U.S. In Vitro Diagnostics Market Growing at a CAGR of 4.3% During Forecast Period 2020-2025

January 8, 2021
Blessy

U.S. In Vitro Diagnostics Market size in 2019 is estimated to be $21.3 billion, growing at a CAGR of 4.3% during the forecast period 2020-2025. In vitro diagnostics helps to detect diseases or other conditions that can be used to monitor a person’s overall health to treat diseases. In vitro diagnostics also used for drug testing and can be used for the purpose of identifying the use of drugs. Increasing Incidence of chronic disease and technological advancement are the major factors driving the growth of the market. Moreover, growing geriatric population and rise in the number of medical procedures further enhance the market demand for U.S. In vitro diagnostics during the forecast period 2020-2025. U.S. In vitro diagnostics market growth is mainly owing to increasing prevalence of diseases, advanced instruments and technologies and increasing healthcare expenditure. According to the Center for Disease Control and Prevention, it is estimated that about 47,352 people are diagnosed with HIV infection in the U.S. and about 1 million people are diagnosed with AIDS, so the demand of in-vitro diagnostics is increasing in the U.S.

Key Takeaways

  • Increasing incidence of chronic diseases and technological advancement is driving the market growth of U.S. In vitro diagnostics.
  • Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the U.S. In vitro diagnostics market report.
  • The high cost of equipment and lack of skilled professionals in operating the devices are challenging the growth of the market.

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Application – Segment Analysis

Based on the Application, U.S. In Vitro Diagnostics Market is segmented into Oncology, Infectious Diseases, Diabetes, Cardiology, Nephrology, Autoimmune Diseases, and Drug Testing.  In 2019, infectious diseases held the largest share in the U.S. In vitro diagnostics market. This is mainly owing to increasing incidence of infectious disease such as pneumonia, tuberculosis, AIDS and HIV which is also contributing to the growth of this segment.

Drivers – U.S. In Vitro Diagnostics Market 

  • Increasing Incidence of Chronic Diseases
  • Technological Advancements

U.S. In Vitro Diagnostics Industry Outlook

U.S. In Vitro Diagnostics top 10 companies are Roche, Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific, Johnson & Johnson, Bio-Rad Laboratories, Dickinson and Company, Roche Diagnostics, Siemens Healthineers, bioMérieux, and Sysmex Corporation.

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