The latest publication titled In-vitro Diagnostics Market Size, Share, Trends Analysis Report by Region, Product, Technology, Application, and End-user Forecasts, 2022–2027 has been added to the report store by GlobalData Plc. The in-vitro diagnostics (IVD) market size was valued at USD 95.30 billion in 2021. The rising incidences of chronic as well as infectious diseases and point-of-care testing coupled with innovation in molecular diagnostics will be key driving factors influencing the market to record a CAGR of 4.59% during 2022-2027.
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In-vitro Diagnostics Market Overview
Furthermore, continuous product launches, technological advancement in IVD systems, and the development of novel disease-specific biomarkers will emerge as prominent IVD market trends. However, cumbersome reimbursement scenarios and shifts in the regulatory landscape in the EU are some factors likely to limit the market’s growth during the forecast period.
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In-Vitro Diagnostics Market Segment Highlights
By Product
- Reagents and Kits: The reagents and kits product segment held the largest IVD market share in 2021. The segment’s growth is anticipated to be driven by the popularity of self-test kits and point-of-care devices. Reagents are solutions of highly specific biological or chemical substances that can react with target substances in samples to produce a measurable or visible result. This large market segment is comprised of chemical, biochemical, and complex biological/biochemical reagents.
- Instruments
- Others
By Technology
- Immunoassays: The immunoassay segment held the highest IVD market revenue in 2021 among other technologies and is the fastest-growing IVD technology in forecasted period. The growing preference for IVD technologies over conventional methods in clinical diagnostics, as well as the ability of immunoassay technologies to provide faster results with high sensitivity and accuracy, are driving the growth of this market segment. It is further supported by the continued impact of the COVID-19 pandemic on the market.
- Molecular Diagnostics
- Clinical Chemistry
- Hematology
- Others
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By Application
- Infectious Disease: The infectious disease application segment accounted for the highest share in 2021. The rising prevalence of infectious diseases and multidrug-resistant infectious diseases, and thus the growing need for effective diagnostic tools for these diseases, can be attributed to the large share of this segment.
- Diabetes
- Oncology
- Cardiology
- Others
By End-user
- Hospitals & Laboratories: The hospitals & laboratories end-user segment accounted for the largest share of the market in 2021. The rising number of patients visiting hospitals, the rising number of in-house diagnostics procedures performed in hospitals, and the growing awareness of the importance of early diagnosis are the major driving factors in this market. In addition, many diagnostic tests are performed in hospitals.
- Home Care
- Others
Regional Opportunities
- North America: North America will lead the IVD market throughout the forecast period owing to its fast-paced development and commercialization potential for advanced technologies, and growing developments in molecular diagnostics, genetic testing, and cancer diagnosis. The efficient sales and distribution channels in this region and the regional presence of all the leading market players give North America a leading edge to consistently top the global IVD market.
- Europe
- Asia-Pacific
- ROW
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IVD Market Vendor Landscape
The IVD market vendor landscape is witnessing intensifying competition among established players and emerging start-ups in the industry. The companies are engaging in constant partnerships and acquisitions to ensure their market positions are intact and maintained. The market players are launching innovative solutions to stay up in the game and retain their dominant market positions.
Top IVD players:
- Abbott Laboratories: The company offers PoC analyzers, molecular diagnostic analyzers, and core laboratory products. Key product offerings from the company include i-STAT Alinity, ARCHITECT ci8200, and others. In July 2021, Francisco Partners acquired Starlims from Abbott. Starlims provides informatics products for data and workflow management for laboratories.
- Danaher Corp.: The company caters to the IVD industry by offering a wide range of offerings including AU Series chemistry analyzers, iChemVELOCITY, HemoCue Hb series, and PK7400 automated microplate system analyzers. In July 2021, Beckman Coulter (Part of Danaher) partnered with Fry Laboratories and BioID Genomics to research and develop assays and protocols in the areas of next-generation DNA sequencing.
- Siemens Healthineers AG: The company offers a wide range of products in various categories including clinical chemistry, immunoassay, integrated analyzers, PoC analyzers, molecular diagnostic analyzers, and hematology analyzers. In January 2022, the company collaborated with Cardea. The partnership aims to research next-generation SARS-CoV-2 immunoassay using Cardea’s BPU (Biosignal Processing Unit) platform. Furthermore, In December 2021, the company partnered with Freenome. The research partnership aims to develop blood tests for breast cancer.
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