USD 117.8 billion
In-Vitro Diagnostics Market Size, Share, Growth Analysis, By Product Type(Instruments & Reagents, Software, and Services), By Specimen(Blood, CSF, Urine, Blood Fluid), By Technology(Immunoassays, Clinical Chemistry, Molecular diagnostics, Hematology), By Test Type(Laboratory Tests, and Point-Of-Care Tests), By Vertical(Hospitals & Clinics, Clinical Laboratories, Blood Banks, Home Care Settings), By Application(Infectious Diseases, Diabetics, Oncology, Nephrology), By Product Type(), By Specimen(), By Technology(), By Test Type(), By Vertical(), By Application(), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35G2015 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
124
|Figures:
77
In-Vitro Diagnostics Market Insights
The global in-vitro diagnostics market size was valued at USD 83.50 Billion in 2022 and is poised to grow from USD 87.93 Billion in 2023 to USD 132.90 Billion by 2031, growing at a CAGR of 5.3% during the forecast period (2024-2031).
In-vitro diagnostics refers to the tests performed in test tubes or similar lab equipment to detect diseases using samples from a living organism such as humans. High incidence of chronic diseases and growing demand for early and better diagnostics around the world are also projected to bolster the sales of in-vitro diagnostics products in the future. Growing investments in medical R&D and advancements in in-vitro technologies are also slated to play in the hands of in-vitro diagnostics companies going forward. Rapidly expanding senescent population, increasing demand for disease testing, and rising use of personalized medicine are other factors that offer lucrative opportunities for in-vitro diagnostics providers. However, high costs of development, stringent regulatory mandates, and limited reimbursement are slated to be the top constraints for in-vitro diagnostics demand outlook in the long run.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Reagents & Kits, Services
Fastest Growth
Reagents & Kits, Services
Growth Rate
3.3% CAGR
Global In-Vitro Diagnostics Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
In-Vitro Diagnostics Market Segmental Analysis
The global in-vitro diagnostics market is segmented by product type, specimen, testing type, application, technology, end user and region. Based on Product type, the market can be segmented into Instrument & Reagents, Software, and Services. Based on technology, the market is segmented into Immunoassays, Clinical chemistry, Molecular diagnostics, Hematology, Microbiology, and Others. Based on specimen, the market is segmented into blood, CSF, urine, blood fluid, and others. Based on test type, the market is segmented into laboratory tests and point-of-care tests. Based on application, the market is segmented into infectious diseases, Diabetics, Oncology, Nephrology, Cardiology, Autoimmune Diseases, Drug Monitoring & Testing, and Other. Based on the end user, the market is segmented into hospitals & clinics, clinical laboratories blood banks, home care settings, pharmaceutical & biotechnology companies, academic institutes, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Specimen
Blood specimen accounts for the highest share of the global in-vitro diagnostics market. This dominance can be attributed to the high number of blood tests available in the market and the high reliability of results obtained from blood specimens. Blood samples provide a wide array of information on several factors, and this is why they are preferred by most medical professionals and researchers around the world, thereby contributing to a dominant market share.
Meanwhile, the demand for in-vitro diagnostics utilizing urine specimens is projected to increase at a rapid pace going forward. Easy collection and growing incidence of urinary tract infections around the world are key factors that help this segment emerge as the fastest growing one. Urine samples are also being preferred for their early detection capabilities as compared to other specimens.
Analysis by Test Type
Lab tests are projected to account for a major chunk of the global in-vitro diagnostics market share. These tests are performed in massive numbers around the world and cater to almost all healthcare establishments ranging from clinics to research institutes. Growing investments in the development of healthcare infrastructure worldwide are also expected to contribute to this segment's dominance.
On the other hand, the demand for point-of-care tests is projected to rise at a rapid CAGR over the coming years. Increasing adoption of homecare and rapidly rising aging population are contributing to in-vitro diagnostics market growth via this segment. Rising demand for easy testing from home is also creating new opportunities for in-vitro diagnostics companies in this segment.
Global In-Vitro Diagnostics Market By Test Type
To get detailed analysis on other segments, Request For Free Sample Report
In-Vitro Diagnostics Market Regional Insights
The presence of developed healthcare infrastructure and key diagnostics providers allows North America to hold a dominant market share. Growing investments in R&D of novel diagnostics and the rising popularity of homecare in this region are also expected to boost sales of in-vitro diagnostics products in the future. Favorable regulatory environment and rising adoption of advanced diagnostics technologies are making the United States a key market for in-vitro diagnostics companies operating in North America.
Growing investments in healthcare infrastructure development and rising demand for advanced diagnostic solutions are helping Asia Pacific become the most opportune market in the world. China, Japan, and India are slated to be the most lucrative markets for in-vitro diagnostics companies in this region owing to growing senescent population and high prevalence of chronic diseases. Rising awareness regarding the benefits of in-vitro diagnostics in this region will also create new business opportunities going forward.
Global In-Vitro Diagnostics Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
In-Vitro Diagnostics Market Dynamics
Drivers
Expanding Geriatric Population
-
Aging people are more susceptible to different kinds of diseases and require regular testing to keep them healthy. This is why as aging population increases around the world, it is also expected to boost the demand for in-vitro diagnostics and other types of diagnostics products in the future.
Advancements in Diagnostics Technologies
-
Robust investments in medical R&D have led to the development of novel diagnostic technologies such as molecular diagnostics, genetic testing, etc. Growing adoption of these advanced diagnostics technologies is slated to promote in-vitro diagnostics market growth in the future.
Restraints
High Costs of Advanced Diagnostics
-
Developing and offering advanced in-vitro diagnostics is quite a capital-intensive task as it involves the use of advanced equipment and products. These high costs limit accessibility to in-vitro diagnostics thereby slowing down market development.
Strict Regulatory Mandates
-
In-vitro diagnostics products and services are subject to highly stringent regulatory norms and mandates. Not all companies can comply with these norms without having to significantly invest in R&D, this reduces profit margins and inhibits in-vitro diagnostics demand outlook as well.
Request Free Customization of this report to help us to meet your business objectives.
In-Vitro Diagnostics Market Competitive Landscape
Investing in the research and development of advanced in-vitro diagnostics solutions will be a top priority for all market players. Increasing affordability of in-vitro diagnostics tests should also be a key focus for in-vitro diagnostics providers. Launching new in-vitro diagnostics products and tests will help companies stay competitive and stand out in the global market. Providing favorable reimbursement for in-vitro diagnostics will also be a crucial aspect for business expandion in the long run.
Top Player’s Company Profiles
- Roche Diagnostics (Switzerland)
- Danaher Corporation (U.S.)
- Abbott Laboratories (U.S.)
- Becton, Dickinson and Company (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- QIAGEN N.V. (Netherlands)
- Quidel Corporation (U.S.)
- Siemens Healthineers (Germany)
- Sysmex Corporation (Japan)
- Thermo Fisher Scientific, Inc (U.S.)
- bioMérieux SA (France)
- Agilent Technologies, Inc. (U.S.)
- DiaSorin S.p.A (Italy)
- Illumina, Inc. (U.S.)
- Hologic, Inc. (U.S.)
- Devyser PerkinElmer Inc. (U.S.)
- Chembio Diagnostics, Inc. (U.S.)
- Surmodics, Inc. (U.S.)
- Menarini Silicon Biosystems (Italy)
- SpeeDx Pty. Ltd. (Australia)
Recent Developments
-
A new in vitro serological ELISA kit was launched recently in August 2024. InBios International was behind this new launch that was aimed at presumptive clinical laboratory diagnosis of Strongyloides infection.
-
In June 2024, Cupid Limited announced the launch of its extensive distribution network in India for rapid in-vitro diagnostics kits. This move helped Cupid secure and strengthen its presence in the Indian diagnostics market.
In-Vitro Diagnostics Key Market Trends
Home Testing Kits: The prospect of home care is becoming more attractive and common worldwide. In-vitro diagnostics companies can focus on the development of test kits that can be used at home easily without medical supervision to maximize their revenue generation and capitalize on the growing popularity of homecare around the world.
In-Vitro Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising prevalence of chronic diseases and advancements in diagnostics technologies are slated to primarily drive in-vitro diagnostics demand. However, high costs of development and stringent regulatory norms are estimated to slow down in-vitro diagnostics market development in the future. North America remains the market with the highest share owing to the presence of key in-vitro diagnostics providers and a robust healthcare infrastructure. Developing in-vitro diagnostics kits for homecare applications will be a major trend for all in-vitro diagnostics companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 83.50 Billion |
| Market size value in 2031 | USD 132.90 Billion |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on In-Vitro Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on In-Vitro Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the In-Vitro Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the In-Vitro Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the In-Vitro Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the In-Vitro Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
