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Global In Vitro Diagnostics (IVD) Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Sep 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global In Vitro Diagnostics (IVD) Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - 5% Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 111.67 Billion
Diagram Market Size (Forecast Year) USD 164.99 Billion
Diagram CAGR 5%

Global In Vitro Diagnostics (IVD) Market, By Technique (Immunodiagnostics, Hematology, Molecular DiagnosticsTissue Diagnostics, In vitro diagnostics (IVD), Others), Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), End-User (Standalone Laboratory, Hospitals, Academic and Medical Schools, Point of Care, Others), Product and Service (Reagents, Instruments, and Software and Services) – Industry Trends and Forecast to 2029.

In Vitro Diagnostics (IVD) Market Analysis and Size

Devices are used in specialised medical facilities to carry out diagnostics since the application and management of the IVD market require technical competence. To diagnose illnesses, disorders, and infections, in vitro diagnostics (IVD) refers to the reagents, tools, and software used to analyse specimens taken from the human body, such as blood, urine, stool, tissues, and other physiological fluids. Other IVD device types employ various techniques, including immunodiagnostics, tissue diagnostics, haematological, and molecular diagnostics.

Data Bridge Market Research analyses that the In vitro diagnostics (IVD) market which was USD 111.67 billion in 2021, would rocket up to USD 164.99 billion by 2029, and is expected to undergo a CAGR of 5.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

In Vitro Diagnostics (IVD) Market Scope and Segmentation      

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, In vitro diagnostics (IVD) , Others), Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), End-User (Standalone Laboratory, Hospitals, Academic and Medical Schools, Point of Care, Others), Product and Service (Reagents, Instruments, and Software and Services)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Siemens (Germany), General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), CANON MEDICAL SYSTEMS CORPORATION (Japan), Hitachi Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Carestream Health (U.S.), Konica Minolta Business Solutions India Private Limited. (Japan), Hologic, Inc. (U.S.), SouthwestMedical (U.K.), TOSHIBA CORPORATION (Japan), Sanrad Medical Systems Private Limited (India), ONEX Corporation (Canada), Shimadzu Corporation (Japan), ESAOTE SPA (Italy)

Market Opportunities

Market Definition

The tests used in in vitro diagnostics are carried out on a person's blood or tissue sample. They assist in keeping a close eye on the patient's health and are used to accurately test for and diagnose diseases or any underlying issues. These diagnostic procedures can assist in determining the optimal course of treatment for each individual.

In Vitro Diagnostics (IVD) Market Dynamics

Drivers

  • Increasing awareness of medicine

Rising awareness of customised medicine and expanding use of point-of-care testing are two other main reasons propelling the in vitro diagnostics/IVD market, among others. Fully automated devices and laboratory automation are also important aspects accelerating market expansion.

  • Rise in the importance of companion diagnostics

In addition, the market for in vitro diagnostics and IVDs will see increased growth possibilities in emerging nations, a rise in the importance of companion diagnostics, and a rise in condition-specific markers and tests over the anticipated period of 2022–2029.

  • Rise in the Infectious disease

The rise in the prevalence of chronic and infectious diseases is a primary factor driving the IVD market's expansion. Chronic diseases like diabetes, cancer, cardiovascular disease, and tuberculosis are becoming more common in the contemporary business environment. Additionally, there has been a marked increase in the number of individuals with infectious disorders such STDs, respiratory illnesses, and gastrointestinal conditions (sexually transmitted diseases). The market for IVDs is driven by the demand for diagnostic tools, which is anticipated to rise as these diseases become more prevalent.

Opportunities

The growth of the market is anticipated to be fuelled by the creation of automated IVD systems for labs and hospitals to give quick, precise, and error-free diagnosis. The market is expanding as a result of the increasing number of IVD products being introduced by major companies.

Restraints/Challenges

In vitro diagnostics/IVD market growth in the forecast period will be further hampered by changing regulatory environments and rising operational barriers associated with performing diagnostic tests. However, increasing unfavourable reimbursement scenarios and constant government regulation updates are the main factors among others that will restrain market growth.

This in vitro diagnostics (IVD) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the in vitro diagnostics (IVD) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on In Vitro Diagnostics (IVD) Market

The COVID-19 pandemic is expected to have a favourable effect on the worldwide IVD industry in 2020. The number of COVID-19 cases and diagnoses increased significantly during the pandemic, as did the demand for newly created emergency use approved IVD tests used for COVID-19 detection, which positively impacted the market.

Global In Vitro Diagnostics (IVD) Market Scope

The in vitro diagnostics (IVD) market is segmented on the basis of technique, application, end-user and product and service. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technique

  • Immunodiagnostics
  •  Hematology
  • Molecular Diagnostics
  • Tissue Diagnostics
  • In vitro diagnostics (IVD)
  • Others

Application

  • Infectious Diseases
  • Cancer
  • Cardiac Diseases
  •  Immune System Disorders
  • Nephrological Diseases
  • Gastrointestinal Diseases
  • Others

 End-User

  • Standalone Laboratory
  • Hospitals
  • Academic
  • Medical Schools
  • Point of Care
  • Others

Product and Service

  • Reagents
  • Instruments
  • Software and Services

In Vitro Diagnostics (IVD) Market Regional Analysis/Insights

The in vitro diagnostics (IVD) market is analysed and market size insights and trends are provided by country, technique, application, end-user and product and service as referenced above.

The countries covered in the in vitro diagnostics (IVD) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the in vitro diagnostics (IVD) market due to rising favourable government regulations, well-established diagnostic infrastructure.

Asia-Pacific is the expected region in terms of growth in vitro diagnostics (IVD) market due to rising presence of a large number of target populations along with improving healthcare infrastructure in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and In Vitro Diagnostics (IVD) Market Share Analysis

The in vitro diagnostics (IVD) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to in vitro diagnostics (IVD) market.

Some of the major players operating in the in vitro diagnostics (IVD) market are:

  • Siemens (Germany)
  • General Electric (U.S.)
  • Koninklijke Philips N.V. (Netherlands)
  • CANON MEDICAL SYSTEMS CORPORATION (Japan)
  • Hitachi Ltd. (Japan)
  • FUJIFILM Holdings Corporation (Japan)
  • Carestream Health (U.S.)
  • Konica Minolta Business Solutions India Private Limited (Japan)
  • Hologic, Inc. (U.S.)
  • SouthwestMedical (U.K.)
  • TOSHIBA CORPORATION (Japan)
  • Sanrad Medical Systems Private Limited (India)
  • ONEX Corporation (Canada)
  • Shimadzu Corporation (Japan)
  • ESAOTE SPA (Italy)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The in vitro diagnostics (IVD) market value is projected USD 164.99 billion by forecast.
The in vitro diagnostics (IVD) market is projected to grow at a CAGR of 5.00% during the forecast period of 2022-2029.
On the basis of application, the In Vitro Diagnostics (IVD) Market is segmented into Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others.
The major players operating in the In Vitro Diagnostics (IVD) Market are Siemens (Germany), General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), CANON MEDICAL SYSTEMS CORPORATION (Japan), Hitachi Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Carestream Health (U.S.), Konica Minolta Business Solutions India Private Limited. (Japan), Hologic, Inc. (U.S.), SouthwestMedical (U.K.), TOSHIBA CORPORATION (Japan), Sanrad Medical Systems Private Limited (India), ONEX Corporation (Canada), Shimadzu Corporation (Japan), ESAOTE SPA (Italy).
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