MarkNtel Advisors recently published a detailed industry analysis of the In Vitro Diagnostics Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
In Vitro Diagnostics Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The In Vitro Diagnostics Market size was valued at around USD 115 billion in 2022 and is estimated to grow at a CAGR of about 5.1% during the forecast period, i.e., 2024-30.
What are the Major Driver of the In Vitro Diagnostics industry?
Rising Geriatric Population to Push the Market Expansion – The aging population is a significant driver in the Global In Vitro Diagnostics (IVD) Market. As the world's population continues to age, the risk of developing age-related diseases & conditions, such as Alzheimer's disease, various types of cancer, and cardiovascular ailments, rises substantially. For instance, according to the United Nations Department of Economic and Social Affairs, as of 2019, over 0.7 billion individuals were aged 65 or above, and the statistics are anticipated to reach about 1 billion by 2030. This demographic shift has created a heightened demand for IVD tests that are essential for the early diagnosis, monitoring, and management of these health issues.
Due to this growing demand for IVD, many companies like Thermofsher, Roche, and others are developing & introducing advanced diagnostic technologies that cater to the specific requirements of an older patient population. Consequently, the aging demographic is expected to be a prominent factor supporting the continued expansion of the IVD Market, as it addresses the healthcare needs of an increasingly elderly global population.
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What segments define the In Vitro Diagnostics market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
· By Product & Service
o Reagents & Kits- Market Size & Forecast 2019-2030, USD Million
o Instruments- Market Size & Forecast 2019-2030, USD Million
o Data Management Software & Techniques - Market Size & Forecast 2019-2030, USD Million
According to report, The Reagents & Kits segment holds a significant share of the In Vitro Diagnostics Market.
· By Technique
o Immunoassay - Market Size & Forecast 2019-2030, USD Million
o Hematology - Market Size & Forecast 2019-2030, USD Million
o Clinical Chemistry - Market Size & Forecast 2019-2030, USD Million
o Molecular Diagnostics - Market Size & Forecast 2019-2030, USD Million
o Tissue Diagnostics - Market Size & Forecast 2019-2030, USD Million
o Coagulation & Hemostasis - Market Size & Forecast 2019-2030, USD Million
o Microbiology- Market Size & Forecast 2019-2030, USD Million
o Urinalysis- Market Size & Forecast 2019-2030, USD Million
· By Application
o Infectious Diseases - Market Size & Forecast 2019-2030, USD Million
o Cancer/Oncology - Market Size & Forecast 2019-2030, USD Million
o Cardiology - Market Size & Forecast 2019-2030, USD Million
o Nephrology - Market Size & Forecast 2019-2030, USD Million
o Diabetes - Market Size & Forecast 2019-2030, USD Million
o Autoimmune Diseases - Market Size & Forecast 2019-2030, USD Million
o Drug Testing- Market Size & Forecast 2019-2030, USD Million
o HIV - Market Size & Forecast 2019-2030, USD Million
According to report, Cancer/Oncology diagnostics represent one of the areas with the highest demand in the In Vitro Diagnostics (IVD) Market.
· By End User
o Diagnostic Laboratory- Market Size & Forecast 2019-2030, USD Million
o Hospitals & Clinics- Market Size & Forecast 2019-2030, USD Million
o Academic & Medical Institutes - Market Size & Forecast 2019-2030, USD Million
o Point of Care Testing - Market Size & Forecast 2019-2030, USD Million
Explore the Complete In Vitro Diagnostics Market Analysis Report – https://www.marknteladvisors.com/research-library/global-in-vitro-diagnostics-market.html
Geographical Analysis: In Vitro Diagnostics Market
o North America
o South America
o Europe
o The Middle East & Africa
o Asia-Pacific
In Vitro Diagnostics Market Share & Competitive Landscape:
The In Vitro Diagnostics Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the In Vitro Diagnostics Market are:
- bioMerieux SA
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson and Company
- Siemens Healthineers AG
- Qiagen
- Quidel Corporation
- F. Hoffmann-La Roche AG
- Sysmex Corporation
- Danaher Corporation
In Vitro Diagnostics Industry Recent Development:
- 2023: Roche collaborated with Ibex and Amazon Web Services to accelerate adoption of AI-enabled digital pathology solutions to help improve cancer diagnoses and these solutions have received CE Mark certification for In Vitro diagnostic (IVD) use in Europe, particularly in the detection of breast & prostate cancers across various diagnostic workflows.
Questions Addressed in this Study
1. What factors are driving the In Vitro Diagnostics Market growth?
2. How is the In Vitro Diagnostics Market expected to grow over the next five years?
3. What are the key insights into the current trends in the In Vitro Diagnostics Market?
4. What is the current size of the In Vitro Diagnostics Market, and how is it projected to change in the future?
6.What is the future outlook for the In Vitro Diagnostics Market in terms of technological advancements and market expansion?
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