Research Nester has released a report titled “In-Vitro Inflammatory Bowel Disease (IBD) Diagnostic Market: Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The prevalence of IBD worldwide in the year 2017 recorded to 6.8 Million, according to the statistical report titled “The Global, Regional and National Burden of Inflammatory Bowel Disease in 195 Countries and Territories, 1990-2017: A Systematic Analysis for the Global Burden of Disease Study 2017”. In addition to this, in the same year, the age-standardized prevalence rate of the disease reached 84.3 per 100000 population, by growing from 79.5 per 100000 population in the year 1990.
The statistics portray the growing concern for the increasing prevalence of IBD around the globe, and the need amongst individuals for the diagnosis and treatment of the disease. Till date, the exact cause of IBD is unknown and preventing the disease can only help a patient survive from the disease. Hence, there is a rising awareness amongst the individuals for the diagnosis of the disease, which is anticipated to drive the market growth.
The global in-vitro inflammatory bowel disease (IBD) market is anticipated to grow with a CAGR of 5.4% over the forecast period, i.e., 2021 – 2028. The market is estimated to garner a revenue of USD 2391.64 Million by the end of 2028, up from USD 1640 Million in 2019. The market is segmented by product into assays/biomarkers and analyzers. Amongst these segments, the assays/biomarkers segment is anticipated to hold the highest market share and also grow with the highest CAGR of 5.6% during the forecast period. The market is further segmented by test type into blood tests, stool tests, antibody tests, and biopsy. By the end of 2028, the blood tests segment is anticipated to hold the highest market share amongst all other segments and also attain a market revenue of USD 931.51 Million.
The global in-vitro inflammatory bowel disease (IBD) market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America garnered a revenue of USD 723.24 Million in the year 2019, and it is further expected to reach USD 1067.01 Million by the end of 2028. Further, the market in the region is also anticipated to grow with the highest CAGR of 5.7% during the forecast period.
However, the stringent norms for product approval is one of the major factors expected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global in-vitro inflammatory bowel disease (IBD) market, which includes company profiling of DiaSorin S.p.A., American Laboratory Products Company, Ltd. (d/b/a ALPCO Diagnostics), Quidel Corporation, CerTest Biotec, S.L., BUHLMANN Laboratories AG, BioSystems S.A., Inova Diagnostics, Inc. (Werfen), and others.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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 Inflammatory Bowel Disease (IBD) Diagnostic Market: Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall global in-vitro inflammatory bowel disease (IBD) 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 inflammatory bowel disease (IBD) market in the near future.
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