A) Market Overview:
The global In-vitro diagnostics (IVD) market is estimated to be valued at US$ 76,621.8 million in 2022 and is expected to exhibit a CAGR of 5.3% over the forecast period of 2022-2030, as highlighted in a new report published by Coherent Market Insights. In-vitro diagnostics refers to medical devices and laboratory instruments used for the detection of diseases and infections. These products play a crucial role in healthcare by providing accurate and timely results, which aid in diagnosis, treatment, and monitoring of various diseases. The increasing prevalence of chronic and infectious diseases, technological advancements in diagnostic devices, and rising demand for point-of-care testing are driving the growth of the IVD market.
B) Market Key Trends:
The key trend driving the In-vitro diagnostics (IVD) market is the growing adoption of molecular diagnostics. Molecular diagnostics involve the analysis of DNA, RNA, and proteins to detect genetic variations and diseases. This technology provides faster and more accurate results compared to traditional diagnostic methods. The increasing demand for personalized medicine and targeted therapies is fueling the growth of molecular diagnostics. Moreover, advancements in genomics and proteomics are expanding the applications of molecular diagnostics in various disease areas such as oncology, infectious diseases, and genetic disorders. The integration of molecular diagnostics with other diagnostic techniques such as imaging and pathology is also contributing to market growth. Overall, the increasing adoption of molecular diagnostics is expected to drive the growth of the IVD market in the coming years.
Segment Analysis:
The in-vitro diagnostics (IVD) market can be segmented based on product type, technology, application, end-user, and region. Among these segments, the dominating sub-segment is the product type segment, which includes reagents and kits, instruments, and software and services.
Reagents and kits hold the largest market share in the In Vitro Diagnostics Ivd Market. This dominance can be attributed to the increasing number of diagnostic tests being performed globally, as well as the wide range of applications of reagents and kits in various diseases and conditions. Reagents and kits are essential components for conducting diagnostic tests, and their demand is expected to grow due to the rising prevalence of chronic diseases, increasing geriatric population, and advancements in technology.
Key Takeaways:
The global in-vitro diagnostics (IVD) market is expected to witness high growth, exhibiting a CAGR of 5.3% over the forecast period of 2022-2030. This growth can be attributed to several factors. Firstly, the increasing prevalence of chronic and infectious diseases is driving the demand for diagnostic tests and ultimately boosting the growth of the IVD market. Additionally, the growing geriatric population, technological advancements in healthcare, and rising awareness about early disease detection are fueling market growth.
In terms of regional analysis, North America is the fastest growing and dominating region in the IVD market. The region has a well-established healthcare infrastructure, favorable reimbursement policies, and a high adoption rate of advanced diagnostic technologies. Furthermore, the presence of key market players and ongoing research and development activities in the region contribute to its dominance in the market. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the increasing healthcare expenditure, improving healthcare infrastructure, and rising demand for advanced diagnostic tests.
The key players operating in the in-vitro diagnostics (IVD) market are Siemens Healthineers, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux S.A., Becton Dickinson and Company, Danaher Corporation, Abbott Laboratories, F. Hoffmann-la Roche Ltd, QIAGEN N.V., Arkray, Inc., Nittobo Medical Co., Ltd., Medical & Biological Laboratories Co., Ltd., Miraca Holdings Inc., and Mizuho Medy Co., Ltd. These players have a strong market presence and offer a wide range of IVD products. They are actively involved in strategic collaborations, mergers and acquisitions, and product launches to strengthen their market position and cater to the growing demand for diagnostic tests worldwide.
In-Vitro Diagnostics Industry Research Report, By Product & Services (Reagents & Kits, Instruments, Data management software), By Applications (Infectious Diseases,Non-infectious diseases), By End User– Global Forecast Till 2023In vitro diagnostics (IVD) are medical devices used for conducting medical testing of samples taken out of the human or animal body such as blood, urine and tissue.
In its recently published analysis, MRFR also asserts that the market would register a double digit CAGR by the end of assessment period of 2023.Extensive demand for IVD owing to growing demand, ease of use and growing healthcare diagnostic use is a key driving force behind the market.IVD comprises a large and important segment of the healthcare sector and is experiencing rapid spurts of growth owing to technological advancements, greater satisfaction owing to better detection and accuracy, growing demand for treatment monitoring, and explosive availability of over the counter IVD kits.However, the restrictive legal framework in nations like Germany favouring the generic, IUD products and the shift to sensor-based products is constraining the market growth.
The centralized public procurement in many countries is reducing market competition and increasing uncertainty in the industry.Major Players:Players leading the global IVD market include Danaher Corporation, Thermo Fisher Scientific, Grifols S.A, Ortho Clinical Diagnostics, Abbott Laboratories, Qiagen N.V., Sysmex Corporation, BioMérieux S.A, DiaSorin S.p.A, F. Hoffmann-La Roche AG, Siemens AG, Bio-Rad Laboratories Inc., Becton Dickinson and Company, among others.Global In-Vitro Diagnostics (IVD) Market – SegmentsThe report is segmented into three dynamics to widen the scope of understanding,By Product & Services : Reagents & Kits, Instruments, Data Management Software among others.By Technology : Immunoassay/Immunochemistry, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology among others.By Application : Infectious Diseases, Non-Infectious Diseases among others.By End-use : Hospitals, Laboratories, Academic Institutes among others.By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.Browse More Information @ https://www.marketresearchfuture.com/reports/in-vitro-diagnostics-market-1165 Global In-Vitro Diagnostics (IVD) Market – Regional AnalysisNorth America dominates the global IVD market owing to factors such as excellent reimbursement, large healthcare expenditure and compulsory screening regulations.The IVD market in Europe is growing owing to large medical device industry and growing healthcare expenditure.
However, the European market is exhibiting low CAGR growth owing to saturation of the market and the falling price of IUD products.
Germany followed by Italy, France, Spain and the U.K. accounted for the largest markets in Europe.The Asia Pacific IVD market is expected to emerge as the largest market owing to large population.
China, Japan and India are expected to dominate the Asia Pacific market owing to growing economy and manufacturing activities.
At an estimated value of over USD 72.02 billion in 2019, the Global In Vitro Diagnostics (IVD) Market is predicted to thrive at a CAGR of 4.1% and valued at over USD 112.05 billion over the forecast year 2020-2030.In vitro diagnostics (IVD) are the tests for detecting disease and infections.
It is done on samples such as tissue or blood taken from the human body.
The in vitro diagnostics is experiencing a significant popularity in healthcare sector due to its efficacy in diagnosing numerous medical conditions such as infectious diseases, cardiac disorders, cancer, and nephrological disorders.Access Full Description of this report at:- https://www.nextmsc.com/report/in-vitro-diagnostics-ivd-market Top Companies: Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, BioMérieux SA, Sysmex Corporation, Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Thermo Fisher Scientific, Inc and others.The global In vitro diagnostics (IVD) market share is segmented on the basis of product & service, technique, application, end user, and geography.
As per the application, the market is divided into infectious diseases, cancer, immune system disorders, cardiac diseases, nephrological diseases, gastrointestinal diseases, and others.
On the basis of end user, the market is segmented into standalone laboratory, academic & medical schools, hospitals, point of care, and others.
Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.Request sample copy of this report at:- https://www.nextmsc.com/in-vitro-diagnostics-ivd-market/request-sample In terms of geography, North America held major share of the market in 2019.
