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In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product, By Test Location, By End-use, By Application, By Technology And Segment Forecasts From 2022 To 2030

Report ID: MN17613529  |  Published: October 2022  |  No of Pages: 200
Format: Electronic (PDF)  |  Industry: Healthcare

The global in vitro diagnostics (IVD) market size is expected to be worth USD 113.38 billion by 2030, advancing at a CAGR of 0.2% during the projected period. The rising global geriatric population and the numerous technological strides made in the diagnostics space over the past few years are expected to keep the industry afloat in the coming years. Furthermore, the COVID-19 pandemic that has kept the healthcare sector on its toes since early 2020 has also proven to be an enabler for market growth. Companies involved in the IVD sector have taken notice of the needs and requirements of end-users such as hospitals and laboratories, among others, thus improving competitiveness and advancing the market.

IVD involves the utilization of consumables and medical devices for performing in-vitro tests on different types of biological samples. These instruments are widely utilized in the diagnosis of various medical disorders, including cancer and diabetes. The high prevalence of these diseases, among several others, has led to the medical sector searching for ways to make detection and screening as efficient and accurate as possible, leading to frequent advancements in this sector. As per the CDC, in the United States, over 18 million people aged 20 years or more suffered from coronary artery disease, as of 2021, with heart disease being the leading cause of mortality in the country. In recent years, the European Union has funded the AGLYC project, which involves the development of a diagnostic test that detects cardiac ischemia. Such initiatives are expected to propel the growth of the IVD industry.

The market has been classified on the basis of technology, application, product, end-use, location of the test, and region. With regard to technology, the industry has been segmented into immunoassay, molecular diagnostics, hematology, microbiology, clinical chemistry, and coagulation, among others. Major end-use areas of IVD tests include hospitals, home care, and laboratories, of which the laboratory segment led the industry in 2021, aided by the rising awareness regarding personalized medicines, and growing demand for affordable services. IVD test locations include mainly the point-of-care and home care segments, of which there has been significant demand for point-of-care tests, as they offer faster results that aid in better decision-making by authorities.

Companies involved in the in vitro diagnostics market have generally resorted to the conventional strategies of partnerships, mergers & acquisitions, as well as enhancing their geographical reach by introducing compliant products and services by region. The COVID-19 pandemic has helped in highlighting the necessity of in vitro diagnostic tests, as a means to detect the COVID-19-positive population at a rapid pace. Besides isolation, testing has been considered the most crucial aspect in controlling the spread of the virus, and many organizations have been very prompt in launching their test kits to address the overwhelming demand. The post-pandemic period is expected to keep the industry growth steady, as concepts such as digital pathology and remote sample collection show further proliferation. 

In Vitro Diagnostics Market Report Key Takeaways

  • With regards to the technology being used, the molecular diagnostics segment is expected to progress at the fastest rate through 2030 in the overall market, aided by its rising adoption and usage rate
  • On the basis of product, the reagents segment held the largest market share of over 65% in 2021, aided by the constantly rising demand for genetic testing, coupled with the improving availability of advanced diagnostic tests in low- and middle-income economies that have large unmet clinical needs
  • In terms of application, the infectious diseases segment dominated the market with over 59% share in 2021, since IVDs are widely utilized for detecting micro-organisms that can lead to such diseases. Additionally, major market players are focusing their investments and efforts on applying their knowledge in this space
  • North America held the dominant share in the industry in 2021 with a 42% revenue share. The widespread presence of major industry players, a large target population base in the region, and a slew of supportive government policies have ensured that the development of the regional industry remains strong
  • The industry is being defined by the launch of innovative and technologically advanced products by companies, which means that competitiveness remains high. The advent of the COVID-19 pandemic has further helped in ensuring that the industry sees expansion strategies by way of mergers and acquisitions, partnerships, and geographical expansions, from these companies
  • Agilent Technologies, a leading name in the market, announced in June 2022 the launch of IVD-compliant kits, reagents, and instruments that follow the new EU IVDR regulation 


In Vitro Diagnostics Market Segments 

  • IVD Product Outlook (Number of Instruments Installed in Thousands, Number of Reagents Sold in Millions; Revenue, USD Million, 2018 - 2030)
    • Instruments
    • Reagents
    • Services
  • IVD Technology Outlook (Number of Instruments Installed in Thousands, Number of Reagents Sold in Millions; 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 Disease
    • Diabetes
    • Oncology
    • Cardiology
    • Nephrology
    • Autoimmune Disease
    • Drug Testing
    • Others
  • IVD End-use Outlook (Number of Instruments Installed in Thousands, Number of Reagents Sold in Millions; Revenue, USD Million, 2018 - 2030)
    • Hospitals
    • Laboratories
    • Home Care
    • Others
  • IVD Test Location Outlook (Revenue, USD Million, 2018 - 2030)
    • Point of Care
    • Home Care
    • Others
  • IVD Regional Outlook (Number of Instruments Installed in Thousands, Number of Reagents Sold in Millions; Revenue, USD Million, 2018 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Spain
      • France
      • Italy
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Singapore
      • Australia
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East and Africa (MEA)
      • South Africa
      • UAE
      • Saudi Arabia 
  • List of Key Players in the In Vitro Diagnostics Market
    • Abbott
    • Bio-Rad Laboratories, Inc.
    • Quest Diagnostics
    • bioMérieux SA
    • QIAGEN
    • Sysmex Corp.
    • Agilent Technologies
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