extended to perform tasks impossible with manual testing. The Miura, by ISE Diagnostic Systems, is a completed automated analyzer for Clinical Chemistry, operating in the upper segment of mid-sized laboratories. The increased consciousness about the use of personalized medicine is gaining traction. It is a unique method to tailor disease prevention and treatment that takes into account differences in people's genes, environments, and lifestyles. The goal of precision medicine is to target the right therapies to the right patients at the right time.

Advances in precision medicine have already led to discoveries and FDA-approved treatments that are custom-made to specific characteristics of individuals, such as a person's genetic makeup. The significance of companion diagnostic will pave the way for lucrative opportunities in the market. It is an in-vitro medical device, which delivers information that is essential for safe and reliable use of a similar biological product. The BRAC Analysis CDx is used to cure breast cancer and has been approved by the FDA.  The major players in the market are Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Inc., Siemens AG, Sysmex Corporation, Thermo Fisher Scientific, Becton, Dickinson and Company, Biomérieux Sa, Bio-Rad Laboratories, Inc., Johnson & Johnson.

Verified Market Research has segmented In-vitro Diagnostics Market on the basis of Product & Services, Technology, End User, Application & Geography.

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