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The global in-vitro diagnostics market reached a value of about USD 71.90 billion in 2023. The market is further expected to grow at a CAGR of 4.5% in the forecast period of 2024-2032 to reach a value of approximately USD 106.79 billion by 2032.
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Based on end-use, the point of care (POC) testing segment accounts for a significant share in the in-vitro diagnostics industry. This can be attributed to the development of technology that has made POC testing seamless and quick, thus, making it the first choice of customers. Further, they shorten a 5 step traditional approach to a simple 2 step process, which makes the testing quick as well as cost-effective. The rising demand for convenience is significantly contributing to the growth of the segment.
Region-wise, the Asia Pacific is expected to witness a steady growth over the forecast period owing to the increasing demand for advanced diagnostic facilities, improving healthcare infrastructure, and rising standard of living. Within Asia Pacific, China is one of the key markets for the product. Furthermore, medical inspection revenue has also increased in the region, which, in turn, is leading to an increased demand for IVD products.
In-vitro diagnostics (IVDs) refer to the medical tests performed on blood or tissue samples that have been taken from the human body. In-vitro diagnostics can detect diseases such as HIV and cholera and can be used to keep a check on a patient’s overall health to help cure, treat, or prevent diseases. In-vitro diagnostics are used to identify specific treatments that can give added benefits to patients over other treatments. Furthermore, with advancements in the field of in vitro diagnostics, there has been a growing focus on next-generation sequencing (NGS) tests, which can scan a person’s DNA to detect genomic variations.
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By product and service, the market is divided into:
Based on technology, the industry can be segmented into:
The market is divided based on application into:
On the basis of end use, the industry can be categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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In recent years, in-vitro diagnostics has witnessed a surge in demand owing to the incresaing demand for advanced diagnostic facilities and a dramatic shift towards rapid testing. There has been a rise in the adoption of in-vitro diagnostics like point of care testing, PCR testing, and DNA diagnostics. During times of COVID-19, rapid testing has emerged as the primary method of identifying infected people. Furthermore, the rise in the prevalence of chronic as well as lifestyle disorders is creating a huge market for the in-vitro diagnostics industry.
Over the forecast period, the rapid technological advancements and the increasing focus on safety and accuracy are expected to favour the industry growth. The rise in chronic diseases is expected to further propel the industry forward.
The report gives a detailed analysis of the following key players in the global in-vitro diagnostics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product and Service |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global in-vitro diagnostics market attained a value of nearly USD 71.90 billion.
The market is projected to grow at a CAGR of 4.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 106.79 billion by 2032.
The major drivers of the market include rising population, growing urbanisation, increasing demand for advanced diagnostic facilities and shift towards rapid testing.
Technological advancements and the increasing focus on safety and accuracy are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The product and service types include reagents and kits, instruments, and software and services.
The technological segments are immunodiagnostics, clinical chemistry, molecular diagnostics, haematology, microbiology, coagulation and haemostasis, and urinalysis, among others.
The diverse applications for market are infectious diseases, diabetes, oncology, cardiology, drug testing/pharmacogenomics, HIV/AIDS, autoimmune diseases, and nephrology, among others.
The end users for the industry consist of hospital and clinics, diagnostic laboratories, point-of-care testing, and academic institutes, among others.
The major players in the industry are Danaher Corp, bioMérieux, Inc., Siemens Healthcare GmbH, ARKRAY America, Inc., Sysmex Corporation, and F. Hoffmann-La Roche Ltd, among others.
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