Global In Vitro Diagnostics Market is set to increase to about USD 117.4 billion by 2030

The global in vitro diagnostics (IVD) industry size was nearly USD 98.3 billion in 2021 and is set to increase to about USD 117.4 billion by 2030 along with registering a CAGR of about 2.9% from 2022 to 2030.

As per the U.S. FDA, in vitro diagnostics are the tests performed on blood samples that are taken from human bodies. Moreover, in vitro diagnostics help medical practitioners in identifying diseases and other health conditions. Furthermore, in vitro diagnostics has also found slew of applications in precision medicine. Apart from this, in vitro diagnostics tests also include next generation sequencing tests. The World Health Organization (WHO) has defined in vitro diagnostics as tests that are used for identifying disease, disease condition, and infection in patients.

Rapid growth of the global in vitro diagnostics (IVD) industry during the forecast timeline can be attributed to escalating incidences of chronic disorders across the globe, rising geriatric population prone to chronic ailments, and increase in diseases due to changes in lifestyles. Apart from this, an increasing number of infectious diseases, growing awareness about benefits of precision medicine, and massive demand for point-of-care tests has expanded the scope of growth of in vitro diagnostics market across the globe.

However, huge costs of in vitro diagnostics equipment are likely to impede the expansion of the in vitro diagnostics (IVD) business across the globe. Furthermore, unfavorable reimbursement policies and strict regulations governing use of in vitro diagnostics in the healthcare sector can put brakes on the global market in the years ahead. Nevertheless, production of disease-specific biomarkers and tests are projected to produce new growth avenues for the global market.

The global in vitro diagnostics (IVD) market is divided into end-user, technique, product & service, application, and region. 

Based on product & service, the global in vitro diagnostics (IVD) market is divided into instruments, reagents, and software & services. Moreover, the reagents segment is set to dominate the overall market share during the assessment period owing to large-scale use of reagents in determining chronic and genetic disorders.

In terms of technique, global in vitro diagnostics (IVD) industry is sectored into immunodiagnostics, hematology, tissue diagnostics, molecular diagnostics, and clinical chemistry. Moreover, molecular diagnostics segment is predicted to contribute majorly towards the global market share owing to massive use of molecular diagnostics technique in precision medicine. In addition, the molecular diagnostics technique is used for identifying eye-related disorders, neurological diseases, familial cancer syndromes, genetically transmitted cardiovascular ailments, and various other kinds of cancer.

On basis of application, the global in vitro diagnostics (IVD) industry is sectored into infectious disease, diabetes, cardiology, oncology, autoimmune disorders, and drug testing. Moreover, the infectious disease segment is set to lead the growth of the global market in the ensuing years subject to surge in cases of chronic ailments such as HIV, tuberculosis, and pneumonia. However, the oncology segment is anticipated to record the highest CAGR due to increase in demand for POC diagnostics for management of chronic diseases such as cancer.

Based on end-user, the global in vitro diagnostics (IVD) market is divided into hospitals & clinics, laboratories, and homecare units. Furthermore, the hospitals & clinics segment is predicted to dominate the global market over the years ahead. The segmental expansion over the forecast timespan can be credited to rise in the hospital & clinics acquired infections along with massive demand for analytical tests in hospital & clinics.

The North American region is predicted to establish a numero uno position in the global market in the next eight years. The expansion of the in vitro diagnostics (IVD) market in North America can be attributed to rise in healthcare spending in the countries such as Canada and the U.S. Apart from this, presence of giant players in the region will contribute majorly towards the regional market revenue. In addition, supportive government healthcare policies will prompt the expansion of the in vitro diagnostics (IVD) market in North America. Improved healthcare amenities and unmet medical needs of the people will further boost the business trends in the region.

This review is based on a report by Zion Market Research, titled “In Vitro Diagnostics (IVD) Market By Product & Service (Reagents, Instruments, and Software & Services), By Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, and Clinical Chemistry), By Application (Infectious Disease, Diabetes, Cardiology, Oncology, Autoimmune Disorders, and Drug Testing), By End-User (Hospitals & Clinics, Laboratories, and Homecare Units), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/market-analysis/in-vitro-diagnostics-market

Recent Developments:

• In November 2022, Siemens Healthineers AG, a key German medical equipment firm, and Atrium Health, a major player in healthcare industry, joined hands for improving the healthcare infrastructure as well as healthcare services of Atrium. Moreover, the partnership will enhance use of AI systems in healthcare activities, thereby improving healthcare treatment outcomes, patient care services, and healthcare quality along with reducing healthcare costs. In addition, the move will improve in vitro diagnostics services of Siemens.
• In November 2022, Virusight Diagnostic, a combined venture unit of Newsight Imaging Ltd, and Technogenetics srl, a biotech firm, entered a joint MOU (memorandum of understanding) agreement for expanding their strategic partnership. Reportedly, the collaboration is aimed at developing of new diagnostic application for COVID-19 using AI-based technologies and commercializing a 20-second COVID-19 diagnostic test. In August 2022, both the firms launched TGS Velox Ag COVID-19 POCT SALIVA, a COVID-19 in-vitro diagnostic test device with CE marked assay, manufactured by Technogenetics srl. The initiative will provide impetus to in vitro diagnostics industry in Europe as well as across the globe.

Key players participants in the global in vitro diagnostics (IVD) industry include:

• QIAGEN N.V.
• Thermo Fisher Scientific
• Ortho Clinical Diagnostics
• Johnson & Johnson
• DiaSorin
• bioMérieux
• Sysmex Corporation
• Becton
• Dickinson and Company
• Bio-Rad Laboratories
• Siemens Healthineers
• Danaher Corporation
• Roche Diagnostics.

Global in vitro diagnostics (IVD) market is segmented as follows:

By Product & Service

• Reagents
• Instruments
• Software and Services

By Technique

• Immunodiagnostics
• Hematology
• Molecular Diagnostics
• Tissue Diagnostics
• Clinical Chemistry

By Application

• Infectious Disease
• Diabetes
• Cardiology
• Oncology
• Autoimmune Disorders
• Drug Testing

By End-User

• Hospitals & Clinics
• Laboratories
• Homecare Units

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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