North America IVD Market Size and Growth Analysis:
North America in
Vitro Diagnostics (IVD) market was estimated at the USD 23,881.76 million in
2018 and it is expected to reach the USD 33,029.10 million by 2025 at a
compound annual rate of 4.79% over the 2018-2025 forecast period.
North America is
the largest IVD market globally and is also the biggest consumer market. The
San Francisco Bay Area may be often regarded as a natural home to
well-established IVD device leaders accountable for spearheading industry
improvements including Bio-Rad, Roche and Thermo Fisher and many other
encouraging start-ups breaking into the market. Currently, it has approximately
30.0% share of the global market and would exceed the share by 2020.
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IVD market in
North America is in extension stage due to increase in incidences of infectious
disorders such as tuberculosis, HIV, Rabies, AIDS, malaria, Ebola virus, and
pertussis. A rise in the incidences of infectious diseases predominantly drives
the IVD market.
Specialty testing,
which is often more valuable than routine tests, cover tests in genetics,
endocrinology, immunology, oncology, and other segments. The clinical
laboratory market is extremely competitive with hundreds of providers. North
America has the appearance of some of the important global players in the world
that are headquartered in the USA.
North America in Vitro Diagnostics (IVD) Market Growth
Analysis
The North America
IVD market is on expansion due to growth in the geriatric population as the
number in the volume of chronic and infectious disorders increases. From 2000
and 2050, the number of older people is anticipated to increase by 135%. In
addition, the population aged 85 and above is projected to increase by 350%.
Creating healthcare knowledge among the masses as well as the adoption of
advance in vitro techniques for disease diagnosis is another important
opportunity for the growth of the market in North America. The market is hit by
the taxes implied on the IVD devices, as it adds up the marked cost.
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Geographical presence:
By geography, the
North America IVD market is examined across the U.S., Canada, and Mexico. The
US estimated for the highest market share in 2016, supported by Canada. Mexico
is expected to witness the largest growth rate during the forecast period.
Main companies operating in
this market adopt
product launch as their important development strategy. Companies profiled in
this market include Alere Inc., Biomerieux, Thermo Fisher Scientific Inc.,
Danaher Corporation, Becton Dickinson and Company, F. Hoffmann-La Roche AG,
Bio-Rad Laboratories, Sysmex Corporation, Bayer AG, Johnson & Johnson, and
others.
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