USD 110.89 Billion
Global In-Vitro Diagnostics Market Size, Share, Growth Analysis, By Product & Service(Reagents & Kits, Instruments), By Technology(Immunoassay/ Immunochemistry, Clinical chemistry), By Application(Infectious diseases, Diabetes), By End-User(Hospital laboratories, Clinical laboratories) - Industry Forecast 2022-2028
Report ID: SQSG35G2015 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 133 | Figures: 70
Global In-Vitro Diagnostics Market Insights
In-Vitro Diagnostics Market was valued at USD 110.89 Billion in 2021, and it is expected to reach a value of USD 151.21 Billion by 2028, at a CAGR of 6.2% over the forecast period (2022 - 2028).
IVD products are used in hospitals, standalone labs, and point-of-care testing centers. To enable smooth operations, the in vitro testing approach requires the use of a number of reagents as well as software. Additionally, a variety of medical conditions, such as infectious illnesses, diabetes, cancer, oncology, cardiac disorders, autoimmune disorders, nephrology, and HIV/AIDS, are diagnosed using in vitro diagnostics.
US In-Vitro Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot
Global Market Size
Largest Segment
Reagents & Kits
Fastest Growth
Reagents & Kits
Growth Rate
6.2% CAGR
GlobalIn-Vitro Diagnostics Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
GlobalIn-Vitro Diagnostics Market Size by Product & Service, 2021-2028 ($ Bn)
GlobalIn-Vitro Diagnostics Market Size by Product & Service, 2021-2028 (%)
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Global In-Vitro Diagnostics Market Segmental Analysis
The Global In-Vitro Diagnostics Market is segmented based on Product & Services, Technology, Application, End-User, and Region. Based on the Product & Services, the Global in In-Vitro Diagnostics Market is segmented as Reagents & Kits, Instruments, Services, and Data Management Software. Based on the Technology, the Global In-Vitro Diagnostics Market is segmented as Immunoassay/ Immunochemistry, Clinical chemistry, Molecular diagnostics, Hematology, Microbiology, Coagulation and Hemostasis, Urinalysis, and Other Technologies. Based on the Application, the Global In-Vitro Diagnostics Market is segmented as Infectious diseases, Diabetes, Oncology, Cardiology, Drug Testing/ Pharmacogenomics, Autoimmune diseases, HIV/AIDS, Nephrology, and Other Applications. Based on the End-User, the Global In-Vitro Diagnostics Market is segmented as Hospital laboratories, Clinical laboratories, Point-of-care testing centers, Academic institutes, Patients, and Other end users. Based on Region In-Vitro Diagnostics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
In-Vitro Diagnostics Market Analysis by Application
In 2020, 34.1% of the IVD market was accounted for by infectious illnesses. Due to the increasing incidence of infectious diseases, particularly those that are multi-drug resistant, as well as the growing demand for efficient diagnostic instruments for these illnesses, this market sector has a sizable share. Oncology, however, is anticipated to experience the highest CAGR of 6.6% over the projection period. The primary drivers of market expansion are the rising incidence of cancer cases throughout the world, the rising need for customized therapy, and the availability of financing for cancer research.
GlobalIn-Vitro Diagnostics Market Share By Product & Service, 2021 (%)
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Global In-Vitro Diagnostics Market Regional Insights
The in-vitro diagnostics market size in North America was the largest in 2020, and it's expected to hold this position during the forecast period. This is ascribed to the region's well-integrated healthcare system, patients' increased knowledge of healthcare issues, patients' adoption of cutting-edge therapies, and an increase in healthcare spending overall. However, the Asia-Pacific region is expected to see significant growth due to rising healthcare costs, a sizable patient population with chronic illnesses that necessitate IVD testing, and rising disposable incomes. In addition, the Asia-Pacific in-vitro diagnostics market is anticipated to rise rapidly in India and China.
GlobalIn-Vitro Diagnostics Market By Geography, 2021 - 2028
- Largest
- Fastest
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Global In-Vitro Diagnostics Market Dynamics
In-Vitro Diagnostics Market Driver
A shift from centralized to point-of-care testing
- The centralized laboratory using automated analytical testing techniques to identify target analytes continues to be the predominant laboratory testing paradigm in use today. This pattern is already well-established in the fields of clinical chemistry and hematology, and it is currently spreading to others like immunoassays and molecular diagnostics.
- In comparison to traditional diagnostic methods, point-of-care devices are more affordable, simpler to use and produce the quick findings needed to start making decisions. The desire to organize healthcare services around the patient rather than the practitioner has a significant impact on the rising usage of POCT devices. Because the testing procedure is frequently separated from the consultation, centralized testing does not represent a convenient approach for many patients. This specifically affects people who need ongoing monitoring, including numerous blood tests, due to a chronic illness like diabetes. Part of this urge for more practical and efficient treatment may be seen in the increase of self-monitoring of blood glucose, which is by far the biggest section of POC testing.
In-Vitro Diagnostics Market Restraint
Unfavorable reimbursement scenario
- Given the quantity of ongoing medical technological advancements, the Patient Protection and Affordable Care Act of 2010 altered the dynamics of healthcare finance and delivery in the US. Other nations are also facing difficulties with their financial systems. Medicare is the US has changed the way it pays for various in vitro diagnostic testing, including molecular diagnostic assays. Some of these molecular pathology tests are invoiced using unlisted codes rather than their own Healthcare Common Procedure Coding System (HCPCS) numbers. Medicare Administrative Contractors (MACs) determine a payment amount for their local jurisdictions in such circumstances. About 75% of tests, according to CMS, revealed decreases in reimbursement rates after January 2017.
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Global In-Vitro Diagnostics Market Competitive Landscape
The Global In-Vitro Diagnostics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
In-Vitro Diagnostics Market Top Player's Company Profiles
- Roche Diagnostics (Switzerland)
- Siemens Healthineers (Germany)
- Danaher Corporation (US)
- Abbott (US)
- Thermo Fisher Scientific (US)
- Johnson & Johnson (US)
- Becton, Dickinson and Company (US)
- Bio-Rad Laboratories (US)
- Sysmex Corporation (Japan)
- bioMérieux (France)
- DiaSorin (Italy)
- Ortho Clinical Diagnostics (US)
- QIAGEN N.V. (Netherlands)
In-Vitro Diagnostics Market Recent Developments
- In January 2022, Cobas Pulse System, a blood glucose monitoring system with mobile digital health features to enhance patient care, was introduced by Roche Diagnostics.
- In September 2021, for usage with compatible iPhones, Abbott Laboratories gained US FDA authorization for the Freestyle libre 2 iOS application.
- In March 2021, the long-standing hemostasis supply, distributorship, sales, and service agreement between Siemens Healthineers and Sysmex Corporation was extended.
- In January 2021, to capitalize on its strengths, which include competitive goods and services and vast sales and support networks, Sysmex Corporation and Roche Diagnostics agreed to collaborate.
Global In-Vitro Diagnostics Key Market Trends
- The market's reagent segment contains elements, solutions, or preparations that are chemical, biological, or immunological and that the maker intends to utilize throughout the in vitro diagnosis procedure. Manufacturers frequently lease equipment rather than selling it outright to customers since many diagnostic platforms are expensive. In these agreements, the leasing is linked to agreements for the long-term purchase of related reagents or tests for the equipment.
- The need for in vitro diagnostics rises along with the burden of chronic illnesses in the world, which in turn drives up demand for the reagents used in the different testing platforms. Additionally, the market is anticipated to be driven by the increasing number of product releases.
Global In-Vitro Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global In Vitro Diagnostics Market Analysis, the rise in the prevalence of infectious and chronic illnesses is a primary factor driving the IVD market's expansion. Chronic illnesses including diabetes, cancer, cardiovascular disease, and tuberculosis are becoming more common in the contemporary corporate environment. Additionally, there has been a marked increase in the number of individuals with infectious disorders such as STDs, respiratory illnesses, and gastrointestinal conditions (sexually transmitted diseases). The market for IVDs is driven by the need for diagnostic tools, which is anticipated to rise as these illnesses become more prevalent.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 110.89 Billion |
| Market size value in 2028 | USD 151.21 Billion |
| Growth Rate | 6.2% |
| Base year | 2021 |
| Forecast period | 2022 - 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global In-Vitro Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global In-Vitro Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global In-Vitro Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global In-Vitro Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global In-Vitro Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global In-Vitro Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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