What are Reasons behind Growth of In-Vitro Diagnostic (IVD) Market?

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 The prevalence of chronic diseases, such as diabetes, cancer, cardiovascular diseases, and hypertension, has been on a rise since the past few years. As stated by the International Diabetes Federation Atlas 9th edition, 352 million people in the age group 20–64 were suffering from diabetes in 2019, and the number is predicted to increase to 486 million by 2045. Similarly, 9.6 million died because of cancer in 2018, as per the WHO.  

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As per the WHO, 118.4 million units of blood were collected in 2018 through donations, across the globe. It was furthermore reported that 13,300 blood centers were present in 169 countries, and approximately 106 million blood donations were recorded. This is projected to drive the demand for IVD in the coming years. Different technologies that are used in IVD are immunochemistry, clinical chemistry, molecular diagnostics, microbiology, and hematology, out of which, the demand for clinical chemistry was the highest in the past.  

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The major application areas of IVD are autoimmune diseases, nephrology, cardiology, oncology, diabetes, and infectious diseases. The demand for in vitro diagnostic was the highest for infectious diseases in the past, and the situation is projected to remain the same in the near future as well. Infectious diseases are caused due to pathogenic microorganisms, including viruses, bacteria, fungi, or parasites, and can spread indirectly or directly from one person to another. Moreover, the high prevalence of these diseases is creating demand for innovative diagnostic techniques. 

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