In Vitro Diagnostic (IVD) Trends and Market Update: December 2024
The in vitro diagnostics (IVD) market has demonstrated robust growth, driven by technological advancements and expanding opportunities. Diagnostic testing has evolved from merely diagnosing illnesses to providing critical insights for precision medicine treatments. Although COVID-19 testing has declined, it continues to contribute to overall revenues in 2024. The market remains dynamic, influenced by new product developments, shifts in global health spending, regulatory changes, and disease trends, maintaining its resilience.
Several segments within the IVD market are experiencing significant growth and attracting industry attention. These include Point-of-Care (POC) testing, cancer diagnostics, companion diagnostics, immunochemistry, and mass spectrometry. Additionally, nucleic acid assays, gene testing, and HPV molecular diagnostics are poised for substantial growth, marking them as key areas of interest for the future.
Diagnostic testing is now a cornerstone of healthcare, aiding in both diagnosis and treatment decisions. Despite the decline in COVID-19 testing, core diagnostic segments have shown consistent growth. The market's evolution is driven by factors such as innovative products, global health expenditure changes, regulatory shifts, and emerging disease trends.
Key growth areas include next-generation sequencing (NGS), personalized medicine, and mass spectrometry. Immunochemistry, POC testing, and molecular diagnostics are also expected to play crucial roles in the future of IVD. The market is characterized by continuous innovation and adaptation.
The report In Vitro Diagnostic (IVD) Trends and Market Update: December 2024 by Kalorama Information provides the latest insights into these trends and other factors shaping the market. It covers:
- Drivers of growth in the IVD market in 2024
- Major trends impacting the market in 2024
- Product trends and new developments shaping the IVD market in 2024
- The increasing role of AI technologies in IVD development and testing
- Exponential growth in the POC diabetes market
- Double-digit growth in HPV molecular testing
- Significant growth in blood banking molecular NAT screening due to advancements in nucleic acid methods
- Worldwide IVD Market - December 2024 Update
- IVD Market Demand and Growth
- Table Q1 2024 - Q3 2024 Segment Performance Commentary
- Table Global In Vitro Diagnostic Sales, by Product Market, 2024 ($ 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 2024 - Q4 2024 estimated ($ million) (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other)
- Table IVD Segment Performance, Total Market Value, 2024 estimated ($ million) (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other)
- COVID-19 Diagnostic Markets
- Table COVID-19 Product Sales, by Segment, 2024 ($ million) (Immunoassay [Antigen and Serology], Molecular, Rapid [POC Professional and POC At-Home])
- Effect of COVID-19 on Market Segments
- Table IVD Market excluding and with COVID-19, 2024 ($ million)
- Table IVD Market Distribution, by Segment, 2024 (%) (IVD Market excluding COVID-19 Assays and Instruments, COVID-19 Assays and Instruments)
- Table IVD Market by COVID-19 and non-COVID Markets, Quarterly Performance, Q1 2024 - Q4 2024 estimated ($ million)
- Table Global In Vitro Diagnostic Market - YoY Growth, 2023-2024 (%) (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 Global In Vitro Diagnostic Market - YoY Growth, 2023-2024 (%) (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)
- IVD Market Demand and Growth
- Product Trends and New Developments
- Selected New - Q3 2024 - Core IVD Product Launches, Developments and Trends
- Flow Cytometry
- Immunoassay
- Molecular
- Personalized Medicine
- POC
- Sequencing
- Selected COVID-19 Developments - Q3 2024
- Table COVID-19 Test Market, by Type, Q1 2024 - Q4 2024 estimated ($ million) (Antigen, Molecular, Rapid, Serology)
- Antigen/Antibody
- Molecular
- Selected New - Q3 2024 - Core IVD Product Launches, Developments and Trends
- Top IVD Market Participant Results
- Selected Competitive Leader Updates
- Table IVD Segment Growth, by Leading Competitors, Change in Sales, 2023-2024 (%) (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Dexcom, Exact Sciences, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific)
- Table Top 10 IVD Companies: Changes in Market Distribution for IVD Sales, 2021-2024 estimated - Roche and Abbott Battle for #1 Spot (%) (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Dexcom, Exact Sciences, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific)
- Table Comparison of Total Diagnostic Sales for Abbott vs Roche, 2022-2024 ($ million)
- Q3 M&A Activity
- Table Q3 2024 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
- Dexcom, Inc
- Table Dexcom Corporate Summary
- Exact Sciences
- Table Exact Sciences 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
- AI in Liquid Biopsy
- Table Selected AI/Liquid Biopsy Initiatives
- Antimicrobial Resistance
- Single Molecule Analyzer
- New Guidance for Lipid Panels
- Telehealth
- AI in Liquid Biopsy
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