In vitro diagnostics refer to tests performed on samples like blood or tissue that have been taken from the human body. IVD tests aid in early disease detection, help guide treatment decisions, and monitor disease progression or treatment effectiveness.
The global In Vitro Diagnostics Ivd Market is estimated to be valued at US$ 76,621.8 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Remote Diagnostics Advancements
One of the key trends driving growth in the in vitro diagnostics market is the increasing adoption of remote diagnostic technologies. With remote monitoring tools, patients can conduct diagnostic tests at home and share results with healthcare providers through connected digital platforms. This allows for more convenient and affordable healthcare while reducing traffic at medical facilities. Many leading IVD players are investing in technologies that enable remote testing and virtual care delivery. For example, initiatives have been launched to develop smartphone-based diagnostics and apps integrated with Bluetooth-enabled testing kits and devices. The growing preference for virtual healthcare visits during the pandemic has further accelerated the shift towards remote diagnostics globally.
Segment Analysis
The global in vitro diagnostics market can be segmented based on product and services, technology, application and end user.
By product and services, the market can be bifurcated into reagents and kits, instruments and other services. The reagent and kits segment dominates the market currently as these are considered as essential components of IVD testing. The reagents and kits segment is expected to continue dominating the market during the forecast period due to the recurring nature of purchase of these consumables.
By technology, the market can be categorized into immunochemistry/immunoassay, clinical chemistry, molecular diagnostics, microbiology and hematology. The immunochemistry/immunoassay segment currently dominates the market due to the high usage of these tests for detecting diseases and conditions like infectious diseases, cardiology, endocrinology and oncology. The molecular diagnostics segment is expected to witness high growth during the forecast period.
Key Takeaways
The global in vitro diagnostics market size was valued at US$ 76,621.8 million in 2024. The market is estimated to grow at a CAGR of 5.3% during the forecast period.
Regional analysis: North America currently dominates the global in vitro diagnostics market due to developed healthcare infrastructure and presence of major market players in the region. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period. This is attributed to increasing awareness regarding IVD tests, increasing healthcare expenditure and presence of untapped opportunities in the emerging economies of Asia Pacific region.
Key players: Key players operating in the in vitro diagnostics market include Siemens Healthineers, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux S.A., Becton Dickinson, and Company, Danaher Corporation, Abbott Laboratories, F. Hoffmann-la Roche Ltd, QIAGEN N.V., Arkray, Inc., Nittobo Medical Co., Ltd., Medical & Biological Laboratories Co., Ltd., Miraca Holdings Inc., and Mizuho Medy Co., Ltd. Siemens Healthineers and Roche Diagnostics currently dominate the global IVD market. Other emerging players are expanding their product portfolio and geographic presence through mergers and acquisitions to strengthen their market position.
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