Global Diagnostic Tests Market 2020-2027 Market Research Report| Know The Growth Factors and Future Scope

Diagnostic tests market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.0% in the forecast period of 2020 to 2027 and is expected to reach USD 286,081.12 million by 2027. Increase in prevalence of chronic disease, rising number of IVD test across the globe, adequate reimbursement policies, improving diagnosis seeking rate across the globe & extending reach of molecular diagnostics are the major drivers which propelled the demand of the market in the forecast period.

Global Diagnostic Tests Market Scenario                                

According to Data Bridge Market Research, the market for diagnostic tests in North America region has the highest market share in global diagnostic tests market. Market leader is F. Hoffmann-La Roche Ltd. which accounts an estimated market share of approximately 20% to 25%. The company has gained outstanding sale through providing diagnostic tests products and accessories.

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For Instance,

  • In May 2020, F. Hoffmann-La Roche Ltd officially announced the acquisition of Stratos Genomics. This acquisition lead to the development of DNA based sequencing for diagnostics use. This enhanced the healthcare diagnosis segment of the company, thus leading to more revenue generation of the company.
  • In March 2020, F. Hoffmann-La Roche Ltd got FDA approval for Elecsys GALAD. This approval enhanced the product segment of the company and helped in early diagnosis of carcinoma. This approval also enhanced the financials of the company.

Trends Impacting the Market

Now the question is which other regions F. Hoffmann-La Roche Ltd. ABBOTT is targeting? Data Bridge Market Research has estimated a large growth in Asia-Pacific diagnostic tests market and the market leaders targeting China, Japan and India to be their next revenue pockets for 2020.

The diagnostic tests market is becoming more competitive with companies such as F. Hoffmann-La Roche Ltd. ABBOTT as they are the top dominating companies in diagnostic tests having maximum number of products. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the global diagnostic tests market.

Global Diagnostic Tests Market Developments

  • In April 2020, Leica Microsystems, a subsidiary of Danaher announced the launch of flagship platform for its new confocal microscopy which is known as STELLARIS. This platform allows to view the three dimensional view of the tissues and living cells.
  • In March 2020, Siemens Healthcare GmbH officially announced the launch of RAPIDPoint 500e Blood Gas Analyzer; this expanded the product portfolio of the company and is also used in COVID-19 efforts. This is helping in generating more revenue from the line.

Major Players

Some of the major players operating in this diagnostic tests market are H-Hoffman La-Rcohe Ltd., ABBOTT, Danaher, BD, Thermo Fisher Scientific Inc., ACON Laboratories Inc., Hemosure, Inc., MicroGen Diagnostics, QIAGEN, Grifols, S.A, BODITECH MED INC., Chembio Diagnostic Systems, Inc., Nanoentek, DiaSorin S.p.A., Bio-Rad Laboratories, Inc., BIOMEDOMICS INC,  EKF Diagnostics Holdings plc, Siemens Healthcare GmbH, PerkinElmer Inc., Werfenlife , bioMérieux SA, ARKRAY USA, Inc., Biohit Oyj, Germaine Laboratories, Inc., Quidel Corporation,HUMASIS., Illumina, Inc. Lamdagen Corporation, LifeSign LLC., Medixbiochemica, , Nova Biomedical, Ortho Clinical Diagnostics, Sannuo Biosensing Co., Ltd. STRECK, Sysmex Corporation  among others.

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Scope of the Global Diagnostic Tests Market

Global diagnostic tests market is segmented on the basis of countries into U.S., Canada & Mexico, Germany, France, U.K., Hungary, Lithuania, Austria, Ireland, Norway, Poland, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland & Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam & Rest of Asia-Pacific, South Africa, Saudi Arabia, UAE, Egypt, Kuwait, Israel & rest of Middle East & Africa.

  • All country based analysis of global diagnostic tests market is further analyzed based on further segmentation. On the basis of type is segmented into glucose test, infectious diseases test, cytology test, CBC test, blood culture test, syphilis test, urea test, C-reactive protein test, antigen test, HBA1C test, pregnancy test, lipid profile test, electrolytes test, liver function test, stool helicobacter pylori test, calcium test, crossmatch test, thyroid function test, stool microscopy test, urine microscopy test, unit packed RBCs test, ESR test and others test. On the basis of solution, the diagnostics tests market is segmented into services and products. On the basis of technology, the diagnostic tests market is segmented into immunoassay-based, PCR-based, next gene sequencing, spectroscopy-based, chromatography-based, microfluidics, substrate technology and others. On the basis of mode of testing, the diagnostic tests market is segmented into prescription-based testing and OTC testing. On the basis of approach, the diagnostic tests market is segmented into molecular diagnostic instrument, in-vitro diagnostic instrument and point of care testing instrument. On the basis of sample type, the diagnostic tests market is segmented into urine, saliva, blood, hair, sweat and others. On the basis of application, the diagnostic tests market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, odontology and others. On the basis of testing type, the diagnostic tests market is segmented into biochemistry, hematology, microbiology, histopathology and others. On the basis of age, the diagnostic tests market is segmented into pediatric, adult and geriatric. On the basis of end user, the diagnostic tests market is segmented into hospitals, diagnostic center, research labs & institutes, research institute, homecare, blood banks, specialty clinics, ambulatory surgical centers and others. On the basis of distribution channel, the diagnostic tests market is segmented into direct tenders, retail sales and online sales.

Key Pointers Covered in Global Diagnostic Tests Market Industry Trends and Forecast to 2027

  • Market Size
  • Top to Bottom Market Analysis
  • Recent Developments for Market Competitors
  • Recent Market Value for Different Countries

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