The global In-Vitro Diagnostics (IVD) market size is expected to reach USD 118.44 Billion at a steady revenue CAGR of 4.4% in 2028, according to latest analysis by Emergen Research. In-vitro diagnostics market revenue growth is due to increased investment in research & development in genomics and proteomics, and rising prevalence of targeted diseases.
Rapid increase in geriatric population globally, rising prevalence of sedentary lifestyle-related diseases and conditions, and rise in infectious diseases rates are other factors driving revenue growth of the global market. Increase in prevalence of targeted diseases such as gastrointestinal diseases, diabetes, cardiac disorders, and cancer, is also contributing positively to global in-vitro diagnostic market revenue growth. According to International Diabetes Federation (IDF), 463 million people suffer from diabetes globally. Just over 1 in 10 Americans have diabetes and continuous increase in this number is driving demand for IVD products for rapid testing.
Rising need for surgical procedures is expected to fuel market growth. Increased awareness about personalized medicine and adoption of point-of-care testing is also contributing to in-vitro diagnostics market growth. However, stringent regulatory framework and unfavorable reimbursement policy could negatively impact market growth. Moreover, shortage of skilled professionals to perform diagnostic tests effectively and lack of training programs are hampering adoption of in-vitro diagnostics products.
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Advancements in technology has led to increased availability of over-the-counter tests for better treatment. This adds significant value to medical diagnosis and treatment processes, thus improving service and patient experience. Another factor driving market growth is development of Next Generation Sequencing (NGS). NGS along with data analysis algorithms allow researchers and clinicians to uncover cancer pathways, hidden aspects of antibiotic resistance, and rare chronic diseases. It also offers speed and accuracy and reduces time to diagnosis.
IVD aims to offer smaller, faster and more cost-effective tools to allow precise diagnosis and point of care testing. IVD is increasingly being used for cancer diagnosis and treatment and an exciting breakthrough is liquid biopsy. Research are being conducted to develop sequencing technologies to meet clinical needs for digital polymerase chain reaction (PCR) and multi-gene testing. Together with mass spectrometry and microfluidic device, these developments allow personalized disease management. Mass spectrometry enable testing of thousands of indicators in a short time in a single test and is considered as the future of diagnostics.
The major companies Covered in the report are:
Siemens Healthineers, Roche Diagnostics, Danaher Corporation, bioMérieux, Abbott Laboratories, DiaSorin, Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, QIAGEN, and Sysmex Corporation
Highlights of Global In-Vitro Diagnostics Market Report
- Examines the In-Vitro Diagnostics industry prospects and quickly compares historical, current, and projected market figures.
- This report examines growth constraints, market drivers and challenges, and current and prospective development prospects.
- Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.
- Describes the expansion of the global high purity isobutylene market across various industries and geographies. This allows players to concentrate their efforts on regional markets with the potential for rapid growth shortly.
- Discuss the global, regional, and national ramifications of COVID-19.
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The report comprises an exhaustive overview of the In-Vitro Diagnostics market, focusing on its leading players and their lucrative business expansion initiatives. It provides the reader with essential conclusive data and information concerning the In-Vitro Diagnostics market’s growth, assessed on both regional and global levels. Hence, the sample copy of the ‘Global In-Vitro Diagnostics Market’ research report is inclusive of a brief analysis of the In-Vitro Diagnostics industry, the competitive landscape, regional overview, technological innovation, and future market developments, which are based on a practical research methodology.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2018–2028)
- Reagents & Kits
- Instruments
- Fully Automated Instruments
- Semi-Automated Instruments
- Data Management Software
- Services
- Devices Outlook (Revenue, USD Billion; 2018–2028)
- Reusable IVD Devices
- Disposable IVD Devices
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Cancer
- Infectious Diseases
- Diabetes
- Gastrointestinal Disease
- Autoimmune Diseases
- Cardiac Disease
- Drug Testing /Pharmacogenomics
- HIV/AIDS
- Nephrological Disease
- Others
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The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
Geographical Scenario:
The global In-Vitro Diagnostics market has been categorized into several important geographical regions. In this section, authors of the report have studied the presence of the global In-Vitro Diagnostics market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Contents:
Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.
Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
Breakdown by Product and Application: This section provides details about market size by product and application.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
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