Factors such as the increased adoption of PoC IVD devices, rising geriatric population, increasing number of infectious diseases, and growing awareness regarding disease diagnostics are expected to drive the growth of the in-vitro diagnostics market. However, inadequate reimbursement will restrain the growth of in-vitro diagnostics market.
The global in-vitro
diagnostics market size is projected to reach
USD 96.0 billion by 2025 from USD 84.5 billion in 2020, at a CAGR of 2.6%
during the forecast period.
Browse through 262 market data tables and 53 figures spread across 351 pages as well as the
in-depth TOC on "In vitro diagnostics Market "–Global
Forecast to 2025.”
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By-products and services, the reagents & kits segment is expected
to dominate the in vitro diagnostics market in 2020
Based on products and services, the in vitro
diagnostics market has been segmented into regents and kits, instruments, data
management software and services. Within IVD market, reagents and kits accounted for the
largest share and highest growth in 2020. The large share and high growth of this
segment can be attributed to the superior quality of reagents enabling accurate
diagnosis and thus, having high preference amongst the healthcare professionals.
By technology, the immunoassay/immunochemistry segment
accounted for the largest share in the in vitro diagnostics market in 2020
Based on technology, the in vitro diagnostics market
has been segmented into immunoassay/immunochemistry, clinical chemistry,
molecular diagnostics, hematology, microbiology, coagulation & hemostasis,
urinalysis, and other technologies. The immunoassay/immunochemistry
segment accounted for the largest share of in vitro diagnostics market. The large share of this
segment can be attributed to the ability of immunoassay/ immunochemistry
technologies to offer faster results with high sensitivity and accuracy.
By end user, a point-of-care testing segment is expected to grow at the highest
CAGR in the in vitro diagnostics market during the forecast period
Based on end user, the in vitro diagnostics market has been segmented into
hospitals,
laboratories, patient self-testing, academia, point-of-care -testing others. The point-of-care testing segment is estimated
to have enormous growth due to rising availability of highly efficient PoC kits.
Recently launched point-of-care devices offer a precise diagnosis of chronic
diseases that has raised its adoption in laboratories.
Asia
Pacific is expected to grow at the highest CAGR in the in vitro diagnostics
market during the forecast period
The IVD market in the APAC region is projected to register the highest
CAGR of 4.1% during the forecast period. Growth in this region can be
attributed to the huge demand for better healthcare services, increasing
incidence of chronic and infectious diseases, rapid development in the
healthcare infrastructure of developing countries such as India, China, and
South Korea, growing healthcare research investments in this region, and
increasing per capita income of the middle-class population in the region.
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The prominent players in the in vitro diagnostics market include Roche
Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation
(US), Abbott (US), and Thermo Fisher Scientific (US) are the leading players in
this market. Other players in this market are Johnson & Johnson (US),
Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex
Corporation (Japan), bioMérieux (France), DiaSorin (Italy), Ortho-Clinical
Diagnostics (US), and QIAGEN N.V. (Netherlands).
Study
Coverage
This
report describes and studies the global in vitro diagnostics market based on the product
and services, technology, application and end user. It provides detailed
information regarding the major factors influencing the growth of this market.
The report includes an in-depth competitive analysis and the product matrix of
the prominent players in this market along with their company profiles, product
portfolios, recent developments, and key business strategies.
“Brief
information on the research methodology for the report can be found in the
report description provided on the website.”
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