The Asia Pacific in vitro diagnostics market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing occurrence of chronic illness and infectious diseases along with the growing recognition levels of advanced diagnostic solutions.
In vitro diagnostics (IVD) are tests conducted on tissue or blood in order to detect diseases and other illness of a patient. The use of the diagnostic can help to provide effective treatment of diseases to enhance the chance of cure. Moreover, IVD is widely used to determine range of benefits or certain challenges in terms of applying certain therapies or specific treatments. It also includes several advanced process such as next generation sequencing tests, which can examine a person’s DNA to detect genetic disparity.
Market Trends, Drivers, Restraints, and Opportunities
- Rapid advancement in innovative technology and availability of sophisticated diagnostic solutions are expected to boost the market in the coming years.
- Increasing investment in healthcare settings in emerging countries due to high prevalence of chronic illness is a key driver of the market.
- Introduction of advanced technology and wide use of Point-of-Care (POC) diagnostics in in-vitro products present a major factor driving the market.
- Strict government rules for the approval of devices or products and issues regarding complex reimbursement policies are major restraining factors of the market.
- Rising awareness among people and acceptance of personalized medicine with the wide adoption of companion diagnostics are major factors offering several growth opportunities of the market.
Scope of the Report
The report on the Asia Pacific in vitro diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Asia Pacific In Vitro Diagnostics Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Technologies (Microbiology, Clinical Chemistry, Molecular Diagnosis, Coagulation, Hematology, and Immunoassays), Applications (Autoimmune Diseases, Cardiology, Infectious Diseases, HIV, Nephrology, Drug Testing, and Oncology), Product Types (Instruments, Services, and Reagents), and End-users (Homecare Diagnostics, Laboratories, Hospitals, and Others)
Japan, India, China, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Becton, Dickinson and Company; Affymetrix, Inc.; BioMerieux, Inc.; Danaher Corporation; Alere, Inc.; Roche Diagnostics; Bio-Rad Laboratories, Inc.; Abbott Laboratories, Inc.; Siemens Healthcare Diagnostics, Inc.; and Vela Diagnostics, Inc.
Market Segment Insights
Clinical chemistry segment to expand at a considerable CAGR
On the basis of technologies, the market is segregated into microbiology, clinical chemistry, molecular diagnosis, coagulation, hematology, and immunoassays. The clinical chemistry segment is projected to expand at a considerable CAGR during the forecast period. The rising in adoption of the molecular tests and wide adoption of clinical chemical technology for the majority of the diseases are key drivers of the segment. On the other hand, the microbiology segment is anticipated to account for a major market share during the forecast period. Rising adoption of tests conducted by organizations to enhance patient outcomes using rapid diagnostic techniques and cost-effective presents a key driver of the segment.
Infectious diseases segment to account for large revenue share
Based on applications, the Asia Pacific in vitro diagnostics market is divided into autoimmune diseases, cardiology, infectious diseases, HIV, nephrology, drug testing, and oncology. The infectious diseases segment is expected to account for large revenue share during the forecast period owing to the increasing awareness among people regarding the easy accessibility of these automation advanced diagnostics for the treatment of infectious diseases. However, the cardiology segment is anticipated to hold a key share of the market in the coming years due to the existence of unfulfilled healthcare and favorable government initiatives regarding the treatment of heart patients.
Instruments segment to grow at a rapid pace
Based on product types, the market is divided into services, instruments, and reagents. The instruments segment is expected to grow at a rapid pace during the forecast period due to the availability of a wide range of diagnostics kits and the extensive use of instrument or devices for disease treatments. However, the reagents segment is anticipated to hold a key share of the market in the coming years owing to increasing demand for advanced reagents in the IVD market.
Homecare diagnostics segment to register a high CAGR
On the basis of end-users, the Asia Pacific in vitro diagnostics market is fragmented into homecare diagnostics, laboratories, hospitals, and others. The homecare diagnostics segment is anticipated to register a high CAGR during the forecast period due to the rising number of initiatives to decrease hospital stays as well as growing demand for rapid diagnostic tests at home. However, the laboratories segment is anticipated to hold a key share of the market in the coming years due to the wide laboratory experiment of IVD.
China is anticipated to constitute a key market share
In terms of regions, the market is classified as Japan, India, China, and Rest of Asia Pacific. China is expected to constitute a key share of the market during the projected period due to the rising healthcare expenditure and GDP growth in the country. However, the market of India is anticipated to expand at a rapid pace during the forecast period owing to growing number of the population base, growing high demand for the testing of outpatients, and medical coverage.
The Asia Pacific in vitro diagnostics market has been segmented on the basis of
- Clinical Chemistry
- Molecular Diagnosis
- Autoimmune Diseases
- Infectious Diseases
- Drug Testing
- Homecare Diagnostics
- Rest of Asia Pacific
- Becton, Dickinson and Company
- Affymetrix, Inc.
- BioMerieux, Inc.
- Danaher Corporation
- Alere, Inc.
- Roche Diagnostics
- Bio-Rad Laboratories, Inc.
- Abbott Laboratories, Inc.
- Siemens Healthcare Diagnostics, Inc.
- Vela Diagnostics, Inc.
Key players competing in the Asia Pacific in vitro diagnostics market are Becton, Dickinson and Company; Affymetrix, Inc.; BioMerieux, Inc.; Danaher Corporation; Alere, Inc.; Roche Diagnostics; Bio-Rad Laboratories, Inc.; Abbott Laboratories, Inc.; Siemens Healthcare Diagnostics, Inc.; and Vela Diagnostics, Inc.
The companies were majorly competing in the development of new products through extensive R&D activities. For instance, in March 2016, Cepheid announced its FDA hold with test ‘XpertCarba-R’, an in vitro diagnostic test that sanction successful search of carbapenem resistance genes.