Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 98.3 Billion | USD 117.4 Billion | 2.9% | 2021 |
FrequentlyAsked Questions
The traditional model of laboratory testing all across the globe was a centralized laboratory that utilized automatic analytical testing techniques to detect the target. However, this one was well established in metallurgy discipline and clinical chemistry and is now extending to other spaces also. Parallelly, there is a rise in awareness among people regarding the early diagnosis and proper treatment, which in turn is further expanding the scope of the global in (IVD) market.
The global in vitro diagnostics (IVD) market was valued at $98.3 billion in 2021 and is anticipated to reach $117.4 billion by the end of 2030. The market is projected to grow with a healthy CAGR of 2.9% during the forecast period.
Some of the significant players in the global in vitro diagnostics (IVD) market include QIAGEN N.V., Ortho Clinical Diagnostics, DiaSorin, bioMérieux, Sysmex Corporation, Bio-Rad Laboratories, Becton, Dickinson and Company, Johnson & Johnson, Thermo Fisher Scientific, Danaher Corporation, Siemens Healthineers, and Roche Diagnostics.
North America accounts for the largest share in the global in vitro diagnostics (IVD) market due to the presence of a robust healthcare system in the region. Furthermore, the high awareness among people in the region regarding the presence of such advanced novel technology is likely to boost the growth of the regional market.
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