In Vitro Diagnostics Market To Reach $101.58 Billion By 2030


Posted June 12, 2024 by rajesh24

 Technological advancements in terms of portability, accuracy, and cost-effectiveness are projected to be one of the high-impact rendering drivers.

 
June 2024 | Report Format: Electronic (PDF)


In Vitro Diagnostic Market Growth & Trends

The global in vitro diagnostics market size is expected to reach USD 101.58 billion by 2030, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 4.4% over the forecast period driven by the increasing geriatric population, COVID-19 pandemic, and technological advancements in diagnostics that are supporting its adoption.Technological advancements were further accelerated by the launch of COVID-19 IVD diagnostics and enhanced the adoption of instruments and consumables for technologies, such as PCR. Competitors in the market are increasingly adopting agreement and partnership strategies to maintain a constant flow of business for manufacturers & diagnostics for users.

These agreements are also a result of the harsh price containment strategies for government laboratories, which lowers the price in government settings. For instance, in April 2021, the Italian subsidiary of Seegene, Inc. received a USD 108.25 million tenders for public procurement for the supply of extraction reagents, as well as 7.15 million SARS-CoV-2 diagnostic tests. However, it increases the multiparty nature and complexity of the supply chain. The high prevalence of cancer and Cardiovascular Diseases (CVDs) globally is anticipated to drive diagnostic innovation to facilitate early diagnosis and meet the constantly evolving needs of consumers. Novel technologies, such as plasmonic PCR, are anticipated to commercially enter the market during the forecast period, influencing the business of existing products adversely.

 Request a free sample copy or view the report summary: In Vitro Diagnostics Market Report

In Vitro Diagnostics Market Report Highlights

Molecular diagnostics is anticipated to grow at the fastest CAGR from 2024 to 2030 owing to the rising adoption and usage rate

Reagents held the largest market share owing to the surge in demand for genetic testing and enhanced availability of technologically advanced diagnostic tests in lower and middle-income countries with unmet clinical needs

The infectious diseases application segment held the largest market share owing to the large volume of testing for infectious diseases globally

North America dominated the global market in 2023 owing to the high demand for novel technologies, a large pool of key players, high prevalence of diseases, and advanced healthcare infrastructure

In Vitro Diagnostics Market Segmentation

Grand View Research has segmented the global in vitro diagnostics (IVD) market report based on product, technology, application, end-use, test location, and region:

IVD Product Outlook (Revenue, USD Million, 2018 - 2030)

Instruments

Reagents

Services

IVD Technology Outlook (Revenue, USD Million, 2018 - 2030)

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

IVD Application Outlook (Revenue, USD Million, 2018 - 2030)

Infectious Diseases

Diabetes

Oncology

Cardiology

Nephrology

Autoimmune Diseases

Drug Testing

Others

IVD Test Location Outlook (Revenue, USD Million, 2018 - 2030)

Point of Care

Home-care

Others

IVD End-use Outlook (Revenue, USD Million, 2018 - 2030)

Hospitals

Laboratory

Home-care

Others

IVD Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

Russia

Denmark

Sweden

Norway

Asia Pacific

Japan

China

India

South Korea

Australia

Thailand

Singapore

Latin America

Brazil

Mexico

Argentina

Middle East and Africa (MEA)

South Africa

Saudi Arabia

UAE

Kuwait

List of Key Players of In Vitro Diagnostics (IVD) Market

Abbott

bioMérieux SA

QuidelOrtho Corporation

Siemens Healthineers AG

Bio-Rad Laboratories, Inc.

Qiagen

Sysmex Corporation

Charles River Laboratories

Quest Diagnostics Incorporated

Agilent Technologies, Inc.

Danaher Corporation

BD

F. Hoffmann-La Roche Ltd.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Grand View Research
Country United States
Categories Business , Health
Tags in vitro diagnostics market , in vitro diagnostics
Last Updated June 12, 2024