South East Asia IVD Market Size & Share | Growth Forecasts
Added: (Fri Apr 05 2024)
Pressbox (Press Release) -
Meticulous Research®—a leading market research company, published a research report titled ‘South East Asia IVD Market by Offering (Kits, Software), Technology (Immunoassay, Molecular Diagnostics, Rapid Tests, Biochemistry), Application (Infectious Diseases, Oncology, Diabetes), Diagnostic Approach (Lab, POC) - Forecast to 2030.
According to this latest publication from Meticulous Research®, the South East Asia IVD market is expected to grow at a CAGR of 7% from 2023 to reach $4.11 billion by 2030. The growth of this market is driven by the high prevalence of infectious diseases and high risk of emerging infections, high burden of chronic diseases, and growing focus on strengthening the healthcare industry in the region. Additionally, growing awareness regarding early disease diagnosis and growing medical tourism in the region are expected to create growth opportunities for the stakeholders in this market. However, the large import of tests and instruments and limited local manufacturing facilities restrain the growth of this market. Poor healthcare access in remote populations is a major challenge to market growth.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/south-east-asia-ivd-market-5613
South East Asia IVD Market: Future Outlook
The South East Asia IVD market is segmented by offering (regents & kits, instruments/systems, and software & services), technology (molecular diagnostics, point-of-care (POC) diagnostics [lateral flow assays/rapid tests, other POC diagnostics] immunoassay/immunochemistry [Enzyme-linked Immunosorbent Assays (ELISA), Enzyme-linked Immunospot Assays (ELISPOT), Western Blotting, and Radioimmunoassay], biochemistry/clinical chemistry [metabolic panels, electrolyte panels, liver panels, lipid profiles, renal profiles, and thyroid function panels], whole blood glucose monitoring, microbiology, hematology, coagulation & hemostasis, urinalysis, and other technologies), application (infectious diseases [influenza, COVID-19, and gastrointestinal infections], cardiology, oncology, cardiology, diabetes, autoimmune disorders, nephrology, and other applications), diagnostic approach (lab testing, OTC/Self-testing, and point-of-care testing), end user (hospitals & clinics, diagnostic laboratories, home care, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on offering, the South East Asia IVD market is segmented into reagents & kits, instruments/systems, software & services. In 2023, the reagents & kits segment is expected to account for the largest share of the market. This large share can be attributed to the recurrent use of reagents and kits, high prevalence of infectious & chronic diseases, and the availability of kits for a wide range of diseases.
Download Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5613
Based on technology, the South East Asia IVD market is segmented into molecular diagnostics, immunoassay/immunochemistry, biochemistry/clinical chemistry, whole blood glucose monitoring, hematology, microbiology, coagulation & hemostasis, urinalysis, and other technologies. The molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period. Factors contributing to the segment’s growth are the growing demand for precise infectious disease testing as the region is the hotspot of emerging infectious diseases and the growing prevalence of chronic diseases. Molecular diagnostics enable precise testing of infections and diseases as infectious diseases are hard to diagnose in the initial phase of infections the molecular diagnostics.
Based on application, the South East Asia IVD market is segmented into infectious diseases, oncology, cardiology, diabetes, autoimmune disorders, nephrology, and other applications. In 2023, the infectious disease segment is expected to account for the largest share of the market. This large share is attributed to the increasing number of new cases of infectious diseases, the high risk of emerging infectious diseases for the region, and the initiatives of organizations such as the WHO to monitor and increase awareness. The number of new cases of various infectious diseases continues to rise in the countries of South East Asia region. For instance, in June 2023, a total of 10,335 dengue cases were reported in Thailand, which was 2.5 times higher in May.
Request for Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5613
Based on diagnostic approach, the South East IVD market is segmented into lab testing, OTC/self-testing, and point-of-care testing. In 2023, the lab testing segment is expected to account for the largest share of the market. This large share is attributed to the hospitals' high preference for diagnostic labs and the capacity of labs to process large samples with lower turnaround times.
Based on end user, the South East Asia IVD market is segmented into diagnostic laboratories, hospitals & clinics, home care, and other end users. The diagnostic laboratories segment is estimated to account for the largest share of the South East Asia IVD market in 2023. The large share of this segment is attributed to the high burden of chronic diseases, the high prevalence of infectious diseases, and large preference for diagnostic laboratories.
Geographic Review:
This research report analyzes major countries and provides a comprehensive analysis of the South East Asia IVD market in Indonesia, Vietnam, Thailand, the Philippines, Malaysia, Singapore, and the Rest of South East Asia. Indonesia is expected to dominate the South East Asia IVD market in 2023. The high prevalence of infectious & chronic diseases, growing healthcare spending, favorable initiatives, and the growing awareness regarding early disease diagnosis are expected to support Indonesia’s largest share.
Customize my Report: https://www.meticulousresearch.com/request-customization/cp_id=5613
Key Players
The key players operating in the South East Asia IVD market are Abbott Laboratories (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), QIAGEN N.V. (Netherlands), Siemens Healthineers AG (Germany), Thermo Fisher Scientific Inc. (U.S.), and Sysmex Corporation. (U.S.).
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research