In Vitro Diagnostics Market Size to Reach USD 111.3 billion by 2030, at a 2.2% CAGR | MRFR
Research Reports
Apr 19, 2023
In Vitro Diagnostics Market Research Report, By Product & Services (Reagents & Kits, Instruments, Data management software), By Applications (Infectious Diseases, Non-infectious diseases), By End User – Forecast till 2030
The in vitro diagnostics (IVD) market is a large and rapidly growing industry that includes a wide range of tests and technologies used to diagnose and monitor diseases and conditions in patients. In vitro diagnostics refer to tests that are performed outside of the body, usually on a sample of blood, urine, or tissue.
In Vitro Diagnostics Market is projected to reach USD 111.3 billion by 2030 at 2.2% CAGR during the forecast period 2022-2030. The growth of this market can be attributed to factors such as the rising prevalence of chronic and infectious diseases, the increasing demand for personalized medicine, and the growing adoption of point-of-care testing.
The IVD market includes several segments, such as clinical chemistry, immunochemistry, microbiology, hematology, and molecular diagnostics. Among these, molecular diagnostics is expected to be the fastest-growing segment, with a CAGR of over 9% during the forecast period. This is due to the increasing use of molecular diagnostic tests for infectious diseases, cancer, and genetic disorders.
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Key Players
Some of the key players in the IVD market include Roche Diagnostics, Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific, and Siemens Healthineers. These companies are focusing on product launches, partnerships, and collaborations to expand their market presence and increase their revenue.
Market Segmentation
The in vitro diagnostics (IVD) market can be segmented based on various factors, such as technology, product type, application, end-user, and geography. Here are some of the common market segmentation categories:
Technology: Clinical chemistry, Immunochemistry, Hematology, Molecular diagnostics, Microbiology, Others (coagulation, cytology, histology, etc.)
Product type: Instruments, Reagents, Software and services
Application: Infectious diseases, Cancer, Cardiology, Diabetes, Autoimmune diseases, Others (neurology, drug testing, etc.)
End-user: Hospitals and clinics, Diagnostic laboratories, Academic and research institutes, Others (blood banks, home healthcare, etc.)
Geography: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
These market segmentation categories can be further sub-divided into more specific segments depending on the particular industry research and the scope of the analysis. Understanding these segments can provide insights into the various trends, growth drivers, challenges, and opportunities in the IVD market.Top of Form
Regional Analysis
The in vitro diagnostics (IVD) market is a global industry with several regional players. Here are some of the key players in the IVD market by region:
North America: Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corporation, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Hologic, Inc., Quidel Corporation, Luminex Corporation
Europe: Roche Diagnostics, Siemens Healthineers, bioMerieux SA, DiaSorin S.p.A., Sysmex Corporation, Ortho Clinical Diagnostics, Randox Laboratories Ltd., Grifols SA
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Asia-Pacific: Mindray Medical International Limited, F. Hoffmann-La Roche Ltd, Guangzhou Wondfo Biotech Co. Ltd., Sinocare Inc., Transasia Bio-Medicals Ltd., Nipro Corporation, Sysmex Corporation, Beckman Coulter, Inc.
These are just a few examples of the many companies that are active in the IVD market in each region. The IVD market is highly competitive, with many players vying for market share. Companies are investing in research and development to develop new and innovative products that can differentiate them from their competitors.Top of Form
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