DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/b27963/global_in_vitro) has announced the addition of the "Global In Vitro Diagnostics Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global In Vitro Diagnostics market to grow at a CAGR of 6.55 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing demand for biomarker-based tests worldwide. The Global In Vitro Diagnostics market has also been witnessing increased adoption of DNA probe-based diagnostics. However, challenges in the POC segment could pose a challenge to the growth of this market.
Key vendors dominating this market space include Abbott Laboratories, bioMerieux SA, Beckman Coulter Inc., Becton Dickinson and Company, Hoffmann-La Roche Ltd., and Siemens Healthcare.
Commenting on the report, an analyst from TechNavio's Healthcare team said: ''The Global In Vitro Diagnostics (IVD) market has been experiencing a significant increase in acquisitions by the global vendors since the recession. Most of the IVD vendors are acquiring small and medium companies to stay ahead of the competition. These acquisitions by the leading vendors will enable them to develop a variety of offerings for the Global IVD market, which will boost their revenue during the forecast period.''
According to the report, many reputed global IVD products manufacturers are focusing on countries such as Brazil, Russia, India, and China (BRIC) to establish their bases in these countries. The Global IVD market is expected to experience high growth, especially in BRIC. A significant number of government initiatives are being implemented to build a healthcare infrastructure. Moreover, the economic growth in these countries is leading to changes in lifestyle, which is resulting in an increase in chronic diseases in their population. Further, patient awareness about diagnosis of diseases and preventative approaches to healthcare are also becoming the major growth drivers for the IVD market in these emerging countries.
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Source: Research and Markets