The global in vitro diagnostics market size is expected to grow at US$ 125.5 billion by 2030 from valued at US$ 85.3 billion in 2020 with a CAGR of 5.6% during forecast period 2021 to 2030.
The global in vitro diagnostics market size is expected to grow at US$ 125.5 billion by 2030 from valued at US$ 85.3 billion in 2020 with a CAGR of 5.6% during forecast period 2021 to 2030.
Growth Factors
The growth is driven by the growing geriatric population and technological advancements in diagnostics that are supporting its adoption.
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Technological advancements in terms of accuracy, portability, and cost-effectiveness are expected to be one of the high impact rendering drivers of this market. For instance, in June 2017, Agena Bioscience launched the MassARRAY system integrated with CHIP Prep Module in Europe. The system was marketed as a CE-IVD product under Directive 98/79/EC. Moreover, Real-Time Polymerase Chain Reaction (qPCR) is one of the fastest-growing application segments of the in vitro diagnostics (IVD) market.
By Product Analysis
The reagents segment dominated the market for in vitro diagnostic and led for the largest revenue share of 66.3% in 2020. The growth of this segment can be attributed to the increasing demand for rapid, accurate, and sensitive devices.
Equipment and machines that assist in automating the process of diagnosis and bringing reagents and samples together are referred to as analytical instruments. Commercial kits and robots are used in polymerase chain reaction (PCR) laboratories to help detect and quantify infectious microorganisms, blood antigens, and viral load.
Equipment and machines that assist in automating the process of diagnosis and bringing reagents and samples together are referred to as analytical instruments. Commercial kits and robots are used in polymerase chain reaction (PCR) laboratories to help detect and quantify infectious microorganisms, blood antigens, and viral load.
Report Coverage
| Report Scope | Details |
| Market Size | USD 125.5 billion by 2030 |
| Growth Rate | CAGR of 5.6% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Technology, Application, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Abbott, Danaher; bioMérieux SA; Bio-Rad Laboratories, Inc.; Becton; Dickinson and Company; Siemens Healthineers AG; QIAGEN; Quidel Corporation; F. Hoffmann-La Roche AG; Sysmex Corporation; Charles River Laboratories International, Inc.; Quest Diagnostics; Agilent Technologies |
By Application Analysis
The infectious disease segment dominated the market and led for the largest revenue share of 42.8% in 2020, which is attributable to the increasing incidence of infectious diseases such as SARS-CoV-2, HIV, AIDS, tuberculosis, and pneumonia.
Cancer, a chronic disease, is one of the major causes of death globally. The most common types of cancers are colorectal, prostate, breast, and lung. The increasing prevalence of cancer is expected to accelerate the demand for in vitro diagnostic tests.
Alcohol abuse, smoking, unhealthy diet, decreased physical activity, and high blood pressure are expected to increase the risk for cardiovascular diseases. The introduction of PoC devices for quick and on-site diagnosis, especially in emergency cases, is expected to drive the market.
By End-use Analysis
The hospital segment dominated the market and led for the largest revenue share of 45.2% in 2020. This is owing to an increase in hospitalization as doctors require diagnostic interpretation for further treatment. Most often, diagnostic centers operate in collaboration with hospitals; hence, hospitals have their own diagnostic set up.
Home care refers to supportive care provided at home by licensed healthcare professionals, or self-care by patients. Self-care devices account for the majority share of the home care segment. It is more convenient and reduces hospital visits.
Other end-users of in vitro diagnostics are other healthcare settings, laboratories, ambulatory care services, schools, and academic institutions, especially in emergency cases and research institutes. These healthcare institutions mostly perform POC tests for monitoring or detecting diseases.
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By Technology Analysis
The immunoassay segment led the market and accounted for the largest revenue share of 30.8% in 2020. It is anticipated to grow at a lucrative rate in upcoming years owing to its use in the detection of infectious microbes, such as fungus, bacteria, and viruses, by detection of their toxins.
Clinical chemistry is the practical application of biochemistry and is used to analyze body fluids for diagnostic and therapeutic purposes. Serum, plasma, and urine are the most commonly tested samples in pathology. The increasing use of approved blood-gas analyzers to monitor respiratory conditions is expected to fuel the growth of the market for in vitro diagnostic.
The microbiology segment includes tests and assays for the identification of infectious microorganisms. An increase in initiatives by organizations to improve patient outcomes using cost-effective and rapid diagnostic techniques, to help fight antibiotic resistance, is expected to fuel market growth.
By Regional Analysis
North America dominated for the largest revenue share of 42.1% in the IVD market in 2020 and is expected to continue its dominance over the forecast period. This is attributable to the local presence of major market players.
In Asia Pacific, the market is expected to witness the fastest growth over the forecast period, with a CAGR of 6.2%. Asia Pacific consists of developing and developed economies.
Key Players
- Abbott
- Danaher
- bioMérieux SA
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson and Company
- Siemens Healthineers AG
- QIAGEN
- Quidel Corporation
- F. Hoffmann-La Roche AG
- Sysmex Corporation
- Charles River Laboratories International, Inc.
- Quest Diagnostics
- Agilent Technologies
Market Segmentation
- Product
- Instruments
- Reagents
- Services
- Technology
- Immunoassay
- Instruments
- Reagents
- Services
- Hematology
- Instruments
- Reagents
- Services
- Clinical Chemistry
- Instruments
- Reagents
- Services
- Molecular Diagnostics
- Instruments
- Reagents
- Services
- Coagulation
- Instruments
- Reagents
- Services
- Microbiology
- Instruments
- Reagents
- Services
- Others
- Instruments
- Reagents
- Services
- Immunoassay
- Application
- Infectious Disease
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Disease
- Drug testing
- Others
- End-use
- Hospitals
- Laboratories
- Home Care
- Others
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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