In-vitro Diagnostics Kit Market

In-vitro Diagnostics Kit Market Outlook from 2024 to 2034

The in-vitro diagnostics kit market is estimated to advance at a CAGR of 4.40%, reaching USD 18.8 billion through the forecasted period. The estimated market size of the market by 2024 is USD 12.2 billion. Various market forces influence the market.

Attributes	Key Insights
Estimated Market Size in 2024	USD 12.2 billion
Projected Market Value in 2034	USD 18.8 billion
Value-based CAGR from 2024 to 2034	4.40%

Key Market Trends and Highlights

• Preventive healthcare has been emphasized more recently. Due to this, people are inclined to use test kits for the regular check-up. This key trend helps them to become aware of any potential disease.
• Personalized medicines are increased. People are more inclined toward these medicines, a key trend in the market that generates the demand for personalized diagnostics test kits.
• With the help of personalized diagnostic test kits, tailored treatments can be structured to provide the utmost comfort to patients. Therefore, this has been one of the significant market trends driving the market. Moreover, the ineffectiveness of tests and medical treatment is arrested to make them more effective.

Demand Analysis of In-vitro Diagnostics Kit Market from 2019 to 2023 vs. Outlook from 2024 to 2034

The historical period registered market advancement at a CAGR of 5.00%. This growth rate ensured the market valuation reached USD 11.6 billion from USD 9.1 billion in 2023. The main surging factor for the market was the prevalence of the pandemic. Due to the outbreak of COVID-19, a surge in personalized test kits was observed.

Additionally, various other chronic diseases, including pulmonary disorders, heart attacks, strokes, and other critical illnesses surged. Subsequently, rapid testing was required. Furthermore, the regular check-up kit for patients was vital to monitor their growth. This surged the demand for the in-vitro diagnostics kit market.

However, the forecasted period focuses on the development of the healthcare sector. Various key marketers and governments have been investing heavily in developing robust infrastructure. This is the key demand-generating factor for the subject market.

Historical CAGR from 2019 to 2023	5.00%
Forecast CAGR from 2024 to 2034	4.40%

Market Drivers

• Developing different sectors, like the immunochemistry segment, helps the subject market flourish. As the segment is widely used to analyze the interaction between antigens and corresponding antibodies, it is widely exploited to develop new antidotes. Therefore, this is a primary market driver.
• The increasing number of chronic diseases surges the need for repetitive tests. To monitor patients' condition, the accuracy of the test results is essential. Automated in-vitro test kits provide it. Therefore, this drives the subject market.
• Technological advancements develop the accuracy and precision of test kits. Consequently, the output produced by these kits could benefit the patient and the medical professional in terms of efficiency. Hence, this is another market driver.
• Monetary investments in the healthcare sector create opportunities for allied industries, which assist the subject market growth. Therefore, this is another market driver.

Market Challenges

• Stringent regulatory policies established by countries hinder the growth of the market. The regulatory requirements for the market have become more stringent in North American and European countries. This strangles the market growth.
• The subject market is highly competitive. As competitors clutter the said market, it generates pricing pressures on businesses. This might be a great market restraint for the subject market.
• Traditional healthcare practices are not modernized, which affects the effective implementation of IVD tests. Hence, this is another key market restraint.

Country-wise Analysis

Various countries have been contributing to the growth of the global in-vitro diagnostics kit market. Emerging countries provide a better platform due to the lower prices of raw materials used to manufacture test kits. Furthermore, the increasing population drives various Asian markets. Hence, the Asia-Pacific region leads the market.

Apart from this, Europe is another significant contributor to the subject market. Developing medical infrastructure supports the demand for test kits.

Additionally, North America contributes to the market. However, the estimated progress made by the region is slower than other regions.

Forecast CAGRs from 2024 to 2034

Countries	Forecasted CAGR
The United States	2.7%
France	1.6%
Spain	3.3%
China	5.6%
India	6.7%

Increasing Chronic Diseases Surge the In-vitro Diagnostics Kits Market in the United States of America

• Recently, the number of patients suffering from chronic diseases has increased in the United States of America.
• The prevalence of chronic diseases surges the demand for test kits that can identify the cause by providing accurate results.
• Apart from this, the senior population in the country is rising.
• This enhances the scope of the in-vitro diagnostics kits market in the said country.
• It is estimated that the subject market will advance at a CAGR of 2.7% during the forecasted period.

The Expansion of POCT Devices Demands More Diagnostics Kits in France

• Point-of-care testing devices provide better convenience to medical professionals and patients. This increases the popularity of POCT devices.
• Apart from this, the decentralized testing facility provided by devices gives optimum results.
• The accessibility of test kits to French patients has been increasing, another market driver for the subject market.
• Due to this, France's in-vitro diagnostics kits market is driven, and it is estimated to advance at a CAGR of 1.6%.

The Spanish Government Influences In-vitro Diagnostics Kits Market

• The Spanish market for in-vitro diagnostics kits promises to progress at a CAGR of 3.3%, the highest in Europe. This helps the country to lead the region in terms of its growth rate.
• The Spanish government focuses on bolstering the healthcare system.
• This encourages healthcare organizations to focus on rapid testing and accurate results to ensure error-free outcomes.
• Various government initiatives enhance the accessibility of test kits to patients, which drives the market.
• Government investments in the healthcare sector promote the subject market's growth.

Preventive Healthcare Approach Shapes the Chinese Market

• The Chinese population has focused more on preventive healthcare since the COVID-19 pandemic. This surges the demand for check-up kits and test apparatus.
• Apart from this, awareness regarding preventive healthcare has been increasing due to various campaigns, which are crucial drivers for the said market.
• With the help of these initiatives, the in-vitro diagnostics kits market is estimated to progress at a CAGR of 5.6% through 2034.
• The growth rate of the Chinese market is associated with early disease detection and reduced risk associated with chronic diseases.

Increasing Healthcare Expenditure Promises the Highest Growth Rate in India

• India, an emerging market and economy, promises an optimistic future for the subject market at the highest CAGR of 6.7% among all other countries. Therefore, India leads the global market in terms of its growth rate.
• The Indian government has been spending more on the healthcare sector, which makes the industry robust.
• Due to this, the demand for test kits and diagnostic and analyzing tools has increased significantly.
• The growing healthcare infrastructure supports the production of IVD test kits, which drives the market.
• Hence, these are some crucial market drivers for the Indian market.

Category-wise Insights

Category	Application - Infectious Diseases
Market Share in 2024	28.1%
Market Segment Drivers	The prevalence of infectious diseases has been increasing, which surges the demand for testing units to arrest pathogens. Epidemics create more demand for testing kits, another market driver. Rapid testing is required in the case of infectious disease, which requires an in-vitro diagnostics kit. Hence, it is another critical driver.

Category	End Use - Hospital Laboratories
Market Share in 2024	43.2%
Market Segment Drivers	The number of patients reaching hospital laboratories has increased as their physician prescribes them. Hence, this is a primary market segment driver. Hospital laboratories produce accurate test results with the help of in-vitro diagnostics test kits. Hence, this is a key segment driver.

Competitive Landscape

The market competition is subject to the influence of key marketers and their market presence. A new entrant entering the market is required to identify the market niche so that it can withstand the fierce competitive force. Innovation and product differentiation are the key strategies that will help to enhance their market presence.

Key competitors in the market employ various market expansion strategies. The fundamental strategy used includes mergers and acquisitions to enhance the market presence. Apart from this, product development, alliances, partnerships, and diversification are key expansion strategies that influence the growth of key players.

Key Market Developments

• In May 2023, DWK Life Sciences acquired Assem-Pak. The strategic move helps the organization widen its product range, allowing the business to gain more competitive space.
• In December 2023, Greiner Bio-One International GmbH announced that it would add HTS products to its existing product portfolio. This will help the business by fostering high-throughput applications and minimizing the cost required for each assay.
• In March 2024, Thermo Fisher Scientific, Inc. introduced the CorEvitas clinical registry. This will help the organization collect patient data regarding their health, which will be followed by enhanced treatment of patients.

Key Coverage of In-vitro Diagnostics Kit Market Report

• Key coverage of market trends and advancements of different segments.
• Emerging markets and their progress in the market.
• Key market dynamics creating lucrative growth opportunities.
• Competitive space dynamics in the global competitive landscape.

Report Scope

Attributes	Details
Estimated Market Size in 2024	USD 12.2 billion
Projected Market Valuation in 2034	USD 18.8 billion
Value-based CAGR 2024 to 2034	4.40%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa
Key Market Segments Covered	Kits Format, Application, End Use, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel
Key Companies Profiled	Bio-Rad Laboratories Inc.; Corning Incorporated; DWK Life Sciences.; Greiner Bio-One International GmbH; Narang Medical Limited; Thermo Fisher Scientific Inc.; Sarstedt AG & Co. KG; Aptar Group Incorporated; West Pharmaceutical Services; Cardinal Health; Atlas Medical; CareDx Inc.; Altona Diagnostics GmbH; Mylab Discovery Solutions Pvt. Ltd.; Becton, Dickinson and Company; Amcor Limited; GBF Inc.; Co-Diagnostics Inc.; Epitope Diagnostics Inc.; Integrated DNA Technologies Inc.; AusDiagnostics

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Kits Format
  • 5.1. Bottles
  • 5.2. Bags
  • 5.3. Test Strips
  • 5.4. Vials & Ampoules
  • 5.5. Prefilled Syringes
  • 5.6. Cartridge
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 6.1. Infectious Diseases
  • 6.2. Diabetes
  • 6.3. Drug Testing/ Pharmacogenomics
  • 6.4. Autoimmune Diseases
  • 6.5. Oncology
  • 6.6. Cardiology
  • 6.7. HIV/AIDS
  • 6.8. Nephrology
  • 6.9. Other Applications
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User
  • 7.1. Hospital Laboratories
  • 7.2. Point-of-Care Testing Centres
  • 7.3. Academic Institutes
  • 7.4. Clinical Laboratories
  • 7.5. Other End User
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Bio-Rad Laboratories Inc.
  • 18.2. Corning Incorporated
  • 18.3. DWK Life Sciences.
  • 18.4. Greiner Bio-One International GmbH
  • 18.5. Narang Medical Limited
  • 18.6. Thermo Fisher Scientific, Inc.
  • 18.7. Sarstedt AG & Co. KG
  • 18.8. Aptargroup Incorporated
  • 18.9. West Pharmaceutical Services
  • 18.10. Cardinal Health
  • 18.11. Atlas Medical
  • 18.12. CareDx, Inc.
  • 18.13. Altona Diagnostics GmbH
• 19. Assumptions & Acronyms Used
• 20. Research Methodology