The North America market is expected to hold a dominant position in the global in-vitro diagnostics market share during the forecast period. Presence of Major Companies and Favorable Policies to Boost the North America Market Quick Buy - In vitro Diagnostics Market Research Report: The market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The clinical laboratories segment held a dominant share of the market in 2022 as the total volume of diagnostics procedures being carried out at these medical centers is growing at a notable rate each year. The infectious disease segment accounted for the largest share in the market in 2022 due to the rising prevalence of these ailments across the world.Ĭlinical Laboratories to Increase Use of IVDs to Keep Up with Rising Testing Volumeīased on end-user, the market is divided into clinical laboratories, physician's offices, hospitals, and others. In terms of application, the market is divided into cardiology, infectious diseases, gastroenterology, oncology, and others.
Rising Cases of Infectious Diseases to Expand IVD Application Areas These tests can only be carried out in laboratories with the help of highly trained medical staff. The laboratories segment captured a dominating market share in 2022 as the demand for specialized and sensitive diagnostic tests is rising. In terms of setting, the market is segmented into point-of-care and laboratories. Growing Demand for Specialized Tests to Boost Product Usage in Laboratories The molecular diagnostics segment is expected to capture the largest share of the market during the forecast period as the incidence of infectious diseases is rising across the globe. Rising Incidence of Infectious Diseases to Accelerate Adoption of Molecular Diagnostic Devicesīased on technique, the market is segmented into immunodiagnostics, clinical chemistry, molecular diagnostics, hematology, and others. The reagents & consumables segment held the dominant market share in 2022 due to notable surge in the adoption of POC tests, self-testing kits, and many other advanced solutions in in-vitro diagnosis. Growing Production of Innovative Products to Boost the Demand for Reagents & Consumablesīased on product type, the market is segmented into instruments and reagents & consumables. However, high instrument cost can hinder the market growth in developing countries. (Italy), Quest Diagnostics Incorporated (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Sysmex Corporation (Japan), Siemens Healthineers AG (Germany), BD (Becton, Dickinson, and Company) (U.S.), Seegene Inc. Hoffmann-La Roche Ltd (Switzerland), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. “Companies leading the global In vitro diagnostics market are F. The market is estimated to record the highest CAGR over the forecast period.ĭiscover the Leading Players Featured in the Report: The market in North America was valued at USD 36.77 billion in 2022. The increasing adoption of point-of-care testing devices and rising prevalence of chronic diseases are major factors driving the market growth. Increasing research and government funding are supporting the development of innovative products that further propel the market growth.
September 2022 - Takara Bio Europe announced its partnership with BioeXsen GmbH to distribute in-vitro diagnostics solutions to detect common pathogens found in respiratory tract infections with the help of a qPCR test. Such factors will boost the in-vitro diagnostics market growth.įortune Business Insights™ displays this information in a report titled, "Global In-Vitro Diagnostics Market, 2023-2030." As per the British In-Vitro Diagnostic Association, these tests can influence nearly 70% of all clinical decisions. In-Vitro Diagnostics (IVD) play a vital role in the early detection of a wide range of infectious and chronic diseases, which can significantly improve a patient’s survival rate. Pune, India, J(GLOBE NEWSWIRE) - According to Fortune Business Insights, global In vitro Diagnostics Market size was valued at USD 94.67 billion in 2022 and is projected to grow from USD 97.12 billion in 2023 to USD 157.02 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period.
As per the report by Fortune Business Insights, the global In vitro Diagnostics Market size is projected to reach USD 157.02 billion in 2030, at a CAGR of 7.1% during the forecast period, 2023-2030
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