(PharmaNewsWire.Com, February 26, 2018 ) In-Vitro diagnostics are designed to check a sample of tissue or body fluids for microorganism cultures or blood sugar. They're conjointly used for testing changes within the liver, the imbalance in atomic levels which are required within the body and electrolytes within the blood akin to Sodium, urea, potassium, and Creatinine. The top users of In-Vitro nosology market are typically Laboratories, Hospitals, educational establishments, Point-of-care testing centers.
The Latin America In-vitro diagnostics market is estimated to have a value of USD 12.48 billion in 2016. With a CAGR of 5.1%, the market size is expected to grow rapidly to cross USD 16.01 billion by 2022. Increased number of patients with the chronic diseases is the main reason that is boosting the market size in the past few years.
In the past few years, IVD technologies were used solely in clinical labs. Initially, a bioassay was undertaken in laboratories but in the recent days one will test by putting up samples on test sticks. These tests are correct, less long, and may be simply performed. Similarly, the blood sugar levels testing will be done victimization purpose of care testing devices comparable to a glucometer. Similarly, the HIV test can even be conducted employing a mouth swab that's built-in within the diagnosing device provides ends up in 20-40 minutes.
Previously, these tests were used in clinical laboratories, where the blood samples of the individual were taken. As there are numerous advancements in the typical technologies of IVD, there is an increase in demand for IVD in the market.
Latin America is showing consistent growth in the past few years and is anticipated to continue the same in the forecast period.
The major market contributors for the In-vitro diagnostics market are Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostics, Beckman Coulter Inc., Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation and Thermo Fisher Scientific, Inc.
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