In-Vitro Diagnostics Market To Reach USD 87.11 Billion By 2026; Increasing Prevalence of Cancer Will Enable Growth

Introduction of newtechniques for disease diagnosis is a key factor driving the globalin-vitro diagnostics market, states FortuneBusiness Insights in a report, titled “In-vitroDiagnostics Market Size, Share & Industry Analysis, By Product Type(Instruments, Reagents & Consumables), By Technique (Immunodiagnostics,Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology andOthers), By Application (Infectious Diseases, Cardiology, Oncology,Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals,Physicians Offices, Others) and Regional Forecast, 2019-2026.” According tothe report, the global in-vitro diagnostics market was valued at USD 61.22Billion in 2018 is predicted to reach USD 87.11 Billion by 2026, exhibiting aCAGR of 4.5% during the forecast period.

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Increasing Prevalenceof Chronic and Infectious Disease Will Enable Growth

The launch of diagnostic and rapid testing tools by leadingmarket players will propel growth of the global in-vitro diagnostics market.For instance, Thermo Fisher Scientific launched Phadia 200 for diagnosis ofallergy & autoimmune conditions. The launch of Phadia 200 is anticipated toincrease the revenue of the company. According to the report, the reagents andconsumables segment will account for a major portion in the global in-vitrodiagnostics market during the forecast period owing to the adoption of self-test and point-of-care devices. Furthermore, the instrument segment is likelyto grow at a moderately slower pace during the forecast period. Risingtechnological advancement is predicted to aid growth of the segment. Moreover,the increasing cases of cancer and infectious disease around the world willfurther accelerate global in-vitro diagnostics market growth.

Launch of AltostarMolecular Diagnostics Workflow Will Boost Growth

Altona Diagnostics GmbH, molecular diagnostic testingsolutions company launched a CE-IVD marked AltoStar Molecular DiagnosticsWorkflow. AltoStar Molecular Diagnostics a flexible and efficient automaticsystem that automates the entire workflow from sample preparation uptoanalysis. Fortune Business Insights states the launch of CE-IVD marked AltoStarMolecular Diagnostics Workflow is expected to boost the in-vitro diagnosticsmarket revenue. Furthermore, the oncology segment is likely to grow at aconsiderable rate during the forecast period. Rising adoption and availabilityof advanced home care kits such as fecal occult blood test (FOBT) for diagnosisof colon cancer in homecare settings is one of the major factor likely to fuel demandfor the oncology segment, which, will, in turn, uplift the global in-vitrodiagnostics market shares.

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