Market Snapshot:
In-Vitro Diagnostics (IVD) is useful for the detection of any kind of infection & diseases by taking the sample from the human body to treat diseases or its sequelae. In-vitro diagnostics products include instruments, reagents, as well as any system used for the diagnosis of diseases. The growing incidence of chronic as well as infectious diseases coupled with increasing geriatric population around the globe are the factors that drive global IVD market growth. Moreover, a growing number of public as well as private diagnostic centers & point of care testing centers are likely to impel the in-vitro diagnostics market growth over the coming years.
Highlights from In-Vitro Diagnostics Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Forecast Value (2030) | USD 89.74 Billion |
Unit | Value (USD Billion) |
CAGR | 20.3% |
The key Players profiled in the report are Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (United States), Abbott Laboratories (United States), Thermo Fisher Scientific (United States), Johnson & Johnson (United States), Becton, Dickinson and Company (United States), Bio-Rad Laboratories (United States), Sysmex Corporation (Japan), bioMérieux (France) and DiaSorin (Italy). Additionally, other players that are part of this comprehensive study are Ortho Clinical Diagnostics (United States), Agilent Technologies (United States) and QIAGEN (Germany).
Geographic Breakdown and Segment Analysis
The Global In-Vitro Diagnostics market presents a comprehensive analysis of the In-Vitro Diagnostics market by product type (Reagents & Kits, Instruments (Fully Automated Instruments, Semi-Automated Instruments, and Other Instruments) and Data Management Software and Services), by end-user/application (Diabetes, Infectious Diseases, Oncology, Cardiology, Autoimmune Diseases, Nephrology, Drug Testing/Pharmacogenomics, HIV/Aids and Other Applications), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global In-Vitro Diagnostics industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the In-Vitro Diagnostics market
Analyst at AMA have segmented the market study of Global In-Vitro Diagnostics market by Type, Application and Region.
Influencing Trend:
Increasing Awareness on Personalized Medicine
Market Growth Drivers:
Rising Aged Population & Growing Occurrence of Chronic and Infectious Diseases, Mounting Acceptance of Automation in Laboratories & Fully Automated Instruments and Growing Acceptance of Point-Of-Care Testing
Challenges:
Constantly Changing Regulatory Landscape
Restraints:
Hostile Reimbursement Scenario
Opportunities:
Advancement of Condition-Specific Markers & Tests and Growth Opportunities in Emerging Nations
Market Developments Activities:
In may 2022 bioMérieux, a world leader in the field of in vitro diagnostics, announces that it has finalized the acquisition of Specific Diagnostics, a privately held U.S. based company that has developed a rapid antimicrobial susceptibility test (AST) system that delivers phenotypic AST directly from positive blood cultures
In November 2023, Roche Roche announced the launch of the LightCycler® PRO System based on the proven gold standard technology of the LightCycler® Systems that came before it. This new system raises the bar for performance and usability while bridging the gap between translational research and in-vitro diagnostics
Regulatory Insights:
As per, United States Food and Drug Administration (FDA), IVDs are medical devices as defined in section 210(h) of the Federal Food, Drug, and Cosmetic Act, and may also be biological products subject to section 351 of the Public Health Service Act. Like other medical devices, IVDs are subject to premarket & postmarket controls. IVDs are also subject to the Clinical Laboratory Improvement Amendments (CLIA '88) of 1988.
Key Target Audience
In-Vitro Diagnostics Product Manufacturers, OEM Manufacturers, Pathologists and Pathology Laboratories, Group Purchase Organizations (GPOs), Distributors of IVD Products, Hospitals and Clinics and Healthcare Institutions, and Research Institutes