In Vitro Diagnostics Sector: Key Growth Drivers and Benchmarked Innovations
Personalized diagnostics and increased healthcare investment to drive market growth post-COVID-19 pandemic
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The change in reimbursement for diagnostic testing, pressure from PAMA, regulatory trends in Europe, demand for large scale testing, shift to precision diagnostics, emerging companies and evolving business models demand assessing portfolio, evaluating competitor strategies and exploring opportunities for business growth. The competitive nature of the In Vitro Diagnostics industry has unfolded through the COVID-19 pandemic, as it continued to serve the healthcare domain and successfully reach $85.9 billion in 2020. This report offers insightful analysis in the form of global IVD forecast, regional and technology segment-wise analysis, benchmarking of top participants, and key growth opportunities that will shape the industry
The In Vitro Diagnostics (IVD) industry serves as a key area within the healthcare domain, demonstrating its strong support throughout the COVID-19 pandemic. The market has continued to grow and is expected to reach $118.9 billion in 2025, growing at a CAGR of 7.9% from 2019. Molecular Diagnostics and Point-of-Care-Technologies will continue to grow at higher rates given the demand for COVID-19 testing and demand for personalized diagnosis, while tissue diagnostics, clinical chemistry and immunoassay, hemostasis will experience rebound and moderate growth followed by rest of the technology segments. The top 10 companies together had a combined accounted for 65.2% of the global IVD revenue for 2020, while the top 20 companies together shared 78.8% of the global proceeds. Given the market dynamics, trends and competitive nature, it is important to get an overall perspective on the technology segments as well as workflow. This report offers insightful analysis in the form of overall forecast, region and technology segment-wise analysis, benchmarking of top participants, and key growth opportunities.
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