In Vitro Diagnostic (IVD) Trends and Market Update: March 2024
Diagnostic testing has become a fundamental aspect of healthcare, aiding physicians in diagnosing conditions and determining treatments. Despite a decline in COVID-19 testing affecting total revenues, core diagnostic segments have generally experienced growth. Factors such as new products, changes in global health spending, regulatory shifts, and disease trends contribute to a constantly changing market, yet one that remains resilient.
Key growing segments attracting industry attention include next-generation sequencing (NGS), personalized medicine, and mass spectrometry. Immunochemistry, point-of-care (POC) testing, and molecular diagnostics are also of significant interest, expected to play a crucial role in the future of IVD. The IVD market remains dynamic, characterized by constant innovations.
In Vitro Diagnostic (IVD) Trends and Market Update: March 2024 by Kalorama Information provides the most current insights into these trends and others shaping the market. This report reflects the latest information available.
In In Vitro Diagnostic (IVD) Trends and Market Update: March 2024, you’ll discover:
- What’s Driving Growth in the IVD Market in 2024
- What Major Trends are Affecting the Market in 2024
- What Product Trends and New Developments Will Shape the IVD Market in 2024
- Growing interest in multiplex disease testing
- Increasing interest in digital diagnostics, combining data and analytics with traditional IVD
- Continued advancement of AI technologies
- Growth in rapid and POC testing
- And much more!
- Worldwide IVD Market - March 2024 Update
- IVD Market Demand and Growth
- Table Quarter-by-Quarter Segment Performance Commentary, 2023
- Table Global In Vitro Diagnostic Sales by Product Market (Clinical Chemistry; Immunoassays: 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), 2023 ($M)
- Table IVD Quarterly Segment Performance, by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Q1 2022-Q4 2023 ($M)
- Table IVD Segment Performance, by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Total Market Value, 2023 ($M)
- COVID-19 Diagnostic Markets
- Table COVID-19 Product Sales, by Segment (Immunoassay [Antigen, Serology]; Molecular; Rapid), 2023 ($M)
- Effect of COVID-19 on Market Segments
- Table IVD Market excluding and with COVID-19, 2023 ($M)
- Table IVD Market Distribution, by Segment (COVID-19 Assays and Instruments; Excluding COVID-19 Assays and Instruments), 2023 (%)
- Table IVD Market by COVID-19 and non-COVID markets, Quarterly Performance, 2024 ($M)
- 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/genetic tests; 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/genetic tests; 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 - Q4 2023 and Q1 2024 - Core IVD Product Launches, Developments and Trends
- Immunoassay
- Molecular
- Personalized Medicine and Genetic Testing
- POC
- Sequencing
- Microbiology
- Selected COVID-19 Developments - Q4 2023 - Q1 2024
- Table COVID-19 Test Market, by Type (Antigen, Molecular, Rapid, Serology), Q1 2023-Q4 2023 - COVID-19 Testing Wanes ($M)
- Selected New - Q4 2023 and Q1 2024 - Core IVD Product Launches, Developments and Trends
- Top IVD Market Participant Results
- Selected Competitive Leader Updates
- Table IVD Segment Growth, by Leading Competitors (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Exact Sciences, QuidelOrtho, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific), Change in Sales, 2022-2023 (%)
- Table Changes in Market Distribution for IVD Sales, Top 10 Companies (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Exact Sciences, Hologic, QuidelOrtho, Revvity, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Werlen, Others), 2020-2023 [Roche and Abbott Battle for #1 Spot]
- Table Comparison of Total Diagnostic Sales for Abbott vs Roche, 2021-2023 ($M)
- Q4 2023, Q1 2024 M&A Activity
- Table Selected Diagnostic Market Mergers and Acquisitions Deals, Q4 2023-Q1 2024 ($M)
- Table Count of IVD Industry M&A Deals, by Month, Full Year 2023 and Jan-Feb 2024
- Abbott Laboratories
- Table Abbott Corporate Summary
- Table Abbott Diagnostics Revenue, by Segment (Core Laboratory, Molecular, Point-of-Care, Rapid Diagnostics, COVID-19), Full Year 2022 and 2023 ($M)
- Becton Dickinson and Co
- Table Becton Dickinson Corporate Summary
- Table BD Life Sciences, Revenues by Business, FY End September 30, 2022, and 2023 ($M)
- bioMérieux SA
- Table bioMérieux Corporate Summary
- Table bioMérieux Clinical Applications, by Segment (Immunoassays, Microbiology, Molecular Biology, Other Lines), Full Year Results, 2022-2023 ( M)
- Danaher Corporation
- Table Danaher Corporation Summary
- Table Danaher Diagnostic Segment Performance, Full Year Results, 2022-2023 ($M)
- Exact Sciences, Inc.
- Table Exact Sciences Corporate Summary
- Table Exact Sciences Segment Performance, by Segment Revenue (COVID-19 Testing, Precision Oncology, Screening), Full Year Results, FY 2022-FY 2023 ($M)
- Hologic, Inc.
- Table Hologic Corporate Summary
- Table Hologic Diagnostic Segment Performance, by Segments (Blood Screening, Cytology & Perinatal, Molecular Diagnostics), Full Year Results, FY 2022-FY 2023 ($M)
- QuidelOrtho Corporation
- Table QuidelOrtho Corporate Summary
- Table QuidelOrtho Financial Results, by Segment (Immunoassays, Molecular Diagnostics, Point-of- Care, Transfusion Medicine), 2022-2023 ($M)
- Roche Diagnostic
- Table Roche Diagnostic Corporate Summary
- Table Roche Diagnostics Revenue, by Product Group (Core Lab, Diabetes Care, Molecular, Pathology Lab, Point-of-Care), Full Year Results, 2022-2023 (CHF MN)
- Siemens Healthineers
- Table Siemens Healthineers Corporate Summary
- Table Siemens Diagnostics Revenue, FY 2022 and FY 2023 ( M)
- Sysmex Corporation
- Table Sysmex Corporate Summary
- Table Sysmex Revenue, by Product Segment (Clinical Chemistry, FCM, Hematology, Hemostasis, Immunochemistry, Urinalysis, Others), FY 2022, 2023 and 2024 (JPY MN)
- Thermo Fisher Scientific
- Table Thermo Fisher Scientific Corporate Summary
- Table Thermo Fisher Scientific Business Segment Performance, by Segment (Analytical Instruments, Eliminations, Laboratory Products and Services, Life Sciences Solutions, Specialty Diagnostics), 2022-2023 ($M)
- Selected Competitive Leader Updates
- New Opportunities
- Artificial Intelligence Future Trends
- At-Home Testing
- Multiplex Testing
- Telehealth
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