(I-BusinessNews.Com, October 16, 2020 ) According to the latest report by Renub Research, titled "Japan In Vitro Diagnostics (IVD) Market, By Diagnostics, Companies, Reimbursements, Porter's Model, Growth Drivers, Opportunities Challenges" Japan is facing the problem of the ageing population as it has a large population of people more than 65 years of age. This means that country is likely to face a rise in prevalence of chronic and infectious diseases. All of these diseases with the help of IVD test, conditions can be detected early, which leads to early intervention, thus improving patient outcomes, saving lives, and the cost of costly late-stage care. Increase in the number of IVD laboratories around Japan is enabling patients to get better diagnostic facilities. According to Renub Research, Japan In Vitro Diagnostic Market is forecasted to be USD 4.43 Billion by 2026.
Besides, growth in adoption of genetic testing, point-of-care testing, molecular diagnostics, Polymerase Chain Reaction (PCR), personalized medicine and Next-Generation Sequencing (NGS) is expected to drive the growth of the in vitro diagnostics industry in Japan during the forecast period. Japan is being considered to have one of the robust clinical laboratories globally.
COVID-19 Impact on Japan IVD Market
The demand for in-vitro diagnostic products is expected to grow in Japan, due to the COVID-19 pandemic is likely to increase due to factors such as growth in consumer demand for PCR, NGS, serology-based rapid-test products, the supportive regulatory environment for drug creation & marketing and a sharp increase in target patient population.
By Diagnostics: This research report has covered the market and market share of Self Monitoring of Blood Glucose (SMBG), Tumor Marker, Infectious Disease, Urine & Feces, Hematology, Immunology, Microbiology, Clinical Chemistry, Pathology and Genetic Testing.
By Companies: This research report has covered Company Overview, Recent Development or Strategy, and Revenue analysis for Becton Dickinson, Biomerieux, Abbott Laboratories, Roche Diagnostics, and Danaher Corporation.
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