Kenneth Research has evaluated the current market opportunities in Phenolic Resin Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Market Products.
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The statistics portray the rising prevalence of chronic diseases across the globe which in turn, is driving the need amongst the healthcare service providers to develop advanced diagnostic devices that can pre-diagnose these chronic diseases. Moreover, with the surge in prevalence of different types of infectious diseases around the world, such as HIV, AIDS, tuberculosis, and pneumonia among others, the healthcare organizations are increasing working on the research and development of IVDs, which is also projected to boost the market growth.
The global in-vitro diagnostics (IVD) market is anticipated to grow with a CAGR of 4.6% over the forecast period, i.e., 2022 – 2031. The market is estimated to garner a revenue of USD 135167.7 Million by the end of 2031, Additionally, in the year 2021, the market generated a revenue of USD 87236.4 Million. The market is segmented by product into reagents, instruments, and services. The reagents segment, out of all the other segments, is projected to garner the largest revenue of USD 112156.4 Million by the end of 2031. Moreover, the segment garnered a revenue of USD 71786.2 Million in the year 2021.
By region, the global in-vitro diagnostics (IVD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is projected to garner the largest revenue of USD 57175.9 Million by the end of 2031. Moreover, the market generated a revenue of USD 36988.2 Million in the year 2021.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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However, the operational barriers faced during conduction of diagnostic tests, along with dynamic regulatory landscape are predicted to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global in-vitro diagnostics (IVD) market, which includes company profiling of Abbott, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd., Eisai Co., Ltd., Kyowa Kirin Co., Ltd., Sysmex Corporation, Qiagen GmbH, bioMerieux SA, Danaher Corporation, Bio Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Exact Sciences Corporation, Becton, Dickinson and Company, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “In-Vitro Diagnostics (IVD) Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global in-vitro diagnostics (IVD) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global in-vitro diagnostics (IVD) market in the near future.
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