Asia Pacific In-vitro Diagnostics Market to Grow at a CAGR of 5.2% During the Period 2024-2032, Driven by Need for Effective and Efficient Detection Technologies

Asia Pacific in-vitro diagnostics market is expected to be driven by the need to be prepared for health pandemics, spread of chronic diseases, ageing demographic, rising income levels, technological advancements, and increasing demand for quality medical care. In-vitro diagnostics (IVD) refer to tests carried out on samples such as blood or tissue those taken from the human body. In vitro diagnostics can detect diseases, infections, or other conditions, and may be used to monitor a person’s overall health to help treat, cure, or prevent illnesses.

In the Indian in-vitro diagnostics industry, many positive trends are being witnessed. Producers of IVD devices have kept pace with rising demand for testing volumes with innovative diagnostic solutions driving industry growth. Advanced diagnostic technologies like molecular and Nex-Gen Sequencing are experiencing fast-paced growth. Leading companies are investing in research for the development of new technologies for infectious diseases such as TB, HIV, Hepatitis, etc. Point-of-care testing (POCT) is becoming increasingly popular in resource-limited settings. Producers are expanding their product portfolio to include POCT solutions for conditions including diabetes, pregnancy tests, testing for infections like Transfusion transmitted infections (TTIs), malaria, dengue, COVID-19, and others. Such developments are likely to boost the Asia Pacific in-vitro diagnostics market. Increasing efficiency of after-sales services in Tier II, III and IV cities of India has also been a key factor behind market growth.

Automation is playing a vital role in market expansion. As demand for tests increases, labs seek new ways to handle the great workload. Solution providers are engaged in developing solutions capable of meeting rising demand for quality, speed, affordability and precision. Labs today are more inclined to switch from semi to fully automated equipment. Further, integration of automated systems with Internet of things (IoT) is aiding producers in offering the advantage of 24x7 remote access, predictive maintenance and inventory management. Artificial intelligence (AI) based diagnostic devices are improving lab workflow efficiency by enabling a shorter turnaround time (TAT) and testing of more samples. These factors are expected to drive the Asia Pacific in-vitro diagnostics market.

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Leading companies are engaged in developing solutions enabling efficient and accurate detection of illnesses. Key players in the domain include Sysmex Corporation, Medical & Biological Laboratories Co., Ltd., Voxtur Bio Ltd., Immulab, FUJIFILM Corporation, and Others.

Key Findings of the Report:

• The Asia Pacific in-vitro diagnostics market is expected to be driven by the need for effective and efficient detection technologies.

• Advanced solutions are expected to boost market growth.

• Advancements in technology are expected to stimulate market growth.

Market Analysis by Product and Service, Technology, Application, End Use, and Country:

• By product and service, the market is segmented into Reagents and Kits, Instruments, and Software and Services.

• By technology, the market is classified into Immunoassay/Immunochemistry, Clinical Chemistry, Molecular Diagnostics, Haematology, Microbiology, Blood Glucose Self-Monitoring, Coagulation and Haemostasis, Urinalysis, and Others.

• By application, the market is divided into Infectious Diseases, Diabetes, Cardiology, Oncology, Autoimmune Diseases, Nephrology, and Others.

• By end use, the market is segmented into Hospitals, Laboratories, Homecare, and Others.

• By country, the market is classified into China, Japan, India, ASEAN, Australia, and Others.

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