North America In Vitro Diagnostics Market Forecast up to 2025

DG-023
Pages: 116
March 2019
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Infoholic Research
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North America In-Vitro Diagnostics (IVD) Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025

[116 pages report] This market research report includes a detailed segmentation of North America in-vitro diagnostics market-By Technology Types (Clinical Chemistry, Molecular Diagnostics, Immunoassay, Clinical Microbiology, Coagulation, Hematology, and Others), By Applications (Oncology, Infectious Disease, Diabetes, Cardiology, Nephrology, Autoimmune Disease, and Others), By End-users (Hospitals, Laboratories, Home Care, Academic & Research Institutes, and Others), and By Country (US and Others).

Overview of North America In Vitro Diagnostics Market Research

Infoholic's market research report predicts that North America In Vitro Diagnostics market will grow at a CAGR of 5.17% during the forecast period 2019-2025. The market has witnessed steady growth in the past few years, and the advancements in technology with the introduction of innovative products have increased the adoption of in-vitro diagnostics products in the market. The market is fueled by the increasing incidence of lifestyle and chronic diseases, rising adoption of point-of-care testing (POCT), the upsurge in the biomarker-based tests, and the growing significance of companion diagnostics.

The market continues to grow, and in-vitro diagnostics is one of the most widely used techniques for screening, diagnosis, treatment, and monitoring purposes. The field is getting revolutionized with the advancement in technology. Vendors are focusing on new product launches, approvals, and targeting end-users perspective. The market generates revenue from the key players operating in this field, and few of them include Abbott Laboratories, F. Hoffmann-La Roche, Thermo Fisher Scientific, Danaher Corporation, and Sysmex Corporation.

According to Infoholic Research analysis, the US accounted for the largest share of North America in-vitro diagnostics market in 2018 and others segment is expected to grow a high CAGR during the forecast period. According to the estimation of the National Cancer Institute, in the US, around 1.6 million new cases of cancer were diagnosed, and 595,690 people have died due to cancer in 2016. In 2016, Canada had an estimated 202,400 new cases of cancer and nearly 78,000 deaths according to the Canadian Cancer Society. Lifestyle-related diseases such as diabetes and heart diseases are becoming a major threat to the population across the world with 425 million people suffering from diabetes. Cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the US and on an average, one person dies from CVD every 40 seconds in the US. Favorable reimbursement policies, the presence of dominant market vendors in the country, increased awareness among patients, availability of government funds, and increasing adoption of molecular diagnostics make the US a dominant shareholder in the market.

By Technology Types:

Clinical Chemistry

Molecular Diagnostics

Immunoassay

Clinical Microbiology

Coagulation

Hematology

Others

In 2018, the clinical chemistry segment occupied the largest share, and molecular diagnostics segment is expected to grow at a high CAGR during the forecast period. Clinical chemistry includes metabolic panel, electrolyte panel, liver panel, lipid profile, renal profile, thyroid function panel, and specialty chemistry tests. Increased technological advancements such as next-generation sequencing & polymerase chain reaction and the growing number of strategic deals are likely to propel the molecular diagnostics segment during the forecast period.

By Applications:

Oncology

Infectious Disease

Diabetes

Cardiology

Nephrology

Autoimmune Disease

Others

The infectious disease segment occupied a major market share in 2018, and the oncology segment is predicted to hold a significant share during the forecast period. Increase in the prevalence of the disease such as tuberculosis & pneumonia and growing healthcare awareness among the population make the segment a dominant shareholder.

By End-users:

Hospitals

Laboratories

Home Care

Academic & Research Institutes

Others

Hospitals occupied a significant market share in 2018, and hospitals and laboratory segments are expected to dominate the market for the next few years.

By Country:

Others

The US occupied a significant market share in 2018, and the others segment is expected to grow at a high CAGR during the forecast period. The increased technological advancement and higher GDP of the nation make others, that includes Canada and Mexico, the fastest-growing segment during the forecast period.

In-Vitro Diagnostics Market Research Competitive Analysis-The in vitro diagnostics market has massive growth opportunities in the North American region. The advancements of technology will increase competition among vendors. The diagnostics and biotechnology continuously focus on the market due to an increase in lifestyle and chronic diseases. This has resulted in approvals and collaborations related to in-vitro diagnosis in recent years. For instance, Roche launched VENTANA pan-TRK (EPR17341) Assay to detect tropomyosin receptor kinase (TRK) to diagnose multiple solid tumor types at the end of 2018. FDA has approved F1CDx test to identify genetic alterations in tumors in December 2017. The genomic test can identify cancer-related alterations in 324 genes in any type of solid tumor. FDA approved Ortho Clinical Diagnostics VITROS Immunodiagnostic Products HIV Combo Reagent Pack and Calibrator for use on the VITROS 5600 Integrated System in 2018. This 4th generation test can detect both HIV-1 and HIV-2 antibodies as well as the p24 antigen, which provides a shorter diagnostic window compared to 3rd generation assays. In late 2018, Precision for Medicine acquired ApoCell, a next-generation lab specializing in the identification and analysis of biomarkers. In addition, other leading players are focusing on hugely investing in R&D activities to develop new products to attain the maximum share in the market.

Key Vendors:

Abbott Laboratories

F. Hoffmann-La Roche (Roche)

Thermo Fisher Scientific Inc.

Danaher Corporation

Sysmex Corporation

bioMerieux S.A.

Becton Dickinson and Company

Bio-Rad Laboratories

Qiagen N.V.

Siemens Healthineers

Ortho Clinical Diagnostics (Carlyle Group)

Key Competitive Facts

The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.

The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.

Benefits-The report provides complete details about the usage and adoption rate of in vitro diagnostic products. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player's initiatives, and government initiatives towards the tests in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.

Key Takeaways:

Understanding the potential market opportunity with precise market size and forecast data.

A detailed market analysis focusing on the growth of the in the Vitro diagnostics industry.

Factors influencing the growth of the in the Vitro diagnostics market.

In-depth competitive analysis of dominant and pure-play vendors.

Key insights related to major segments of the in the Vitro diagnostics market.

Latest market trend analysis impacting the buying behavior of the consumers.

Key Stakeholders

Scope

Table of Contents

1 Industry Outlook 9

1.1 Industry Overview 9

1.2 Total Addressable Market 10

1.3 Industry Trends 10

2 Report Outline 12

2.1 Report Scope 12

2.2 Report Summary 12

2.3 Research Methodology 13

2.4 Report Assumptions 13

3 Market Snapshot 15

3.1 Market Definition-Infoholic Research 15

3.2 Advantages of IVD 15

3.3 Importance of IVD 15

3.4 Segmented Addressable Market 16

3.5 Trends in the North America In Vitro Diagnostics Market 16

3.6 Related Market 17

3.6.1 Medical Imaging 17

4 Market Outlook 19

4.1 Market Segmentation 19

4.2 PEST Analysis 19

4.3 Porter 5(Five) Forces 21

5 Market Characteristics 22

5.1 DRO-Market Dynamics 22

5.1.1 Drivers 23

5.1.1.1 Increasing incidence of lifestyle and chronic diseases 23

5.1.1.2 High adoption of POC testing 23

5.1.1.3 Growing demand for biomarker-based tests 24

5.1.2 Opportunities 24

5.1.2.1 Growing significance of companion diagnostics 24

5.1.2.2 Increasing number of strategic deals 24

5.1.3 Restraints 25

5.1.3.1 Stringent regulatory approval process 25

5.1.3.2 High cost of the test and unclear reimbursement policies 25

5.2 DRO-Impact Analysis 26

5.3 Key Stakeholders 26

6 Technology Types: Market Size and Analysis 28

6.1 Overview 28

6.2 Clinical Chemistry 29

6.3 Molecular Diagnostics 30

6.4 Immunoassay 32

6.5 Clinical Microbiology 33

6.6 Coagulation 34

6.7 Hematology 35

6.8 Others 36

7 Applications: Market Size and Analysis 37

7.1 Overview 37

7.2 Oncology 38

7.3 Infectious Disease 39

7.4 Diabetes 41

7.5 Cardiology 42

7.6 Nephrology 43

7.7 Autoimmune Disease 44

7.8 Others 45

8 End-users: Market Size and Analysis 47

8.1 Overview 47

8.2 Hospitals 47

8.3 Laboratories 48

8.4 Home Care 48

8.5 Academic and Research Institutes 49

8.6 Others 49

9 Country: Market Size and Analysis 50

9.1 Overview 50

9.2 US 51

9.3 Others 53

10 Competitive Landscape 55

10.1 Overview 55

11 Vendors Profile 57

11.1 F. Hoffmann-La Roche Ltd. 57

11.1.1 Overview 57

11.1.2 Business Units 63

11.1.3 Geographic Revenue 64

11.1.4 Business Focus 65

11.1.5 SWOT Analysis 65

11.1.6 Business Strategies 66

11.2 Thermo Fisher Scientific Inc. 67

11.2.1 Overview 67

11.2.2 Business Units 71

11.2.3 Geographic Revenue 72

11.2.4 Business Focus 73

11.2.5 SWOT Analysis 74

11.2.6 Business Strategies 74

11.3 Abbott Laboratories 75

11.3.1 Overview 75

11.3.2 Business Units 79

11.3.3 Geographic Revenue 81

11.3.4 Business Focus 81

11.3.5 SWOT Analysis 82

11.3.6 Business Strategies 82

11.4 Danaher Corporation 83

11.4.1 Overview 83

11.4.2 Business Units 87

11.4.3 Geographic Revenue 88

11.4.4 Business Focus 89

11.4.5 SWOT Analysis 90

11.4.6 Business Strategies 90

11.5 Sysmex Corporation 91

11.5.1 Overview 91

11.5.2 Business Units 93

11.5.3 Geographic Revenue 95

11.5.4 Business Focus 95

11.5.5 SWOT Analysis 96

11.5.6 Business Strategies 96

12 Companies to Watch For 98

12.1 bioMerieux S.A. 98

12.1.1 Overview 98

12.2 Beckton Dickinson and Company 100

12.2.1 Overview 100

12.3 Bio-Rad Laboratories 102

12.3.1 Overview 102

12.4 Qiagen N.V. 104

12.4.1 Overview 104

12.5 Siemens Healthineers 109

12.5.1 Overview 109

12.6 Ortho Clinical Diagnostics (Carlyle Group) 112

12.6.1 Overview 112

13 Annexure 115

13.1 Abbreviations 115

List Of Figure

Charts

CHART 1 RESEARCH METHODOLOGY OF NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 13

CHART 2 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET REVENUE, 2018-2025 (USD BILLION) 16

CHART 3 SEGMENTATION OF NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 19

CHART 4 PEST ANALYSIS OF NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 19

CHART 5 PORTER 5 FORCES ON NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 20

CHART 6 MARKET DYNAMICS-DRO ANALYSIS 22

CHART 7 DRO-IMPACT ANALYSIS OF NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 25

CHART 8 KEY STAKEHOLDERS 26

CHART 9 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY TECHNOLOGY TYPES, 2018 (%) 28

CHART 10 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY TECHNOLOGY TYPES, 2025 (%) 28

CHART 11 CLINICAL CHEMISTRY MARKET FORECAST, 2018-2025 (USD BILLION) 30

CHART 12 MOLECULAR DIAGNOSTICS MARKET FORECAST, 2018-2025 (USD BILLION) 31

CHART 13 IMMUNOASSAY MARKET FORECAST, 2018-2025 (USD BILLION) 32

CHART 14 CLINICAL MICROBIOLOGY MARKET FORECAST, 2018-2025 (USD BILLION) 33

CHART 15 COAGULATION MARKET FORECAST, 2018-2025 (USD BILLION) 34

CHART 16 HEMATOLOGY MARKET FORECAST, 2018-2025 (USD BILLION) 35

CHART 17 OTHER IVD TECHNOLOGIES MARKET FORECAST, 2018-2025 (USD BILLION) 36

CHART 18 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY APPLICATION SEGMENTATION,

2018 (%) 37

CHART 19 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY APPLICATION SEGMENTATION,

2025 (%) 37

CHART 20 ONCOLOGY MARKET FORECAST, 2018-2025 (USD BILLION) 39

CHART 21 INFECTIOUS DISEASE MARKET FORECAST, 2018-2025 (USD BILLION) 40

CHART 22 DIABETES MARKET FORECAST, 2018-2025 (USD BILLION) 41

CHART 23 CARDIOLOGY MARKET FORECAST, 2018-2025 (USD BILLION) 42

CHART 24 NEPHROLOGY MARKET FORECAST, 2018-2025 (USD BILLION) 43

CHART 25 AUTOIMMUNE DISEASE MARKET FORECAST, 2018-2025 (USD BILLION) 44

CHART 26 OTHER APPLICATIONS MARKET FORECAST, 2018-2025 (USD BILLION) 45

CHART 27 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY END-USERS SEGMENTATION,

2018 (%) 46

CHART 28 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY GEOGRAPHICAL SEGMENTATION,

2018 (%) 49

CHART 29 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET SHARE BY GEOGRAPHICAL SEGMENTATION,

2025 (%) 49

CHART 30 IN VITRO DIAGNOSTICS MARKET REVENUE IN THE US, 2018-2025 (USD BILLION) 52

CHART 31 IN VITRO DIAGNOSTICS MARKET REVENUE IN OTHERS, 2018-2025 (USD BILLION) 53

CHART 32 F. HOFFMANN-LA ROCHE LTD.: OVERVIEW SNAPSHOT 64

CHART 33 F. HOFFMANN-LA ROCHE LTD.: BUSINESS UNITS 64

CHART 34 F. HOFFMANN-LA ROCHE LTD.: GEOGRAPHIC REVENUE 65

CHART 35 F. HOFFMANN-LA ROCHE LTD.: SWOT ANALYSIS 66

CHART 36 THERMO FISHER SCIENTIFIC INC.: OVERVIEW SNAPSHOT 72

CHART 37 THERMO FISHER SCIENTIFIC INC.: BUSINESS UNITS 73

CHART 38 THERMO FISHER SCIENTIFIC INC.: GEOGRAPHIC REVENUE 74

CHART 39 THERMO FISHER SCIENTIFIC INC.: SWOT ANALYSIS 75

CHART 40 ABBOTT LABORATORIES: OVERVIEW SNAPSHOT 82

CHART 41 ABBOTT LABORATORIES: BUSINESS UNITS 83

CHART 42 ABBOTT LABORATORIES: GEOGRAPHIC REVENUE 84

CHART 43 ABBOTT LABORATORIES: SWOT ANALYSIS 85

CHART 44 DANAHER CORPORATION: OVERVIEW SNAPSHOT 90

CHART 45 DANAHER CORPORATION: BUSINESS UNITS 91

CHART 46 DANAHER CORPORATION: GEOGRAPHIC REVENUE 91

CHART 47 DANAHER CORPORATION: SWOT ANALYSIS 93

CHART 48 SYSMEX CORPORATION: OVERVIEW SNAPSHOT 96

CHART 49 SYSMEX CORPORATION: BUSINESS UNITS 96

CHART 50 SYSMEX CORPORATION: GEOGRAPHIC REVENUE 97

CHART 51 SYSMEX CORPORATION: SWOT ANALYSIS 98

List Of Table

Tables

TABLE 1 NORTH AMERICA IN VITRO DIAGNOSTICS MARKET REVENUE BY COUNTRIES,

2018-2025 (USD BILLION) 50

TABLE 2 OTHER PROMINENT VENDORS IN THE NORTH AMERICA IN VITRO DIAGNOSTICS MARKET 55

TABLE 3 F. HOFFMANN-LA ROCHE LTD.: PRODUCT OFFERINGS 57

TABLE 4 F. HOFFMANN-LA ROCHE LTD.: RECENT DEVELOPMENTS 62

TABLE 5 THERMO FISHER SCIENTIFIC INC.: PRODUCT OFFERINGS 68

TABLE 6 THERMO FISHER SCIENTIFIC INC.: RECENT DEVELOPMENTS 70

TABLE 7 ABBOTT LABORATORIES: PRODUCT OFFERINGS 77

TABLE 8 ABBOTT LABORATORIES: RECENT DEVELOPMENTS 78

TABLE 9 DANAHER CORPORATION: OFFERINGS 86

TABLE 10 DANAHER CORPORATION: RECENT DEVELOPMENTS 88

TABLE 11 SYSMEX CORPORATION: PRODUCT OFFERINGS 94

TABLE 12 SYSMEX CORPORATION: RECENT DEVELOPMENTS 95

TABLE 13 BIOMERIEUX S.A.: SNAPSHOT 100

TABLE 14 BIOMERIEUX S.A.: RECENT DEVELOPMENTS 101

TABLE 15 BECTON DICKINSON AND COMPANY: SNAPSHOT 102

TABLE 16 BECTON DICKINSON AND COMPANY: RECENT DEVELOPMENTS 103

TABLE 17 BIO-RAD LABORATORIES: SNAPSHOT 105

TABLE 18 BIO-RAD LABORATORIES: RECENT DEVELOPMENTS 106

TABLE 19 QIAGEN N.V.: SNAPSHOT 107

TABLE 20 QIAGEN N.V.: RECENT DEVELOPMENTS 107

TABLE 21 SIEMENS HEALTHINEERS: SNAPSHOT 113

TABLE 22 SIEMENS HEALTHINEERS: RECENT DEVELOPMENTS 113

TABLE 23 ORTHO CLINICAL DIAGNOSTICS (CARLYLE GROUP): SNAPSHOT 116

TABLE 24 ORTHO CLINICAL DIAGNOSTICS (CARLYLE GROUP): RECENT DEVELOPMENTS 116

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Products and Companies

Companies

Abbott Laboratories

Hoffmann-La Roche (Roche)