The Asia Pacific In Vitro Diagnostics (IVD) market is expected to
reach USD 33.4 billion by 2024, according to a new report by Grand View
Research, Inc. The Asia Pacific IVD market is anticipated to witness lucrative
growth during the period 2016 to 2024. The growth of the market is attributed
to an increase in the number of infectious and chronic diseases as well as
technological advancements in the field of in vitro diagnostics.
Additionally, factors such as an
increase in per capita income, the swiftly growing economies of India and
China, increase in gross domestic product, and the rising disposable income are
expected to be opportunistic for the industry growth. However, the presence of
stringent regulatory policies, inadequate budget, and reimbursement issues are
likely to hinder the growth of the market in the near future.
The Asia Pacific IVD market is
segmented into technology, application, end-user, and region. Based on the
product type, the industry is categorized into reagents, instruments, and
services. The reagents market is estimated to hold the largest revenue share
owing to the extensive use of reagents in diagnostics.
The molecular diagnostics segment
is anticipated to be the fastest growing segment. On the basis of application,
the market is categorized into infectious diseases, oncology, cardiology,
nephrology, autoimmune diseases, HIV and drug testing. The large market share
of this segment is attributed to the rising prevalence of infectious diseases.
End-user applications include hospitals, laboratories, homecare diagnostics,
and research institutes among others.
Browse full research report on Asia
Pacific In Vitro Diagnostics (IVD) Market: http://www.grandviewresearch.com/industry-analysis/asia-pacific-in-vitro-diagnostics-ivd-market
Further key findings from the study suggest:
- In terms of growth, the Chinese in vitro diagnostics industry is anticipated to witness rapid growth in the next few years. Factors attributing to the growth of this industry in China include the increasing healthcare expenditure, GDP growth, rising population base, and more favorable health insurance coverage.
- Infectious diseases segment was identified as the largest revenue generating category in the application segment and is estimated to maintain its position due to the continual rise in the number of diseases estimated for the next few years.
- The in vitro diagnostics industry comprises several local as well as global players. Some of the major players in this industry include Danaher Corporation, Affymetrix, Inc., Abbott Laboratories, Alere, Inc., Roche Diagnostics among others.
- In order to gain a major share in the industry, the companies adopted both organic as well as inorganic growth strategies. The key strategies undertaken by the companies are new product development, mergers, collaborations, partnerships, geographical expansions, and acquisitions. For instance,in October 2015, Cepheid announced the launch of its newly developed, FDA approved test ‘Xpert TV’, an in-vitro diagnostic test for the accurate identification of Trichomoniasis in female patients.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research has segmented the Asia Pacific in vitro
diagnostics market on the basis of end-user, application, and region:
Asia Pacific In Vitro Diagnostics Product Outlook
(Revenue, USD Million, 2013 - 2024)
- Reagents
- Instruments
- Services
Asia Pacific In Vitro Diagnostics Technology Outlook
(Revenue, USD Million, 2013 - 2024)
- Immunoassays
- Clinical Chemistry
- Hematology
- Molecular Diagnosis
- Microbiology
- Coagulation
- Others
Asia Pacific In Vitro Diagnostics Application
Outlook (Revenue, USD Million, 2013 - 2024)
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Drug Testing
- Others
Asia Pacific In Vitro Diagnostics End-User Outlook
(Revenue, USD Million, 2013 - 2024)
- Hospitals
- Laboratories
- Homecare Diagnostics
- Others
Asia Pacific In Vitro Diagnostics Regional Outlook
(Revenue, USD Million, 2013 - 2024)
- India
- China
- Japan
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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