In vitro diagnostics is a technique used to identify several diseases and health conditions in a controlled artificial environment. The wide scope of application in various biological and medical diagnostics industries offers a competitive edge to the IVD device and reagents manufacturers. Likewise, factors such as, increasing government initiatives, growing R&D activities for advanced diagnostics techniques, improving healthcare infrastructure, and rising per capita healthcare expenditure largely drive the Asia Pacific IVD market growth. On the other hand, lack of harmonization in regulatory guidelines coupled with inadequate reimbursement policies and technological barriers are hindering the market growth.
According to the report published by Allied Market Research, Asia Pacific IVD Market by Product Type (Reagents, Instruments, and Software & Services), by Technique (Immunodiagnostics, Blood Testing, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Other IVD Techniques), by Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Other Indications), and by End Users (Standalone Laboratory, Hospitals, Academic and Medical Schools, Point of Care Testing, and Others) – Opportunity Analysis and Industry Forecast, 2022-2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Immunodiagnostics occupied the highest share of the market in 2016 and is expected to maintain the lead during the forecast period owing to increase in prevalence of infectious diseases and rise in trend of personalized medicines.”
Japan accounted for more than one-third share in 2021, and is expected to dominate the market throughout the forecast period and is attributed to increase in incidence of communicable and non-communicable diseases such as tuberculosis, diabetes, and cancer and rise in geriatric population, which is susceptible to these diseases and well-established healthcare systems. In addition, lucrative growth opportunities in the economic emerging countries is anticipated to provide new growth opportunities for the key players in the market. However, India is estimated to register the highest growth rate during the forecast period, owing to rise in government healthcare expenditure, increase in per capita income, growth in demand for healthcare devices from large pool of patient population, and improvement in healthcare infrastructure.
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The major players profiled in the Asia-Pacific IVD market are Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson among others.
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