According to the latest report by IMARC Group, titled "In Vitro Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global In vitro diagnostics market size reached US$ 104.6 Billion in 2022. In vitro diagnostics (IVD) rely on medical tests that are performed on biological samples taken from a patient outside of their body in a laboratory or other medical settings. They are used to diagnose and predict diseases or conditions, such as infectious diseases, cancer, diabetes, and autoimmune disorders, to monitor the effectiveness of treatments and identify genetic mutations. They aid in minimizing hospital stays as they can generate instant results of samples for better diagnostic decisions. They enable multiple tests at the same time for screening for the presence of drugs in patients.
Global In Vitro Diagnostics Market Trends:
The surging prevalence of chronic and infectious diseases and the growing aging population, which is more prone to develop these medical conditions, represent one of the major factors driving the demand for IVD around the world. Moreover, the increasing preference for personalized medicines and diagnostics is favoring the growth of the market. In addition, the rising demand for point of care testing (POCT) that allows healthcare providers to diagnose and monitor patients at the point of care quickly and easily is augmenting the growth of the market. Apart from this, the growing demand for IVD devices for immunodiagnostics or tissue diagnostics and hematology is influencing the market positively. Furthermore, key players are introducing automated IVD systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses. This, coupled with the advent of IVD products with molecular diagnostic capabilities for delivering effective and precise results, is contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 149.95 Billion by 2028, exhibiting a CAGR of 6.00% during 2023-2028.
- On the basis of the test type, the market has been segmented into clinical chemistry, molecular diagnostics, immunodiagnostics, hematology, and others. Presently, molecular diagnostics hold the largest market share.
- Based on the product, the market has been bifurcated into reagents and kits and instruments. Reagents and kits currently account for the biggest market share.
- On the basis of the usability, the market has been categorized into disposable and reusable IVD devices.
- Based on the application, the market has been segregated into infectious disease, diabetes, cancer/oncology, cardiology, autoimmune disease, nephrology, and others. Infectious disease exhibits a clear dominance in the market.
- On the basis of the end user, the market has been classified into hospitals laboratories, clinical laboratories, point-of-care testing centers, academic institutes, patients, and others.
- Region wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Agilent Technologies Inc., Biomerieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd, Fujifilm Holdings Corporation, Illumina Inc., Qiagen NV, Quest Diagnostics, Shimadzu Corporation, Siemens Healthcare GmbH, and Sysmex Corporation.
|Base Year of the Analysis
| Historical Period
||Test Type, Product, Usability, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Agilent Technologies Inc., Biomerieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd, Fujifilm Holdings Corporation, Illumina Inc., Qiagen N.V, Quest Diagnostics, Shimadzu Corporation, Siemens Healthcare GmbH and Sysmex Corporation
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