In vitro diagnostics (IVD) is the
technique of diagnostic test outside the human body in an artificial
environment. The IVD market revenue is expected to reach $74.65 billion by
2020, from the market value of $53.32 billion in 2013, at a CAGR of 5.34%
during 2014-2020. The global IVD market is segmented based on techniques,
product type, usability, application, end user and geography (North America,
Europe, Asia Pacific and Rest of World). Geographically, Asia Pacific is the
fastest growing region and very opportune market that would generate highest
revenue by 2020.Increase in the number of chronic and infectious diseases, and
technological advancements are the major driving factors for the market.
Widespread knowledge of healthcare & its benefits, and cost effectiveness
are some top impacting factors of the global IVD market. The stringent
regulatory policies and reimbursement issues are limiting the growth of the
market. Furthermore, the rising demand for technologically advanced diagnosis
devices and increased spending capabilities of consumers on health care
provides huge potential for IVD in Asia Pacific market.
Get full report at: http://www.analyzefuture.com/ivd-in-vitro-diagnostics-market
The market exploration provides a clear
view of global IVD market. Porter’s five-force model helps in analyzing market
players, new entrants in the market and the novel strategies adopted by them.
In the current business scenario, IVD market has moderate bargaining power of
supplier due to existence of brand loyalty. Varying product differentiation
would lead to moderate buyers’ bargaining. High entry barriers lead to lower
threat of new entrants. Intersegment substitution leads to lower threat of
Substitute. The value chain analysis reveals the key intermediaries involved in
the supply chain. Raw material suppliers, medical device manufacturers,
distributors, service providers and end users are the various stakeholders
involved in the supply chain of IVD market.
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