Global Clinical Diagnostic Devices Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Clinical diagnostic devices which help the doctors to treat the patients accurately and diagnose the disease. The demand for clinical diagnostic devices is increasing as they help to ease the tasks of the doctors, help to reduce the time spent , efforts made to measure basic vital signs, and among others are the factors encouraging the market growth in near future. Furthermore, Clinical diagnostics are helping to understand chronic disease conditions, disease prevention, detection, and management by making physicians to make correct clinical decision .For instance, checking of daily routine checks in case diabetic patients, the detection of early warning signs and individual risk factors are some of the major factors positively influencing the market growth. The global clinical diagnostic devices market valued USD 922.1 million in 2020 and it is expected to reach USD 1780.3 million by 2030 with the CAGR of 6.8% during the forecast period.
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Market Dynamics and Factors:
Major factors responsible in driving the market are growing rate of chronic diseases such as heart failure, diabetes, and colon cancer, growing demand for personalized medicine expanding geriatric population base and increasing patient awareness towards disease diagnosis. In addition to this, the ability of point of care diagnostic tests to obtain immediate results, improved patient care, rising market penetration of PACS (picture archiving and communication systems), and EMR (electronic medical records) are triggering the clinical diagnostic devices market growth. Moreover, rising prevalence of various diseases, cancer, autoimmune diseases, and inflammatory diseases, is expected to drive the demand for IVD testing. For instance, according to National Institute of Health (NIH), in 2017, approximately 23.5 Million cases of autoimmune diseases were reported in America and this number is expected to increase over the forecast period. Moreover, Introduction of advanced technologies, such as biochips and nano-biotechnology, and miniaturization of micro fluidics are emerging potential opportunities witnessing the market growth. However, lack of awareness of these devices in various regions with low technology penetration, is anticipated to affect clinical diagnostic devices market growth in upcoming years. The major challenges faced by the market are security & maintenance of data and cost effectiveness.
Market Segmentation :
Global Clinical Diagnostic Devices Market – By Product
Stethoscopes
Sphygmomanometers
Opthalmoscopes
Electrocardiographs
Thermometers
Others
Global Clinical Diagnostic Devices Market – By Application
Oncology
Cardiology
Gastrology
Neurology
Orthopedics
Infectious Diseases,
Others
Global Clinical Diagnostic Devices Market – By Devices
Diagnostic Imaging
In Vitro Diagnostic
Patient Monitoring
Others
Global Clinical Diagnostic Devices Market – By End-Users
Hospital
Clinics
Others
Global Clinical Diagnostic Devices Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Geographically, the clinical diagnostic devices market is segmented into North America, Europe, Asia Pacific, and RoW. North America is estimated to dominate the market due to increased healthcare awareness, supportive technology development and infrastructure. Developing infrastructure development and economic growth in China, Japan, and India are setting up new standards for clinical diagnostic devices market growth in Asia Pacific.
Competitive Scenario:
Some of the key players of are clinical diagnostic devices market are Siemens Healthcare, Sonic Healthcare Ltd, Charles River Laboratories, Quest Diagnostics Inc., Bioscientia Healthcare, Bio-Reference Laboratories, ARUP Laboratories, Genzyme Corporation, Abbott Laboratories, Laboratory Corporation of America Holdings (Labcorp), Labco S.A., Healthscope Limited., Qiagen, Genoptix Medical Laboratory, and Clarient Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Clinical Diagnostic Devices industry, although key threats, opportunities and disruptive technologies that could shape the Global Clinical Diagnostic Devices Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Clinical Diagnostic Devices Market most.
The data analysis present in the Global Clinical Diagnostic Devices Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Clinical Diagnostic Devices Market business.
The 2021 Annual Global Clinical Diagnostic Devices Market offers:
100+ charts exploring and analysing the Global Clinical Diagnostic Devices Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Clinical Diagnostic Devices Market type
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