According to the new market research report "In-Vitro Diagnostics Market by Product & Service (Instrument, Kits), Technology (Immunoassay, MDx, Hematology, Urinalysis), Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) End User (Hospitals) - Global Forecast to 2025", published by MarketsandMarkets™, the global IVD 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.
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262 – Tables
53 – Figures
359 – Pages
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Factors such as the increased adoption of PoC IVD
devices, rising elderly population base, and the growing number of infectious
diseases are expected to drive the growth of the IVD Market.
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 IVD Market has
been segmented into regents and kits, instruments, data management software and
services. Within market, reagents and kits accounted for the largest share in
2020. The large share 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 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 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.
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North America holds
the largest share in the market in 2020, followed by Europe
North
America dominates the overall IVD Market based on
region. This can be attributed to the rising geriatric population. Elderly
population has comparatively weaker immunity and, therefore, is more
susceptible to infections and other diseases. Furthermore, the regulatory
scenario is quite stringent in the region that ensures the availability of
defect-free IVD devices in the market that proves beneficial for market growth.
The prominent players in the in vitro diagnostics market include Roche
Diagnostics Limited (Switzerland),
Siemens Healthineers (Germany),
Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific
(US), 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 (Germany).
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