According to a new report published by Allied Market Research, titled, LAMEA IVD Market by Product Type, Techniques, Application, and End Users: Opportunity Analysis and Industry Forecast, 2017-2023, the LAMEA IVD market was valued at $7,413 million in 2016, and is projected to reach at $10,316 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. The immunodiagnostics segment accounted for more than two-ninths share of the total market in 2016.
In vitro diagnostics (IVD) are medical devices and reagents used for examination of the body samples such as blood, tissue, and body fluids to detect diseases, disorders, and infections and identify suitable medical treatment. Rise in incidences of chronic and infectious diseases, constant technological developments to improve efficacy of IVD and increase in government healthcare expenditure in LAMEA region drive the market growth. However, stringent government regulations related to the safety and efficacy of the IVD and unfavorable reimbursement policies are expected to restrain the market growth during the forecast period. Ongoing R&D associated with the IVD and increased disposable income of consumers provides huge growth potential for IVD market.
To Remain ‘Ahead’ Of Your Competitors, Request For A Sample at: https://www.alliedmarketresearch.com/request-sample/4137
COVID-19 scenario analysis:
1) The COVID-19 impact on the LAMEA IVD Market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
Inquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/request-for-customization/4137?reqfor=covid
Based on product type, the reagents segment held the highest market share in 2016, owing to the recent introduction of new novel reagents in the market that are more effective.
Based on technique, the immunodiagnostics segment contributed the highest market share in 2016, owing to the increase in prevalence of chronic and infectious diseases and rise in awareness of personalized medicine among the population.
Based on application, the infectious diseases segment contributed the highest market share in 2016, owing to the increase in prevalence of infectious diseases such as HIV, tuberculosis, and others.
Key Findings of the LAMEA IVD Market:
The reagents segment dominated the market in 2016, and is projected to grow at the 3.7?GR.
The immunodiagnostics segment accounted for the highest share (one-eighth) in 2016.
The infectious diseases segment was the major shareholder in the LAMEA IVD based application market in 2016.
The standalone laboratory segment accounted for the highest share (two-ninths) in 2016.
Latin America was the major shareholder of Asia Pacific IVD market in 2016.
Africa is expected to grow at the highest CAGR in the LAMEA IVD market.
List of Key Players Profiled in the Report:
Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson among others.
To Get Discount, Make Purchase Inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/4137