According to the report, “In-Vitro Diagnostics Market By Product Segments (Instruments and Systems, and Reagents and Consumables Segments), By Applications (Immunochemistry, Clinical Chemistry, Hematology, Infectious Disease, Microbiology, Genetic Testing and Histology & Cytology) and By Geography (North America, Europe, Asia-Pacific & Rest Of The World) - Global Opportunity Analysis and Industry Forecast, 2013 - 2021”, the market for in-vitro diagnostics is expected to 77.38 billion USD by 2021.

The global in-vitro diagnostics market report offers information about the major drivers and restraints for the industry along with the detailed analysis of the key players, geographies, and market share.

Next generation technologies to drive the market growth

According to the in-vitro diagnostics market report, the industry is set to reach 77.38 billion USD by the end of 2022. The Strong rise in the incidences of chronic diseases and infectious diseases along with the rise in the number of the geriatric population are suggested to drive the business in this market. Widespread rise in the instances of infectious diseases and rising demand from the number of chronic disease patients, the report suggests a steady rise in demand for this market on the global scale. Apart from that, the report also suggests impressive rise in the research and development field, which is expected to create growth opportunities for this market by 2022.

Emerging technologies to provide vital business opportunities

The in-vitro diagnostics market report suggests a steady rise in demand, the growth of the emerging segments such as companion diagnostics, point-of-care tests, lab on a chip and other next generation technologies. These factors are expected to create significant business opportunities for the key players and the emerging players in the market. Growing demand for evidence-based medicine is also considered to be a key driving factor for this industry. The report highlights immunochemistry as the strongest growing application segment for this industry during the forecast period. Molecular diagnostics in genetic testing and cancer screening are expected to witness ample growth opportunities.

North America is suggested to hold the largest in-vitro diagnostics market share. Asia-Pacific, on the other hand, is expected to become the fastest-growing segment of this market during the forecast period. Strong government initiatives, raising awareness about healthcare and improved infrastructure are suggested to be some of the major reasons for the impressive growth of this market in the Asia-Pacific market.

The key players highlighted in the in-vitro diagnostics market report include Abbott Laboratories, Becton, BioMerieus, Danaher Corporation, Dickinson and Company, F. Hoffmann-La Roche Ltd, Johnson & Johnson, Siemens Healthcare, and Thermo Fisher Scientific, Inc.

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