In-Vitro Diagnostics Market Segmented by End-user Industry and Geography – Growth, Trends, and Forecast (2020 – 2027)

Market Size – USD 69.63 billion in 2019, Market Growth – CAGR of 4.6%, Market trends – The rise in the trend of personalized medicine.

The growth in the in vitro diagnostic market is due to the rise in the study and new innovations in genomic and proteomic services in the industry. The unexplored sectors are providing ample opportunities for the growth of the market in the coming years. Further, the increase in research and development facilities in molecular diagnostics and the development of new products is fueling market growth. The innovative launch of various techniques, application of in vitro diagnostic in therapeutic areas are propelling the market growth.

Other driving factors of the market are the growing geriatric population, the prevalence of alternative lifestyle that causes chronic diseases, the rise in infectious diseases, increasing awareness regarding personalized medicine, and an increase in adoption of point-of-care testing. Strict regulatory framework and inadequate reimbursement will impede market growth.

Growing incidences of surgical procedures are anticipated to fuel the market demand. The rising prevalence of target diseases such as diabetes, gastrointestinal diseases, cancer, cardiac disorders, and infectious diseases are contributing to market growth positively. Due to this scenario, the developments in the diagnostic industry to aid in the treatment of such severe diseases becomes important.

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The reagent segment held the largest market share of 37.1% in the year 2019. Developing countries have established local immunoassay reagents programs to produce high quality, low-cost reagents.

Immunoassays will grow with a significant share during the forecast period. The large share of this segment is mainly attributed to the increasing preference for these technologies in clinical diagnostics over other traditional methods.

In-vitro diagnostics are often used for a wide range of applications in hospitals and clinics. A continuous upward trend in the number of diseases like diabetes, hypertension, kidney inflammation, and hematological disorders are positively supporting the market. Increasing partnerships, expansion, mergers, and acquisitions are expected to further drive the segment demand.

North America dominated the market for in-vitro diagnostics. The U.S. is the major contributor owing to the increased investment in healthcare and an increase in point-of-care testing. The region is expected to do well due to the well-established healthcare industry and an increase in infectious disease.

Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA

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Key participants include Siemens Healthineers, Roche Diagnostics, Danaher Corporation, bioMérieux, Abbott Laboratories, DiaSorin, Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, QIAGEN, and Sysmex Corporation, among others.

Product Outlook (Revenue, USD Billion; 2017-2027)

Reagents & Kits

Instruments

Fully Automated Instruments

Semi-Automated Instruments

Data Management Software

Services

Devices Outlook (Revenue, USD Billion; 2017-2027)

Reusable IVD Devices

Disposable IVD Devices

Application Outlook (Revenue, USD Billion; 2017-2027)

Cancer

Infectious Diseases

Diabetes

Gastrointestinal Disease

Autoimmune Diseases

Cardiac Disease

Drug Testing /Pharmacogenomics

HIV/AIDS

Nephrological Disease

Other

Technique Outlook (Revenue, USD Billion; 2017-2027)

Immunoassay

Clinical Chemistry

Molecular Diagnostics

Microbiology

Hematology

Coagulation and Hemostasis

Urinalysis

Other IVD Technologies

End-Use Outlook (Revenue, USD Billion; 2017-2027)

Hospitals & Clinics

Diagnostic Laboratories

Homecare Settings

Others

Helping you establish a strong foothold in the industry

The In-Vitro Diagnostics report highlights set of information related to pricing and the category of customers who are more than willing to pay for certain products and services. The information on opportunities as well as product features, determine which offerings or benefits command sale and identify the communications channels used by the  market leaders to create premium positioning strategies  as well as attract broadest share.

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The research provides answers to the following key questions:

What is the estimated size of the In-Vitro Diagnostics market for the forecast period, 2020 – 2027? What will be the growth rate of the industry during the estimated period?

What are the prominent driving forces likely to impact the progress of the industry across different regions?

Who are the major market players occupying a strong foothold in the In-Vitro Diagnostics market? What are the winning strategies adopted by them to stay ahead in the competition?

What are the potential opportunities for the In-Vitro Diagnostics market for the forecast period, 2020 – 2027?

What are the key trends expected to shape the development of the industry over the coming years?

What are the key restraints and challenges likely to hinder the growth of the In-Vitro Diagnostics market worldwide?

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