The market research report on in vitro diagnostics (IVD) industry assesses the market demand, use cases & trending scenario for the period ranging from 2013 to 2028. The report highlights the historic developments from 2013 to 2018 & market forecast from 2019 to 2028. Furthermore, the report comprises the current status & future prospects of the market at global as well as regional and country levels. The global IVD market is segmented on the basis of type, application and geography.
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This report also examines various aspects of the in vitro diagnostics industry by assessing the market using value chain analysis. It includes a qualitative narrative on market drivers, market restraints and key industry trends of the IVD industry. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local manufacturers.
By type, the in vitro diagnostics market is segmented as immunodiagnostics, chemistry diagnostics, molecular diagnostics, POCT among others. The market is dominated by immunodiagnostics, whereas molecular diagnostics has emerged as one of the leading and fastest-growing sectors of the IVD industry. Four significant and innovative trends are currently driving the global IVD market: POCT, automation, digitalization, and personalized medicine. In the diagnostics industry, placing diagnostics as close as possible to the patient and healthcare practitioners is a ground-breaking trend. POCT technologies deliver faster results as delays caused by transportation are mitigated. Similarly, there is no need for the preparation of clinical samples, as biochemical test results are available at the point of care. This could help speed up clinical decision making, with improved medical outcomes at lower costs.
On the basis of application analysis of in vitro diagnostics industry, laboratories segment contributed USD 32,156.1 million by revenue and is expected to grow with the highest CAGR of 7.3% over the forecast period through 2028. Most IVD experiments still take place in a laboratory. Many specialties currently have fully automated and advanced equipment, which produce results within minutes of loading the sample. Even the more ‘hands-on’ specialties like microbiology are gradually becoming more streamlined as machinery is created to decrease result time and allow researchers and pathologists to concentrate on results analysis and individual patient care.
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On the basis of regional demarcation of the IVD industry, North America leads the global market both in terms of supply and consumption of IVD solutions. The demand for consumables is significantly high in the market along with that of sophisticated and advanced analyzer technologies. Replacement of obsolete hardware is also prominently witnessed in North America and Europe. Additionally, high levels of outsourcing activities are responsible for the robust transition of the Asia Pacific IVD market. Some of the major factors attributed for the rapid growth of Asia Pacific, Latin America and MEA IVD markets are rapidly evolving healthcare infrastructure, growing disposable incomes, increasing awareness and adoption of POC technologies and so on.
Major players operating in the in vitro diagnostics market are F. Hoffmann-La Roche Ltd., Abbott, Danaher, Siemens Healthcare Private Limited, Thermo Fisher Scientific Inc., Sysmex Corporation, bioMérieux SA, Ortho Clinical Diagnostics, Hologic, Inc., Bio-Rad Laboratories, Inc., BD, and QIAGEN among other prominent players. Several companies competing in the IVD industry have been bulked up, whittled down or left the scene completely over the past few years. Names such as Phadia and Gen-Probe, who had been among the top 20 IVD firms less than a century ago, have now vanished after entering the folds of Thermo Fisher. Cepheid and Beckman Coulter are some other top names that have been acquired and helped push Danaher to strengthen its footprints in the IVD industry.
While players have come and gone in the in vitro diagnostic landscape, Roche Diagnostics has retained its prominence on the global front. But the Swiss giant is facing a fresh reality, like all its other larger competitors, with growing pressure to demonstrate medical value, and a more stringent regulatory climate. Roche Diagnostics has stood firmly in the midst of this changing scene as the number one IVD player in the world driven by development in its biggest company segment, Centralized and Point of Care Solutions (formerly called Professional Diagnostics). The market for professional diagnostics (PD) is that it continues to develop healthily; for more than 10 years it has experienced a 5% rise a year and similar trend is anticipated over the forecast period. The key sub segments of Roche as serum work area [SWA], specialty testing, point of care- all are contributing to the growth of Roche’s IVD market.
In terms of challenges, Adroit Market Research forecasts that IVD companies in Europe will be positioned with additional challenges, with more cutbacks in healthcare budgets. Pricing pressures in the US will also remain in the midst of uncertainty about health care reforms that the Trump administration is seeking to enforce.
Key segments of the global In Vitro Diagnostic (IVD) market
Type Overview, 2015-2025 (USD Million)
- Chemistry Diagnostics
- Molecular Diagnostics
- Point-of-care testing (POCT)
Application Overview, 2015-2025 (USD Million)
- Research and Academics
Regional Overview, 2015-2025 (USD Million)
- North America
- Asia Pacific
- South America
- Middle East & Africa
Some Major Points From TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. In Vitro Diagnostic (IVD) Market Overview, By Type
Chapter 5. In Vitro Diagnostic (IVD) Market Overview, By Application
Chapter 6. In Vitro Diagnostic (IVD) Market Overview, By Region
Chapter 7. Company Profiles
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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