The Asia Pacific In-Vitro diagnostics Market has been estimated at USD 13.31 billion in 2020 and is poised to reach 18.15 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 6.4%. Increasing population especially elderly people across the Asia Pacific region is a key driving factor for the market to grow.
In the Asia Pacific, there is a quiet increment in the scale of a number of diagnostics centres and hospitals which is straightly propelling the demand of the in-vitro diagnostics market. In-vitro diagnostics are very popular in giving accurate results in very little time where this is attracting many of the consumers. This attribute is expanding the size of the market to the extent. In addition, rising incidences of cancer and diabetes among many individuals is fuelling the growth rate of the market.
Increasing research on the development of new products with the latest technologies is creating chances for the market to grow. Rise in the investments from both public and private organizations to improve services in diagnostics centres is likely to outshine the demand of the market. Besides, growing demand for early diagnosis in most of the countries is levelling up the growth rate of the Asia Pacific in-vitro diagnostics market. Diagnosis of a disease is prior to having a proper and efficient treatment procedure and this greatly influencing the demand of the market eventually. Furthermore, escalating expenditure on healthcare in developed and developing countries is ascribed to bolster the growth rate of the market in this region.
However, the cost of installation and maintenance of some equipment in laboratories is a bit expensive which is declining the growth rate of the market. Fluctuations in the prices of various raw materials required to manufacture the devices are also restraining the demand of the Asia Pacific in-vitro diagnostics market. Government authorities are very strict in approving new IVD products in concern towards people’s safety is remained as a challenging thing for the market developers. Lack of professionals in monitoring the systems is hampering the growth rate of the market in the Asia Pacific.
This research report segmented and sub-segmented into the following categories:
On the basis of geography, In India, awareness about health, demand for good healthcare, and willingness to spend on healthcare are major factors for the market to grow. Rising incidences of chronic diseases are propelling the demand of the market. Continually developing the clinical research market are some of the key factors to drive market growth.
In vitro diagnostic market size is growing at a faster rate in China. Rise in chronic diseases like heart disease, cancer and diabetes, especially among elderly people. All these diseases can be monitored with the use of in-vitro diagnostic products and willingness to pay for advanced technology.
In Japan, the market is growing rapidly in the past few years. Raising demand from educated patients or people for detailed information about health is greatly influencing the demand of the market in Japan.
In Australia, increasing chronic incidences and infectious diseases, elevation in geriatric population and advancing diagnostic technology are accelerating the growth rate of the market. Age-related disorders like arthritis and dementia are also one of the factors for market growth.
In South Korea, the market shares are projected to have inclined growth opportunities in coming years due to increasing awareness over the point of care diagnostic systems.
Noteworthy companies operating in the APAC IVD Market are Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostic, Beckman Coulter Inc., Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation and Thermo Fisher Scientific, Inc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Product
5.1.1 Instruments
5.1.2 Reagents and Kits
5.1.3 Software
5.2 By Technology
5.2.1 Clinical Chemistry
5.2.2 Hematology
5.2.3 Immunoassays
5.2.4 Coagulation and Hemostasis
5.2.5 Molecular Diagnostics
5.2.6 Microbiology
5.2.7 Other IVD technologies
5.3 By Application
5.3.1 Diabetes
5.3.2 Infectious Diseases
5.3.3 Oncology/Cancer
5.3.4 Cardiology
5.3.5 Nephrology
5.3.6 Autoimmune Diseases
5.3.7 Drug Testing
5.3.8 HIV
6.3 Asia-Pacific
6.1 Introduction
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Abbott Laboratories
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Johnson and Johnson
8.3 Siemens Healthcare
8.4 Becton Dickinson
8.5 Roche Diagnostics
8.6 Beckman Coulter Inc.
8.7 Biomérieux
8.8 Ortho Clinical Diagnostics, Inc.
8.9 Bio-Rad Laboratories, Inc.
8.10 Danaher Corporation
8.11 Sysmex Corporation
8.12 Thermo Fisher Scientific, Inc.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
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