According to a new report published by apacmarket.com, titled, “In-vitro Diagnostics (IVD) Asia-Pacific Market Research Report, 2014-2020”, the Asia Pacific In vitro Diagnostics Market is expected to register a CAGR of 6.5% from 2015 to 2020. Point of Care/Self-testing technique would continue to dominate the market, representing about 1/4Th of the overall Asia Pacific IVD market. 

In vitro diagnostics are tests performed to identify a particular condition in a subject, practiced in a controlled artificial environment. The wide scope of application in various biological and medical diagnostics industries lends a competitive edge to the IVD devices market. Also, factors such as, the increase in clinical research activities, government initiatives towards advanced diagnostics, constantly improving healthcare infrastructure and rising per capita healthcare expenditure largely drive the Asia Pacific IVD market growth. Furthermore, increasing patient awareness and the growing demand of technologically advanced IVD devices would further boost the market growth. However, lack of harmonization in regulatory guidelines coupled with inadequate reimbursement policies would restrain the market growth. 

The growing trend of near patient care services and the increasing usage of diagnostic tools in clinical chemistry and molecular biology would largely drive the market growth during the forecast period. These factors have intensified the competition for conceptualizing innovative techniques, among manufacturers. Furthermore, due to the modernization in point of care IVD devices, it is experiencing a shift in application from curative medicine to personalized, preemptive and predictive medicine.

Get more details at: http://www.apacmarket.com/top-market/apac-in-vitro-diagnostics-market

Key findings of the study:

• Instrument segment held the largest revenue share in 2014
• Hospital & laboratory is the largest end user market in 2014
• Cancer/Oncology application market would emerge as most lucrative application segment over the forecast period
• Disposable IVD devices governed about 67% market share in the Asia Pacific IVD usability market in 2014
• India IVD market would exhibit a CAGR of 9.5% during the forecast period, highest among all regions

China and Japan, collectively accounted for about 50% share in the Asia-Pacific IVD market, in 2014, largely supplemented by heavy R&D investments by companies and the large adoption rates of innovative IVD devices. Australia and South Korea would emerge as lucrative markets, generating about 1/3rd of the overall market revenue. 

Product launch is a key strategy adopted by most of the manufacturers, owing to the dynamic nature of the market, in terms of technology advancement. The leading companies profiled in this report are, Danaher Corporation, Vela Diagnostics, Siemens AG, Affymetrix, Alere Inc., BioMerieux, Roche Diagnostics, Bio-Rad Laboratories, Becton, Dickinson And Company, Abbott Laboratories Inc., Arkray Inc., Sysmex Corporation, Johnson & Johnson, Siemens Healthcare and Trans Asia BioMedicals Ltd.

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