In-Vitro Diagnostics Market Size Worth USD 118.44 Billion in 2028, According to Latest Study by Emergen Research

The global In-Vitro Diagnostics (IVD) market size is expected to reach USD 118.44 Billion at a steady revenue CAGR of 4.4% in 2028, according to latest analysis by Emergen Research. The surge in the incidence of chronic diseases and infectious diseases is a primary growth driver for this market. For instance, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), around 30 million people in the U.S. suffered from diabetes in 2015. Furthermore, the World Health Organization (WHO) stated that, globally, about 3.4 million people died due to viral hepatitis in 2015. Such rising incidences of diseases are expected to increase the demand for IVD tests, thereby driving market growth.

The increasing government initiatives and funding for disease management and prevention is another major driver for this market's growth. For instance, the Centers for Disease Control and Prevention (CDC) provides funding to the state and local governments for developing and strengthening their public health workforce and infrastructure. Such initiatives are expected to create a positive impact on market growth.

In addition, the growing trend of personalized medicine is projected to drive market growth over the forecast period. Personalized medicine is an emerging field of healthcare that uses an individual's genetic information to diagnose, treat, and prevent diseases. This approach is expected to improve disease management and patient outcomes.

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The rising adoption of point-of-care (POC) testing is another factor expected to boost market growth over the forecast period. POC testing is a type of diagnostic test that can be performed outside traditional laboratory settings. It is generally used for the detection of infectious diseases, such as influenza and HIV. POC testing is quick, convenient, and cost-effective, which is expected to increase its adoption over the forecast period.

However, the high cost of IVD tests is a key restraint for market growth. In addition, stringent government regulations regarding the approval of IVD tests are expected to challenge market growth over the forecast period.

Advancements in technology have resulted in the development of several new and innovative in-vitro diagnostics (IVD) products. These products have helped to improve patient care by providing quicker and more accurate test results. Also, the use of IVD products has resulted in reduced healthcare costs.

Some Key Highlights from the Report

• In July 2021, Ortho Clinical Diagnostics, Inc., a global leader of in vitro diagnostics, announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of two new tests for use on the Vitros® XT 7600 Integrated System: the Ortho SARS-CoV-2 Antigen test for qualitative detection of SARS-CoV-2 viral nucleocapsid antigens in direct nasopharyngeal swab specimens from individuals with suspected COVID-19, and the Ortho SARS-CoV-2 Antibody (IgG) test for qualitative detection of antibodies against SARS-CoV-2 in human serum or plasma.
• Some of the major IVD products available in the market include blood tests, urine tests, pregnancy tests, and cancer diagnostics. Blood tests are used to detect various infections and disorders such as HIV/AIDS, hepatitis, syphilis, and malaria. Urine tests are used to detect kidney and bladder infections, as well as to monitor diabetes. Pregnancy tests are used to determine the presence of the hCG hormone in a woman's urine, which indicates pregnancy. Cancer diagnostics help to identify various types of cancer, such as breast cancer, lung cancer, and colon cancer.
• Infectious diseases segment revenue is expected to expand at the fastest rate during the forecast period due to the high prevalence of infectious diseases and the increasing demand for in-vitro diagnostics tests for their early diagnosis.
• The oncology segment is expected to register the highest CAGR over the forecast period due to the rising prevalence of cancer, availability of new and improved cancer diagnostic tests, and growth in government initiatives to increase cancer awareness.
• The Reagent segment is expected to register the fastest revenue CAGR during the forecast period due to the rising demand for reagent-based in-vitro diagnostics tests.
• The blood testing segment is expected to register the highest revenue CAGR over the forecast period due to the high prevalence of diseases that can be diagnosed using blood tests, such as HIV, hepatitis, and diabetes.
• Geographically, North America is projected to be the largest market for in-vitro diagnostics, followed by Europe. The large share of North America can be attributed to the high prevalence of chronic diseases, well-developed healthcare infrastructure, and the presence of major market players in the region.
• Asia Pacific is expected to register the highest revenue growth over the forecast period due to the increasing prevalence of chronic diseases, growing awareness about the early diagnosis of diseases, and the expansion of the healthcare industry in the region.
• Some major companies operating in the market include Siemens Healthineers, Roche Diagnostics, Danaher Corporation, bioMérieux, Abbott Laboratories, DiaSorin, Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, QIAGEN, and Sysmex Corporation.

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Emergen Research has segmented the global in-vitro diagnostics market on the basis of product, devices, application, technique, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)

• Reagents & Kits
• Instruments
  1. Fully Automated Instruments
  2. Semi-Automated Instruments
• Data Management Software
• Services

Devices Outlook (Revenue, USD Billion; 2018–2028)

• Reusable IVD Devices
• Disposable IVD Devices

Application Outlook (Revenue, USD Billion; 2018–2028)

• Cancer
• Infectious Diseases
• Diabetes
• Gastrointestinal Disease
• Autoimmune Diseases
• Cardiac Disease
• Drug Testing /Pharmacogenomics
• HIV/AIDS
• Nephrological Disease
• Others

Technique Outlook (Revenue, USD Billion; 2018–2028)

• Immunoassay
  1. Enzyme-Linked Immunosorbent Assay
     1. Chemiluminescence Immunoassays
     2. Fluorescence Immunoassays
     3. Colorimetric Immunoassays
  2. Radioimmunoassay
  3. Rapid Test
  4. Western Blotting
  5. Enzyme-Linked Immunospot Assay
• Clinical Chemistry
  1. Basic Metabolic Panel
  2. Electrolyte Panel
  3. Liver Panel
  4. Lipid Profile
  5. Renal Profile
  6. Thyroid Function Panel
  7. Specialty Chemical Tests
• Molecular Diagnostics
  1. Polymerase Chain Reaction
  2. Isothermal Nucleic Acid Amplification Technology
  3. Microarray
  4. Hybridization
  5. DNA Sequencing & Next-Generation Sequencing
  6. Other Molecular Diagnostics Technologies
• Microbiology
• Hematology
• Coagulation and Hemostasis
• Urinalysis
• Other IVD Technologies

End-use Outlook (Revenue, USD Billion; 2018–2028)

• Hospitals & Clinics
• Diagnostic Laboratories
• Homecare Settings
• Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

• North America
  1. U.S.
  2. Canada
  3. Mexico
• Europe
  1. Germany
  2. U.K.
  3. France
  4. Spain
  5. BENELUX
  6. Rest of Europe
• Asia Pacific
  1. China
  2. India
  3. Japan
  4. South Korea
  5. Rest of APAC
• Latin America
  1. Brazil
  2. Rest of LATAM
• Middle East & Africa
  1. Saudi Arabia
  2. UAE
  3. Israel
  4. Rest Of MEA

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