Press Release

Global In-Vitro Diagnostics market is expected to grow at a CAGR of 5.1% during 2024-30

According to the MarkNtel Advisors’ research report, “Global In-Vitro Diagnostics Market Analysis, 2024," the market is expected to grow USD 115 billion by 2022, with growing CAGR of 5.1% during 2024-30. A growing number of people who succumb to infectious and non-infectious diseases coupled with the surging levels of disposable income are factors propelling the In-Vitro Diagnostics market growth. The In-Vitro diagnostics market has experienced immense appreciation across the world owing to its prompt and effective diagnosis. However, an inadequate reimbursement scheme for in-vitro diagnosis is the biggest challenge that could hinder the market growth.

Key questions answered in the study

1. What are the current and future trends in the Global In-Vitro Diagnostics market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global In-Vitro Diagnostics market?
5. What is the customer orientation, purchase behavior, and expectations from the Global In-Vitro Diagnostics market service provider across various regions?

Hospitals and Clinics Segment Holds the Largest Market Share

Based on the End-User, the market segments are Diagnostic Laboratories, Hospitals, and Clinics, Academic and Medical Schools, Point of Care Testing. Among these segments, Hospitals & Clinics accounted for the largest share in the Global In-vitro Diagnostics market in the previous few years owing to rising patient footfall at hospitals & clinics requiring a tremendous amount of diagnostic devices & testing for enhancing their health. Moreover, the increasing trend of the collaboration of diagnostic centers & hospitals further contributes to hospital-based in-vitro diagnostic tests.

“Global In-Vitro Diagnostics Market Analysis, 2024” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for In-Vitro Diagnostics providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

North America Exhibits Fastest Growth

North America held the largest share in the Global In Vitro Diagnostics Market during historical years and is likely to continue its dominance during the forecasted period as well. This is due to the rising incidence of diseases & mounting consumer awareness regarding the availability of diagnostic devices. Besides, the region's advanced healthcare infrastructure, significant healthcare expenditure, and a well-established system for disease diagnosis & management also drive the demand for IVD products across the region, further infusing the North America In Vitro Diagnostics (IVD) Market size in the ensuing years.

According to MarkNtel Advisors, the major leading players in the global In-Vitro Diagnostics market are BioMerieux SA, Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Siemens Healthineers AG, Qiagen, Quidel Corporation, Hoffmann-La Roche AG, Sysmex Corporation, Danaher Corporation.

Market Segmentation:

1. By-Products and Services (Reagents & Kits, Instruments, Data Management Software & Techniques)
2. By Application (Infectious Diseases, Cancer/Oncology, Cardiology, Nephrology, Diabetes, Autoimmune Diseases, Drug Testing, HIV)
3. By Technique (Immunoassay, Hematology, Clinical Chemistry, Molecular Diagnostics, Tissue Diagnostics, Coagulation & Hemostasis, Microbiology, Urinalysis)
4. By End-User (Diagnostic Laboratory, Hospitals & Clinics, Academic & Medical Institutes, Point of Care Testing)
5. By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific)
6. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Italy, Germany, France, Russia, Spain, Saudi-Arabia, South-Africa, China, India, Japan, South-Korea, Australia)