In Vitro Diagnostics Market, by Product Type (Instruments and Reagents & Kits), by Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology, Coagulation & Hemostasis, Urinalysis, and Others), by Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disorders, and Others), by End User (Hospital, Pathology Laboratories, Point-of-Care Diagnostics, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
In vitro diagnostic can be described as the reagents, instruments and systems intended for the diagnosis of disease or other conditions, including the determination of health status, in order to cure, alleviate, treat or prevent disease or its consequences. These products are intended for collection, processing and analysis of samples taken from the human body. They are used for taking and examining biological samples such as blood, saliva or tissue. Samples can be taken from the nose or throat, or from a vein or fingertip.
In recent years, the value of IVDs has gained increasing recognition due to their potential to save lives through earlier diagnosis of disease. The use of IVDs to predict underlying genetic diseases in addition to diagnostic screening can also prevent unnecessary patient suffering and reduce the amount of treatment required.
Market Dynamics
Increasing adoption of inorganic growth strategies by key players in market such as collaboration is expected to drive market growth over the forecast period. For instance, in July 2022, ELITechGroup, manufacturer and distributors of in vitro diagnostic equipment and reagents for clinical chemistry, microbiology, molecular diagnostics, hematology, cytology, and sweat test systems and InfanDx AG, developing diagnostic solutions for acute and critical care conditions in newborns announced at the ongoing 2022 AACC Annual Scientific Meeting & Clinical Lab Expo in Chicago, Illinois, U.S., the signing of a Memorandum of Understanding (MoU) to collaborate on the development and manufacturing of InfanDx’ HypoxE Test for ELITechGroup’s family of Selectra Pro clinical chemistry analyzers. The parties intend to enter into a formal collaboration agreement once the biomarkers targeted by InfanDx’ HypoxE Test are validated in patients from the recently closed Biomarkers And Neurological Outcome in Neonates (BANON) cohort study.
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