In Vitro Diagnostic (IVD) Products Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Roche, Abbott, Danaher, Siemens Healthineers, Thermo Fisher Scientific

The global In Vitro Diagnostic (IVD) Products market reached a value of US$ 93.01 billion in 2021. Looking ahead, the market is expected to reach $ 72.20 billion by 2027, growing at a CAGR of 6.8% between 2022 and 2027.

In Vitro Diagnostic (IVD) Products Market Overview

In vitro Diagnostics (IVD) are medical devices that use biological samples such as blood, urine, and tissues to perform diagnostic tests. The IVD tests aid in the detection and monitoring of autoimmune disorders, infectious diseases, and a number of other conditions that are used to evaluate pharmacological therapy. In addition, the British In-vitro Diagnostic Association claims that about 70% of clinical choices are influenced by in vitro diagnostics. The NHS spends less than 1% of its annual budget on creating cutting-edge IVD product portfolios.

Some of the key growth accelerators for the overall market expansion are an ageing population and an increase in the prevalence of chronic diseases. Globally, the prevalence of chronic diseases like cancer, TB, cardiovascular disease, and diabetes is rising. Additionally, there are now much more patients with infectious diseases as respiratory, gastrointestinal, and STDs. Due to the increased demand for medical diagnostics, the global market for in vitro diagnostic equipment is expanding. The overall market size is also being driven by the increased use of fully automated and point-of-care equipment in developed nations as well as rising R&D spending to introduce new IVD products. Additionally, technical developments in disease-specific indicators and diagnostics are probably going to offer a lot of growth potential in the next years. Unfavorable reimbursement circumstances, however, are anticipated to restrain market growth in the years to come.

Industry News and Updates:

2021-08-27: Siemens Healthineers inaugurates manufacturing facility for Molecular diagnostic kits in Vadodara, Gujarat --

COVID-19 pandemic has led to a heightened awareness and need for Molecular testing infrastructure in the Country. Siemens Healthineers has announced local manufacturing of molecular testing kits, including COVID-19 testing (IMDX SARS-CoV2 Multiplex RTPCR) as well as other Molecular testing kits in its state-of-art facility at Vadodara, Gujarat.

What are the major Applications, Types and Regions for In Vitro Diagnostic (IVD) Products Market?

Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Immuno Diagnostics


• Chemistry Diagnostics


• Molecular Diagnostics


• POCT


• Other

By Application, it is segmented into

• Hospitals


• Laboratory


• Other

In Vitro Diagnostic (IVD) Products Market Regional Analysis

North American markets were worth USD 35.92 billion in 2021, and it is expected that they will continue to rule the global market during the projected period. The presence of major corporations in the area, including Abbott, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, and Danaher Corporation, as well as appropriate and supportive government regulations, well-established diagnostic infrastructure, and adoption of technologically advanced diagnostic techniques are some of the key factors influencing the region's highest share.

Europe is predicted to hold the second-largest market share for in vitro diagnostics. Due to rising healthcare costs, a solid infrastructure, and a sizable population of people with cancer and infectious diseases, Europe maintains a sizable portion of the market. The market in Asia Pacific is predicted to expand at the greatest CAGR, particularly in growing nations like China, India, South Korea, and Australia. During the years 2022 to 2029, rising per capita healthcare costs and better approval and reimbursement regulations are expected to boost market expansion in Asia Pacific.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The In Vitro Diagnostic (IVD) Products Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global In Vitro Diagnostic (IVD) Products Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our In Vitro Diagnostic (IVD) Products Market report scope?

Key Takeaways from this In Vitro Diagnostic (IVD) Products Market Report

• Evaluate In Vitro Diagnostic (IVD) Products market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the In Vitro Diagnostic (IVD) Products market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of In Vitro Diagnostic (IVD) Products Market?

The In Vitro Diagnostic (IVD) Products Market is growing at a CAGR of 6.8% over the next 5 years.

Who are the key players in In Vitro Diagnostic (IVD) Products Market?

Roche, Abbott, Danaher, Siemens Healthineers, Thermo Fisher Scientific, Biomerieux, Ortho Clinical Diagnostics, Becton Dickinson, Hologic, Johnson and Johnson, Qiagen, Myriad Genetics, Wondfo, KHB, DAAN Gene, Leadman Biochemistry, Mindray, BioSino, Sysmex Corporation, BD (Becton, Dickinson, and Company), Seegene Inc., DiaSorin S.p.A., Quest Diagnostics Incorporated, Bio-Rad Laboratories, Inc.

What are the significant types of In Vitro Diagnostic (IVD) Products Market?

Immuno Diagnostics, Chemistry Diagnostics, Molecular Diagnostics, POCT, Other

What are the major end-use applications of In Vitro Diagnostic (IVD) Products Market?

Hospitals, Laboratory, Other

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