Global In-Vitro Diagnostics Market
Global In-vitro diagnostics (IVD) Market By Offerings (Reagents, Instruments, and Software And Services), By Technology (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, Microbiology, Coagulation & Hemostasis, and Others), By Application (Infectious Diseases, Oncology, Endocrinology, Cardiology, Blood Screening, Genetic Testing, Autoimmune Diseases, Allergy Diagnostics, Bone & Mineral Disorders, Coagulation Testing, and Others) , By End User (Hospital & Clinics, Clinical Laboratories, Point of Care, Pharmaceutical & Biotechnology Companies, Academic Institutes, and Others) And By Geography – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2021 to 2034
The global In-Vitro Diagnostics market was valued at $92.1 billion in 2023 and is anticipated to grow at a CAGR of 7.2% from 2024 to 2034. This growth is attributed to several macro and microeconomic factors such as
Rising numbers of Infectious Diseases and Chronic DiseaseOne of the foremost factors driving the growth of the In-Vitro Diagnostics (IVD) market is the increasing incidence of infectious diseases globally. Infectious diseases, such as HIV, tuberculosis, malaria, and more recently, COVID-19, have underscored the critical need for reliable, rapid, and accurate diagnostic tools. The COVID-19 pandemic, in particular, highlighted the importance of molecular diagnostics like PCR tests, which became essential for detecting and controlling the spread of the virus. This heightened awareness and the subsequent investment in diagnostic infrastructure are expected to have a lasting impact on the IVD market. Furthermore, the ongoing threat of emerging and re-emerging pathogens demands continuous advancements in diagnostic technologies to ensure timely and effective responses to future outbreaks. The demand for diagnostics in infectious disease management extends beyond just identifying the presence of pathogens. It includes monitoring disease progression, guiding treatment decisions, and conducting surveillance to track the spread and evolution of diseases. Innovations in molecular diagnostics, such as next-generation sequencing (NGS), have enabled more comprehensive and precise pathogen detection, including the identification of new variants and antimicrobial resistance genes. These advancements are crucial for implementing effective public health measures and personalized treatment plans, further driving the growth of the IVD market.
Further several factors restraining the market growth include
Rise in Aging PopulationThe aging population is a significant driver of growth in the In-Vitro Diagnostics (IVD) market, majorly due to the demand for diagnostic tests and technologies. People are more prone to developing chronic diseases such as cardiovascular diseases, diabetes, cancer, and neurodegenerative disorders due to aging. These conditions often require regular monitoring and early diagnosis to manage effectively. IVD plays a vital role in detecting these diseases at an early stage, enabling timely interventions and improving patient outcomes. Consequently, the increasing number of elderly individuals globally has led to a higher demand for various diagnostic tests, propelling the growth of the IVD market. As the global population ages, the incidence of conditions such as hypertension, diabetes, and osteoporosis rises. These conditions often necessitate routine blood tests, urine tests, and other diagnostic procedures to monitor disease progression and manage treatment. For instance, diabetic patients require regular blood glucose monitoring, while those with cardiovascular conditions need lipid profile tests. The growing burden of these chronic diseases among the elderly population has significantly contributed to the expansion of the IVD market, as healthcare providers rely on diagnostic tests to deliver effective care.
Growth in untapped emerging markets and the rise of personalized medicine are expected to generate higher avenues during the forecast period.In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the In-vitro diagnostics (IVD) market. The pandemic has caused a decline in new orders and a corresponding decrease in production.
This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for In-vitro diagnostics (IVD).
In terms of COVID-19 impact, the In-vitro diagnostics (IVD) market report also includes the following data points:Impact on In-vitro diagnostics (IVD) market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Outdoor Policies
Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the In-vitro diagnostics (IVD) market
Key Insight in the report:The global In-vitro diagnostics (IVD) market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Product Types.
Our report covers extensive competitive intelligence which includes the following data points:Business Overview
Business Segment Data
Financial Data
Product Type Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis
In-vitro diagnostics (IVD) Market Segmentation:Offerings
Reagents
Instruments
Software And Services
Technology
Immunodiagnostics
Hematology
Molecular Diagnostics
Tissue Diagnostics
Clinical Chemistry
Microbiology
Coagulation & Hemostasis
Others
Application
Infectious Diseases
Oncology
Endocrinology
Cardiology
Blood Screening
Genetic Testing
Autoimmune Diseases
Allergy Diagnostics
Bone & Mineral Disorders
Coagulation Testing
Others
End User
Hospital & Clinics
Clinical Laboratories
Point of Care
Pharmaceutical & Biotechnology Companies
Academic Institutes
Others
Region/ Countries Covered:North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
BeNeLux
Nordic
Rest of Europe
Asia Pacific
China
Japan
Australia
India
South Korea
Thailand
Indonesia
Malaysia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East & Africa
Key Players Analyzed in the Report:Abbott Laboratories
Becton, Dickinson and Company
bioMérieux
Bio-Rad Laboratories Inc
Danaher Corporation (Beckman Coulter, Inc.)
Hoffmann-La Roche
Siemens
QIAGEN N.V.
Sysmex Corporation
Thermo Fisher Scientific Inc