SOURCE: MarketResearch.com

MarketResearch.com

February 07, 2012 05:08 ET

Market Research Estimates In-Vitro Diagnostic (IVD) Market at $44 Billion

ROCKVILLE, MD--(Marketwire - Feb 7, 2012) - MarketResearch.com has announced the addition of the new report "In-vitro Diagnostic (Ivd) Market (Applications, End-users & Types) - Trends & Global Forecasts (Major & Emerging Markets - G7, Japan & Bric) (2011 - 2016)," to their collection of In Vitro Diagnostics market reports. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/vitro-Diagnostic-Ivd-Applications-End-6789098/

The global IVD market was valued at $44 billion in the year 2011, growing at a CAGR of 7.8% from 2011 to 2016. The U.S. represented the biggest market for the IVD equipments accounting for a share of 47% of the total IVD market in the year 2011.

The European region accounted for 31% of the global IVD market with Germany accounting for the largest share of 23.24% followed France (16.89%) and Italy (16.41%) of the total IVD market.

The Asian region is expected to be ruled by the emerging economies such as China and India, show the highest CAGR by the year 2016. The Chinese IVD market is taking a frog leap amongst the emerging nations, followed by India, Russia, and Brazil. The major driving factor for the IVD industry to boom in the emerging countries is the government funding and improved healthcare facilities.

However, the condition is completely reverse in the developed countries such as North America and Eu-5 as these countries are facing major financial crisis and thus are having deep cuts on the healthcare budgets with limited reimbursements provided on the clinical testing and the newly introduced tests in the market thus hampering the growth of IVD industry.

The major factors driving the growth of the IVD market are increased patient awareness, patient self testing, and increasing baby booming population across the globe. Advancement in the technology bringing more of automated tests is also one of the major drivers for the growth of IVD market.

Other major drivers for the growth of the IVD industry are the rise in the number of diseases like respiratory infections, hospital acquired infections, and sexually transmitted diseases. Similarly, the rise in the chronic diseases such as diabetes, hypertension, cardiovascular diseases, and cancer are driving the overall IVD market.

For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/vitro-Diagnostic-Ivd-Applications-End-6789098/

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