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(Medical-NewsWire.com, July 13, 2017 ) The report "BRIC IVD Market by Product & Service (Instruments, Reagents, Software), Technology (Immunoassay, Hematology, Microbiology), Application (Diabetes, Cardiology, Infectious Diseases), Country (Brazil, Russia, India, China) - Forecast to 2022", The BRIC IVD Market and other emerging countries is expected to reach USD 15.71 Billion by 2022 from USD 10.60 Billion in 2017, at a CAGR of 8.2%.
Browse 138 market data tables and 69 figures spread through 278 pages and in-depth TOC on "BRIC IVD Market “
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The rising incidence of chronic diseases, growth in the number of private diagnostic centers, and rising consolidation of laboratories are the key factors driving the market growth. However, inadequate reimbursement and the slow growth of the economy are the factors restraining the growth of this market.
This research study involved the extensive use of both primary and secondary data sources as well as various factors affecting the industry, including the regulatory landscape; competitive scenario; historic data; current trends in the market; technological innovations and upcoming technologies; and market drivers, restraints, opportunities, and challenges.
In this report, the BRIC In Vitro Diagnostics (IVD) Market is segmented by product & service, technology, application, end user, and country. Based on application, the market is segmented into diabetes, infectious diseases, oncology/cancer, cardiology, HIV/AIDS, autoimmune diseases, nephrology, drug testing/pharmacogenomics, and others. The infectious diseases segment accounted for the largest share of the market in 2016, owing to the rising incidence of tuberculosis (TB), hepatitis, and hospital-acquired infections.
Based on technology, the BRIC IVD Market is broadly segmented into immunoassays/immunochemistry, clinical chemistry, molecular diagnostics, hematology, clinical microbiology, coagulation & hemostasis, and other technologies. The molecular diagnostics segment is estimated to register the highest CAGR during the forecast period of 2017 to 2022. The rising prevalence of infectious diseases, cancer, and various genetic disorders; growing demand for blood screening; and increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing is expected to drive the growth of the market during the forecast period.
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Geographically, China dominated the BRIC IVD Market and other emerging countries in 2016. The large share of this country can be attributed to rising healthcare expenditure, increasing acceptance of personalized medicine, and increasing awareness towards technologically advanced products in this country. China is also expected to register the highest CAGR, due to the growth in research activities and increasing investments by leading players and government agencies in the country.
The key players in this BRIC IVD Market are Roche Diagnostics (Switzerland), Abbott Laboratories Inc. (U.S.), Siemens Healthineers (Germany), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Sysmex Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux (France), and Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), QIAGEN N.V. (Germany), Ortho-Clinical Diagnostics, Inc. (U.S.), and Diasorin S.P.A. (Italy).
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