The global In Vitro Diagnostics (IVD) Market is estimated to be valued at US$ 80682.76 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
In vitro diagnostics products include medical kits and reagents used to perform medical tests on samples collected from the human body like blood, urine, and tissue. These tests can help in disease detection, diagnosis, and treatment monitoring.
Market key trends:
The rising geriatric population which is more prone to chronic diseases such as cancer and cardiovascular diseases is driving the growth of the in vitro diagnostics market. According to the United Nations, the number of people aged 65 years or above was estimated to be 703 million globally in 2019 and it is projected to double to 1.5 billion by 2050. Furthermore, introduction of AI and big data analytics is enabling improved disease diagnosis, drug discovery and personalized medicine. For instance, AI can help detect patterns and insights in large and complex medical data that may be missed by humans. This is expected to boost the usage of in vitro diagnostic tests.
Segment Analysis
The global in vitro diagnostics (IVD) market is dominated by reagents and kits segment, accounting for over 50% share of the total market. Reagents and kits play a crucial role in various IVD tests as they help to detect the presence, absence or concentration of various biomolecules in samples collected from patients. The demand for reagents is consistently high due to their recurrent nature of purchase and increased volume of tests being performed globally.
Key Takeaways
The Global In Vitro Diagnostics (IVD) Market Demand is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing prevalence of chronic and infectious diseases.
Regional analysis
Europe dominated the global IVD market in 2023, accounting for over 30% share, followed by North America. This is attributed to rising healthcare expenditure, presence of major players, and continuously growing elderly population in countries like Germany, UK and Italy driving the regional market growth. Asia Pacific is expected to witness highest growth rate over the forecast period owing to increasing demand for accurate diagnostic solutions, improving healthcare infrastructure and rising medical tourism in countries like China, India and Japan.
Key players
Key players operating in the in vitro diagnostics (IVD) market are Siemens Healthineers, Sysmex Corporation, Bio-Rad Laboratories, bioMerieux 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. The market is highly fragmented with the presence of several global and regional players. The key players are focusing on new product launches, expansions and acquisitions to gain greater market share.
In vitro diagnostics are tests that can detect diseases, conditions, or infections.
Some tests are used in laboratory or other health professional settings and other tests are for consumers to use at home.In Vitro Diagnostic (IVD) tests are a subset of medical devices.
In vitro diagnostic tests are used for in vitro examination of specimens derived from the human body to provide information for screening, diagnosis, or treatment monitoring purposes.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-in-vitro-diagnostic-s-2019-2024-708According to this study, over the next five years the In Vitro Diagnostic (IVD) Products market will register a 6.8% CAGR in terms of revenue, the global market size will reach US$ 91480 million by 2024, from US$ 65820 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in In Vitro Diagnostic (IVD) Products business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of In Vitro Diagnostic (IVD) Products market by product type, application, key manufacturers and key regions and countries.This study considers the In Vitro Diagnostic (IVD) Products value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.Immuno DiagnosticsChemistry DiagnosticsMolecular DiagnosticsPOCTOtherSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.HospitalsLaboratoryOtherThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.The key manufacturers covered in this report: Breakdown data in in Chapter 3.RocheAbbottDanaherSiemens HealthineersThermo Fisher ScientificSysmexBiomerieuxOrtho Clinical DiagnosticsBecton DickinsonBio-Rad LaboratoriesHologicJohnson and JohnsonQiagenMyriad GeneticsWondfoKHBDAAN GeneLeadman BiochemistryMindrayBioSinoIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global In Vitro Diagnostic (IVD) Products consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of In Vitro Diagnostic (IVD) Products market by identifying its various subsegments.Focuses on the key global In Vitro Diagnostic (IVD) Products manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the In Vitro Diagnostic (IVD) Products with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of In Vitro Diagnostic (IVD) Products submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/life-sciences/global-in-vitro-diagnostic-s-2019-2024-708Table of content2019–2024 Global In Vitro Diagnostic (IVD) Products Consumption Market Report1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global In Vitro Diagnostic (IVD) Products Consumption 2014–20242.1.2 In Vitro Diagnostic (IVD) Products Consumption CAGR by Region2.2 In Vitro Diagnostic (IVD) Products Segment by Type2.2.1 Immuno Diagnostics2.2.2 Chemistry Diagnostics2.2.3 Molecular Diagnostics2.2.4 POCT2.2.5 Other2.3 In Vitro Diagnostic (IVD) Products Consumption by Type2.3.1 Global In Vitro Diagnostic (IVD) Products Consumption Market Share by Type (2014–2019)2.3.2 Global In Vitro Diagnostic (IVD) Products Revenue and Market Share by Type (2014–2019)2.3.3 Global In Vitro Diagnostic (IVD) Products Sale Price by Type (2014–2019)2.4 In Vitro Diagnostic (IVD) Products Segment by Application2.4.1 Hospitals2.4.2 Laboratory2.4.3 Other2.5 In Vitro Diagnostic (IVD) Products Consumption by Application2.5.1 Global In Vitro Diagnostic (IVD) Products Consumption Market Share by Application (2014–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
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.
