Market Overview
The Global In Vitro Diagnostics (IVD) Market is expected to reach a value of
USD 106.9 billion in 2023, and it is further anticipated to reach a market value of
USD 202.9 billion by 2032 at a
CAGR of 7.4.%
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In vitro diagnostics (IVDs) are
medical tests used to identify diseases, conditions, & infections. The term "in vitro" means "in glass," indicating that these tests are performed in controlled laboratory settings using test tubes & similar equipment, which sets them apart from "in vivo" tests, which are conducted inside the body. IVDs are essential tools for diagnosing and monitoring various health issues, offering a non-invasive and precise way to assess a person's health.
Market Dynamic
The global IVD market's growth is influenced by many key factors, like the prevalence of chronic & infectious diseases is notably high, allowing a surge in the demand for diagnostic procedures, which is further strengthened by the increasing use of point-of-care (POC) diagnostics & the integration of advanced technologies in in-vitro diagnostic products. In addition, there is a growth in awareness & acceptance of personalized medicine and companion diagnostics, driving the market's expansion.
Moreover, the market has seen a transition from traditional diagnostics to cutting-edge approaches working at the genetic level, owing to advanced technologies like molecular diagnostics, genetic testing, polymerase chain reaction (PCR), & next-generation sequencing (NGS) being integrated into the IVD platform.
However, despite these developments, certain challenges hinder market growth. Stringent regulations governing product approvals & complex reimbursement procedures create obstacles to the industry's progress, yet even after these hurdles, the IVD market continues to evolve & expand, driven by its essential role in diagnosing & managing a wide range of health conditions.
Research Scope and Analysis
By Product
The reagent products lead in driving the global market, also claiming the largest share of revenue in 2023. Furthermore, this segment is anticipated to maintain its dominant position throughout the forecasted period, which enduring success can be attributed to the substantial R&D efforts undertaken by major industry players to create innovative reagents. In addition, the introduction of kits designed for rapid cancer detection allows companies to look at specialized & profitable niches within the In Vitro Diagnostics (IVD) sector, focusing on cutting-edge reagents & targeted diagnostics highlighting the segment's major role in advancing the IVD field & its potential to impact healthcare by facilitating faster & more accurate disease identification.
By Technology
Based on technology, the molecular diagnostics category secures the major market share, primarily driven by the introduction of groundbreaking products & ongoing technological developments. Further, as traditional PCR (Polymerase Chain Reaction) methods typically require complex equipment, substantial research endeavors within this sector have allowed pioneering innovations, like plasmofluidic chips, which are incredibly compact, roughly the size of a postage stamp. These innovations have revolutionized the field by providing more efficient & streamlined testing solutions, showing the dynamic nature of molecular diagnostics. As a result, this segment has emerged as the market leader, showcasing its critical role in the ongoing evolution of diagnostic technologies & its impact on
healthcare & disease detection.
By Application
In 2023, the infectious disease application category stands out as the dominant segment within the market, holding the largest share. In Vitro Diagnostics (IVDs) play a major role in identifying the microorganisms responsible for infectious diseases, with a main focus on life-threatening infections like HIV/AIDS, tuberculosis, hepatitis, & pneumonia. Further, major players in the market are forming collaborative partnerships focusing on enhancing the availability of cutting-edge laboratory services, ensuring patients & healthcare providers have access to high-quality, innovative diagnostic solutions, which not only advances the industry's capabilities but also strengthens the overall healthcare ecosystem, ultimately enhancing the diagnosis & management of infectious diseases, which continue to be a significant global health concern.
By End User
Considering its different uses, the global market is categorized into laboratories, hospitals, home care, & other sectors, the laboratory segment takes the lead in 2023, commanding the major share of revenue, which is attributed to growing awareness surrounding personalized medicine, an increase in demand for cost-effective services, & notable technological advancements. These factors are anticipated to drive the growth of the laboratory segment, which is a primary revenue driver due to the significant volume of testing activities conducted within laboratory settings, which also underlines the essential role of laboratories in the market, highlighting their contribution to advancing healthcare through testing & diagnostic services.
By Test Location
In terms of test location, the point-of-care test location category emerges as the leader in terms of revenue in 2023, securing the highest share, which is attributed to the growing need for quick disease detection near patients, expediting critical decision-making in healthcare. This growth in demand has allowed manufacturers to develop portable, compact, swift, & user-friendly testing devices, easing their use in non-laboratory settings. As a result, the market is experiencing a growth in user-friendly & readily transportable instruments, catering to the trend of conducting diagnostic tests closer to the patient, which not only improves the accessibility & efficiency of healthcare but also shows the importance of quick and accurate disease identification in diverse healthcare settings.
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The In Vitro Diagnostics (IVD) Market Report is segmented on the basis of the following:
By Product
- Instruments
- Reagents
- Services
By Technology
- Molecular Diagnostics
- Immunoassay
- Microbiology
- Hematology
- Clinical Chemistry
- Coagulation
- Others
By Application
- Infectious Disease
- Diabetes
- Oncology
- Nephrology
- Cardiology
- Drug Testing
- Autoimmune Disease
- Others
By End User
- Laboratories
- Hospitals
- Home Care
- Others
By Test Location
- Point of Care
- Home Care
- Others
Regional Analysis
North America leads in the global IVD market, contributing a substantial 42.2% of the total revenue in 2023, and is expected to maintain its dominant position in the forecasted period, which is driven by factors like the growth in the number of chronic diseases, a rapidly growing elderly population, substantial healthcare funding, & government support. The rising demand for customized healthcare through genetic testing, mainly for conditions like diabetes & cancer, is anticipated to further boost the market in North America.
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Also, Asia Pacific plays a significant role in the 2023 market, with promising growth prospects for the future, as it is projected to be the fastest-growing regional market due to factors such as strong & stabilizing economies, government policies that encourage healthcare development, a burgeoning middle-class population, and rapid urbanization. In vitro diagnostics tests in this region are crucial for diagnosing heart-related disorders, infectious diseases, and cancer, among other health concerns, making it a key growth area for the industry.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The In Vitro Diagnostic market comprises many companies operating both globally & regionally, resulting in a diverse & competitive landscape, as there are numerous international & local companies looking for their share of the market. As a result, the industry doesn't have a major dominant player but is shared among various competitors. These players come in different sizes & strengths, making the market's structure diverse and varied, reflecting a mixture of global and regional influences on its dynamics.
In March 2023, Abbott revealed that its Alinity i laboratory device, built to diagnose traumatic brain injuries (TBIs) & look for concussions using two specific biomarkers, has got the green light from the FDA for commercial release, which means the instrument will be now authorized for use & sale in the market. The device's approval shows a significant step forward in enhancing the diagnosis & assessment of TBIs & concussions, creating a valuable tool for healthcare professionals to improve patient care in these critical areas.
Some of the prominent players in the global In Vitro Diagnostics (IVD) Market are:
- Siemens Healthcare
- Abbott
- Sysmex Corp
- bioMerieux
- Qiagen
- Danaher Corp
- Quest Diagnostics
- Becton Dickinson (BD)
- Quidel Corp
- Grifols
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global In Vitro Diagnostics (IVD) Market
The COVID-19 pandemic had a higher impact on the Global In Vitro Diagnostics (IVD) market. Demand for IVD tests, like PCR & antibody tests, increased as they became critical tools for diagnosing & monitoring the virus, which boosted the IVD market temporarily. However, the recession caused by the pandemic led to a decline in healthcare budgets & halt in non-essential medical procedures, affecting the long-term growth of the IVD market. As healthcare systems adapted to the pandemic, there was a growing focus on quick point-of-care testing solutions. These challenges & opportunities have reshaped the IVD market landscape, emphasizing the importance of flexibility & innovation in addressing future healthcare crises.
| Report Characteristics |
| Market Size (2023) |
USD 106.9 Bn |
| Forecast Value (2032) |
USD 202.9 Bn |
| CAGR (2023-2032) |
7.4% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Instruments, Reagents, and Services), By
Technology (Molecular Diagnostics, Immunoassay,
Microbiology, Hematology, Clinical Chemistry,
Coagulation, and Others), By Application (Infectious
Disease, Diabetes, Oncology, Nephrology, Cardiology,
Drug Testing, Autoimmune Disease, and Others), By
End User (Laboratories, Hospitals, Home Care, and
Others), By Test Location (Point of Care, Home Care,
and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Siemens Healthcare, Abbott, Sysmex Corp,
bioMerieux, Qiagen, Danaher Corp. Quest
Diagnostics, Becton Dickinson (BD), Quidel Corp,
Grifols, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global In Vitro Diagnostics (IVD) Market size is estimated to have a value of USD 106.9 billion in
2023 and is expected to reach USD 202.9 billion by the end of 2032.
North America dominates the Global In Vitro Diagnostics (IVD) Market with a share of 42.2% in 2023.
Some of the key players in the Global In Vitro Diagnostics (IVD) Market are Abbott, Siemens Healthcare,
Qiagen, and many others.
The market is growing at a CAGR of 7.4 percent over the forecasted period.