Latest Report Available at Orbis research In-Vitro Diagnostics Market provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.
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The U.S. In-Vitro Diagnostics market has been estimated to reach USD 13.57 billion in 2017.The market is expected to register a CAGR of 5.57% during the forecast period 2018 to 2023. Due to increasing incidences of chronic diseases and rapid adoption of point of care testing along with increasing preference for personalized medicine, the In-vitro diagnostics market in United States is expected to lead the global In-vitro diagnostics market in the forecast period.
Increasing Incidences of Chronic Diseases
According to Centers for Disease Control and Prevention, chronic diseases were the leading cause for death and disability in United States. It also states that, in 2012 there were more than 117 million people or nearly half of all adults who had one or more chronic health condition. As of 2015, chronic diseases were responsible for 7 out of 10 deaths among Americans each year and has also accounted for approximately 86% of the nation’s healthcare costs. This trend of prevalence of chronic diseases is likely to continue in the near future. Since most of the chronic diseases are diagnosed by In-vitro tests, the increasing trend of chronic diseases is expected to drive the United States
In-vitro diagnostics market in forecast period.
In addition, increasing government healthcare expenditure along with rapid adoption of point of care testing is also expected to boost the In-vitro diagnostics market in United States.
Stringent Regulatory Framework
According to FDA (Food and Drug Administration) in U.S., the In-vitro diagnostics are considered devices, and more specifically as medical devices category. Since, IVDs include products used to collect specimens, or to prepare or examine specimens (e.g., blood, serum, urine, spinal fluid, tissue samples) after they are removed from the human body, maximum precaution is needed to prevent contamination even within the device. The guidelines laid for these devices are to be strictly followed, denial of which may result in product recalls, and thus many companies are reluctant to enter in this market, which is acting as a major restraint for the U.S In-vitro diagnostics market.
Additionally, lack of favorable reimbursement policies in the field of In-vitro diagnostics is also hindering the growth of market in United States.
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Immunoassay to Dominate the Market
The In-vitro Diagnostics market is segmented by technique, product type, application type and end users.
By technology type, Immunoassay dominates the In-vitro diagnostics market in U.S, this is due to high accuracy of these tests along with less time consumption. The advent of point of care testing which utilizes mainly immunoassay technology is also a major factor responsible to drive the market for In-vitro diagnostics in United States. Although immunoassay dominates the market, the molecular diagnostics segment is expected to grow with a highest CAGR in the overall In-vitro diagnostics market.
Key Developments in the Market
January 2018: Qiagen and DiaSorin partnered to offer Qiagen’s QuantiFERON-TB Gold Plus on Diasorin’s LIAISON analyzer systems. Qiagen has already reached a milestone of over 40 million QuantiFERON-TB tests since launch and is expected to increase this numbers in the forecast years.
January 2018: Clearbridge Bio Medics has announced that it has successfully registered the ClearCell FX1 system with U.S FDA. It has registered ClearCell FX1 system as a Class I medical device for use in In-vitro diagnostics.
Key players: ABBOTT LABORATORIES, INC., JOHNSON & JOHNSON, BECTON, DICKSON AND COMPANY, DANAHER CORPORATION, THERMO FISHER SCIENTIFIC, INC., BIO-RAD LABORATORIES, INC., ALERE, INC., ROCHE DIAGNOSTICS LIMITED and SIEMENS HEALTHCARE.
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Market analysis for the U.S. In-Vitro Diagnostics Market, with region-specific assessments and competition analysis on a regional scale.
Analyzing various perspectives of the industry with the help of Porter’s five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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ABBOTT LABORATORIES INC.,
JOHNSON & JOHNSON,
BECTON, DICKSON AND COMPANY,
THERMO FISHER SCIENTIFIC INC.,
BIO-RAD LABORATORIES INC.,
ROCHE DIAGNOSTICS LIMITED,
Some points From TOC:
1.1 MARKET DEFINITION
- RESEARCH METHODOLOGY
- EXECUTIVE SUMMARY
- KEY INFERENCES
- MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTER’S FIVE FORCES ANALYSIS
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
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