The global in vitro diagnostics (IVD) market was valued at $98.3 billion in 2021 and is anticipated to reach $113.2 billion by the end of 2028. The market is projected to grow with a healthy CAGR of 2.9% during the forecast period.
The global in vitro diagnostics (IVD) market was valued at $98.3 billion in 2021 and is anticipated to reach $113.2 billion by the end of 2028. The market is projected to grow with a healthy CAGR of 2.9% during the forecast period. The report is a comprehensive study of market definition, growth drivers, opportunities, and challenges. It offers both quantitative and qualitative insights into the global market dynamics.
In vitro diagnostic refers to the medical devices that need the help of reagents and assays to diagnose a medical condition. However, these instruments analyze the tissue samples and body fluids collected from patients. These diagnostic systems are widely adopted to execute different in-vitro tests on targeted samples. These are used to diagnose different health conditions like cancer and diabetes. They also monitor different infectious and autoimmune diseases.
The outbreak of the Covid-19 pandemic has positively impacted the growth of the global in vitro diagnostics (IVD) market. Due to the severely growing cases of coronavirus, there was high demand for immunodiagnostics and molecular testing, which led to an increase in the sales of these diagnostic kits. There was a significant spike in the volume of point of care testing during the pandemic owing to its capability to do a faster on-site screening. During the pandemic period, several new startups emerged in the market due to the growing scope of in vitro diagnostic kits. On the contrary, the pandemic has also decreased the demand for in-vitro diagnoses used in autoimmune, nephrology, oncology, and cardiology disorders. This footfall in clinics and healthcare centers led to the decline in the global market. However, with the mixed impact of the Covid-19 on the global market, the market is likely to witness strong growth prospects in the forthcoming years in the global market.
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 & clinical chemistry and is now extending to other spaces also. Point-of-care devices over conventional procedures offer ease of use affordability and yield rapid results that are high in demand for initiating quick decision making. However, the high adoption rate of POC devices is largely impacted by the need to make the healthcare system more patient-centric. Centralized testing does not offer a convenient process in respect of patients as the testing process is not connected with consultations calls. However, it poses a huge drawback for patients with chronic diseases like diabetes that need constant monitoring. Apart from this, the world is witnessing growing incidences of chronic diseases. 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 vitro diagnostics (IVD) market. People became more aware of the availability of advanced novel IVD products.
In-vitro diagnostics are quite expensive when compared to other available technology. It also requires constant maintenance of instruments which is further likely to hamper the growth of the global market. Additionally, such instruments also need skilled professionals to operate, thereby limiting its growth.
Medical device companies are constantly increasing their research and development capabilities to innovate technologically advanced diagnostic devices. Hospitals and laboratories have shown high interest in the point of care testing devices to collect precise real-time data. Such an increase in interest in point-of-care testing devices is due to the constantly growing burden of diseases on healthcare infrastructure, which requires advanced results in a short period of time. Therefore, such a landscape is likely to offer ample impetus to the growth of the global market in the forthcoming years.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Unfavorable reimbursement landscape is a huge challenge in the global market.
The lack of a proper financing system will hamper the growth of the global market. Advanced treatment is quite expensive, and therefore it restricts people from undergoing treatment through in vitro diagnostics, thereby posing a huge challenge in the global market.
The global in vitro diagnostics (IVD) market can be segmented into product & service, technique, and region.
By product & service, the market can be segmented into software & services, instrument, and reagents.
By technique, the market can be segmented into clinical chemistry, tissue diagnostics, molecular diagnostics, hematology, and immunodiagnostics.
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. Additionally, the efficient reimbursement policies implemented by the government will further encourage people to adopt such advanced technology to undergo a complete treatment for different diseases, which in turn will accentuate the growth of the regional market.
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.
List of Figures
1. Market research process
2. Market research methodology
3. Global In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
4. Porter’s five forces analysis: In-Vitro Cancer Diagnostics market
5. Global In-Vitro Cancer Diagnostics market attractiveness, by Product
6. Global In-Vitro Cancer Diagnostics market attractiveness, by Technology
7. Global In-Vitro Cancer Diagnostics market attractiveness, by Application
8. Global In-Vitro Cancer Diagnostics market revenue share, by Product, 2019 and 2026
9. Global In-Vitro Cancer Diagnostics market by Instruments, 2016-2026 (USD Million)
10. Global In-Vitro Cancer Diagnostics market by Reagents and Kits, 2016-2026 (USD Million)
11. Global In-Vitro Cancer Diagnostics market by Data Management System/Software, 2016-2026 (USD Million)
12. Global In-Vitro Cancer Diagnostics market by Services, 2016-2026 (USD Million)
13. Global In-Vitro Cancer Diagnostics market revenue share, by Technology, 2019 and 2026
14. Global In-Vitro Cancer Diagnostics market by Clinical Chemistry, 2016-2026 (USD Million)
15. Global In-Vitro Cancer Diagnostics market by Immunochemistry/Immunoassays, 2016-2026 (USD Million)
16. Global In-Vitro Cancer Diagnostics market by Hematology, 2016-2026 (USD Million)
17. Global In-Vitro Cancer Diagnostics market by Coagulation and Hemostasis, 2016-2026 (USD Million)
18. Global In-Vitro Cancer Diagnostics market by Microbiology, 2016-2026 (USD Million)
19. Global In-Vitro Cancer Diagnostics market by Molecular Diagnostics, 2016-2026 (USD Million)
20. Global In-Vitro Cancer Diagnostics market by Other IVD Technologies, 2016-2026 (USD Million)
21. Global In-Vitro Cancer Diagnostics market revenue share, by Application, 2019 and 2026
22. Global In-Vitro Cancer Diagnostics market by Laboratories, 2016-2026 (USD Million)
23. Global In-Vitro Cancer Diagnostics market by Hospitals, 2016-2026 (USD Million)
24. Global In-Vitro Cancer Diagnostics market by Academic Institutes, 2016-2026 (USD Million)
25. Global In-Vitro Cancer Diagnostics market by Point-of-care Testing, 2016-2026 (USD Million)
26. Global In-Vitro Cancer Diagnostics market by Patient Self-testing, 2016-2026 (USD Million)
27. Global In-Vitro Cancer Diagnostics market by Other End Users, 2016-2026 (USD Million)
28. Global In-Vitro Cancer Diagnostics market revenue share, by region, 2018 & 2025
29. North America In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
30. Europe In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
31. Asia Pacific In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
32. Latin America In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
33. Middle East & Africa In-Vitro Cancer Diagnostics market, 2016-2026 (USD Million)
List of Tables
1. Global In-Vitro Cancer Diagnostics market: snapshot
2. Drivers for In-Vitro Cancer Diagnostics market: impact analysis
3. Restraints for In-Vitro Cancer Diagnostics market: impact analysis
4. North America In-Vitro Cancer Diagnostics market revenue, by country, 2016-2026 (USD Million)
5. North America In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
6. North America In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
7. North America In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
8. The U.S. In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
9. The U.S. In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
10. The U.S. In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
11. Rest of North America In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
12. Rest of North America In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
13. Rest of North America In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
14. Europe In-Vitro Cancer Diagnostics market revenue, by country, 2016-2026 (USD Million)
15. Europe In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
16. Europe In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
17. Europe In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
18. U.K. In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
19. U.K. In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
20. U.K. In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
21. France In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
22. France In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
23. France In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
24. Germany In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
25. Germany In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
26. Germany In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
27. Rest of Europe In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
28. Rest of Europe In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
29. Rest of Europe In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
30. Asia Pacific In-Vitro Cancer Diagnostics market revenue, by country, 2016-2026 (USD Million)
31. Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
32. Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
33. Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
34. China In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
35. China In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
36. China In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
37. Japan In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
38. Japan In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
39. Japan In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
40. India In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
41. India In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
42. India In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
43. Rest of Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
44. Rest of Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
45. Rest of Asia Pacific In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
46. Latin America In-Vitro Cancer Diagnostics market revenue, by country, 2016-2026 (USD Million)
47. Latin America In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
48. Latin America In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
49. Latin America In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
50. Brazil In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
51. Brazil In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
52. Brazil In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
53. Rest of Latin America In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
54. Rest of Latin America In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
55. Rest of Latin America In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
56. Middle East & Africa In-Vitro Cancer Diagnostics market revenue, by Product, 2016-2026 (USD Million)
57. Middle East & Africa In-Vitro Cancer Diagnostics market revenue, by Technology, 2016-2026 (USD Million)
58. Middle East & Africa In-Vitro Cancer Diagnostics market revenue, by Application, 2016-2026 (USD Million)
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 $113.2 billion by the end of 2028. 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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