In vitro diagnostic tests are used for in vitro examination of specimens derived from the human body, to provide information for screening, diagnosis, or treatment monitoring purposes. The rising prevalence of chronic diseases in Italy has been the primary driver for the growth of this market.
This rising prevalence has increased the demand for early and effective diagnostic tests. The use of point-of-care (POC) diagnostics has also increased over the past few decades. Moreover, increasing awareness and acceptance of personalized medicine and companion diagnostics have helped the market growth.
However, reimbursement policies and stringent regulatory guidelines are some of the restraining factors in the market studied.
Key Market Trends
Application in Cancer Diagnostics is Expected to Exhibit a Positive Growth Rate over the Forecast Period
- Cancer biomarkers are indicative of the presence of cancer in the body. A biomarker may be a molecule secreted by a tumor or a specific response of the body in presence of cancer. Genetic, epigenetic, proteomic, glycomic, and imaging biomarkers can be used for cancer diagnosis, prognosis, and epidemiology. Such biomarkers are assayed, using in vitro diagnostic tests in non-invasively collected biofluids, like blood or serum.
- As per the data by the International Agency for Research on Cancer, the reported cases of cancer have increased drastically among both men and women. As per 2018 data and estimates, the number of cancer cases reported is expected to rise, from 409,808 in 2018 to 466,066 by 2030. As cancer incidence is further expected to rise in the future, the demand for in vitro diagnostics for early diagnosis is expected to rise.
Competitive Landscape
BioMérieux, Danaher Corporation, Roche Diagnostics, Becton, Dickinson and Company, and Bio-Rad Laboratories Inc. are some of the major players in the market. The major companies are focusing on increasing technological advancements, in order to address customer needs, like fully automated systems, which reduce manual processes and consumables, and also provide fast and accurate results.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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