As of 2017, the Global In-Vitro Diagnostics market value was 64,390 million US$ and it is expected to reach 1,02,555 million US$ in 2023 with the CAGR of 8.16% from 2018 to 2023. In-Vitro diagnostics are medical devices that are used to conduct different medical tests on the fluid or body samples such as tissue, blood, and Urine. The devices help in detection of diseases so that the condition could be diagnosed.
There are various factors contributing to the increased demand for In-Vitro Diagnostics such as aging population, unhealthy lifestyle, the increase in the private diagnostic center, etc. Cardiac diseases are the largest cause of death and the increased amount of these diseases is increasing the demand for In-Vitro Diagnostics.
The market of In-Vitro diagnostics is divided based on the type, service, and use of devices. The market is also divided based on the technology and the end users of these devices. The report also segments the use of In-Vitro diagnostics based on the region. North America had the highest market share 39.4% which is followed by Europe. The Asia Pacific is expected to see the highest market growth.
The report shows a detailed analysis of the market thus providing the detailed structure of the industry. In-Vitro Diagnostics is used in Educational, Research, and industrial facilities. The report gives a complete analysis of the facilities using In-Vitro Diagnostics devices while taking all of its types in consideration.