In Vitro Diagnostics Market

In Vitro Diagnostics Market by Product & Service (Instruments, Kits, Software), Technology (Immunoassay, Hematology, Urinalysis), Specimen (Blood, Saliva), Test Type, Application (Oncology, Autoimmune, CVD, Infectious Diseases) & Region - Global Forecast to 2029

Report Code: MD 3609 Mar, 2024, by marketsandmarkets.com

The global in vitro diagnostics market in terms of revenue was estimated to be worth $85.2 billion in 2024 and is poised to reach $119.4 billion by 2029, growing at a CAGR of 6.9% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Growth in the in vitro diagnostics (IVD) market is driven by growing prevalence of chronic & infectious diseases, the increasing geriatric population in developed and developing regions, and rising demand for point-of-care testing.

However, an unfavorable reimbursement scenario will restrain the growth of the IVD market to a certain extent during the forecast period.

Attractive Opportunities in the In Vitro Diagnostics Market

In Vitro Diagnostics Market

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In Vitro Diagnostics Market

In Vitro Diagnostics Industry Dynamics

DRIVER: Increasing geriatric population and subsequent rise in chronic & infectious diseases

With the rapid growth in the geriatric population globally, the prevalence of age-associated diseases is expected to increase significantly. According to the United Nations Department of Economic and Social Affairs (UN DESA) at the world level in 2022, approximately 10 per cent of people worldwide are aged 65 or over. The proportion of older persons in the world is projected to reach nearly 12 per cent in 2030 and 16 per cent in 2050.

With age, the risk of developing diseases increases proportionately—for instance, nearly 80% of the elderly population in the US suffers from at least one chronic condition (Source: CDC). According to the National Council On Aging (NCOA) research, 94.9% percent of adults aged 60 and older have at least one condition, while 78.7% have two or more.

Having high blood cholesterol raises the risk for heart disease, the leading cause of death, and for stroke, the fifth leading cause of death. Diabetes is another chronic disease that affects the senior population since this population is prone to endocrine disorders due to hormonal fluctuations. Hence, the growth in the geriatric population is expected to increase the prevalence of several chronic conditions worldwide and drive the growth of the IVD market.

RESTRAINT: Unfavourable reimbursement

Medicare does not currently provide genetic testing coverage for individuals without a history of cancer. Similarly, according to MedPAC (Medicare Payment Advisory Commission), medical testing has seen a 40% decline in reimbursement over the last 40 years. This decline and additional budgetary concerns among healthcare systems will be a major obstacle to implementing novel diagnostic techniques in clinical laboratories. Besides, the rules governing reimbursement have been tightened in a number of European nations. The restrictions are severe, particularly for creators of innovative diagnostics whose coverage assessment procedure is opaque and differs throughout insurers. The standards for the caliber of evidence required for reimbursement are unclear to inventors of novel diagnostics. This has led to inefficiencies in the creation of innovative diagnoses and a commensurate rise in needless R&D expenses. These changes in the reimbursement scenario are expected to adversely affect growth of the IVD market.

OPPORTUNITY: Growth opportunities in emerging markets

Major players in the IVD industry should expect growth opportunities from developing economies including India, Brazil, China, South Korea, Turkey, Russia, South Africa, and Mexico. This can be attributed to the high disease prevalence, large patient population, improved healthcare infrastructure, increasing disposable income, and growing medical tourism in these countries.

The incidence of tropical diseases, such as Zika, malaria, and chikungunya, has increased significantly in these countries, with South American nations accounting for the highest number of cases. However, the Asia Pacific has emerged as an adaptive and business-friendly hub due to its relatively less-stringent regulations and data requirements. Currently, China is one of the largest investors in R&D. Moreover, various market players are strategically expanding their product portfolios across emerging countries through product launches & approval, collaborations, and expansion. This will support the installation of diagnostic systems in laboratories and contribute to the adoption of IVD.

CHALLENGE: Operational Barriers

Clinical laboratories across major markets are still evolving; technicians face operational challenges in ensuring effective sample procurement, storage, and transportation, especially while adopting novel technologies such as NGS and lab-on-a-chip PCR devices. Laboratory space also needs to be reconfigured to meet the requirements of conducting specific diagnostic tests used for pathogen detection to avoid cross-contamination and ensure efficient time management. This results in considerable cost escalation to maintain and operate advanced molecular diagnostic instruments, particularly those capable of handling a single sample type.

However, the shortage of skilled laboratory technicians to operate advanced diagnostic products has hindered overall adoption of in vitro diagnostics, particularly in emerging markets.

In Vitro Diagnostics Industry Ecosystem/Market Map

In Vitro Diagnostics Market Ecosystem

Blood, serum, and plasma segment accounted for the largest share of the in vitro diagnostics industry in 2023, by specimen.

Based on specimen, the IVD market is segmented into blood, serum, and plasma, urine, saliva, and other specimens. The blood, serum, and plasma segment accounted for the largest share in the IVD market in 2023. The significant share of the segment can be attributed to the growing number of blood donations. Also, blood is the most widely collected sample for IVD diagnostic procedures, and these are preferred for overall health screening as they provide information on various health conditions, such as genetic disorders, cardiovascular diseases, cancer, and diabetes.

Hospital & clinics segment accounted for the largest share in the in vitro diagnostics industry in 2023, by end user.

Based on end user, the IVD market is segmented into hospital & clinics, clinical laboratories, blood banks, home care settings, pharmaceutical & biotechnology companies, academic institutes, and other end users. In 2023, hospital & clinics accounted for the largest share in the IVD market. Rising number of patient admissions due to infectious diseases have increased the adoption and use of in vitro diagnostic tests across hospital laboratories, thereby driving the market growth.

North America accounted for the largest share of the in vitro diagnostics industry in 2023.

Based on region, the IVD market is segmented into six major regions—North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the GCC Countries. In 2023, North America accounted for the largest share in the IVD market. The large share of this region in the global IVD market is mainly attributed to the highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments. However, healthcare coverage expansions made by Medicare, Medicaid, and private health insurance companies in the region are also expected to play a significant role in fuelling the growth of the IVD market.

In Vitro Diagnostics Market by Region

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The major players in this market are Roche Diagnostics (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), and Thermo Fisher Scientific.These players’ market leadership is due to their comprehensive product portfolios and expansive global footprint. These dominant market players have several advantages, including strong research and development budgets, strong marketing and distribution networks, and well-established brand recognition.

Scope of the In Vitro Diagnostics Industry

Report Metric

Details

Market Revenue in 2024

$85.2 billion

Projected Revenue by 2029

$119.4 billion

Revenue Rate

Poised to Grow at a CAGR of 6.9%

Market Driver

Increasing geriatric population and subsequent rise in chronic & infectious diseases

Market Opportunity

Growth opportunities in emerging markets

This research report categorizes the In Vitro Diagnostics Market to forecast revenue and analyze trends in each of the following submarkets:

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
  • GCC Countries

By Product & Service

  • Reagents & Kits
  • Instruments
  • Data Management Software and Services

By Technology

  • Immunoassays
  • Clinical Chemistry
  • Molecular Diagnostics
  • Hematology
  • Microbiology
  • Coagulation & Hemostasis
  • Urinalysis
  • Chromatography & Mass Spectrometry

By Specimen

  • Blood, Serum, and Plasma
  • Saliva
  • Urine
  • Other Specimens

By Application Split

  • Infectious Diseases
  • Oncology
  • Endocrinology
  • Cardiology
  • Blood Screening
  • Genetic Testing
  • Autoimmune Diseases
  • Allergy Diagnostics
  • Drug Monitoring & Testing
  • Bone & Mineral Disorders
  • Coagulation Testing
  • Blood Group Typing
  • Other Applications

By End User

  • Hospital & Clinics
  • Clinical Laboratories
  • Blood Banks
  • Home Care Settings
  • Pharmaceutical & Biotechnology Companies
  • Academic Institutes
  • Other End Users

Recent Developments of In Vitro Diagnostics Industry:

  • In December 2023, Thermo Fisher launched the applied Biosystems MagMAX Dx Viral/Pathogen NA Isolation Kit and the Thermo Scientific KingFisher Apex Dx, an automated nucleic acid purification device, for the separation and purification of bacterial and viral pathogens from respiratory biological specimens.
  • In November 2023, Roche launched a Elecsys Anti-HEV IgM and Elecsys Anti-HEV IgG immunoassays for the detection of hepatitis E virus (HEV) infections in countries accepting the CE mark .
  • In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world’s major markets.
  • In August 2022, Roche launched a Digital LightCycler System, a digital polymerase chain reaction (PCR) system. This system is a powerful new diagnostics platform combatting cancer and other diseases.
  • In November 2022, Danaher Corporation launched the Xpert Xpress MVP, a multiplexed PCR test.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
           1.7.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH DATA 
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
    2.4 MARKET RANKING ANALYSIS 
    2.5 STUDY ASSUMPTIONS 
    2.6 RISK ASSESSMENT 
    2.7 LIMITATIONS 
    2.8 GROWTH RATE ASSUMPTIONS 
    2.9 RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 PRICING ANALYSIS* 
           5.3.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY PRODUCT
           5.3.2 AVERAGE SELLING PRICE TREND, BY REGION
    5.4 VALUE CHAIN ANALYSIS* 
    5.5 SUPPLY CHAIN ANALYSIS* 
    5.6 ECOSYSTEM ANALYSIS 
    5.7 PORTER’S FIVE FORCES ANALYSIS 
    5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS 
    5.9 REGULATORY LANDSCAPE* 
           5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND ORGANIZATIONS
    5.10 TECHNOLOGY ANALYSIS* 
           5.10.1 KEY TECHNOLOGIES
                    5.10.1.1 IMMUNOASSAY
                    5.10.1.2 MOLECULAR DIAGNOSTICS
           5.10.2 COMPLIMENTARY TECHNOLOGIES
                    5.10.2.1 PCR
           5.10.3 ADJACENT TECHNOLOGIES
                    5.10.3.1 MULTIPLEXED POINT-OF-CARE TESTING (XPOCT)
                    5.10.3.2 NUCLEIC ACID LATERAL FLOW IMMUNOASSAY (NALFIA)
    5.11 TRADE DATA ANALYSIS* 
           5.11.1 IMPORT SCENARIO
           5.11.2 EXPORT SCENARIO
    5.12 PATENT ANALYSIS* 
    5.13 KEY CONFERENCES & EVENTS IN 2024-2025* 
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA* 
           5.14.1 KEY STAKEHOLDERS & BUYING PROCESS
           5.14.2 BUYING CRITERIA
 
*Information provided in these segments might not be very exhaustive. This information will be provided on a best-effort basis and availability of data during the primary and secondary research.
 
6 IN VITRO DIAGNOSTICS MARKET, BY PRODUCT & SERVICE (USD MILLION, 2021, 2022, 2023, 2028,2029) 
    6.1 INTRODUCTION 
    6.2 REAGENTS & KITS 
    6.3 INSTRUMENTS  
    6.4 DATA MANAGEMENT SOFTWARE AND SERVICES 
 
7 IN VITRO DIAGNOSTICS MARKET, BY TECHNOLOGY (USD MILLION, 2021, 2022, 2023, 2028, 2029) 
    7.1 INTRODUCTION 
    7.2 IMMUNOASSAYS 
           7.2.1 ENZYME-LINKED IMMUNOSORBENT ASSAYS (ELISA)
           7.2.2 CHEMILUMINESCENCE IMMUNOASSAYS
           7.2.3 IMMUNOFLOURESCENCE ASSAYS
           7.2.4 RAPID TESTS
           7.2.5 WESTERN BLOTTING
           7.2.6 ENZYME-LINKED IMMUNOSPOT ASSAYS (ELISPOT)
           7.2.7 OTHER IMMUNOASSAY TECHNOLOGIES
    7.3 CLINICAL CHEMISTRY 
           7.3.1 BASIC METABOLIC PANELS
           7.3.2 LIVER PANELS
           7.3.3 RENAL PROFILES
           7.3.4 LIPID PROFILES
           7.3.5 THYROID FUNCTION PROFILES
           7.3.6 ELECTROLYTE PANELS
           7.3.7 SPECIALYTY CHEMICAL TESTS
    7.4 MOLECULAR DIAGNOSTICS 
           7.4.1 POLYMERASE CHAIN REACTION
           7.4.2 ISOTHERMAL NUCLEIC ACID AMPLICATION TECHNOLOGY
           7.4.3 DNA SEQUENCING & NEXT-GENERATION SEQUENCING
           7.4.4 IN SITU HYBRIDIZATION
           7.4.5 DNA MICROARRAYS
           7.4.6 OTHER MOLECULAR DIAGNOSTIC TECHNOLOGIES
    7.5 HEMATOLOGY 
    7.6 MICROBIOLOGY 
    7.7 COAGULATION & HEMOSTATSIS 
    7.8 URINALYSIS 
    7.9 CHROMATOGRAPHY & MASS SPECTROMETRY 
 
8 IN VITRO DIAGNOSTICS MARKET, BY SPECIMEN (USD MILLION, 2021, 2022, 2023, 2028, 2029) 
    8.1 INTRODUCTION 
    8.2 BLOOD, SERUM, AND PLASMA 
    8.3 SALIVA 
    8.4 URINE 
    8.5 OTHER SPECIMENS 
 
9 IN VITRO DIAGNOSTICS MARKET, BY TEST TYPE (USD MILLION, 2021, 2022, 2023, 2028, 2029) 
    9.1 INTRODUCTION 
    9.2 LABORATORY TESTS 
    9.3 POINT OF CARE TESTS 
 
10 IN VITRO DIAGNOSTICS MARKET, BY APPLICATION (USD MILLION, 2021, 2022, 2023, 20210, 2029) 
     10.1 INTRODUCTION 
     10.2 INFECTIOUS DISEASES 
     10.3 ONCOLOGY 
     10.4 ENDOCRINOLOGY 
     10.5 CARDIOLOGY 
     10.6 BLOOD SCREENING 
     10.7 GENETIC TESTING 
     10.8 AUTOIMMUNE DISEASES 
     10.9 ALLERGY DIAGNOSTICS  
     10.10 DRUG MONITORING AND TESTING 
     10.11 BONE & MINERAL DISORDERS 
     10.12 COAGULATION TESTING 
     10.13 BLOOD GROUP TYPING 
     10.14 OTHER APPLICATIONS 
 
11 IN VITRO DIAGNOSTICS MARKET, BY END USER (USD MILLION, 2021, 2022, 2023, 2028, 2029) 
     11.1 INTRODUCTION 
     11.2 HOSPITAL & CLINICS 
     11.3 CLINICAL LABORATORIES 
             11.3.1 LARGE REFERENCE LABORATORIES
             11.3.2 SMALL & MEDIUM-SIZED LABORATORIES
     11.4 BLOOD BANKS 
     11.5 HOME CARE SETTINGS 
     11.6 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES 
     11.7 ACADEMIC INSTITUTES 
     11.8 OTHER END USERS 
 
12 IN VITRO DIAGNOSTICS MARKET, BY REGION (USD MILLION, 2021, 2022, 2023, 2028, 2029) 
     12.1 INTRODUCTION 
     12.2 NORTH AMERICA 
             12.2.1 RECESSION IMPACT
             12.2.2 US
             12.2.3 CANADA
     12.3 EUROPE 
             12.3.1 RECESSION IMPACT
             12.3.2 GERMANY
             12.3.3 UK
             12.3.4 ITALY
             12.3.5 FRANCE
             12.3.6 SPAIN
             12.3.7 RUSSIA
             12.3.8 SWITZERLAND
             12.3.9 REST OF EUROPE
     12.4 ASIA PACIFIC 
             12.4.1 RECESSION IMPACT
             12.4.2 CHINA
             12.4.3 JAPAN
             12.4.4 INDIA
             12.4.5 AUSTRALIA
             12.4.6 SOUTH KOREA
             12.4.7 REST OF ASIA PACIFIC
     12.5 LATIN AMERICA 
             12.5.1 RECESSION IMPACT
             12.5.2 BRAZIL
             12.5.3 MEXICO
             12.5.4 REST OF LATIN AMERICA
     12.6 MIDDLE EAST & AFRICA 
             12.6.1 RECESSION IMPACT
     12.7 GCC COUNTRIES 
             12.7.1 RECESSION IMPACT
             12.7.2 UAE
             12.7.3 KINGDOM OF SAUDIA ARABIA
             12.7.4 REST OF GCC COUNTRIES
 
13 COMPETITIVE LANDSCAPE 
     13.1 OVERVIEW 
     13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
     13.3 REVENUE SHARE ANALYSIS 
     13.4 MARKET SHARE ANALYSIS 
     13.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
             13.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
     13.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
             13.6.5 COMPETITIVE BENCHMARKING : STARTUPS/SMES, 2023
     13.7 BRAND COMPARISON 
     13.8 COMPETITIVE SCENARIO 
             13.8.1 PRODUCT LAUNCHES
             13.8.2 DEALS
             13.8.3 OTHER DEVELOPMENTS
 
14 COMPANY PROFILES 
(Business Overview, Products Offered, Recent Developments, MnM View)*
     14.1 MAJOR PLAYERS 
             14.1.1 ROCHE DIAGNOSTICS
             14.1.2 DANAHER CORPORATION
             14.1.3 ABBOTT LABORATORIES
             14.1.4 SIEMENS HEALTHINEERS
             14.1.5 SYSMEX CORPORATION
             14.1.6 THERMO FISHER SCIENTIFIC, INC.
             14.1.7 BECTON, DICKINSON AND COMPANY
             14.1.8 BIOMERIUX SA
             14.1.9 BIO-RAD LABORATORIES, INC.
             14.1.10 AGILENT TECHNOLOGIES, INC.
             14.1.11 QIAGEN N.V.
             14.1.12 QUIDELORTHO CORPORATION
             14.1.13 DIASORIN S.P.A
             14.1.14 ILLUMINA, INC.
             14.1.15 HOLOGIC, INC.
             14.1.16 REVVITY
             14.1.17 GRIFOLS S.P.A
             14.1.18 WERFEN
     14.2 OTHER PLAYERS 
             14.2.1 DEVYSER
             14.2.2 CHEMBIO DIAGNOSTICS, INC.
             14.2.3 SURMODICS, INC.
             14.2.4 MENARINI SILICON BIOSYSTEMS
             14.2.5 SPEEDX PTY. LTD
             14.2.6 GENSPEED BIOTECH GMBH
             14.2.7 ACCELERATE DIAGNOSTICS, INC.
             14.2.8 MERCK KGAA
             14.2.9 CARIS LIFE SCIENCES, INC.
             14.2.10 CELLABS
             14.2.11 J. MITRA & CO. PVT. LTD.
             14.2.12 EPITOPE DIAGNOSTICS
             14.2.13 BOSTER BIOLOGICAL TECHNOLOGY
             14.2.14 ENZO BIOCHEM
             14.2.15 GENETIC SIGNATURES
             14.2.16 SAVYON DIAGNOSTICS
             14.2.17 TRIVITRON HEALTHCARE
             14.2.18 MDXHEALTH
             14.2.19 CREATIVE DIAGOSTICS
             14.2.20 INBIOS INTERNATIONAL, INC.
             14.2.21 MACCURA BIOTECHNOLOGY, CO., LTD.
             14.2.22 VELA DIAGNOSTICS
             14.2.23 ARKRAY, INC.
 
15 APPENDIX
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.3 AVAILABLE CUSTOMIZATIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 
 
Note:  
 
The segmentation given may change depending upon research findings. 
The list of companies mentioned above is indicative only and may change as per further research findings. Key 41 companies will be profiled in this section. Details on overview, products, financials, strategy & development might not be captured in the case of unlisted companies. 
Years considered for the study would be Historical year – 2021 and 2022, Base Year – 2023, Estimated ‘’Year – 2024, Forecast Period – 2024 to 2029

The objective of the study is to analyze the key market dynamics such as drivers, opportunities, challenges, restraints, and key player strategies. To track company developments such as product launches and approvals, expansions, and collaborations of the leading players, the competitive landscape of the in vitro diagnostics market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments the market breakdown and data triangulation were used.

The four steps involved in estimating the market size are

Collecting Secondary Data

The secondary research data collection process involves the usage of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), annual reports, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the in vitro market. A database of the key industry leaders was also prepared using secondary research.

Collecting Primary Data

The primary research data was conducted after acquiring knowledge about the in vitro diagnostics market scenario through secondary research. A significant number of primary interviews were conducted with stakeholders from both the demand side (such as hospital directors, clinic personnel, and Research scientists) and supply side (such as included various industry experts, such as Directors, Chief X Officers (CXOs), Vice Presidents (VPs) from business development, marketing and product development teams, product manufacturers, wholesalers, channel partners, and distributors) across major countries of North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and GCC countries. Approximately 45% of the primary interviews were conducted with stakeholders from the demand side while those from the supply side accounted fosr the remaining 55%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.

A breakdown of the primary respondents is provided below:

In Vitro Diagnostics Market Size, and Share

Note 1: Others include sales, marketing, and product managers.

Note 2: Tiers of companies are defined based on their total revenue. As of 2023, Tier 1 = >USD 5 billion, Tier 2 = USD 500 million to USD 5 billion, and Tier 3 = <USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

COMPANY NAME

DESIGNATION

Abbott Laboratories

Head of Marketing

Danaher Corporation

Director of Research and Development

Thermo Fisher Scientific

Sales Manager

Siemens Healthineers

VP Marketing

Market Size Estimation

All major product manufacturers offering various in vitro diagnostics were identified at the global/regional level. Revenue mapping was done for the major players and was extrapolated to arrive at the global market value of each type of segment. The market value of in vitro diagnostics market was also split into various segments and subsegments at the region and country level based on:

  • Product and services mapping of various manufacturers for each type of in vitro diagnostics market at the regional and country-level
  • Relative adoption pattern of each IVD market among key application segments at the regional and/or country-level
  • Detailed primary research to gather qualitative and quantitative information related to segments and subsegments at the regional and/or country level.
  • Detailed secondary research to gauge the prevailing market trends at the regional and/or country level

Global In Vitro Diagnostics Market Size: BottonmUp Approach

In Vitro Diagnostics Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global In Vitro Diagnostics Market Size: Top Down Approach

In Vitro Diagnostics Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the in vitro diagnostics industry.

Market Definition

IVD tests are non-invasive tests performed to diagnose, monitor, screen, and assess diseases and health conditions. IVD has a broad scope ranging from sophisticated technologies performed in clinical laboratories to simple and easy-to-use rapid testing kits.

Key Stakeholders

  • IVD Instrument Manufacturers
  • Hospitals and Clinics
  • Research Institutes
  • Distributors of IVD Products

Report Objectives

  • To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To define, describe, segment, and forecast the in vitro diagnostics market by product & service, by specimen, by technology, by test type, application, end user, and region
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall IVD market
  • To forecast the size of the in vitro diagnostics market in six main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Latin America, Middle East & Africa, and GCC Countries.
  • To profile key players in the IVD market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments, such as product launches and approvals; expansions; and collaborations, of the leading players in the in vitro diagnostics market
  • To benchmark players within the IVD market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

Available Customizations

MarketsandMarkets offers the following customizations for this market report

Country Information

  • Additional country-level analysis of the in vitro diagnostics market

Company profiles

  • Additional three company profiles of players operating in the in vitro diagnostics market.

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company in the in vitro diagnostics market
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
MD 3609
Published ON
Mar, 2024
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