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.
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.
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In vitro diagnostics (IVD) unlike most of the diagnostic tests, is performed on the samples from the body and do not involve contact with the patient, thereby reducing the risk of infections to the patients. Constant technological developments to improve efficacy of IVD, large pool of geriatric population, rise in incidence, and prevalence of communicable and non-communicable diseases, and increase in government healthcare expenditure in Asia-Pacific region drive the market growth. However, stringent government regulations related to the safety and efficacy of the IVD and unfavorable reimbursement policies are expected to restrain the market growth during the forecast period. Ongoing R&D associated with the IVD and increased disposable income of consumers provides huge growth potential for IVD market.
The Asia-Pacific IVD market is categorized into several diagnostic techniques, among which, the immunodiagnostic and clinical chemistry segments hold the dominant share collectively accounting for half of the market share in 2021. The growing trend of diagnostic tools such as, clinical chemistry and molecular diagnostic would largely drive the market growth during the forecast period. However, blood testing is projected to be the fastest growing segment, owing to its frequent application and inherent convenience of using blood samples.
In 2015, the immune system disorder and infectious diseases application segments together held a dominant share, of around 50% of the Asia-Pacific IVD market. This is attributed to the growing incidence and prevalence of infectious diseases namely, HIV/AIDS and Hepatitis; and immune systems disorders namely, diabetes, and immune deficiency. The Stand-alone laboratories and hospital end user segments dominated the market in 2021 owing to frequent and primary use of in vitro diagnostic techniques for the detection of several diseases and disorders.
Key Findings of the Asia Pacific IVD Market:
- The reagents segment dominated the market in 2021 and is projected to grow at the 4.4% CAGR.
- The immunodiagnostics segment accounted for the highest share of two-ninths in 2021.
- The infectious diseases segment holds a large market share in the Asia-Pacific IVD market by application 2021.
- The standalone laboratory segment accounted for the highest share of two-ninths in 2021.
- Japan was the major shareholder of Asia-Pacific IVD market in 2016.
- India is expected to grow at the highest CAGR in the Asia-Pacific IVD market.
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The leading companies profiled in this report are, F. Hoffmann-La Roche AGR, Abbott Laboratories, Danaher Corporation, Johnson & Johnson, Sysmex Corporation,ย Becton Dickinsonย and Company, bioMrieux, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Siemens AG, and Alere Inc, Vela Diagnostics, Affymetrix, Alere Inc., Bio-Rad Laboratories, Arkray Inc., Sysmex Corporation, and Trans Asia BioMedicals Ltd.
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