NEW YORK, Nov. 29, 2021 /PRNewswire/ -- The "In-vitro Diagnostics Market - Competitive Analysis, Drivers, Challenges, and  Five Force Analysis" report has been added to Technavio's offering. The In-vitro diagnostics market is set to grow by USD 35.77 billion, progressing at a CAGR of 7.95% from 2020 to 2025.

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35% of the market's growth will originate from North America. US, Mexico, and Canada are the key markets for in-vitro diagnostics in the region.  The high demand for personalized medicine will facilitate the in-vitro diagnostics market growth in North America. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

Market Dynamics

Factors such as the increasing geriatric population and chronic, and infectious diseases will be crucial in driving the growth of the market. However, the stringent regulatory bodies guiding in-vitro diagnostics manufacturers will restrict the market growth.  The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.

Company Profiles

The in-vitro diagnostics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The in-vitro diagnostics market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, Danaher Corp., DiaSorin SpA, F. Hoffmann La Roche Ltd., Ortho Clinical Diagnostics Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc.

Few Companies with Key Offerings

• Abbott Laboratories -  The company offers analyzers namely Alinity h series, CELL DYN Sapphire, CELL DYN Ruby, CELL DYN Ruby, and others for in vitro diagnostics.
•  Danaher Corp. - The company offers in vitro diagnostics for drug monitoring and prostate cancer detection.
• DiaSorin SpA - The company offers in vitro diagnostics for infectious diseases, bone and mineral, hypertension, and serum proteins.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

• By Technology, the market is classified into immunochemistry, molecular diagnostics, tissue diagnostics, hematology, and others. The in-vitro diagnostics market share growth by the immunochemistry segment has been significant
• By Geography, the market is classified as North America, Europe, Asia, and ROW. North America will have the largest share of the market.

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