Global IVD market growth

ivd market graph
What is an IVD?

According to regulations, “IVD – In Vitro Diagnostics products are those reagents, instruments and systems intended for use in diagnosis of disease or other conditions, including a determination of the state of health, in order to cure, mitigate, treat, or prevent disease or its sequelae. Such products are intended for use in the collection, preparation, and examination of specimens taken from the human body.”

Usually, doctors rely on blood results drawn from analysis of other blood fluids to make treatment decisions. For this reason, IVD are fundamental for early diagnosis of diseases and they play as protagonist in the healthcare sector.


How will the IVD market change?

Today, the latter is fast growing, pushed by several drivers such as aging population, diffusion of infectious diseases in developing countries or also cancers. There is also an increasing number of private diagnostic centers and a rising acceptance of molecular diagnostics in personalized medicine.

So, the global IVD market is expected to grow at a CAGR (Compounded Average Growth Rate) of 6.5% during 2017-2023. This wide market includes in itself both in vitro product manufacturers, laboratories, distributors, hospital, institutions or research institutes.


ivd market graph


Moreover, according to the technique used, the market is segmented into immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics, clinical chemistry and many others. Gesan Production is included in different categories thanks to its wide range of products; Gesan can also be really competitive on the market in terms of quantity and, above all, quality of its in vitro diagnostics products.

Gesan is leader in clinical chemistry and immunodiagnostics market and can play an important role together with the major key players in the world. Even if America is actually leading global market, Europe represents the second largest market share – followed by Asia Pacific region –  thanks to different relevant companies. In the case, the “Made in Italy” quality, known all over the world, is the main characteristics of Gesan products and represents its signature all over the world. Those who know Gesan’s reagents and analyzers more closely have to appreciate its precision and reliability.


Source: Market Research Future