Global In Vitro Diagnostics IVD Kits Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global In Vitro Diagnostics IVD Kits Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

In vitro diagnostics (IVD) are tests done on samples such as blood or tissue that have been taken from the human body. In vitro diagnostics can detect diseases or other conditions, and can be used to monitor a person’s overall health to help cure, treat, or prevent diseases. In vitro diagnostic (IVD) test kit consists of materials used to determine the outcome of a given test. This report studies the global In Vitro Diagnostics IVD Kits market.

Market Overview:

The latest research study on the global In Vitro Diagnostics IVD Kits market finds that the global In Vitro Diagnostics IVD Kits market reached a value of USD 79238.3 million in 2022. It’s expected that the market will achieve USD 91678.8 million by 2028, exhibiting a CAGR of 2.46% during the forecast period.

Rise in the demand for Point of Care Testing (POCT)

In the past, IVD technology was only used in clinical laboratories. Most clinical chemistry, immunochemistry, and hematology tests are still performed using high-throughput instruments with sophisticated automation. However, point-of-care testing is evolving to meet the need for rapid identification of chronic and infectious diseases near the patient's location. The main players work to develop instruments that are fast, small, transportable, portable, and easy to operate for use outside the laboratory environment. The COVID-19 pandemic has highlighted the need to strengthen local health services. This need is expected to enhance the delocalization of the diagnostic offer including auto-diagnostic and home-diagnostic.

Competition in the industry is fierce

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The In Vitro Diagnostics IVD Kits industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Fluctuation of raw material prices

The main raw materials of In Vitro Diagnostics IVD Kits include antibodies, antigens, enzymes, etc. The cost of raw materials accounts for a large proportion of the total cost. The fluctuation of raw material price will directly affect the cost of raw materials. The price of raw materials rises, and the cost of enterprises increases. The price of raw materials decreases, and the cost of enterprises decreases. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends. Generally speaking, this will be a fluctuating state.

Region Overview:

In 2022, the share of the In Vitro Diagnostics IVD Kits market in North America stood at 46.38%.

Company Overview:

Roche Diagnostics is one of the major players operating in the In Vitro Diagnostics IVD Kits market, holding a share of 15.37% in 2023.

Roche Diagnostics

Roche, is a Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Its holding company, Roche Holding AG, has shares listed on the SIX Swiss Exchange. The company headquarters are located in Basel. The company controls the American biotechnology company Genentech, which is a wholly owned affiliate, and the Japanese biotechnology company Chugai Pharmaceuticals, as well as the United States-based companies Ventana and Foundation Medicine.

Abbott Laboratories

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Abbott portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritional and branded generic medicines.

Segmentation Overview:

As for product types, the Blood segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Infectious Diseases, with a market share of 61.45% in 2022.

Key Companies in the global In Vitro Diagnostics IVD Kits market covered in Chapter 3:

Mindray
Bio-Rad Laboratories
BioSino Bio-technology
Merck Millipore
Illumina
Thermo Fisher Scientific
Ortho Clinical Diagnostics
ICON plc
Creative Diagnostics
Sysmex Corporation
Biomerieux
Danaher Corporation
Abbott Laboratories
Shanghai Kehua Bio-engineering
Roche Diagnostics
Siemens Healthineers
Luminex Corporation
DAAN Gene
Becton Dickinson
Beijing Leadman Biochemistry

In Chapter 4 and Chapter 14.2, on the basis of types, the In Vitro Diagnostics IVD Kits market from 2018 to 2029 is primarily split into:

Blood
Urine
Stool
Tissue Cells
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the In Vitro Diagnostics IVD Kits market from 2018 to 2029 covers:

Infectious Diseases
Diabetes
Cardiology
Oncology
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)