North America In Vitro Diagnostics Market 2019 by Technology Types, Applications, End-Users, Revenue, Cost, Demand, Trends and Investment Opportunities to 2025

This market research report includes a detailed segmentation of the North America in vitro diagnostics market – by technology types (clinical chemistry, molecular diagnostics, immunoassay, clinical microbiology, coagulation, hematology, and others), by applications and forecast up to 2025

Dallas , United States - August 24, 2019 /MarketersMedia/ —

The North America In Vitro Diagnostics market will grow at a CAGR of 5.17% during the forecast period 2019–2025. The market has witnessed steady growth in the past few years, and the advancements in technology with the introduction of innovative products have increased the adoption of in vitro diagnostics products in the market. The market is fueled by the increasing incidence of lifestyle and chronic diseases, rising adoption of point-of-care testing (POCT), the upsurge in the biomarker-based tests, and growing significance of companion diagnostics.

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The market continues to grow, and in vitro diagnostics is one of the most widely used techniques for screening, diagnosis, treatment, and monitoring purposes. The field is getting revolutionized with the advancement in technology. Vendors are focusing on new product launches, approvals, and targeting toward end-user’s perspective. The market generates revenue from the key players operating in this field, and few of them include Abbott Laboratories, F. Hoffmann-La Roche, Thermo Fisher Scientific, Danaher Corporation, and Sysmex Corporation.

The US accounted for the largest share of the North America in vitro diagnostics market in 2018 and “others” segment is expected to grow a high CAGR during the forecast period. According to the estimation of the National Cancer Institute, in the US, around 1.6 million new cases of cancer were diagnosed, and 595,690 people have died due to cancer in 2016. In 2016, Canada had an estimated 202,400 new cases of cancer and nearly 78,000 deaths according to the Canadian Cancer Society. Lifestyle-related diseases such as diabetes and heart diseases are becoming a major threat to the population across the world with 425 million people suffering from diabetes. Cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the US and on an average, one person dies from CVD every 40 seconds in the US. Favorable reimbursement policies, the presence of dominant market vendors in the country, increased awareness among patients, availability of government funds, and increasing adoption of molecular diagnostics make the US a dominant shareholder in the market.

By Technology Types:
• Clinical Chemistry
• Molecular Diagnostics
• Immunoassay
• Clinical Microbiology
• Coagulation
• Hematology
• Others

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In 2018, the clinical chemistry segment occupied the largest share, and molecular diagnostics segment is expected to grow at a high CAGR during the forecast period. Clinical chemistry includes metabolic panel, electrolyte panel, liver panel, lipid profile, renal profile, thyroid function panel, and specialty chemistry tests. Increased technological advancements such as next-generation sequencing & polymerase chain reaction and growing number of strategic deals are likely to propel the molecular diagnostics segment during the forecast period.

By Applications:
• Oncology
• Infectious Disease
• Diabetes
• Cardiology
• Nephrology
• Autoimmune Disease
• Others

The infectious disease segment occupied a major market share in 2018, and the oncology segment is predicted to hold a significant share during the forecast period. Increase in the prevalence of the disease such as tuberculosis & pneumonia and growing healthcare awareness among the population make the segment a dominant shareholder.

By End-users:
• Hospitals
• Laboratories
• Home Care
• Academic & Research Institutes
• Others

Hospitals occupied a significant market share in 2018, and hospitals and laboratory segments are expected to dominate the market for the next few years.

By Country:
• US
• Others

The US occupied a significant market share in 2018, and the “others” segment is expected to grow at a high CAGR during the forecast period. The increased technological advancement and higher GDP of the nation make “others”, that includes Canada and Mexico, the fastest growing segment during the forecast period.

In Vitro Diagnostics Market Research Competitive Analysis – The in vitro diagnostics market has massive growth opportunities in the North American region. The advancements of technology will increase competition among vendors. The diagnostics and biotechnology continuously focus on the market due to an increase in lifestyle and chronic diseases. This has resulted in approvals and collaborations related to in-vitro diagnosis in recent years. For instance, Roche launched VENTANA pan-TRK (EPR17341) Assay to detect tropomyosin receptor kinase (TRK) to diagnose multiple solid tumor types at the end of 2018. FDA has approved F1CDx test to identify genetic alterations in tumors in December 2017. The genomic test can identify cancer-related alterations in 324 genes in any type of solid tumor. FDA approved Ortho Clinical Diagnostics VITROS Immunodiagnostic Products HIV Combo Reagent Pack and Calibrator for use on the VITROS 5600 Integrated System in 2018. This 4th generation test can detect both HIV-1 and HIV-2 antibodies as well as the p24 antigen, which provides a shorter diagnostic window compared to 3rd generation assays. In late 2018, Precision for Medicine acquired ApoCell, a next-generation lab specializing in the identification and analysis of biomarkers. In addition, other leading players are focusing on hugely investing in R&D activities to develop new products to attain the maximum share in the market.

Key Vendors:
• Abbott Laboratories
• F. Hoffmann-La Roche (Roche)
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• Sysmex Corporation
• bioMerieux S.A.
• Becton Dickinson and Company
• Bio-Rad Laboratories
• Qiagen N.V.
• Siemens Healthineers
• Ortho Clinical Diagnostics (Carlyle Group)

Major Point from Table of Content:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Technology Types: Market Size and Analysis
7 Applications: Market Size and Analysis
8 End-users: Market Size and Analysis
9 Country: Market Size and Analysis
10 Competitive Landscape
11 Vendors Profile
11.1 F. Hoffmann-La Roche Ltd.
11.2 Thermo Fisher Scientific Inc.
11.3 Abbott Laboratories
11.4 Danaher Corporation
11.5 Sysmex Corporation
12 Companies to Watch For

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