In-vitro diagnostics are medical examinations that assist doctors to diagnose a patient’s condition and provide appropriate treatments. Blood, tissue, saliva, or other samples from a human’s body are collected which on analyzing can help detect infections, diseases and other conditions. Since in-vitro means in-glass, these tests are conducted in either test tubes or similar equipments. The samples can be collected at laboratories, healthcare facilities or at home while the test is generally performed in specialized centers like laboratories and hospitals where adequate equipments are available.
The Global in vitro diagnostic market size was US$65147.91 Million in 2019 and is expected to reach US$121864.93 Million by 2030; This converts into a compounded annual growth rate (CAGR) of 5.9% for the forecast period.
The Global In-Vitro Diagnostic Market is segmented to include.
By Test Type:
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Based on product, the in-vitro diagnostic market is divided into – instruments, consumable, kits, reagents and software. The consumables segment dominated the market capturing more than 20%. The factors responsible for the lead of this segment are rising need to identify diseases, growing use of kits and reagents and low cost. The kits segment is projected to be the fastest growing among the different product types. It is estimated to expand at a compound annual growth rate of over 6%.
The market is studied by analyzing all the key market participants across the ecosystem. The key players in the global in-vitro diagnostic market include, but not limited to:
Market Geography Overview: Based on geography market is segmented as below:
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