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The In-Vitro diagnostics are the tests performed outside the human body by isolating blood and tissue specimens for detection of body’s condition, helping in the prevention and control of diseases.
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The global IVD market is expected to grow at a CAGR of more than 6% from 2014 to 2020 to reach a market size of more than $90 by the end of 2020. In the report, the IVD market has been segmented on the basis of techniques, products, applications, and end-users. The market assessment of the above mentioned segments is made across the geographies such as North America, Europe, Asia-Pacific, LATAM and MENA. Major factors such as technological advancements in the diagnostics, and rising healthcare awareness, increased incidence of chronic and infectious disease, demand for POCT devices are boosting the market growth However, intensified competition, reimbursement issues, and affordability of healthcare diagnostics are hindering the IVD market growth.
The global IVD market by technique is segmented into clinical chemistry, Immunochemistry or Immunoassay, haematology, coagulation, microbiology, molecular diagnostics and other clinical instruments. Immunochemistry or Immunoassay accounted for the largest share in 2013 and is growing at a steady pace. Whereas, molecular diagnostics market segment is expected to register the highest CAGR of more than 9% from 2014 to 2020. IVD products market is categorized based on instruments, reagents, data management software/hardware and services. Reagents market commanded the largest share in 2013 and is expected to grow at the highest CAGR of more than 7% during the forecast period.
The global IVD market by application is segmented into...