The Eye Melanoma Market World Leading Key Players Revenue, Share, Analysis And Estimation Till 2023

 Market Research Future with their unique quality of simplifying the market research study, announces a deep study report on “Eye Melanoma Market Overview Report - Forecast to 2023” Gives industry size, top players and worldwide demand

Market Highlights

Increasing prevalence of the eye cancer, growing geriatric population, rising healthcare expenditures, and increasing research and development investments by the major players of the market are the major driver for the market growth. On the other hand factors such as lack of awareness, high diagnostics, and surgical procedures costs are projected to restrain the market growth during the estimated period. Laser iridotomy is estimated to cost around USD 1,068 to USD 1,188.

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Segmentation

The global eye melanoma market is segmented on the basis of the site, diagnosis, treatment, and end user.

On the basis of the site, the market is segmented into sclera, retina, uvea, and others. On the basis of the diagnosis, the market is categorized into eye exam, imaging, biopsy, and others. The eye exam segment is sub-segmented into ophthalmoscopy, slit-lamp biomicroscopy, and others. The imaging segmented is sub-segmented into ultrasound, fluorescein angiography, fundus autofluorescence, optical coherence tomography, and others. On the basis of the treatment, the market is segmented into radiation therapy, laser treatment, surgery, and others. The radiation therapy segment is sub-segmented into episcleral plaque therapy, external beam radiation therapy, and others. The surgery segment is sub-segmented into iridectomy, choroidectomy, enucleation, and others. On the basis of end users, the market is segmented into hospitals & clinics, academic institutes, and others.

Regional Analysis

America dominates the global eye melanoma market. The presence of a well-developed healthcare sector, huge patient population, changing lifestyle, and increasing health care expenditure are major drivers of the Americas market. Europe is the second leading region in the global eye melanoma market due to increasing availability of funds for research, well-developed healthcare sector, huge patient and growing geriatric population. The European region is bifurcated into Western Europe and Eastern Europe. Western Europe leads the market due to the presence of the developed economies, for instance, the U.K, France, and Italy. The Asia Pacific is the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies, and rising healthcare expenditure. The Middle East & Africa owns the least share of the global eye melanoma market due to the presence of poor economies and stringent government policies, especially in the African region. The Middle East holds a majority of the market due to a well-developed healthcare sector and huge healthcare expenditure by economies like Dubai, Kuwait, Dubai, and others.

Key Players

The key players for the global eye melanoma market are Castle Biosciences, Inc. (U.S.), GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (The Netherlands), TOSHIBA CORPORATION (Japan), Siemens AG (Germany), Analogic Corporation (U.S.), Optovue, Incorporated (U.S.), NOVADAQ Technologies Inc. (Canada), Agfa-Gevaert Group (Belgium), ZEISS (Germany), and others.

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Skin Cancer Market Expects An Extensive Growth In Roi Till 2023

 Market Scenario

Skin cancer is the most common type of cancer, which arise due to uncontrolled growth of abnormal skin cells. It occurs when skin cells are damaged by unrepaired DNA or genetic defects that lead the uncontrolled growth of cells in the skin. Over 100 types of cancer are found across the globe but skin cancer is the most common form of cancer, which accounts for at least 30% of total cancer cases. The prevalence of skin cancer is increasing owing to depleting ozone level and increasing solar UV radiation entering the Earth's surface. According to the WHO, it is estimated that a 10% decrease in the ozone level is likely to result in an additional 300,000 non-melanoma and 4,500 melanoma skin cancer cases.

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There are three major types of cancer: basal cell skin cancer (BCC), squamous-cell skin cancer (SCC) and melanoma. The basal cell skin cancer is the most common type of cancer. The major cause of the skin cancer is overexposure to harmful radiation and HPV infections, which increases the risk of skin cancer. The major driving factor for the growth of the market is increasing the prevalence of skin cancer. Furthermore, extensive R&D pipelines and increasing usage of combination therapies have fueled the growth of the market. On another hand, stringent regulatory guidelines, side effects associated with the treatment and long approval time for the drugs may hamper the growth of the market over the review period.

Asia Pacific skin cancer market is expected to grow at a CAGR of 8.8% during the forecasted period. 

Intended Audience

• Skin cancer drug manufacturers
• Skin cancer drug suppliers
• Research and Development (R&D) Companies
• Skin cancer market statistics
• Medical Research Laboratories
• Market Research and Consulting Service Provider

Segmentations
The Asia Pacific skin cancer market is segmented on the basis of type, treatment, and end users.

On the basis of the type, it is segmented into basal cell carcinoma, squamous-cell carcinoma, and melanoma.

On the basis of the treatment, it is segmented into non-invasive, chemotherapy, surgical, and other. Furthermore, non-invasive treatments are segmented into laser therapy, radiotherapy, photodynamic therapy, cryotherapy, and others. The chemotherapy is further segmented into systemic and targeted. The surgical treatment is segmented into photodynamic therapy, cryosurgery, Mohs micrographic surgery, and others.

On the basis of end users, the market is segmented into hospital and clinics, diagnostic centers, cancer research institute, and other.

Regional Analysis

On the regional basis, Asia Pacific market is segmented into Japan, India, China, the Republic of Korea, Australia, and the Rest of Asia Pacific.

Asia Pacific is the fastest growing skin cancer market. Japan, Australia, and China are the major contributor to the market growth. The incidence of skin cancer per 100,000 population is 20-25 cases in Japan, 11-12 cases in China. About 80% of the cases are basal cell carcinoma (BCC), 16% squamous cell carcinoma, and 4% are melanoma.

Continuously increasing the prevalence of skin cancer in Japan is driving the growth of this region. Furthermore, increasing government support for research and continuous development in technology is an important driving factor for the growth of the Asia Pacific market.

Key Players

Some of the key players in the market: F. Hoffmann-la Roche Ltd. (Switzerland), Novartis International AG (Switzerland), Sun Pharma Industries Ltd. (India), Elekta AB (Sweden), Varian Medical Systems Inc. (US), Cannabis Science Inc. (US), Cellceutix Corp. (US), LEO Pharma A/S (Denmark), Moberg Pharma AB (Sweden), Mylan Pharmaceutical Inc. (US), Oncothyreon Inc. (US), Eli Lilly and Co. (US), Bristol Myers Squibb Co. (US), Boehringer Ingelheim GmbH (Germany), Aqua Pharmaceuticals LLC (US), Valeant Pharmaceuticals Inc (Canada), Meda AB (US), iCAD Inc. (Sweden), and Merck & Co. Inc. (US).

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Robotics Prosthetics Market Research Report 2020 Analysis And Forecast To 2023

 Robotics Prosthetics Market report by MRFR contains all analytical and statistical transient regarding Market summary, Growth, Demand and Forecast analysis with penetrating summary and solution within the complex industry.

Robotics Prosthetics Market Overview

Market Research Future (MRFR) predicts a lucrative run for the global robotics prosthetics market at the rate of 9.5% during the forecast period (2018-2027).

Market Potential and Key Barriers

The expansion of the amputee population due to a rise in accidents, diabetes, vascular disease, and frostbite has led the market to greater heights in recent years. The data published by Amputee Coalition reveals that there are close to 2.1 million amputees in the United States (U.S.). The Statistics Brain Research Institute says that about 82% of the amputations were caused by vascular disease, 22% of the total cases occurred due to trauma, and 4% were related to congenital disabilities. On this basis, increasing prevalence of vascular diseases and diabetes have high chances of elevating the demand for robotics prosthetics in the following years.

Also Read : https://www.medgadget.com/2019/11/robotics-prosthetics-industry-overview-top-trends-in-2020-prosthetics-market-review-size-share-and-growth-insights-to-2027.html 

Rising number of technologically sophisticated products like RHEO KNEE, SYMBIONIC LEG 3, POWER KNEE, and PROPRIO FOOT is projected to uplift product awareness across various regions. In related news, Ossur had developed a mind-controlled prosthetic leg in 2015; which is currently undergoing a series of clinical trials. Boost in research and development (R&D) activities coupled with growing investment by private and public companies to upgrade prosthetic products could do wonders for the market in the speculated timeframe.

Several initiatives by the government along with nonprofit organizations like Douglas Bader Foundation, CDC, Amputee Coalition and Limbless Association to aid the amputees are prompting the private vendors to invest more in the market. In addition, as April is the Limb Loss Awareness month, this belief helps spread awareness about the limb loss community and also assist those affected by limb loss in achieving their full potential.

Regional Outlook

Middle East & Africa, Asia Pacific, the Americas and Europe are the key markets for robotics prosthetic.

Largest portion of the robotics prosthetics market is controlled by the Americas. Robust demand for robotic prosthetics in the United States (U.S.) results in regional dominance. Government support in the form of investments for developing technologically advanced prosthetic limbs for veterans and soldiers benefits the market. The Centers for Disease Control and Prevention revealed in 2015 that the high number of osteoporosis cases as well as low bone mass at the femur neck in the U.S. are prevalent mostly in adults aged 50 years. Besides, the highest prevalence of osteoporosis has been recorded among Mexican-American adults accounting for 24.9%, with the condition affecting about 15.7% of the non-Hispanic white adults. These factors are promoting market growth in the region, MRFR reports.

Europe stands as the second-biggest market for robotics prosthetics. The market growth is in response to the growing government support with respect to research and development in the robotics prosthetics fields. France and Germany witness massive investment in the healthcare domain, which makes them the top contributing countries in the region.

Asia Pacific notes the fastest growth rate in the worldwide market. In the region, India and China could note fast-track growth on account of the expanding aging population and the mounting awareness about advanced technology. Surging amount of funds for research and development, as well as the availability of best treatment options, add to the market strength. Increasing demand for sophisticated healthcare facilities as well as gadgets also pushes market growth to a great extent. Another critical factor could be the lower cost of treatment compared to other regions.

Middle East and Africa accounts for the smallest market for robotics prosthetics due to scarce investment and substandard healthcare infrastructure.

Robotics Prosthetics Market Companies

Players leading the robotics prosthetics market, include Touch Bionics Inc. (US), SynTouch, LLC (US), HDT Global Inc (US), Stryker Corporation (US), Smith & Nephew (UK), Shadow Robot Company (UK), ReWalk Robotics (Israel), Medrobotics Corporation (US), Aethon (US), Intuitive Surgical, Inc. (US), Mazor Robotics Ltd. (Israel), KUKA Roboter GmbH (Germany), Transenterix, Inc. (US), ZOLL Medical Corporation (US), and Hansen Medical, Inc. (US), among others.

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Market Segmentation

The report is segmented into five dynamics to widen the scope of understanding,

By-Products: Prosthetic Arms, Prosthetic Legs/Knees, Prosthetic Feet/Ankles, and Prosthetic Hands, among others.

By Technologies: Bluetooth, Microprocessor Knees, and Myoelectric Technology, among others.

By Application:  Lower Body and Upper Body Extremity, among others.

By End-users: Hospitals, and Clinics, among others.

By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).

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Osteoarthritis Market In Depth Study And Analysis Published, 2020

 Osteoarthritis Market report focuses on the key player’s profiles in detail with granular analysis of the market share, production technology, market entry strategies, revenue forecasts and regional analysis of the market.

The Global Osteoarthritis Market is poised to capture a CAGR of approximately 6.8% over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in a minutely analyzed research report.

The market is growing persistently on account of growing global geriatric population as it accounts for more disability among the elderly population than any other disease. Elderly patients have been reported to experience radiographic osteoarthritis which increases as patients age. Rising populace of obesity is also considered to be the driving factor in the growth of the global osteoarthritis market since obesity has also been identified as a risk factor for osteoarthritis. Obesity reduces the skeletal-weight-to-body-mass which results in compressive forces to joints. Although the treatment market for osteoarthritis is not robust, increased prevalence of the disease has resulted in increased R&D activities which are expected to bring new treatment options to the market.

Also Read : https://www.medgadget.com/2019/05/2019-osteoarthritis-market-demonstrate-a-strenuous-growth-at-a-cagr-of-6-8-up-to-2023-by-abiogen-pharma-s-p-a-abbott-merck-sharp-dohme-corp-novartis-ag-etc.html  

Moreover, raising awareness about the disease may induce demand for medications and boost market growth. Low access to healthcare and the side effects of the treatment procedures are the most significant hurdles to the growth of the global osteoarthritis market. Stem cells treatments have been demonstrated as a possible treatment for osteoarthritis which is expected to provide growth opportunities to the global osteoarthritis market.

Key Players for Global Osteoarthritis Market

• Pfizer Inc. (U.S.),
• Regeneron (U.S.),
• Ampio Pharmaceuticals Inc. (U.S.),
• ABIOGEN PHARMA S.p.A (Europe),
• Abbott. (U.S.),
• Merck Sharp & Dohme Corp. (U.S.),
• Novartis AG (Europe),
• Eli Lilly and Company. (U.S.),
• TissueGene Inc. (U.S.),

and others are the eminent players in the global osteoarthritis market.

Industry Updates

March 2019 – Researchers from the Kennedy Institute of Rheumatology at the University of Oxford, and Jenner Institute have collaboratively developed a vaccine that could be used to treat chronic pain caused by osteoarthritis. The virus-like particle vaccine is capable of triggering the immune system to produce antibodies which would help to block naturally-occurring NGF and alleviate osteoarthritis pain.

Segmental Analysis

The Global Osteoarthritis Market has been segmented based on type, diagnosis, treatment, and end user.

By type, the Global Osteoarthritis Market has been segmented into hip osteoarthritis, wrist osteoarthritis, spinal osteoarthritis, and others.

By diagnosis, the Global Osteoarthritis Market has been segmented into imaging, joint fluid analysis, and others. The imaging segment is sub segmented into X-rays, magnetic resonance imaging (MRI), and others.

By treatment, the Global Osteoarthritis Market has been segmented into medication, surgery, therapy, and others. The medication segment has been further segmented into analgesics and non-steroidal anti-inflammatory drugs, and others. The analgesics segment has been further segmented into acetaminophen, duloxetine, and others. The non-steroidal anti-inflammatory drugs sub-segment has been further segmented into aspirin, ibuprofen, naproxen sodium and naproxen, and others.

By end user, the Global Osteoarthritis Market has been segmented into hospitals & clinics, medical institutes, research organization, and others.

Regional Analysis of Global Osteoarthritis Market

By region, the Global Osteoarthritis Market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA.)

The majority of the market share is held by the Americas. massive patient population, high healthcare expenditure, and a robust healthcare sector are factors supporting market growth. Besides, availability of advanced treatment options and favorable reimbursement scenario is also supporting the growth of the market.

Europe is the second largest market for osteoarthritis. Increasing incidence rate of arthritis, well-developed healthcare sector, and availability of funds for R&D are factors projected to augment the growth of the market. The Europe osteoarthritis market has been segmented into Western Europe and Eastern Europe. Western Europe, led by the UK, Germany and France, accounts for the foremost share of the market while Eastern Europe is expanding at a relatively faster rate. The untapped markets of Eastern Europe hold huge growth potential.

APAC is poised to showcase the fastest growth over the forecast period. Presence of a broad base of patients suffering from arthritis coupled with surging healthcare expenditure in the emerging economies of the region such as China, India, and others presents scope for market expansion. In addition, favorable government policies and increasing awareness is also fostering the growth of the market.

The MEA market accounts for the minimum share of the Global Osteoarthritis Market. Poor economic conditions and low healthcare expenditure in the African region is hampering the growth of the MEA market. However, the market is showcasing significant progress in the developed economies of the region such as Kuwait, Dubai, Qatar, and Saudi Arabia where healthcare expenditure is considerably high.

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Pharmacogenomics Market Expected To Boost During 2020 To 2023

 Global Pharmacogenomics Industry research report offers granulated yet in-depth analysis of revenue share, market segments, revenue estimates and various regions across the globe.

Pharmacogenomics Market Analysis

Pharmacogenomics is a relatively new field of study which is a combination of genomics and pharmacology. It studies how based on genes, a person reacts to drugs which aid in the development of more effective and safe medications. With Pharmacogenomics, drug doses can be tailored to a person’s genetic makeup and can be useful in the treatment of a wide range of health problems. The global pharmacogenomics market is likely to strike a CAGR of 5.8% over the forecast period of 2017-2023, predicts Market Research Future (MRFR) in an extensive study.

Also Read : https://www.marketwatch.com/press-release/pharmacogenomics-market-2020-covid-19-impact-analysis-industry-size-share-growth-swot-analysis-demand-overview-top-company-profile-key-regions-forecast-to-2023-2020-08-25?tesla=y 

Chronic diseases are spreading at an alarming rate which has consequently boosted the demand for precision and personalized medicine. Pharmacogenomics has been widely recognized as a fundamental step in personalized medicine and growing demand for personalized medicine is propelling the growth of the global pharmacogenomics market.

The high rate of adverse drug reaction incidence has been linked to variations in genes which affect the efficacy and toxicity of drugs. This has evoked extensive R&D activities to find out the underlying causes for individual variable reaction to drugs. Pharmacogenomics can improve drug therapy and is increasingly being applied to drug discovery and development. Pharmaceutical companies are progressively making using of pharmacogenomics for drug safety improvisation to increase the success rate in pharmaceutical R&D activities. The governments in multiple countries are also encouraging pharmacogenomics to accelerate personalized care and are outlaying massive amounts on the same which is bolstering the growth of the global pharmacogenomics market.

On the other hand, the global pharmacogenomics market growth can be impeded by high costs associated with pharmacogenomics testing, the dearth of trained professionals to perform such tests and lack of proper laboratory infrastructure. Lack of standardization in procedures is also a possible bottleneck to the growth of the market.

Pharmacogenomics Market Segmentation

The global pharmacogenomics market has been segmented based on technology, application, and end user.

By technology, the global pharmacogenomics market has been segmented into microarray, sequencing, polymerase chain reaction, and others. The sequencing segment has been further segmented into Sanger sequencing, pyrosequencing, next-generation sequencing, and others.

By application, the global pharmacogenomics market has been segmented into oncology, cardiology, neurological disorders, and others. The oncology segment has been further segmented into breast cancer, lung cancer, and others.

By end user, the global pharmacogenomics market has been segmented into hospitals, research organizations, academic institute, and others.

Pharmacogenomics Market Regional Analysis

By region, the global pharmacogenomics market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA). The Americas dominate the global pharmacogenomics market and is likely to exhibit substantial growth over the forecast period. A robust healthcare sector, increasing number of patients suffering from cardiovascular diseases, and rising healthcare expenditure ease up the growth of the market. Presence of developed economies such as the US and Canada also augur well for the growth of the market.

Europe follows the Americas closely and is driven by the availability of funds for R&D along with government support for the same. Additionally, the presence of a massive patient population and developed economies such as Germany and France within the region fuels the growth of the market.

APAC is poised to be the fastest growing market for pharmacogenomics. Expanding pharmaceutical sector and outlay of substantial amount on R&D activities are factors supporting market growth. Presence of a vast patient base presents opportunities for the growth of the market.

MEA market accounts for the least share of the global pharmacogenomics market owing to poor economic conditions, low healthcare spending, and stringent government policies. The majority share of the MEA market is held by the Middle East where well-developed healthcare sector and huge healthcare expenditure supports the growth of the market.

Pharmacogenomics Market Competitive Landscape

Assurex Health, Inc. (U.S.), GeneTech (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), GeneDx. (U.S.), Future Science Group (U.S.), Pathway Genomics (U.S.), OneOme (U.S.), 23andMe, Inc. (U.S.), and Myriad Genetics, Inc. (U.S.) are the key players in the global pharmacogenomics market.

Pharmacogenomics Industry Updates

February 2019- The University of Arizona College of Medicine – Phoenix and Banner Health announced collaboration to work on a technology that aids in the prevention of life-threatening adverse drug reactions. A sum of USD 1.5 Mn is being invested in incorporating pharmacogenomics and into clinician training and medical practice.

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Smart Contact Lenses Market 2020 - Opportunity, Driving Trends And Deep Study 2023

 The exclusive research report on the Global Smart Contact Lenses Market 2020 examines the market in detail along with focusing on significant market dynamics for the key players operating in the market.

Latest Report on “Smart Contact Lenses Market size | Industry Segment by  By Application (Continuous Glucose Monitoring, Intraocular Pressure Monitoring), By End User Type (Hospitals, Clinics And Home Care Settings), Regional Outlook, Market Demand, Latest Trends, Smart Contact Lenses Industry Share & Revenue by Manufacturers, Company Profiles, Growth Forecasts – 2023.” Analyzes current market size and upcoming 5 years growth of this industry.

Smart Contact Lenses Market Overview 

Smart contact lenses are thin lenses that people wear to improve the vision, to see clearly and for aesthetic purposes also. There has been a rise in the use of smart devices for the past few years. The introduction of smartwatches and smart lenses are mostly used for fitness and diabetes monitoring. The smart contact lens is used for measuring the glucose level in the tears and consists of a wireless chip and a glucose sensor.

Also Read : https://www.medgadget.com/2020/04/smart-contact-lenses-market-research-report-2020-technology-development-key-players-and-competitor-analysis-and-share-analysis.html

A tiny hole is present in the lens through which the tears seep into the sensor and there is a wireless antenna inside the contact lens that acts as a controller for transmitting information to the wireless device. It uses RFID wireless technology for drawing power from these devices. The need of using the spectacles is eliminated, with the use of contact lenses. The rise in technological advancements in the smart contact lenses with the innovation in various sectors to minimize the need for spectacles is increasing the need for smart contact lenses.

The global smart contact lenses market report presents the growth of the contact lenses market due to the increase in the daibetes patients, the changing trends in the eye wear fashion, replacement of smart glasses by smart lenses and the demand for wearable medical devices for monitoring the health of the patients. The global smart contact lenses market is anticipated to reach USD 7.2 billion in the year 2023, that was USD 4.5 billion in 2016, with a growing CAGR of approximately 10.4% during the forecast period of 2017-2023.

Smart Contact Lenses Market segmentation

There has been a huge rise in the demand for the smart contact lenses among the customers. The key market players are helping in the growth of the product market by innovating product development. The market can be segmented on the basis of applications and end users. Based on the product applications, the global smart contact lenses market can be classified into:

• Intraocular pressure monitoring
• Continuous glucose monitoring
• Cholesterol detection
• Sodium detection
• Alcohol detection
• Others

And based on the end users, the global market can be divided into:

• Clinics
• Hospitals
• Home care settings

Smart Contact Lenses Market Regional analysis 

There has been a widespread rise in the market for smart contact lenses. America has been the largest market for the past few years, owing to the increase in the number of diabetic populations, demand for eye care solutions and latest trends in the cosmetics industry. According to the American Diabetic Association, almost 30.3 million Americans are suffering from diabetes. Europe is the second largest regional market with an increased expenditure on the research in smart medical devices. A report published by the WHO in 2015 stated that over 60 million people have been suffering from diabetes in the European region.

Smart Contact Lenses Industry news

Samsung will be introducing an eco-friendly recyclable cardboard packaging towards improving the sustianalbitly across its Lifestyle TV product portfolio to reduce the impact on the environment. This packaging will be made from eco-friendly cardboard that will allow the customers to recycle easily as well as for upcycling of the cardboard boxes for creative reuse.

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In-Vitro Diagnostics (IVD) Market 2020–By Identifying The Key Market Segments And Key Players Holding Market Share

 The exclusive research report on the Global In-Vitro Diagnostics (IVD) Market 2020 examines the market in detail along with focusing on significant market dynamics for the key players operating in the market.

The Global  In-Vitro Diagnostics (IVD)  Market Report Delivers A Comprehensive And Systematic Framework Of The Market At A Global Level That Includes All The Key Aspects Related To It. The Data Is Collected From Different Sources Allied To The Global In-Vitro Diagnostics (IVD)   And The Research Team Meticulously Analyze The Gathered Data With The Help Of Various Analytical Tools And Present Their Opinion Based On Analysis And Calculations by MRFR

Also Read : https://www.medgadget.com/2019/08/in-vitro-diagnostics-ivd-market-key-reasons-for-the-present-growth-demand-and-upcoming-business-opportunity-with-detailed-foreseen-to-2023.html 

As Per The Latest Report Published By Market Research Future (MRFR) The Global Market For In-Vitro Diagnostics Will Record A CAGR Of 8.16% Between 2018 And 2023. The Market Is Expected To Surpass A Valuation Of USD 102,500 Mn By The End Of The Assessment Period.

In-vitro diagnostics (IVD) combines the application of reagents, medical devices and accessories for performing complex test procedures on biological specimens such as tissue, blood and urine taken from human body. In-vitro diagnostics is increasingly used for diagnosis of medical conditions and detection of infection. IVD has emerged as an important medical technology for overcoming challenges faced in diagnosis and management of diseases. Such factors are supporting the growth of the global IVD market.

IVD is more precise than conventional test procedures and thereby gaining a quick popularity. In fact, many of the modern test procedures cannot be carried out without using IVD technology. Medical diagnostic device manufacturers are likely to capitalized on the market opportunity that has emerged. Demand for IVD services has grown substantially in recent years, which is attributable to the rising number of private diagnostics centers.

Moreover, advances in diagnostics technology coupled with the expanding global geriatric population, which is necessitating faster and more accurate diagnosis is likely to provide an impetus to the in-vitro diagnostics market in the forthcoming years. Other factors such as increased occurrence of chronic diseases and acceptance of molecular diagnostics in personalized medicines have also raised the importance of IVD.

Growth In-Vitro Diagnostics Market: Competitive Landscape

MRFR in its report has profiled some of prominent market players, which include Abbott Laboratories, Bio-Rad Laboratories Inc, Becton Dickinson and Company, Grifols S.A, Sysmex Corporation, Siemens AG, BioMérieux S.A, Ortho Clinical Diagnostics, Thermo Fisher Scientific, F. Hoffmann-La Roche AG, DiaSorin S.p.A, Danaher Corporation and Qiagen N.V

Global In-Vitro Diagnostics Market: Segmental Analysis

MRFR’s report includes a through segmental analysis of the global in-vitro diagnostics market based on product & services, technology, application and end-user. Based on product & services, the market has been segmented into reagents & kits, instruments, and data management software. In 2017, the reagents and kits segment accounted for the largest market share. The segment is expected retain its top position over 2023, exhibiting a CAGR of 9.34%.  By technology, the market has been segmented into immunoassay/ immunochemistry, clinical chemistry, molecular diagnostics, microbiology and hematology. The clinical chemistry segment currently commands for more than one-third share of the market.

This is primarily owing to the rapid integration of advanced technologies in clinical diagnostics. Meanwhile, the molecular diagnostics segment is projected to capture the highest during the assessment period. By application, the market has been segment into infectious diseases, and non-infectious diseases. In 2017, the infectious diseases segment accounted for over 60% of the market share. High prevalence of infectious disease is the primary driver of the segment’s growth. By end user, the market has been segmented into hospitals, laboratories and academic institutes. The hospitals segment holds the most dominant position – a majority of test are performed in hospitals. Hospitals continue to witness high patient influx despite the growing number of diagnostics centers.

Global In-Vitro Diagnostics Market: Regional Analysis

The in-vitro diagnostics market has been covered across North America, Europe, South America, the Middle East & Africa (MEA) and Asia Pacific (APAC). North America and South America collectively accounted for close to 40% share of the market in 2017. North America, in particular, is expected to remain highly lucrative market for in-vitro diagnostics. Easier accessibility along with high healthcare expenditure has a positive impact on the region’s market. The market in Asia-Pacific is likely to increase at a relatively higher CAGR over 2023.

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