The new report by Expert Market Research titled, ‘Asia Pacific In-Vitro Diagnostics Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Asia Pacific in-vitro diagnostics market, assessing the market based on its segments like products and services, technology, applications, end-uses, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Asia Pacific In-Vitro Diagnostics Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.2%
Rising income and living standards in developing nations are anticipated to encourage a new, health-conscious populace looking for high-quality medical care, thus driving market growth. The Asia Pacific in-vitro diagnostics market is projected to be driven by improvements in healthcare quality and expanding healthcare infrastructure in nations like India.
The prevalence of various chronic diseases has significantly increased in Asia Pacific countries over the past decade. Point-of-care testing is becoming increasingly popular because of the huge growth in the public health risk posed by these diseases.
The need for IVD devices has increased in Asia Pacific countries, including India, Japan, and China, as a result of ageing populations, rising incidence of lifestyle diseases, and expansion in the healthcare industries. Additionally, opening independent diagnostics chains, academic institutions, and standalone centres has a positive impact on the market.
Asia Pacific In-Vitro Diagnostics Industry Definition and Major Segments
Early warning indications and specific risk factors can be found using in-vitro diagnostics, offering up new opportunities for prevention and early intervention. With the use of some in-vitro diagnostics, people with chronic illnesses are able to self-monitor and manage their own symptoms outside of the constraints of the lab, hospital, or doctor’s office.
By product and service, the Asia Pacific in-vitro diagnostics market is segmented into:
• Reagents and Kits
• Instruments
• Software and Services
Based on technology, the market is classified into:
• Immunoassay/Immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Haematology
• Microbiology
• Blood Glucose Self-Monitoring
• Coagulation and Haemostasis
• Urinalysis
• Others
The major applications of the market are:
• Infectious Diseases
• Diabetes
• Cardiology
• Oncology
• Autoimmune Diseases
• Nephrology
• Others
By end-use, the market is segmented into:
• Hospitals
• Laboratories
• Homecare
• Others
On the basis of country, the market is classified into:
• China
• Japan
• India
• ASEAN
• Australia
• Others
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Asia Pacific In-Vitro Diagnostics Market Trends
In the Asia -Pacific region, there is a growing middle class, an economy that is stabilising, a growing urban population, and supportive governments. It is indicating a significant change in the private healthcare industry, which is a major factor supporting the market.
The number of public-private partnership (PPP) prospects in Asia Pacific nations has sharply increased in recent years. This element is anticipated to fuel the continuing smart hospital projects and fuel market expansion. The demand for personalised medications is driving rapid growth in the pharmaceutical and diagnostic sectors.
The growing investment in developing nations is creating new opportunities for this market, along with a new range of condition-specific markers, sophisticated genomes, and proteomics-based assays. Such factors are propelling the growth of the Asia Pacific in-vitro diagnostics market.
Key Market Players
The major players in the market are:
- Sysmex Corporation
- Medical & Biological Laboratories Co., Ltd.
- Voxtur Bio Ltd.
- Immulab
- FUJIFILM Corporation
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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