PRwire360
01 Oct 2022, 02:04 GMT+10
Increase in number of Research & Development (R&D) initiatives related to tests and diagnostics and surge in demand for Point-of-Care (POC) facilities are key factors driving market revenue growth
Market Size - USD 98.00 Billion in 2021, Market Growth - at a CAGR of 2.3%, Market Trends - Rising awareness about and use of self-care medical devices
New York, September 29, 2022 - The global In Vitro Diagnostics (IVD) market size was USD 98.00 Billion in 2021 and is expected to register a revenue CAGR of 2.3% over the forecast period, according to the latest report by Reports and Data. Rise in prevalence of Sexually Transmitted Diseases (STDs) will also create an increasing need for molecular diagnostic IVD tools, resulting in driving revenue growth of the market.
In vitro diagnostic (IVD) tests allow for identification of microorganisms that cause infectious diseases as well as susceptibility testing to determine the best treatment. Non-infectious diseases can also be detected using in-vitro diagnostics, which is another important factor increasing demand for diagnostic and test kits over the projected period. Due to COVID-19 pandemic, leading manufacturers have recently taken important steps to enhance patient access to coronavirus diagnostic testing in laboratories, hospitals, and other testing sites across the U.S,, to guide patient care and preserve public health. Furthermore, unprecedented global collaboration with the primary goal of accelerating COVID-19 diagnostics, treatments, and vaccines development, manufacture, and equitable access is a major factor likely to support and drive revenue growth of the market over the forecast period.
Other significant factors influencing market revenue growth include consistent and rising R&D spending as well as expanding awareness of the benefits of IVDs. However, increased use and awareness of self-care medical devices will also drive revenue growth of IVD kits over the forecast period.
To understand how our In Vitro Diagnostics (IVD) Market can bring difference to your business strategy:-Download Summary
Some Key Highlights From the Report
For the purpose of this report, Reports and Data has segmented the global In Vitro Diagnostics (IVD) market based on product type, technology, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Technology Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
Get a daily dose of Indianapolis Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Indianapolis Post.
More InformationCAMP HILL, Pennsylvania: This week, the Wall Street Journal (WSJ) reported that Rite Aid could shut down some 400 to ...
WASHINGTON D.C.: U.S. Transportation Secretary Pete Buttigieg has criticized the air traffic control staffing shortages in New York as "unacceptable" ...
BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors ...
TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...
HANOI, Vietnam: While the European Union (EU) is set to impose tariffs on its Chinese rivals, Vietnamese electric vehicle (EV) ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...
Washington, D.C.: This week, the U.S. Court of Appeals for the Federal Circuit suspended 96-year-old Judge Pauline Newman from hearing ...
NEW YORK: On Tuesday, former U.S. Congressman Stephen Buyer was sentenced to 22 months in prison for trading on inside ...
NEW YORK: This week, the Virginia-based Students for Fair Admissions, founded by affirmative action opponent Edward Blum, sued the U.S. ...
LONDON, U.K.: Jet engine maker CFM International said this week that thousands of engine components may have been sold with ...
BATAM, Indonesia: Due to mounting geopolitical tensions and protests against China's activities in the South China Sea, ASEAN member nations ...
FREMONT, California: This week, brain-chip startup Neuralink, owned by billionaire Tesla CEO Elon Musk, said an independent review board granted ...