In Vitro Diagnostic (IVD) Trends and Market Update: November 2023
In vitro diagnostic (IVD) testing is getting back to regular business and continues to be a driving force in the practice of medicine. It has gone from helping the physician to diagnose illness to providing the physician with invaluable information on treatments such as precision medicine. COVID-19 testing continues to decline but is still a factor in total revenues for 2023. New products, changes in global health spending, regulatory changes in major markets and disease trends are among the factors that produce a constantly changing market picture but one that remains resilient. IVD Trends and Market Update: November 2023 by Kalorama Information is the most up-to-date resource on these and other key market trends. Diagnostic test products have never been more important. This report is an update of the market for in vitro diagnostics products from Kalorama’s analysts to reflect the latest information as of Q3 2023 with a publication date of November 2023.
There are some growing segments in the market that have attracted industry attention. Among these are Point-of-Care, next-generation sequencing (NGS), cancer testing, and companion diagnostics technologies. Immunochemistry, mass spectrometry. Gene testing and molecular diagnostics are also segments of great market interest, anticipated to be a big part of the future of IVD.
Trends highlighted throughout Q3 2023 include:
- Multiplex testing is proliferating
- Continued interest in adopting AI technologies
- What’s Driving Growth in the IVD Market in Q3 and the last half of 2023?
- What Major Trends are Affecting the Market in Q3 and the last half of 2023?
- How Has COVID-19 Impacted and Continued to Impact the Market in Q3 and the last half of 2023?
- What Product Trends and New Developments Will Shape the IVD Market in the last half of 2023?
- Worldwide IVD Market - October 2023 Update
- IVD Market Demand and Growth
- Table Q3 Segment Performance Commentary, 2023
- Table Global In Vitro Diagnostic Sales by Product Market, 2023 ($ million) (Clinical Chemistry; Immunoassays - non isotopic [Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c - lab]; Hematology - Core Lab; Microbiology [ID/AST]; Microbiology [molecular]; Microbiology - Mass Spectrometry; Coagulation [PT/INR]; Coagulation, molecular; Histology/cytology; HPV, molecular; Nucleic acid assays; Blood grouping/typing; Blood bank molecular - NAT Screens; Circulating tumor cells; POC, OTC diabetes; POC, OTC other; POC, professional/hospital; Mass Spectrometry; Other IVD)
- Table IVD Segment Performance, Q1 2023 - Q4 2023e ($MN)
- Table IVD Segment Performance (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Total Market Value, 2023 ($MN) Estimated
- COVID-19 Diagnostic Markets
- Table COVID-19 Product Sales, by Segment (Immunoassay [Antigen, Serology], Molecular, Rapid [POC Professional, POC At-Home]), 2023 ($ millions)
- Effect of COVID-19 on Market Segments
- Table IVD Market (excluding and with COVID-19), 2023 ($ millions)
- Table IVD Market Distribution, by Segment (COVID-19 Assays and Instruments, IVD Market excluding COVID-19 Assays and Instruments), 2023 (%)
- Table IVD Market by COVID-19 and non-COVID Markets, Quarterly Performance, 2023 Estimated ($ millions)
- Table Global In Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays - non isotopic [Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c - lab]; Hematology - Core Lab; Microbiology [ID/AST]; Microbiology [molecular]; Coagulation [PT/INR]; Histology/cytology; d-dimer; Nucleic acid assays; Blood grouping/typing; Blood bank molecular - NAT Screens; POC, OTC diabetes; POC, OTC other; POC, professional/hospital), YoY Growth 2022-2023 (%)
- Table Global In Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays - non isotopic [Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c - lab]; Hematology - Core Lab; Microbiology [ID/AST]; Microbiology [molecular]; Coagulation [PT/INR]; Histology/cytology; d-dimer; Nucleic acid assays; Blood grouping/typing; Blood bank molecular - NAT Screens; POC, OTC diabetes; POC, OTC other; POC, professional/hospital), YoY Growth 2022-2023 (%)
- IVD Market Demand and Growth
- Product Trends and New Developments
- Selected New - Q3 2023 - Core IVD Product Launches, Developments and Trends
- Clinical Chemistry
- Flow Cytometry
- Immunoassay
- Mass Spectrometry
- Molecular
- Personalized Medicine
- POC
- Sequencing
- Selected COVID-19 Developments - Q3 2023
- Table COVID-19 Test Market, by Type (Antigen, Molecular, Serology, Rapid), Q1-Q4 2023 ($ millions)
- Antigen/Antibody
- Molecular
- Selected New - Q3 2023 - Core IVD Product Launches, Developments and Trends
- Top IVD Market Participant Results
- Selected Competitive Leader Updates
- Table IVD Segment Growth, by Leading Competitors (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Exact Sciences, QuidelOrtho, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific), Change in Sales, 2022-2023 (%)
- Table Changes in Market Distribution for IVD Sales, 2020-2023 - Roche and Abbott Battle for #1 Spot
- Table Comparison of Total Diagnostic Sales for Abbott vs Roche, 2020-2023 ($ millions)
- Q3 M&A Activity
- Table Q3 2023 Merger and Acquisition Activity
- Abbott Laboratories
- Table Abbott Corporate Summary
- Becton Dickinson and Co
- Table Becton Dickinson Corporate Summary
- bioMérieux SA
- Table bioMérieux Corporate Summary
- Danaher Corporation
- Table Danaher Corporation Summary
- Hologic, Inc.
- Table Hologic Corporate Summary
- QuidelOrtho Corporation
- Table QuidelOrtho Corporate Summary
- Roche Diagnostic
- Table Roche Diagnostic Corporate Summary
- Siemens Healthineers
- Table Siemens Healthineers Corporate Summary
- Sysmex Corporation
- Table Sysmex Corporate Summary
- Thermo Fisher Scientific
- Table Thermo Fisher Scientific Corporate Summary
- Selected Competitive Leader Updates
- New Opportunities
- Multiplex Testing
- Next-Generation Sequencing
- Artificial Intelligence Future Trends
- Disruptive Technologies
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