In Vitro Diagnostics Market (By Product Type: Reagents, Instruments, Services; By Technology: Hematology, Molecular Diagnostics, Immunology, Coagulation, Clinical Chemistry, Microbiology, Others; By Application: Diabetes, Cardiology, Nephrology, Infectious Disease, Oncology, Drug Testing, Autoimmune Diseases, Others; By End Use: Laboratory, Hospital, Home Care, Others) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2022 - 2030


The global In Vitro Diagnostics (IVD) market size was valued US$ 81.5 billion in 2021 and is expected to reach around US$ 125.78 billion by 2030 with a registered CAGR of 4.94% from 2022 to 2030.

North America In Vitro Diagnostics Market Size 2020-2027

Key Takeaway

  • By product, the reagents segment held revenue share 65.5% in 2021.
  • By application, the molecular diagnostics segment accounted highest revenue share 38% in 2021.
  • By end-uses, the laboratory segment hit 40% revenue share in 2021%.
  • By test location, the point-of-care segment accounted market share of over 21% in 2021.
  • By application, the infectious disease segment has garnered revenue share of over 59.50% in 2021.
  • North America region dominated the market with revenue share of 42.5% in 2021.

In recent years, in vitro diagnostics industry has recognized significant developments. Rising geriatric population, prevalence of infectious as well as chronic diseases and existence of automated in vitro diagnosis systems for hospitals to offer precise diagnosis are some of the factors are expected to propel the growth of the market. As per the data published by United Nations, around 900 million populations across globe are above age 60 years. Furthermore, World Health Organization declared that, by 2020, the number children younger than 5 years will be lesser than that of people above 60 years. Thus, growing elderly population and subsequent demand for immunoassay-based tests flourishes the market growth. Additionally, increased government funding and other healthcare organizations investment into in vitro diagnostics market is the key drivers to boost market growth over the forecast period. Growing consciousness on personalized medicines and increasing acceptance of point-of-care testing are also high impact rendering market drivers.

Furthermore, growth of condition specific tests, increasing importance of companion diagnostics as well as emerging economies are anticipated to show growth opportunities for players operating in the market. Enhanced and well-organized diagnostic tools, technological advancement in healthcare and surge in the over the counter tests is projected to witness growth in the in vitro diagnostics market. However, high cost involved into in vitro diagnostics services may hamper the industry growth over the forecast period.

Also, rigorous government regulations and adverse reimbursement policies are expected to hinder the growth to some extent. Furthermore, IVDS’s have been under growing cost pressure over the last decade owing to increasing use and concerns about ungovernable health expenses. Nonetheless, surging demand for IVD products from the developing nations offers lucrative growth prospects to the market.

North America In Vitro Diagnostics Market Revenue (USD Billion) Comparison by Technology (2016-2027)

Technology 2016 2019 2027 CAGR %
Immunoassay 5.980 6.813 12.246 5.25%
Hematology 3.189 3.733 7.213 6.21%
Clinical Chemistry 4.995 5.478 8.895 3.92%
Molecular Diagnostics 2.514 2.756 4.468 3.90%
Others 4.136 4.594 7.609 4.16%
Total 20.814 23.374 40.430 4.75%

 

Product Insights

Based on the product type the market has been classified into the reagent, instruments and services. The reagent segment dominated the market in 2020 as reagents are indispensible part of every in vitro diagnostics test. Rising demand for point-of-care tests and self tests and increasing various R&D initiatives are projected to accelerate the growth of this segment.

In Vitro Diagnostics Market Share, By Product, 2020 (%)

Additionally, focus of market players in launching technologically advance instruments are anticipated to create growth opportunities for this segment in near future. For instance, in January 2019, ClearLLbal 10C system was launched by Beckman Coulter, Inc. for clinical flow cytometry lab. In April 2018, the flexible and automatic system a CE-IVD marked AltoStar Molecular diagnostics workflow launched by Altona Diagnostics GmbH which automates entire workflow from sample prepare on till analysis. Furthermore, Instrument segment is projected to grow at fastest compound annual growth rate (CAGR) over the forecast period.

Technology Insights

Based on technology, the in vitro diagnostics market is classified into hematology, molecular diagnostics, immunology, coagulation, clinical chemistry, microbiology and others. Amidst these technologies, immunoassay dominated the global in vitro diagnostics market in 2021 owing to growing adoption of immunoassay based rapid testing and POC testing. Molecular diagnostics is expected to show the fastest growth over the forecast period. Increasing support by regulatory authorities is also supporting the market growth. For example, SOPHiA GENETICS received CE-IVD marking for solid tumor solution which will help to characterize and detects alerted genes in colorectal, skin cancer, lung and brain.

Application Insights

In terms of applications the market is classified into diabetes, cardiology, nephrology, infectious disease, oncology, drug testing, autoimmune disease and others.

In Vitro Diagnostics Market Share, By Application, 2020 (%)

The infectious disease segment is anticipated to dominate the market over the forecast period owing to growing incidences of Hepatitis, Pneumonia, HIV-AIDS, tuberculosis and others. Key players are developing innovative diagnostics system in order to resist increasing incidences infectious diseases. In May, 2019 Roche Diagnostics launched Cobas MTB-RIF/INH that helps clinician in accelerating tuberculosis diagnostics. Availability of automated in vitro diagnostics assay and increasing prevalence of cancer drives the growth of oncology segment. For instance, in November, 2018 Roche Diagnostics launched Ventana pan-TRK (ERP17341) assay, an automated in vitro diagnostics immunohistochemistry assay to detect tropomyosin receptor kinase proteins in cancer.

Regional Insights

North America is estimated to top the global market throughout the estimated time period due to high-rise in healthcare awareness among population and its well penetrated healthcare system. In addition, easy accessibility of devices, increasing awareness about usage of these products and existence of huge number of residents suffering from numerous chronic diseases also drives the growth of the market. Furthermore, presence of various key market players in America is likely to enhance the growth of the market in the region.

In Vitro Diagnostics Market Share, By Region, 2020 (%)

Asia Pacific is projected to witness fastest CAGR in the in vitro diagnostics market over the forecast period. The growth in Asia Pacific has been attributed to the increasing healthcare spending and growing prevalence of diabetes in the region.

Key Companies & Market Share Insights

Existence of research organizations that offer clinical research, consulting services, and laboratory testing to cater the swelling demand for rapid diagnosis and treatment plans is likely to fuel the IVD market. The key players focus on strategies such as acquisitions, mergers, collaboration sand development of technologically advanced products in order to gain the competitive edge in the market. The major key players in the in vitro diagnostics market include:

  • Alere, Inc.
  • Hoffmann-La Roche Ltd.
  • Arkray
  • Beckman Coulter
  • Becton Disckinson
  • Bio-Rad laboratories
  • Danaher
  • Sysmex Corporation
  • Abbott Laboratories

Scope of the In Vitro Diagnostics Market Report

Report Coverage Details
Market Size USD 125.78 Billion by 2030
Growth Rate CAGR of 4.94% from 2022 to 2030
Base Year 2020
Historic Data 2017 to 2021
Forecast Period 2022 to 2030
Segments Covered Product, Technology, Application
Regional Scope North America, APAC, Europe, Latin America, MEAN, Rest of the World
Companies Mentioned Alere, Inc., Hoffmann-La Roche Ltd., Arkray, Beckman Coulter, Becton Disckinson, Bio-Rad laboratories, Danaher, Sysmex Corporation, Abbott Laboratories

 

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it based on product, application, technology and region as follows:

In Vitro Diagnostics Market Segmentation

By Product

  • Reagents
  • Instruments
  • Services

By Test Location

  • Point of Care
  • Home Care
  • Others

By Technology

  • Immunoassay

    • Instruments

    • Reagents

    • Services

  • Hematology

    • Instruments

    • Reagents

    • Services

  • Clinical Chemistry

    • Instruments

    • Reagents

    • Services

  • Molecular Diagnostics

    • Instruments

    • Reagents

    • Services

  • Coagulation

    • Instruments

    • Reagents

    • Services

  • Microbiology

    • Instruments

    • Reagents

    • Services

  • Others

    • Instruments

    • Reagents

    • Services

By Application

  • Diabetes
  • Cardiology
  • Nephrology
  • Infectious Disease
  • Oncology
  • Drug Testing
  • Autoimmune Diseases
  • Others

By End User

  • Standalone Laboratories
  • Hospitals
  • Academic & Medical Schools
  • Point-of-Care
  • Others

By Regional

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Middle East & Africa
  • Latin America

Frequently Asked Questions

What is the current size of In Vitro Diagnostics (IVD) market?
According to Precedence Research, the global In Vitro Diagnostics (IVD) market was registered revenue around US$ 81.5 billion in 2021 and is expected to reach US$ 125.78 billion by 2030.
The global In Vitro Diagnostics (IVD) market is exhibiting a compound annual growth rate (CAGR) of around 4.94% from 2022 to 2030.
In recent years, in vitro diagnostics industry has recognized significant developments. Rising geriatric population, prevalence of infectious as well as chronic diseases and existence of automated in vitro diagnosis systems for hospitals to offer precise diagnosis are some of the factors are expected to propel the growth of the market. Thus, growing elderly population and subsequent demand for immunoassay-based tests flourishes the market growth. Additionally, increased government funding and other healthcare organizations investment into in vitro diagnostics market is the key drivers to boost market growth over the forecast period. Growing consciousness on personalized medicines and increasing acceptance of point-of-care testing are also high impact rendering market drivers.
The reagent segment dominated the market in 2021 as reagents are indispensible part of every in vitro diagnostics test. Rising demand for point-of-care tests and self tests and increasing various R&D initiatives are projected to accelerate the growth of this segment.
North America is estimated to top the global market throughout the estimated time period due to high-rise in healthcare awareness among population and its well penetrated healthcare system.
Asia Pacific is projected to witness fastest CAGR in the in vitro diagnostics market over the forecast period. The growth in Asia Pacific has been attributed to the increasing healthcare spending and growing prevalence of diabetes in the region.
The immunoassay dominated the global in vitro diagnostics market in 2021 owing to growing adoption of immunoassay based rapid testing and POC testing.
  • Report Code:1130
  • Category:Healthcare
  • No. of Pages:150+
  • Format:PDF/PPT/Excel
  • Status:Published

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