Asia Pacific In Vitro Diagnostics Market Grow at 5.4% CAGR up to 2027

Pune, Maharashtra, India, February 12 2021 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “The Asia-Pacific IVD Market accounted for $13,680 million in 2019, and is estimated to reach at $19,888 million by 2027, growing at a CAGR of 5.4% from 2019 to 2027. The immunodiagnostics segment accounted for more than two-ninths share of the total market in 2019.

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Increasing government initiatives, growing R&D activities for advanced diagnostics techniques, improving healthcare infrastructure, and rising per capita healthcare expenditure largely drive the Asia Pacific IVD market growth. On the other hand, lack of harmonization in regulatory guidelines coupled with inadequate reimbursement policies and technological barriers are hindering the market growth. However, the wide scope of application in various biological and medical diagnostics industries to create lucrative opportunities in the near future.

In 2015, the immune system disorder and infectious diseases application segments together held a dominant share, of around 50% of the Asia-Pacific IVD market. This is attributed to the growing incidence and prevalence of infectious diseases namely, HIV/AIDS and Hepatitis; and immune systems disorders namely, diabetes, and immune deficiency. The Stand-alone laboratories and hospital end user segments dominated the market in 2015 owing to frequent and primary use of in vitro diagnostic techniques for the detection of several diseases and disorders.

Based on techniques, the immunodiagnostics segment contributed the highest market share in 2016, owing to the increase in prevalence of communicable and non-communicable diseases and rise in awareness of personalized medicine among the population.

In 2015, the immune system disorder and infectious diseases application segments together held a dominant share, of around 50% of the Asia-Pacific IVD market. This is attributed to the growing incidence and prevalence of infectious diseases namely, HIV/AIDS and Hepatitis; and immune systems disorders namely, diabetes, and immune deficiency. The Stand-alone laboratories and hospital end user segments dominated the market in 2015 owing to frequent and primary use of in vitro diagnostic techniques for the detection of several diseases and disorders.

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Key findings of the study: 

Infectious diseases segment is expected to maintain its foothold in the Asia-Pacific IVD market.Cancer is projected to be the fastest growing application segment during the forecast period.

In 2015, infectious diseases and immune system disorders collectively accounted for about half of the Asia-Pacific IVD indication market.

Asia-Pacific IVD Instruments market is projected to witness the highest CAGR of 7.1% during the forecast period.

India is forecasted to be the fastest growing market, growing at a CAGR of 7.1% from 2016 to 2022.In 2015, China and Japan collectively accounted for around two-third of the Asia Pacific IVD market revenue.

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The leading companies profiled in this report are, F. Hoffmann-La Roche AGR, Abbott Laboratories, Danaher Corporation, Johnson & Johnson, Sysmex Corporation, Becton Dickinson and Company, bioMrieux, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Siemens AG, and Alere Inc, Vela Diagnostics, Affymetrix, Alere Inc., Bio-Rad Laboratories, Arkray Inc., Sysmex Corporation, and Trans Asia BioMedicals Ltd.

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About Us: 

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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