The in vitro diagnostics market is set to thrive at a steady CAGR of 4.8% during the forecast period. The market holds a share of US$ 81.3billion in 2023 while it is anticipated to cross a value of US$ 129.9billion by 2033.
The research report on in vitro diagnostics market explains that growing awareness amongst people regarding their health checkups is experiencing a surge. Thus, the demand for advanced in vitro diagnostics is rising as it is one of the latest methods of detecting issues. From testing the blood, and urine samples to diagnosing them in the lab and monitoring them most skillfully is the key to any diagnostic operations. Furthermore, the addition of advanced automation and instruments along with quality controls and quality assurance software is likely to transform the market in the future. The government increasing its spending on microfluidic technology to enhance in vitro diagnostic solutions. The integration of biotechnology, laboratories, and diagnostic technology is likely to strengthen and save the future of in vitro diagnostics market.
The in vitro diagnostics market outlook states that well-established technologies like lateral flow strips and immunosensors, as well as the continued downsizing of circuits and improved computational capacity of devices, fueled this growth of in-vitro diagnostic medical devices. This shift from a centralized to the point care testing system is expected to drive the demand for in-vitro diagnostics forward. Furthermore, the rising cases of chronic diseases force people to keep a check on their health and change their lifestyle according to it.
| Attributes | Details |
|---|---|
| In Vitro Diagnostics Market CAGR (2023 to 2033) | 4.8% |
| In Vitro Diagnostics Market Size (2023) | US$ 81.3 billion |
| In Vitro Diagnostics Market Size (2033) | US$ 129.9 billion |
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From 2017 to 2022, the global in vitro diagnostics market registered a comparatively higher CAGR of 5.9%. The rising frequency of chronic and infectious diseases is responsible for the rise in the usage of in-vitro diagnostics medical devices. The rising prevalence of chronic diseases drives the need for extensive diagnostic procedures, which drives the market.
The current in-vitro diagnostics market outlook is positively rising as a result of the IVD market's utilization of modern technology. A paradigm change has occurred, with traditional diagnostics giving way to a new wave of diagnostics that act at the gene level.
The incorporation of modern technologies in the IVD platform, such as genetic testing, molecular diagnostics, polymerase chain reaction (PCR), and next-generation sequencing (NGS), makes this possible. In addition, the sales of in-vitro diagnostics are likely to be driven by an increase in product introductions with enhanced features The In vitro diagnostics market is anticipated to thrive at a CAGR of 4.8% between 2023 and 2033.
The frequency of age-related ailments is predicted to rise dramatically as the world's elderly population grows rapidly.
Biomarkers also have a lot of clinical value and interest in the medical business because they can help with illness screening, treatment, and medication.
The accessibility of biomolecular tools and the incorporation of biomarkers are projected to aid in the creation of a new variety of condition-specific tests, giving rise to new in vitro diagnostics products.
The IVD industry is characterized by fierce competition. As competitors seek to maintain their presence and drive R&D and innovation, the in vitro diagnostics market adoption is fast evolving with automation, AI, and advanced data analytics.
To fulfill the changing demand for in vitro diagnostics from providers such as clinical laboratories and point-of-care diagnostic centers, companies have begun to automate diagnostic testing.
With the introduction of quick Proof of Concept technology, facilities were able to streamline workflows and reduce personnel requirements to process a larger sample load.
Diagnostic testing and laboratory industries have banded together to aid public health efforts, provide data for testing, and develop new transformational diagnostic technologies.
Principal Consultant
Due to continual technological advancements in medicine, countries with unfavorable reimbursement scenarios have issues in their financial systems.
A few years ago, Medicare in the United States amended its funding method for various in-vitro diagnostic tests, including molecular diagnostic testing.
Some molecular pathology tests don't have their own Healthcare Common Procedure Coding System (HCPCS) codes; thus, they're invoiced with unlisted codes instead. Medicare Administrative Contractors (MACs) set a payment amount for their local jurisdictions in such circumstances.
Molecular diagnostic tests focused on NGS analysis panels and cancer detection tests are among the diagnostics available. These changes in the reimbursement system are projected to harm the molecular and genetic testing market in the United States, stifling the in-vitro diagnostics market growth.
Clinical laboratories in key markets are still evolving; technicians confront operational issues in assuring effective sample procurement, storage, and transportation, especially as new technologies like NGS and lab-on-a-chip PCR machines become more widely adopted.
To reduce cross-contamination and ensure efficient time management, laboratory space must also be modified to fulfill the requirements of conducting certain diagnostic procedures needed for pathogen detection. This drives up the expense of maintaining and operating modern in-vitro diagnostic test kits and instruments, especially those that can only handle a single sample type.
Furthermore, clinical laboratories must implement innovative technology capable of rapid sample diagnosis due to the quick mutation of microorganisms and the increased incidence of epidemics. The lack of competent laboratory professionals to operate modern diagnostic equipment, particularly in emerging areas, has hampered their broad acceptance.
Another barrier faced by in-vitro diagnostics companies is a reluctance to move away from manual procedures and toward automation. Many providers find it difficult or impossible to make a move from manual or traditional procedures to IT-based approaches.
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The integration of biomarkers and the availability of biomolecular tools are likely to aid in the development of a new set of condition-specific tests, thereby expanding the in vitro diagnostics industry reach.
The development of new biomarkers for diagnosing various diseases, particularly cancer, has revolutionized medicine. Biomarkers have become more effective in illness identification thanks to advances in sequencing technology and a better understanding of genetics.
As a result, demand for precision medicine is likely to rise, providing considerable potential prospects for in-vitro diagnostics market size growth.
| Region | Absolute Market Growth |
|---|---|
| United States | US$ 18.1 billion |
| United Kingdom | US$ 1.2 billion |
| China | US$ 6.2 billion |
| Japan | US$ 2.1 billion |
| India | US$ 3.2 billion |
Increased Healthcare Spending along with the Rising Prevalence of Chronic Diseases like Diabetes and Cancer are propelling the Regional Growth
| Region | Attributes |
|---|---|
| United States Market CAGR (2023 to 2033) | 4.4% |
| United States Market Absolute Doller Growth (US$ million/billion) | US$ 18.1 billion |
United States is expected to be the leading regional market for in vitro diagnostics during the forecast period, owing to its well-connected healthcare system and increased healthcare awareness among patients, as well as Obama's Affordable Care Act (ACA), technological advancements, and a recovering American economy. The United States regional market is likely to surge at a CAGR of 4.4% between 2023 and 2033 while it is anticipated to reach a value of US$ 51.9 billion by 2033.
Other factors that contribute to the market's growth include the widespread availability of devices, increased knowledge about their usage, and the existence of a significant number of senior populations suffering from a variety of chronic ailments.
| Region | Attributes |
|---|---|
| Indian Market CAGR (2023 to 2033) | 8.8% |
| Indian Market Absolute Doller Growth (US$ million/billion) | US$ 3.2 billion |
India with its leap in the vaccine race is expanding its roots in the diagnostics industry and is flourishing at a leading CAGR of 8.8% between 2023 and 2033. The regional market is anticipated to reach a value of US$ 5.7 billion by 2033. The growth is attributed to the increase in healthcare expenditure and the incidence of diabetes in the region, India is predicted to expand at the quickest rate throughout the projection period.
Various reasons, such as the large patient population of other chronic illnesses that necessitate IVD testing, also contribute to the overall Indian market's growth.
| Segment | Top Technology |
|---|---|
| Top Sub-segment | Clinical Chemistry |
| CAGR (2017 to 2022) | 5.4% |
| CAGR (2023 to 2033) | 4.2% |
| Segment | Top Application |
|---|---|
| Top Sub-segment | Infectious Disease |
| CAGR (2017 to 2022) | 6.0% |
| CAGR (2023 to 2033) | 4.6% |
The technology category is divided into molecular diagnostics, immunoassays, clinical chemistry, point of care, etc. Clinical chemistry holds a substantial market share as it covers most of the diagnostic panels. The segment thrives at a higher leading CAGR of 4.2% between 2023 and 2033.
The application segment is likely to be driven by an increase in market participants developing infectious disease detection tests for in vitro diagnostics. The infectious disease led the market in 2020, accounting for 41.8 percent of total revenue, owing to the rising prevalence of infectious diseases such as SARS-CoV-2, HIV, AIDS, TB, and pneumonia. The segment now thrives at a CAGR of 4.2% between 2023 and 2033.
For example, Siemens Healthineers' 12 novel tests for viral hepatitis and other disorders obtained premarket approval from the United States Food and Drug Administration in December 2018. These tests are utilized in the Atellica Solution, which offers hepatitis C screening, diagnosis, and monitoring.
The market for in vitro diagnostics is indeed competitive, with numerous significant competitors. The industry is currently dominated by a few big companies in terms of market share. Mid-size to smaller businesses, on the other hand, are expanding their market presence by releasing new items at reduced prices, thanks to technical improvements and product innovations. In addition, important players are active in strategic alliances with firms that complement their product lines, such as acquisitions, collaborations, and partnerships.
Market Developments
In 2023, the market size is estimated to be US$ 81.3 billion.
Thermo Fischer Scientific Inc., Abbott Laboratories, and Siemens Healthcare GmbH are the key players in the market.
Rise in demand for precision medicine is likely to be opportunistic for market players.
Need for more competent laboratory professionals is the key challenge.
North America is expected to be the leading region.
The market is expected to register a CAGR of 4.8% through 2033.
1. Executive Summary | In Vitro Diagnostics Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Technology
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Technology, 2017 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Technology, 2023 to 2033
5.3.1. Molecular Diagnostics
5.3.1.1. Polymerase Chain Reaction
5.3.1.2. Isothermal Nucleic Acid
5.3.1.3. Microarray
5.3.1.4. Hybridization
5.3.1.5. DNA Sequencing & Next Generation Sequencing
5.3.1.6. Other MDx Technologies
5.3.2. Immunoassays
5.3.2.1. ELISA
5.3.2.2. RIA
5.3.2.3. ELISpot Assay
5.3.2.4. Rapid Test
5.3.2.5. Other Immunoassay techniques
5.3.3. Clinical Chemistry
5.3.3.1. Basic Metabolite
5.3.3.2. Electrolyte Panel
5.3.3.3. Liver Panel
5.3.3.4. Lipid Panel
5.3.3.5. Renal Panel
5.3.4. Point of Care
5.3.5. Whole Blood Glucose Monitoring
5.3.6. Hematology
5.3.7. Clinical Microbiology
5.3.8. Coagulation and Hemostasis
5.3.9. Others
5.4. Y-o-Y Growth Trend Analysis By Technology, 2017 to 2022
5.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2017 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Drug Testing
6.3.2. Infectious Disease
6.3.3. Oncology
6.3.4. Metabolic Disease
6.3.5. Autoimmune Disease
6.3.6. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End-user
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By End-user , 2017 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-user , 2023 to 2033
7.3.1. Diagnostics Laboratories
7.3.2. Hospitals
7.3.3. Academic & Research Centers
7.3.4. Home Care
7.3.5. Others
7.4. Y-o-Y Growth Trend Analysis By End-user , 2017 to 2022
7.5. Absolute $ Opportunity Analysis By End-user , 2023 to 2033
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Technology
9.2.3. By Application
9.2.4. By End-user
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Technology
9.3.3. By Application
9.3.4. By End-user
9.4. Key Takeaways
10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Technology
10.2.3. By Application
10.2.4. By End-user
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Technology
10.3.3. By Application
10.3.4. By End-user
10.4. Key Takeaways
11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. United Kingdom
11.2.1.2. Spain
11.2.1.3. Germany
11.2.1.4. Italy
11.2.1.5. France
11.2.1.6. Rest of Europe
11.2.2. By Technology
11.2.3. By Application
11.2.4. By End-user
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Technology
11.3.3. By Application
11.3.4. By End-user
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. China
12.2.1.3. Japan
12.2.1.4. Australia & New Zealand
12.2.1.5. Rest of Asia Pacific
12.2.2. By Technology
12.2.3. By Application
12.2.4. By End-user
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Technology
12.3.3. By Application
12.3.4. By End-user
12.4. Key Takeaways
13. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. South Africa
13.2.1.2. GCC Countries
13.2.1.3. Rest of Middle East and Africa
13.2.2. By Technology
13.2.3. By Application
13.2.4. By End-user
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Technology
13.3.3. By Application
13.3.4. By End-user
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Technology
14.1.2.2. By Application
14.1.2.3. By End-user
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Technology
14.2.2.2. By Application
14.2.2.3. By End-user
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Technology
14.3.2.2. By Application
14.3.2.3. By End-user
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Technology
14.4.2.2. By Application
14.4.2.3. By End-user
14.5. United Kingdom
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Technology
14.5.2.2. By Application
14.5.2.3. By End-user
14.6. Spain
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Technology
14.6.2.2. By Application
14.6.2.3. By End-user
14.7. Germany
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Technology
14.7.2.2. By Application
14.7.2.3. By End-user
14.8. Italy
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Technology
14.8.2.2. By Application
14.8.2.3. By End-user
14.9. France
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Technology
14.9.2.2. By Application
14.9.2.3. By End-user
14.10. India
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Technology
14.10.2.2. By Application
14.10.2.3. By End-user
14.11. China
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Technology
14.11.2.2. By Application
14.11.2.3. By End-user
14.12. Japan
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Technology
14.12.2.2. By Application
14.12.2.3. By End-user
14.13. Australia & New Zealand
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Technology
14.13.2.2. By Application
14.13.2.3. By End-user
14.14. South Africa
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Technology
14.14.2.2. By Application
14.14.2.3. By End-user
14.15. GCC Countries
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Technology
14.15.2.2. By Application
14.15.2.3. By End-user
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Technology
15.3.3. By Application
15.3.4. By End-user
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Roche Diagnostics
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. Siemens Healthineers
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Danaher Corporation
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Abbott
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Thermo Fisher Scientific
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. Johnson & Johnson
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. Becton, Dickinson and Company
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.8. Bio-Rad Laboratories
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.9. Sysmex Corporation
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.10. bioMérieux
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.11. DiaSorin
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.12. Ortho Clinical Diagnostics
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.13. QIAGEN N.V.
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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In Vitro Diagnostics Market
