Research Nester published a report titled “In-Vitro Inflammatory Bowel Disease (IBD) Diagnostic Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global in-vitro inflammatory bowel disease (IBD) market in terms of market segmentation by product, disease type, disease stage, test type, patient demography, end user, test method, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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 segmented by product into assays/biomarkers and analyzers, out of which, 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 also segmented on the basis of test type into blood tests, stool tests, antibody tests, and biopsy, out of which, the blood tests segment is anticipated to hold the highest market share and also attain a market revenue of USD 931.51 Million by the end of 2028.
The global in-vitro inflammatory bowel disease (IBD) market is estimated to garner a revenue of USD 2391.64 Million by the end of 2028, up from USD 1640 Million in 2019. Rise in awareness amongst individuals for IBD, followed by the growing availability of diagnostic procedures for the diagnosis of IBD, and the increasing expenditure on healthcare, are some of the major factors anticipated to drive the market growth. The market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is anticipated to hold the highest market share throughout the forecast period and garner a revenue of USD 1067.01 Million by the end of 2028, up from USD 723.24 Million in the year 2019. Availability of a strong healthcare network, backed by the supportive initiatives of the government of the nations in the region, followed by the rising healthcare expenditure in countries, such as the United States and Canada, are some of the major factors anticipated to drive the market growth.
Surge in the Incidences of IBD to Accelerate Market Growth
In the year 2017, the prevalence of IBD around the globe 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”. Moreover, the age-standardized prevalence rate of the disease grew from 79.5 per 100000 population in the year 1990 to 84.3 per 100000 population in the year 2017.
The incidences of IBD is increasing at a significant pace. The disease, which is characterized by the chronic inflammation of the gastrointestinal tract, is known to be caused as a result of a defective immune system. However, the exact cause of the disease is yet unknown, and the disease can only be treated for prevention. The growing awareness amongst individuals for the prevalence of the disease, along with the increasing research and developments in the field of gastro sciences are therefore anticipated to contribute to the market growth during the forecast period.
However, the stringent norms for product approval is expected to operate as key restraint to the growth of global in-vitro inflammatory bowel disease (IBD) market over the forecast period.
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 profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global in-vitro inflammatory bowel disease (IBD) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.