Global In-Vitro Diagnostics Market Size to Hit USD 202.91 Billion by 2033 | Straits Research
The global in-vitro diagnostics market size was valued at USD 115.79 billion in 2024 and is projected to reach from USD 125.45 billion in 2025 to USD 202.91 billion by 2033, growing at a CAGR of 6.19% during the forecast period (2025-2033).
New York, United States, Oct. 07, 2024 (GLOBE NEWSWIRE) -- In-vitro diagnostics, or IVD, are medical devices and reagents used to examine body fluids and tissues to diagnose diseases, conditions, and infections. In-vitro diagnostics use PCR, microarrays, sequencing, and mass spectrometry. These technologies make test samples. In vitro diagnosis also uses clinical chemistry, tissue diagnostics, immunodiagnostics, and hematology. In clinical chemistry, laboratory tests include liver panel tests, lipid profiles, and thyroid function tests. Thyroid function tests also draw blood. Blood is tested for thyroid-stimulating hormone (TSH). HIV, hepatitis, and others can be detected using polymerase chain reaction (PCR). Innovations in IVD products, service designs, and technology have encouraged doctors and researchers to abandon traditional diagnostic methods and personalized medicines. This change is due to personalized medicine. The rise in chronic and infectious diseases is the main factor driving the growth of the in-vitro diagnostics market. The growing population of older adults prone to immune system dysfunctions also contributes to market growth. Personalized medicine's use in treating persistent diseases like cancer also contributes to market growth. Expanding in vitro diagnostic products, technologies, software, and services contributes to market growth.
Download Free Sample Report PDF @ https://straitsresearch.com/report/in-vitro-diagnostics-market/request-sample
Market Dynamics
Rising Chronic and infectious Disease Sufferers and Technological Advancement Drives the Global Market
In the current economy, chronic diseases like TB, cancer, CVD, and diabetes have increased. Infectious diseases such as digestive, respiratory, and STDs have also increased (sexually transmitted diseases). Increased disease prevalence is expected to drive demand for diagnostic devices, which drives the vitro diagnostics market. Heart disease and diabetes increase the demand for in vitro diagnostics: genetics, lifestyle, and diet cause diabetes and obesity. Rapid urbanization and dietary changes are spreading these diseases rapidly. According to the American Diabetes Association, smoking, alcohol, refined carbohydrates (white rice), decreased physical activity, inadequate nutrition, and a westernized diet and lifestyle contribute to the diabetes epidemic. Chronic liver disease causes inflammation, cirrhosis, and hepatocellular carcinoma. The liver also produces coagulation proteins. Decompensated liver cirrhosis patients have impaired synthetic function or cannot synthesize proteins. This condition requires prompt medical attention and a professional diagnosis. Rising diabetes rates drive market growth.
In the past, only clinical laboratories used IVD technology. In the past, pregnancy tests were done in clinics. Urine samples can be placed on test sticks and used at home. These tests are precise, quick, and accessible. Glucometers can check blood glucose levels. A mouth swab with a diagnostic device can be used to perform an HIV test at home. Home HIV testing is also possible. In the past, blood samples were drawn and analyzed in clinical laboratories. Digital pathology is one recent advancement in conventional methods. Recent technological advances enabled these changes. Pathology lab diagnostics use cutting-edge digital instruments. Digital pathology requires glass slides. Digital pathology solutions turn glass slides into digital ones. Advancements in IVD's conventional technologies are driving market growth. These developments boost the global in-vitro diagnostics market.
Potential Outsourcing Creates Tremendous Opportunities
Because IVD tests are performed outside the patient's body, they are less complicated methods for testing a sample. IVD tests are currently performed in public hospitals; however, as hospitals increasingly contract out their pathology work to private laboratories, the role of private laboratories has grown. Outsourcing these tests to laboratories is a current trend in Germany, and it is expected to continue for some time. Private labs and international laboratory chains are introducing new regulations in emerging markets where they operate to expand their networks in various regions. Because many hospitals send their IVD testing to private laboratories, private laboratories have many opportunities in the gnostics market.
Regional Analysis
North America is the highest revenue contributor, growing with a CAGR of 3.5% during the forecast period. This is partly because of a large patient population and the early adoption of advanced IVD techniques for disease diagnosis. A large aging population in North America has led to steady growth in the in-vitro diagnostics market. Growth in infectious and chronic diseases is a significant factor in the region's In-vitro diagnostics market. As a result, rising cancer rates are expected to fuel the expansion of this industry in the region. In addition, the market's expansion is aided by significant efforts to raise awareness about the importance of early cancer detection.
Asia-Pacific is the second-largest contributor to the market and is estimated to reach around USD 36,799.92 million at a CAGR of 8.1% during the forecast period. An increasing number of elderly residents in the area is an important growth factor for the market. Chronic diseases like cancer are becoming more common among the elderly, which explains the rise in the number of people in their golden years—the market for in vitro diagnostics. In addition, rising healthcare costs and advances in cancer screening technology are expected to boost the market over the next few years.
To Gather Additional Insights on the Regional Analysis of the In-Vitro Diagnostics Market @ https://straitsresearch.com/report/in-vitro-diagnostics-market/request-sample
Key Highlights
Based on the product, the global in-vitro diagnostics market has been categorized into reagents, instruments, and services & software.The reagents segment is the highest contributor to the market, growing at a CAGR of 4.3% during the forecast period.
Based on the technique, the global in-vitro diagnostics market has been categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, and clinical chemistry.The clinical chemistry segment is the highest contributor to the market, growing at a CAGR of 4.0% during the forecast period.
Based on the application, the global in-vitro diagnostics market has been categorized into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, and gastrointestinal diseases. The Infectious diseasessegment is the highest contributor to the market, growing at a CAGR of 6.7% during the forecast period.
Based on the End-usertype, the global in-vitro diagnostics market has been categorized into standalone laboratories, hospitals, academics & medical schools, and point-of-care. The standalone laboratories segment is the highest contributor to the market, growing at a CAGR of 4.3% during the forecast period.
North America is the highest revenue contributor, growing with a CAGR of 3.5% during the forecast period.
Competitive Players
Roche Diagnostics
Siemens Healthineers
Abbott Laboratories
Danaher Corporation
Thermo Fisher Scientific
bioMérieux
Becton, Dickinson and Company (BD)
Qiagen
Hologic, Inc.
Sysmex Corporation
PerkinElmer, Inc.
Bio-Rad Laboratories
Cepheid
Illumina, Inc.
Myriad Genetics
Agilent Technologies
Grifols
Recent Developments
January 2024- ELITechGroup launched the CE-IVDR certified GI Bacterial PLUS ELITe MGB Kit, enhancing its IVD portfolio with precise detection of major gastrointestinal bacterial pathogens like Campylobacter spp., Clostridium difficile, and Salmonella spp.
Segmentation
By Product and Services
Reagents & Kits
Instruments
Data Management Software
Services
By Technology
Immunoassays
Clinical Chemistry
Molecular Diagnostics
Hematology
Microbiology
Coagulation & Hemostasis
Urinalysis
Chromatography & Mass Spectrometry
By Applications
Infectious Diseases
Oncology
Endocrinology
Cardiology
Blood Screening
Genetic Testing
Autoimmune Diseases
Allergy Diagnostics
Drug Monitoring & Testing
Bone & Mineral Disorders
Coagulation Testing
Blood Group Typing
Other Applications
By End-User
Hospital & Clinics
Clinical Laboratories
Home Care Settings
Pharmaceutical & Biotechnology Companies
Other End Users
By Region
North America
Europe
Asia Pacific
Middle East And Africa
Latin America
Get Detailed Market Segmentation @ https://straitsresearch.com/report/in-vitro-diagnostics-market/segmentation
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter