In Vitro Diagnostic (IVD) In Cardiology And Neurology Global Market 2024 To Reach $22.18 Billion By 2028 At Rate Of 8.8%
The Business Research Company's In Vitro Diagnostic In Cardiology And Neurology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 31, 2024 /EINPresswire.com/ -- The in vitro diagnostic (IVD) in cardiology and neurology market has experienced robust growth in recent years, expanding from $14.58 billion in 2023 to $15.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to rise in the prevalence of age-related cardiovascular and neurological disorders, rise in the aging population, growing emphasis on preventive healthcare and early disease detection, the increasing burden of cardiovascular diseases (CVDs) and neurological disorders, such as stroke and Alzheimer's disease, rise in investments in healthcare infrastructure, and rise in supportive regulatory frameworks governing the approval and reimbursement of diagnostic tests
Strong Future Growth Anticipated
The in vitro diagnostic (IVD) in cardiology and neurology market is projected to continue its strong growth, reaching $22.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to the shift towards personalized medicine in cardiology and neurology, increasing demand for rapid and on-site testing solutions in cardiology and neurology, expansion of telemedicine and remote consultation services, and rise in research initiatives.
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Growth Driver Of The In Vitro Diagnostic (IVD) In Cardiology And Neurology Market
The expansion of personalized medicine is expected to fuel the growth of the in vitro diagnostic (IVD) in cardiology and neurology market going forward. Personalized medicine refers to a medical approach that tailors healthcare decisions, practices, interventions, and treatments to individual characteristics of each patient. Personalized medicine is expanding due to advancements in genomics, increased understanding of disease mechanisms, patient demand for tailored treatments, and regulatory support, among other factors. In vitro diagnostic (IVD) tests in cardiology and neurology facilitate personalized medicine by providing crucial information about an individual's genetic makeup and disease status, guiding tailored treatment plans for improved efficacy and reduced risks.
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Major Players And Market Trends
Key players in the in vitro diagnostic (IVD) in cardiology and neurology market include F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG.
Major companies operating in the in vitro diagnostic (IVD) in cardiology and neurology market are developing AI-enabled integrated epigenetic engines for early disease detection and risk assessment. AI-enabled integrated epigenetic engines leverage machine-learning models and advanced biomarker analysis techniques to enhance sensitivity and accuracy in diagnosing and monitoring cardiovascular diseases, addressing critical drivers of disease progression.
Segments:
1) By Product Type: Instruments, Reagents And Consumables, Software And Services
2) By Technology: Immunoassays, Molecular Diagnostics, Hematology, Other Technologies
3) By End-User: Hospitals, Clinical Laboratories, Other End-Users
Geographical Insights: North America Leading The Market
North America was the largest region in the in vitro diagnostic (IVD) in cardiology and neurology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in vitro diagnostic (IVD) in cardiology and neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Definition
In vitro diagnostic (IVD) in cardiology and neurology refers to medical tests performed on samples such as blood, urine, or tissue outside the body to diagnose various cardiovascular and neurological conditions. These tests play a crucial role in early detection, monitoring, and treatment decisions for diseases such as heart disease, stroke, Alzheimer's disease, and others. It also provides timely diagnostic information, guiding patient management, and improving outcomes in cardiology and neurology.
In Vitro Diagnostic (IVD) In Cardiology And Neurology Global Market Report1 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The In Vitro Diagnostic (IVD) In Cardiology And Neurology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on in vitro diagnostic (IVD) in cardiology and neurology market size2, in vitro diagnostic (IVD) in cardiology and neurology market drivers and trends, in vitro diagnostic (IVD) in cardiology and neurology market major players, in vitro diagnostic (IVD) in cardiology and neurology competitors' revenues, in vitro diagnostic (IVD) in cardiology and neurology market positioning, and in vitro diagnostic (IVD) in cardiology and neurology market growth across geographies. The in vitro diagnostic (IVD) in cardiology and neurology market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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