Companies in the in-vitro diagnostics market are very active with multiple strategic collaborations and agreements. Top companies in the in-vitro diagnostic market are strategically partnering and collaborating with other companies to broaden their products, technologies and services. For instance, in February 2015, Roche acquired Signature Diagnostics to strengthen its cancer diagnostics effort with Signature’s expertise in both next-generation sequencing (NGS) assays and biobanks. In February 2014, Thermos Fisher Scientific acquired the Life Technologies Corporation to transform into a major player in the segment of next-generation sequencing space.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL IN-VITRO DIAGNOSTICS MARKET TO GROW TO NEARLLY $68 BIILLION BY 2021
Asia Pacific was the largest region in the in-vitro diagnostics market in 2017, accounting for nearly one-third of market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, demand for point-of-care diagnostic devices is increasing as they provide rapid results, are cost effective and have advanced diagnosis features for patients. The number of patients seeking treatments at local physician offices, retail clinics and in-patient homes are increasing thus boosting the demand for point-of-care testing devices. Companies in this market are focusing on developing more user friendly, reliable and efficient point of care devices.
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Siemens Healthineers was the largest player in the in-vitro diagnostics market, with revenues of $16 billion in 2017. Siemens Healthineers growth strategy aims at strengthening its portfolio across the medical imaging and laboratory diagnostics business while adding new offerings such as managed services, consulting and digital services in the growing market for therapeutic and molecular diagnostics. In the first quarter of 2016, Siemens Healthineers made a strategic collaboration agreement with Profound Medical Corp aimed at establishing a new Magnetic Resonance Imaging (MRI) -guided therapy in the clinical routine for prostate cancer patients.
In-vitro diagnostics (IVD) are used to detect diseases, infections, and conditions and also monitor a person’s state of health and therapeutic procedures by examining specimens derived from the human body such as tissue, blood, stools, urine and the other body fluids. Significant technologies incorporated in in-vitro diagnostics are polymerase chain reaction, microarray techniques, sequencing technology and mass spectrometry, which are used for test sample preparation. In-vitro diagnostic medical devices include reagents, reagent products, control materials, calibration materials, kits, instruments, apparatus, systems, equipment, pregnancy tests, urine test strips, blood sugar monitoring systems for diabetics and receptacles for medical specimens.
In-Vitro Diagnostics Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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