Lab Automation for In-Vitro Diagnostics (IVD) Market Forecasts to 2030 – Global Analysis By Product (Reagents and Consumables, Instruments, Services and Other Products), Technology (Cell-based Lab Automation for In-Vitro Diagnostics (IVD) and Bead-based L

Lab Automation for In-Vitro Diagnostics (IVD) Market Forecasts to 2030 – Global Analysis By Product (Reagents and Consumables, Instruments, Services and Other Products), Technology (Cell-based Lab Automation for In-Vitro Diagnostics (IVD) and Bead-based Lab Automation for In-Vitro Diagnostics (IVD)), Application, End User and By Geography

According to Stratistics MRC, the Global Lab Automation for In-Vitro Diagnostics (IVD) Market is accounted for $123.44 billion in 2023 and is expected to reach $193.09 billion by 2030 growing at a CAGR of 6.6% during the forecast period. Lab Automation In-Vitro Diagnostics (IVD) include reagents, instruments, software used to evaluate specimens such as blood, urine, stool, tissues, and other bodily fluids obtained from the human body to diagnose diseases, conditions, and infections. Furthermore, there are several types of IVD devices that use diverse approaches such as immunodiagnostics, tissue diagnostics, haematological, and molecular diagnostics. The application and management of IVD market needs expertise technical skill.

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Market Dynamics

Driver

Growing awareness of early disease diagnosis in emerging economies

Screening and early identification of the disease depend on people being aware of it and its symptoms. Lack of information, inaccessibility of information, and inaccurate information are all key factors in the rapid spread of diseases. Additionally, as compared to developed nations, the IVD market in developing economies grew relatively more slowly than that in developed nations because of low technology penetration and a weak healthcare infrastructure. Due to the high prevalence of infectious diseases, sizable target populations, and unmet research needs for the development of tailored medicines, nations like China, India, and other Southeast Asian nations exhibit stronger growth potential.

Restraint

Unfavorable reimbursement scenario

Some infectious disease pathology tests are invoiced using unlisted codes since they lack their own Healthcare Common Procedure Coding System (HCPCS) codes. Medicare Administrative Contractors (MACs) determine a payment amount for their local jurisdictions in such circumstances. Similar to the previous example, healthcare systems' growing and new budgetary worries provide significant challenges to the adoption of breakthrough diagnostic methods in clinical laboratories. The US molecular and genetic testing industry is anticipated to suffer as a result of these changes in the reimbursement process, which may impede the expansion of the IVD market.

Opportunity

Growth opportunities in emerging countries

Major IVD market participants should see potential for expansion in emerging economies including India, China, South Korea, Brazil, Mexico, Turkey, Russia, and South Africa. Because there are fewer rules and data requirements in Asia Pacific, it has become a flexible and business-friendly hub. China is currently one of the biggest investors in R&D. Additionally, as the US and European markets develop, many players are turning their attention to emerging regions. For instance, Agilent Technologies (US) invested USD 20 million in 2022 to increase the size of its manufacturing facility in Shanghai in order to accommodate the rising demand for the company's high-end liquid chromatography (LC), spectrometer, and mass spectrometry (MS) systems in China.

Threat

High Cost of Instruments

In-vitro diagnostics products have witnessed significant advancements and developments in the past decade with respect to further design improvements. However, the high costs associated with these instruments and their maintenance hindered the market growth to a certain extent. Additionally, in-vitro diagnostics instruments can be used only by skilled professionals. This also increases the maintenance cost of the devices, which ultimately hampers the overall growth of the market.

Covid-19 Impact

Increased Use of Molecular Diagnostics during COVID-19 Pandemic Positively Impacted Market Growth however, the increased use of molecular diagnostics overcame the negative effect of other segments, leading to a positive impact on the market during the pandemic. Molecular diagnostics techniques were used to diagnose the SARS-CoV-2 virus. Additionally, there was increased demand for test kits and consumables for monitoring blood glucose and troponin levels among hospitalized patients suffering from COVID-19.

The reagents & kits segment is expected to be the largest during the forecast period

The reagents & kits segment held the largest share in the market owing to the increasing demand due to surge in the usage of self-testing kits, POC tests, and several other advanced products in in-vitro diagnosis. The increased number of research & development activities for diagnosing chronic diseases is one of the major factors propelling the demand for reagents & consumables. Furthermore, growing emphasis on early diagnosis in developed and emerging countries is increasing the number of patients undergoing routine tests, contributing to the strong growth of the segment.

The point-of-care segment is expected to have the highest CAGR during the forecast period

During the projection period, the point-of-care segment is expected to have the greatest CAGR. Due to the increased burden of various diseases, medical device manufacturing giants are focusing on introducing innovative and accurate testing kits. Furthermore, companies' launches of COVID-19 POC diagnostic kits have accelerated their revenue growth. Therefore, such novel product launches will significantly augment the growth of POC diagnostics. Additionally, point-of-care testing does not require highly skilled laboratory personnel or equipment. Therefore, it can be deployed in many different settings and on a large scale.

Region with largest share

The North America region market is estimated to witness the highest share of the global Lab Automation for In-Vitro Diagnostics (IVD) market during the forecast period. North America has been a pioneer in clinical research for years. The region also has the highest concentration of contract research organizations (CROs). Some of the significant CROs are Laboratory Corp. of America Holdings, IQVIA, Syneos Health, and Parexel International Corp. Owing to the availability of government funds, stringent FDA regulations, the growing use of molecular diagnostics in genetic disorders and cancer screening, and the presence of most of the major players in this region.

Region with highest CAGR

The Asia Pacific region is expected to have the highest growth rate over the forecast period. Countries in the Asia Pacific region, including China, India, Japan, and South Korea, have been increasing their healthcare spending, focusing on improving healthcare infrastructure and diagnostic capabilities. This increased investment in healthcare has led to the adoption of advanced technologies like lab automation to enhance diagnostic efficiency and accuracy. Additionally, the Asia Pacific region is witnessing a rise in chronic diseases such as cardiovascular diseases, diabetes, and cancer. These conditions require regular diagnostic testing and monitoring. Lab automation helps laboratories handle a large volume of tests efficiently, reducing turnaround time and improving patient care.

Key players in the market

Some of the key players in Lab Automation for In-Vitro Diagnostics (IVD) market include Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Caris Life Sciences Inc., Chembio Diagnostics, Inc., Cognex Corporation, Danaher Corporation, DiaSorin S.p.A., F. Hoffmann-La Roche Ltd, Menarini Silicon Biosystems, PerkinElmer Inc., Quidel Corporation, Roche Holding AG, Siemens Healthineers AG, SpeeDx Pty. Ltd., Surmodics, Inc., Sysmex Corporation and Thermo Fisher Scientific Inc.

Key Developments

In January 2023, FUJIFILM Sonosite, Inc. announced the launch of Sonosite PX ultrasound system in India. This launch was intended to optimize clinician ergonomics and improve efficiency
In July 2022, BioGX announced the launch of CE-marked Point-of-Care (POC) three gene multiplex COVID-19 test on its pixl platform

In March 2022, Roche Diagnostics has launched its new molecular laboratory instrument, in vitro testing diagnostics on the COBAS 5800 System, in the United Kingdom. The new system, with improved automation, can help increase testing volumes, improve operational efficiency, and manage the increasing demand that many laboratories are experiencing

Products Covered
• Reagents & Kits
• Instruments
• Data Management Software
• Other Products

Technologies Covered
• Immunoassay/ Immunochemistry
• Clinical Chemistry
• Hematology
• Molecular Diagnostics
• Microbiology
• Coagulation And Hemostasis
• Urinalysis
• Other Technologies

Applications Covered
• Infectious Diseases
• Diabetes
• Drug Testing/ Pharmacogenomics
• Autoimmune Diseases
• Oncology
• Cardiology
• HIV/AIDS
• Nephrology
• Other Applications

End Users Covered
• Hospital Laboratories
• Point-Of-Care Testing Centers
• Academic Institutes
• Clinical Laboratories
• Patients
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances