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United States In-Vitro Diagnostics Markets, 2019-2024: Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics - ResearchAndMarkets.com

March 22, 2019

DUBLIN--(BUSINESS WIRE)--Mar 22, 2019--The “US In-Vitro Diagnostics Market- Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.

The key factors propelling the growth of the market is the high prevalence of chronic diseases, increasing use of POC (Point-of-care) diagnostics, advanced technologies, and increasing awareness and acceptance of personalized medicine. The increasing government healthcare expenditure and consumer’s healthcare spending are also responsible for the growth of the market.

The increase in the US in vitro diagnostics market is majorly due to the high prevalence of chronic diseases, such as heart diseases, cancer, asthma, and diabetes. It is estimated that these diseases are responsible for the majority of deaths in the United States, killing more than 1.7 million US citizens annually. Thus, IVDs have proved to be beneficial in managing these chronic conditions. IVDs help in the detection of early warning signs and individual risk factors, creating new opportunities for prevention and early intervention.

There are also emerging technological innovations, such as lab-on-a-chip, wearable devices, and POC diagnostics that are increasingly becoming an important part of the healthcare landscape. These POC diagnostic products have been developed to be used on a patient’s bedside in hospitals, to get instant results without the need of sending the samples to the lab. Thus, owing to the ease of use and the ability to provide instant results, the use of POC diagnostics in the United States is increasing rapidly.

Scope of the Report

As per the scope of the report, in vitro diagnostics are the medical devices and consumables utilized to perform in vitro tests on various biological samples. They are basically used for the diagnosis of various medical conditions. These in vitro diagnostics products can be instruments, reagents, or any system used for the diagnosis of diseases.

Key Market Trends

Cancer/Oncology is the Segment by Application that is Expected to Grow the Fastest During the Forecast Period

Oncology is expected to witness the fastest CAGR, due to the rising number of cancer cases in the United States. There is also an increasing demand for self-care devices and POC diagnostics in the United States for the treatment of chronic diseases that is expected to boost the market growth in the forthcoming years.

The infectious disease segment also holds the largest market share, due to a high prevalence of pneumonia, tuberculosis, and HIV/AIDS. Thus, with the increasing cases of infectious diseases, it is expected to contribute to the growth of the US in vitro diagnostics market.

Hospitals is the Largest Segment by End User that is Expected to Grow During the Forecast Period

Hospitals hold the largest market share, in terms of revenue, owing to the large volume of diagnostic tests carried out in hospitals and the rising volumes of Class II and Class III IVD medical devices that are being readily used for diagnostic testing. The healthcare professionals present in hospitals mostly utilize in vitro diagnostics for disease detection and to get the best results for each patient.

Competitive Landscape

Companies, like GE Healthcare, Becton Dickinson, and Quidel, are adopting strategic actions, mergers and acquisitions, and continued technological advancements, in order to retain their market share in the future. The companies are focusing on increasing technological advancements in order to address the customer needs, like fully automated systems that provide fast and accurate results.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Dynamics

4.1 Market Overview

4.2 Market Drivers

4.2.1 High Prevalence of Chronic Diseases

4.2.2 Increasing Use of Point-of-care (POC) Diagnostics Spurring the IVD Market

4.2.3 Increasing Government Healthcare Expenditure and Consumer’s Healthcare Spending

4.2.4 Advanced Technologies Fueling the IVD Market

4.2.5 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics

4.3 Market Restraints

4.3.1 Lack of Proper Reimbursement

4.3.2 Stringent Regulatory Framework

4.3.3 Need For High Complexity Testing Centers

4.4 Porters Five Forces Analysis

5 Market Segmentation

5.1 By Technique

5.1.1 Immunochemistry

5.1.2 POC Diagnostics

5.1.3 Molecular Diagnostics

5.1.4 Hematology

5.1.5 Tissue Diagnostics

5.1.6 Microbiology

5.1.7 Glucose Monitoring

5.1.8 Other Techniques

5.2 By Product

5.2.1 Instruments

5.2.2 Reagents

5.2.3 Data Management Systems

5.3 By Usability

5.3.1 Disposable IVD

5.3.2 Reusable IVD

5.4 By Application

5.4.1 Infectious Diseases

5.4.2 Diabetes

5.4.3 Cancer/Oncology

5.4.4 Cardiology

5.4.5 Autoimmune Diseases

5.4.6 Nephrology

5.4.7 Drug Testing

5.4.8 HIV/AIDS

5.4.9 Other Applications

5.5 By End User

5.5.1 Laboratories

5.5.2 Hospitals

5.5.3 Academia

5.5.4 Other End Users

6 Competitive Landscape

6.1 Company Profiles

6.1.1 Abbott Laboratories

6.1.2 F. Hoffmann-La Roche Ltd

6.1.3 Becton Dickinson & Company

6.1.4 Danaher Corporation

6.1.5 bioMerieux SA

6.1.6 Bio-Rad Laboratories, Inc.

6.1.7 Thermo Fisher Scientific Inc.

6.1.8 Qiagen

6.1.9 Siemens Healthcare GmBH

6.1.10 Sysmex Corporation

7 Market Opportunities and Future Trends

For more information about this report visit https://www.researchandmarkets.com/research/ncvg32/united_states?w=4

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Related Topics:In Vitro Diagnostics

KEYWORD: UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 03/22/2019 08:47 AM/DISC: 03/22/2019 08:47 AM

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