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2022
In Vitro Diagnostics Market

In Vitro Diagnostics Market

By Product And Services (Reagents, Instruments, Software And Services), by Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, Others), by Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), by End User (Standalone Laboratories, Hospitals, Academic And Medical Schools, Point Of Care, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

Report Code: A00245
Pages: 374
Mar 2022 | 98892 Views
Author(s) : Shraddha M, Madhuvanti D , Onkar S
Tables: 194
Charts: 17
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Global In-Vitro Diagnostics Market Research, 2030

The global in vitro diagnostics market size was valued at $71,496.16 million in 2020, and is projected to reach $106,914.16 million by 2030, growing at a CAGR of 4.08% from 2021 to 2030. In vitro diagnostics (IVD) include reagents, instruments, software used to evaluate specimens such as blood, urine, stool, tissues, and other bodily fluids obtained from the human body to diagnose diseases, conditions, and infections. Furthermore, there are several types of IVD devices that use diverse approaches such as immunodiagnostics, tissue diagnostics, hematological, and molecular diagnostics. The application and management of IVD market needs expertise technical skill, therefore devices are employed in specialist medical facilities to perform diagnosis.

The global IVD market in 2020 is anticipated to have a positive impact during the COVID-19 pandemic. During the pandemic, there was a large increase in the number of cases of COVID-19 and its diagnosis, as well as an increase in demand for newly developed emergency use permitted IVD tests used for COVID-19 detection, which had a favourable influence on the market.

IVD products, for example, are utilized in facilities such as standalone labs, hospitals, and for point-of-care testing. In vitro testing technique necessitates the use of several reagents as well as the usage of software to ensure seamless operations. Furthermore, in vitro diagnostics are utilized to diagnose a wide range of medical disorders, including infectious diseases, diabetes, oncology/cancer, cardiac diseases, autoimmune diseases, nephrology, and HIV/AIDS.

The growth of the IVD market is majorly driven due to rise in incidences of chronic and infectious diseases. In the current business scenario, there is an increase in incidences of chronic diseases such as tuberculosis (TB), cancer, cardiovascular diseases, and diabetes. In addition, there is a substantial rise in the number of patients suffering from infectious diseases, such as gastrointestinal, respiratory, and STDs (sexually transmitted diseases). The increase in these diseases is expected to increase the demand for diagnostic devices, which drives the IVD market.

In addition, technological advancements such as rapid test kits for IVD industry has expanded at an astounding rate in recent years and is expected to continue in the future. In-vitro diagnostics is applied to various aspects in healthcare. Furthermore, there has been a rise in use of in vitro diagnostic testing across the globe. This is attributed to surge in awareness toward point-of-care testing. For instance, key players are focused on launching new transportable, portable, and handheld instruments, which can be easily used outside laboratory settings. Thus, this leads to rise in demand among healthcare professionals and patients. In addition, high sensitivity and specificity associated with in vitro diagnostic testing also plays a major role toward their adoption. Hence, the factors mentioned above contribute to in vitro diagnostics market growth.

However, unclear reimbursement scenarios and stringent regulatory policies is expected to impede the growth of the market. Conversely, availability of plethora of products under development offers lucrative opportunities for IVD market; hence, is a great opportunity for the key players to invest.

The COVID-19 outbreak is anticipated to have a positive impact on the in vitro diagnostics market, while looking beyond the COVID-19 related diagnostics, there has been a significant decline in tests in the other IVD segments such as clinical chemistry, immunology and hematology across the countries. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Non-essential procedures took a potential backlog due to rapid rise in COVID-19 cases. However, few companies faced a set-back due to lockdown, which has led to a drop in number of IVD tests performed across the globe. However, this deleterious impact is being compensated by the rapid demand for newly launched emergency use authorized IVD tests used for COVID-19 detection. Moreover, rising vaccination rate across the globe is expected to surge the demand for other IVD tests as well.

In Vitro Diagnostics Market Segmentation

The report segments the in vitro diagnostics market on the basis of product & service, technique, application, end user, and region. On the basis of product & service, the market is segmented into reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELSIA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others.

The clinical chemistry segment is also further divided into basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, specialty chemicals, and others. On the basis of application, the market is segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others. On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment Review

Based on product & service, the reagent segment held the largest IVD market share in 2020 and is expected to remain dominant during the forecast period, owing to the fact that reagents are a vital part of every in vitro diagnostic test.

In Vitro Diagnostics Market
By Product And Services

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The reagent segment held the largest market share in 2020 and is expected to remain dominant during the forecast period

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On the basis of technique, the immunodiagnostics segment held the largest market share in 2020 and is expected to remain dominant during the forecast period, due to its high sensitivity analysis, high throughput, low cost, and inherent specificity in the analysis of biological samples.

On the basis of application, the infectious diseases segment held the largest IVD market size in 2020 and is expected to remain dominant during the forecast period, owing to surge in infectious diseases such as tuberculosis, human immunodeficiency viruses (HIV) and Sexually transmitted diseases (STDs).

In Vitro Diagnostics Market
By Application

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The infectious diseases segment held the largest market share in 2020 and is expected to remain dominant during the forecast period

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On the basis of end user, the standalone laboratories segment held the largest market share in 2020 and is expected to remain dominant during the forecast period, due to availability of professionally skilled technicians and surge in number of facilities offered by them for conducting various complex tests resulting in better test results.

North America held the largest in vitro diagnostics market size in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to its well-penetrated healthcare system, higher healthcare awareness among patients, adoption of technologically advanced treatments and rise in healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to surge in healthcare expenditure, huge patient base of chronic diseases that require IVD testing and increase in disposable incomes. Moreover, India and China are expected to witness growth at high CAGR in the Asia-Pacific in vitro diagnostics market.

In Vitro Diagnostics Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America exhibited the highest share in the global in vitro diagnostics market in 2020, and is anticipated to remain dominant during the forecast period

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The key players operating in the global in vitro diagnostics market are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the in-vitro diagnostics market analysis from 2020 to 2030 to identify the prevailing in vitro diagnostics market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the in-vitro diagnostics market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global in-vitro diagnostics market trends, key players, market segments, application areas, and market growth strategies.

In Vitro Diagnostics Market Report Highlights

Aspects Details
By Product And Services
  • Reagents
  • Instruments
  • Software And Services
By Technique
  • Immunodiagnostics
  • Hematology
  • Molecular Diagnostics
  • Tissue Diagnostics
  • Clinical Chemistry
  • Others
By Application
  • Infectious Diseases
  • Cancer
  • Cardiac Diseases
  • Immune System Disorders
  • Nephrological Diseases
  • Gastrointestinal Diseases
  • Others
By End User
  • Standalone Laboratories
  • Hospitals
  • Academic And Medical Schools
  • Point Of Care
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, United Kingdom, Italy, Germany, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, Thermo Fisher Scientific, Inc.
 

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This section provides various opinions of the top-level CXOs in the in vitro diagnostics market industry. In accordance with several interviews conducted, the utilization of IVD techniques is expected to witness a significant rise with increase in disease diagnosis. The IVD market has piqued the interest of the healthcare industry, owing to its high accuracy and precise techniques coupled with a wide range of applications across various medical conditions, such as oncology, sexually transmitted diseases (STDs), chronic diseases, genetic testing, and infectious diseases.

There have been remarkable advancements and some major developments in this market, such as devices with more throughput and accurate results. Owing to increase in chronic & infectious diseases, use of automated instruments, and rise in awareness regarding healthcare, North America is expected to emerge as a prominent leader in the global in vitro diagnostics market.

According to the perspectives of CXOs of leading companies in the market, personalized medicine approach, cost-effective treatment, and technological advancements are some of the major factors that drive the global in vitro diagnostics market. However, lack of reimbursement rules and stringent regulatory policies hamper the market growth.

As stated by CXOs, an increase in the number of chronic and infectious diseases boosts the demand for IVD techniques, as it is the simplest technique for diagnosis of diseases. Therefore, use of IVD techniques, such as molecular diagnostics, point-of-care testing, and immunodiagnostics, in standalone laboratories and hospitals is expected to fuel the market growth in the future.

In addition, the employment of IVD techniques is highest in North America, owing to increase in use of automated instruments, followed by Europe and Asia-Pacific. Further, use of minimally invasive techniques is also expected to boost the growth of the in vitro diagnostics market in Europe and Asia-Pacific.

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FREQUENTLY ASKED QUESTIONS?

A. Increase in prevalence of chronic diseases, rising patient pool and various technological advancements in in vitro diagnostics testings is anticipated to drive the market in the forecast period.

A. In vitro diagnostics can detect diseases or other conditions, and can be used to monitor a person's overall health to help cure, treat, or prevent diseases. In vitro diagnostics may also be used in precision medicine to identify patients who are likely to benefit from specific treatments or therapies.

A. North America is projected to account for a major share of the global in vitro diagnostics market during the forecast period. U.S. dominated the North America in vitro diagnostics market owing to increased chronic diseases, adoption of technologically advanced therapies and rising health awareness across the country.

A. The total market value of in vitro diagnostics market is $71,496.16 million in 2020.

A. Top companies such as Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc., held a high market position in 2020.

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