Italy In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents, Services), By Technology, By Application (Infectious Disease, Diabetes, Oncology/Cancer), By End-use, And Segment Forecasts, 2023 - 2030

Italy In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents, Services), By Technology, By Application (Infectious Disease, Diabetes, Oncology/Cancer), By End-use, And Segment Forecasts, 2023 - 2030

Italy In Vitro Diagnostics Market Growth & Trends

The Italy in vitro diagnostics market size is expected to reach USD 3.74 billion by 2030, set to decline at a CAGR of -1.90% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is driven by the surge in demand for IVD products, owing to the increasing prevalence of target diseases and increasing awareness about early diagnostics of diseases among people. Moreover, the development of automated IVD systems for different healthcare service providers to provide accurate, precise, efficient, and error-free diagnosis is anticipated to boost the Italy IVD market in the coming years.

The Italy IVD market is likely to be supported by the increase in the development of POC tests that allow flexible, precise, easy-to-use, and speedy testing. For instance, in April 2021, DiaSorin launched the LIAISON Quick Detect COVID TrimericS Ab test and LIAISON IQ an immunodiagnostic POC reader. This test can detect specific IgG antibodies in 10 minutes. In addition, LINX DUO, developed by Menarini Diagnostics s.r.l, is a POC multi-assay automated analyzer for HbA1c and CRP testing capable of giving results in a span of a few minutes.

In addition, the companies operating in Italy IVD market are undertaking strategic initiatives such as partnerships and others to strengthen their product portfolio in point-of-care testing. For instance, in July 2020, A. Menarini Diagnostics and Skyla Corporation announced a distribution & supply agreement for LINX DUO multi-assay analyzer and LINX EVO clinical chemistry analyzer. With this partnership, Menarini is expected to strengthen its portfolio for POC diagnostics with state-of-the-art technology.

The increase in the aging population is anticipated to boost the uptake of IVD products thereby facilitating growth. The research found that the geriatric population is more susceptible to chronic diseases and according to the Instituto Superiore di Sanita, over 85% of people over 75 years suffer from chronic diseases. Some major diseases associated with aging are cardiovascular disorders, arthritis, diabetes, autoimmune disorders, and Alzheimer’s disease among others. The increasing risk of developing chronic disease is expected to further support the growth.

Furthermore, government bodies and key market players are taking favorable initiatives to facilitate healthcare services in the country. For instance, in June 2022, Sentinel diagnostics launched SENTiFIT 800 Analyzer, a high throughput and fully automated system for fecal immunochemical tests. Moreover, in April 2021, Lumos Diagnostics and DiaSorin entered into a strategic collaboration for the launch of the point-of-care portable immunoassay platform LIAISON IQ.

Italy In Vitro Diagnostics Market Report Highlights

• Reagents segment held the largest market share in 2022 owing to increasing demand for clinical tests for targeted diseases
• Based on the technology, the molecular diagnostics segment dominated Italy in vitro diagnostics (IVD) industry due to the continuous evolution in technology and market introduction of novel products
• The blood banks segment is anticipated to exhibit the fastest growth rate owing to the rising demand for automated instruments in blood banks and increasing blood transfusions