Global in-Vitro Diagnostics Market to Reach Worth Usd 81.35 Bn by 2022: Credence Research

According to the latest report published by Credence Research, Inc. “Global In-vitro Diagnostics Market - Growth, Opportunities, Competitive Analysis, and Forecast, 2016 - 2022,” the in-vitro diagnostics market was valued at USD 60,468.7 Mn in 2015, and is expected to reach USD 81,345.1 Mn by 2022, expanding at a CAGR of 4.2% from 2016 to 2022.

Browse the full report Global In-vitro Diagnostics Market - Growth, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/in-vitro-diagnostics-ivd-market

Market Insights

The need for in-vitro diagnostics is on a consistent rise due to growing incidence of chronic diseases, infections and high risk ageing population. Growing scope of personalized medicine, molecular diagnostics and growing knowledge about exploration of rare diseases and their treatments are further supporting the growth of in-vitro diagnostics market. On the other hand, rigorous regulatory requirements and dicey reimbursements will hold back the hold of this market.

Reagents, instruments, and software and services is the product level segmentation of the global in-vitro diagnostics market. Among these, reagents take over 30% of the overall market share in 2015, due to large scale consumption of these products across all IVS techniques. Additionally, the software and services segment is anticipated to progress at a faster growth rate during the forecast period attributed by the growing need for widest automation and centralization of IVD processes and techniques at a precision at par.

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Molecular diagnostics is observed to be the most remarkable IVD technique during the forecast period. Growing applicability of MDx is attributed to its efficacy in understanding disease mechanism and thus their vital role in discovery of appropriate and...