Clinical Diagnostic Devices Market valued USD 922.1 million in 2020 and it is expected to reach USD 1780.3 million by 2030 with the CAGR of 6.8% during the forecast period. Clinical diagnostic devices which help the doctors to treat the patients accurately and diagnose the disease. The demand for clinical diagnostic devices is increasing as they help to ease the tasks of the doctors, help to reduce the time spent , efforts made to measure basic vital signs, and among others are the factors encouraging the market growth in near future. Furthermore, Clinical diagnostics are helping to understand chronic disease conditions, disease prevention, detection, and management by  making physicians to make correct clinical decision .For instance,  checking of daily routine checks in case diabetic patients, the detection of early warning signs and individual risk factors are  some of the major factors positively influencing the market growth.

Market Segmentation:

On the basis of type, the clinical diagnostic devices market is segmented into stethoscopes, sphygmomanometers, ophthalmoscopes, electrocardiographs, thermometers and others. On the basis of application, the market is segmented into cardiology, oncology, gastrology, neurology, infectious diseases, orthopedics, and others. Based on devices, the market is segmented into diagnostic imaging, in-vitro diagnostics, patient monitoring and others. Diagnostic imaging devices are further sub- segmented into magnetic resonance imaging, radiography, nuclear medicine, elastography, ultrasound, photoacoustic imaging, tomography, point-of-care devices, echocardiography, and others. The in- vitro diagnostics segment is further sub- segmented into clinical chemistry, hepatitis tests, coagulation test systems, pregnancy tests, urine test strips, blood sugar monitoring systems, point-of-care devices, and others. On the basis of end users, the market is segmented into clinics, general hospitals, and others. Based on region the clinical diagnostic devices market is segmented into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Major factors responsible in driving the market are growing rate of chronic diseases such as heart failure, diabetes, and colon cancer, growing demand for personalized medicine expanding geriatric population base and increasing patient awareness towards disease diagnosis. In addition to this,  the ability of point of care diagnostic tests to obtain immediate results, improved patient care,   rising market penetration of PACS (picture archiving and communication systems), and  EMR (electronic medical records) are triggering the clinical diagnostic devices market growth. Moreover, rising prevalence of various diseases, cancer, autoimmune diseases, and inflammatory diseases, is expected to drive the demand for IVD testing. For instance, according to National Institute of Health (NIH), in 2017, approximately 23.5 Million cases of autoimmune diseases were reported in America and this number is expected to increase over the forecast period. Moreover, Introduction of advanced technologies, such as biochips and nano-biotechnology, and miniaturization of micro fluidics are emerging potential opportunities witnessing the market growth. However, lack of awareness of these devices in various regions with low technology penetration, is anticipated to affect clinical diagnostic devices market growth in upcoming years. The major challenges faced by the market are security & maintenance of data and cost effectiveness.

Geographic Analysis:

Geographically, the clinical diagnostic devices market is segmented into North America, Europe, Asia Pacific, and RoW. North America is estimated to dominate the market due to increased healthcare awareness, supportive technology development and infrastructure. Developing infrastructure development and economic growth in China, Japan, and India are setting up new standards for clinical diagnostic devices market growth in Asia Pacific.

Competitive Scenario:

Some of the key players of   are clinical diagnostic devices market are Siemens Healthcare, Sonic Healthcare Ltd, Charles River Laboratories, Quest Diagnostics Inc., Bioscientia Healthcare, Bio-Reference Laboratories, ARUP Laboratories, Genzyme Corporation, Abbott Laboratories,  Laboratory Corporation of America Holdings (Labcorp), Labco S.A., Healthscope Limited., Qiagen, Genoptix Medical Laboratory, and Clarient Inc.

Clinical Diagnostic Devices Market Report Scope