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2032, Vitro Diagnostics (IVD) Market Size | Industry Report 2022

The Vitro Diagnostics (IVD) Market is expected to expand significantly over the coming years, with a stunning worth of $148,393.3 million predicted by 2031. This market boom, with an amazing 6.3% annual growth rate between 2021 and 2031, is caused by a variety of important causes. A growing geriatric population and an increase in the prevalence of chronic diseases are driving up the demand for sophisticated diagnostics. Along with the development of condition-specific treatments and a growing awareness of personalised medications, there is also a growing need for automation in diagnostics. The introduction of minimally invasive and non-invasive diagnostic equipment and techniques, which are revolutionising medical procedures, also benefits the industry.

The rising cost of healthcare as well as the rising demand for point-of-care (POC) testing are further factors driving the IVD market's expansion. These elements work together to give market participants a solid basis, opening the door for large opportunities in the years to come. Stakeholders in the IVD market are well-positioned to profit from this booming industry as the demand for accurate and effective diagnostics continues to increase.

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Global in vitro diagnostics (IVD) market will reach $148,393.3 million by 2031, growing by 6.3% annually over 2021-2031, driven by the increasing prevalence of chronic diseases along with the growing geriatric population, burgeoning demand for automation in diagnostics, the rising development of condition-specific treatment and booming awareness regarding personalized medicines, emergence of minimally invasive and non-invasive diagnostics tools & techniques, the rising healthcare expenditure, and rise in the demand for POC testing.

Highlighted with 84 tables and 96 figures, this 194-page report “Global In Vitro Diagnostics (IVD) Market 2021-2031 by Product (Instruments & Devices, Reagents & Kits, Software & Services), Technology (Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics), Sample Type (Blood, Mucus, Urine), Application (Infectious Diseases, Diabetes, Cancer/Oncology), End User (Diagnostic Labs, Hospitals and Clinics, Homecare, POC), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global in vitro diagnostics (IVD) market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

Market Structure
Growth Drivers
Restraints and Challenges
Emerging Product Trends & Market Opportunities
Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global in vitro diagnostics (IVD) market in every aspect of the classification from perspectives of Product, Technology, Sample Type, Application, End User, and Region.

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Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Instruments & Devices

o             Disposable IVD Devices

o             Reusable IVD Devices

Reagents & Kits
Software & Services

Based on Technology, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Clinical Chemistry
Molecular Diagnostics
Immuno Diagnostics
Tissue Diagnostics
Coagulation and Hemostasis
Other Technologies

, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Other Sample Types

By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Infectious Diseases
Autoimmune Disease
Drug Testing
Other Applications

By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Diagnostic Laboratories
Hospitals and Clinics
Homecare Settings
Point-of-Care (POC) Settings
Other End Users

Geographically, the following regions together with the listed national/local markets are fully investigated:

North America (U.S., Canada, and Mexico)
Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (UAE,Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product, Application and End User over the forecast years are also included.

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The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Abbott Laboratories, Inc.

Agilent Technologies, Inc.

Arkray Inc.

Becton, Dickinson and Company

Biomerieux SA

Bio-Rad Laboratories Inc.

Danaher Corporation

DiaSorin SpA (Luminex Corporation)

Epic Systems Corporation

Hoffmann-La Roche Ltd.

Genpact Limited

Grifols SA

IBM Corporation

Mckesson Corporation

Ortho Clinical Diagnostics Inc.

Qiagen NV

Quest Diagnostics Inc.

Quidel Corporation

Roche Diagnostics

Siemens Healthineers

Sysmex Corporation

Thermo Fisher Scientific Inc.

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