In-Vitro Diagnostics (IVD) Market Segmentation by Product (Reagents & Kits, Instruments, and Services); by Technology (Immunoassay Systems, DNA Analytics/Sequencing, Molecular Diagnostics, Hematology, Tissue Diagnostics, Microbiology, and Others); by Application (Oncology, Cardiology, Autoimmune Diseases, Neurology, Infectious Diseases, Gastroenterology, and Others); and by End-User (Hospitals & Clinics, Research Institutes, Diagnostics Laboratories, and Others)-Global Demand Analysis & Opportunity Outlook 2021-2031

  • Product Code:
    RP-ID-10352392
  • Published Date:
    11 May 2022
  • Region:
    Global
  • Pages:
    221
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Pub-ID-54

Impact Analysis on the Growth of Market

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Market Overview:

Global In-Vitro Diagnostics (IVD) Market Highlights Over 2021 - 2031

The global in-vitro diagnostics (IVD) market is estimated to garner a revenue of USD 135167.7 Million by the end of 2031 by growing at a CAGR of 4.6% over the forecast period, i.e., 2022 – 2031. Moreover, in 2021, the market generated a revenue of USD 87236.4 Million. The growth of the market can be attributed to the rising incidences of chronic diseases as well as different types of infectious diseases, such as SARS-CoV2, HIV, AIDS, tuberculosis, and pneumonia among others, and therefore the need for diagnostic procedures that can help treat these diseases. According to the statistics by the World Health Organization (WHO), more than 15 million people between the ages of 30 and 69 years are known to die each year from non-communicable diseases (NCD). In addition to this, the rising cases of the COVID-19 pandemic, which according to the WHO reported 515192979 confirmed cases and 6254140 deaths as of 5:13pm (CEST), 9 May 2022, which has driven the need for IVD kits and reagents for the accurate and rapid diagnosis of the viral infection are also anticipated to contribute to the market growth.

 

In-Vitro Diagnostics (IVD) Market Analysis

 

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The growth of the market can also be attributed to the rising healthcare expenditure globally and the surge in research and developments in the field of medical sciences. Additionally, the shift in preferences towards point-of-care (PoC) diagnosis over conventional diagnosis procedures, backed by numerous benefits of PoC diagnosis, such as convenience of use, low operational costs and quick analytical results, are also expected to boost the market growth in the coming years.

Global In-Vitro Diagnostics (IVD) Market Regional Synopsis

Regionally, the global in-vitro diagnostics (IVD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America is projected to garner the largest revenue of USD 57175.9 Million by the end of 2031, up from a revenue of USD 36988.2 Million in the year 2021. The growth of the market in the region can primarily be attributed to the presence of a strong healthcare network in the region, rising awareness for in-vitro diagnostics among the individuals as well as healthcare service operators, along with the surge in concern for different types of chronic diseases in the region, especially in the United States. According to the statistics by the Centers for Disease Control and Prevention (CDC), out of 10 adults, 6 adults were known to have a chronic disease in the United States. Furthermore, out of 10 adults, 4 adults were known to have at least 2 or more such diseases in the nation.

On the other hand, the market in Europe is projected to garner the second-largest revenue of USD 36508.8 Million by the end of 2031, up from a revenue of USD 23292.1 Million in the year 2021. The market in the region is further segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The market in Germany is projected to garner the second largest revenue of USD 9017.7 Million by the end of 2031, up from a revenue of USD 5613.4 Million in the year 2021.

Growth Drivers and Challenges Impacting the Growth of the Global In-Vitro Diagnostics (IVD) Market

Growth Drivers

  • Increasing Incidences of Chronic Diseases and Infectious Diseases

  • Surge in Healthcare Expenditure

  • Shift Towards Point-of-Care Diagnosis

Challenges

  • Operational Barriers Faced During Conduction of Diagnostic Tests

  • Dynamic Regulatory Landscape

Global In-Vitro Diagnostics (IVD) Market Segmentation Synopsis

The global in-vitro diagnostics (IVD) market is segmented by product into reagents, instruments, and services. Out of these, the reagents segment is projected to garner the largest revenue of USD 112156.4 Million by the end of 2031, up from a revenue of USD 71786.2 Million in the year 2021. By technology, the market is segmented into immunoassay systems, DNA analytics/sequencing, molecular diagnostics, hematology, tissue diagnostics, microbiology, and others. Out of these, the immunoassay systems segment is projected to garner the largest revenue of USD 39262.8 Million by the end of 2031, up from a revenue of USD 24754.4 Million in the year 2021. By application, the market is segmented into oncology, cardiology, autoimmune diseases, neurology, infectious diseases, gastroenterology, and others. Out of these, the infectious diseases segment is projected to garner the largest revenue of USD 33944.8 Million by the end of 2031, up from a revenue of USD 21378.2 Million in the year 2021. By end-user, the market is segmented into hospitals & clinics, research institutes, diagnostics laboratories, and others. Out of these, the hospitals & clinics segment is projected to garner the largest revenue of USD 64709.2 Million by the end of 2031, up from a revenue of USD 42162.6 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global in-vitro diagnostics (IVD) market that are included in our report are Abbott, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd., Eisai Co., Ltd., Kyowa Kirin Co., Ltd., Sysmex Corporation, Qiagen GmbH, bioMerieux SA, Danaher Corporation, Bio Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Exact Sciences Corporation, Becton, Dickinson and Company, and others.

Latest Developments in the Global In-Vitro Diagnostics (IVD) Market:

  • March 30th, 2021: Becton, Dickinson and Company announced that it has received emergency use authorization (EUA) by the United States Food and Drug Administration (FDA) for its BD Veritor System for Rapid Detection of SARS-CoV-2 & Flu A+B, a new rapid antigen test that can detect SARS-CoV-2, influenza A and influenza B in a single test.

  • December 23rd, 2020: Sysmex Corporation announced that it has received marketing approval for the HISCL IFN-λ3 Assay Kit. This test kit is designed in determining the exacerbation risk in positive patients of SARS-CoV-2.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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FREQUENTLY ASKED QUESTIONS

1.      Market Definition

2.    Assumptions & Acronyms

3.    Research Methodology

4.    Executive Summary

5.     Market Dynamics

6.    Value Chain Analysis

7.     Regulatory & Standards Landscape

8.    Industry Risk Analysis

9.    Pricing Analysis by Product

10.            Impact of COVID-19 on the Global In-Vitro Diagnostics (IVD) Market

11.  Patent Analysis

12.Analysis on End-User of Global In-Vitro Diagnostics (IVD) Market

13.Investment Analysis

14.Industry Growth Outlook

15. Competitive Feature Analysis

16.Competitive Landscape

16.1.                  Market Share Analysis, 2021

16.2.                Company Names

16.2.1.                      Abbott

16.2.1.1.   Detailed Overview

16.2.1.2.  Assessment of Key Offering

16.2.1.3.  Predictive Strategies & Positioning vs. Current Positioning

16.2.1.4.  Analysis on Growth Strategies

16.2.1.5.  Exhaustive Analysis on Key Financial Indicators

16.2.1.6.  Recent Developments

16.2.2.                    Siemens Healthcare GmbH

16.2.3.                    F. Hoffmann-La Roche Ltd.

16.2.4.                    Eisai Co., Ltd.

16.2.5.                     Kyowa Kirin Co., Ltd.

16.2.6.                    Sysmex Corporation

16.2.7.                     Qiagen GmbH

16.2.8.                    bioMerieux SA

16.2.9.                    Danaher Corporation

16.2.10.                Bio Rad Laboratories, Inc.

16.2.11.                  Thermo Fisher Scientific Inc.

16.2.12.                Exact Sciences Corporation

16.2.13.                Becton, Dickinson and Company

17. Global In-Vitro Diagnostics (IVD) Market

17.1.                  Market Overview

17.2.                 By Value (USD Million)

17.3.                 Market Segmentation Analysis 2021-2031

17.3.1.                      By Product

17.3.1.1.    Reagents & Kits

17.3.1.2.  Instruments

17.3.1.2.1.        Semi-Automated Instruments

17.3.1.2.2.      Fully Automated Instruments

17.3.1.3.  Services

17.3.2.                     By Technology

17.3.2.1.  Immunoassay Systems

17.3.2.2. DNA Analytics/Sequencing

17.3.2.3. Molecular Diagnostics

17.3.2.4. Hematology

17.3.2.5. Tissue Diagnostics

17.3.2.6. Microbiology

17.3.2.7. Others

17.3.3.                     By Application

17.3.3.1.  Oncology

17.3.3.2. Cardiology

17.3.3.3. Autoimmune Diseases

17.3.3.4. Neurology

17.3.3.5. Infectious Diseases

17.3.3.6. Gastroenterology

17.3.3.7. Others

17.3.4.                     By End-User

17.3.4.1.  Hospitals & Clinics

17.3.4.2. Research Institutes

17.3.4.3. Diagnostics Laboratories

17.3.4.4. Others

17.3.5.                     By Region

17.3.5.1.   North America

17.3.5.2. Europe

17.3.5.3. Asia Pacific

17.3.5.4. Latin America

17.3.5.5.  Middle East & Africa

18.North America In-Vitro Diagnostics (IVD) Market

18.1.                  Market Overview

18.2.                By Value (USD Million)

18.3.                Market Segmentation Analysis 2021-2031

18.3.1.                      By Product

18.3.1.1.   Reagents & Kits

18.3.1.2.  Instruments

18.3.1.2.1.       Semi-Automated Instruments

18.3.1.2.2.      Fully Automated Instruments

18.3.1.3.  Services

18.3.2.                    By Technology

18.3.2.1.  Immunoassay Systems

18.3.2.2.                        DNA Analytics/Sequencing

18.3.2.3.                        Molecular Diagnostics

18.3.2.4.                        Hematology

18.3.2.5. Tissue Diagnostics

18.3.2.6.                        Microbiology

18.3.2.7. Others

18.3.3.                    By Application

18.3.3.1.  Oncology

18.3.3.2.                        Cardiology

18.3.3.3.                        Autoimmune Diseases

18.3.3.4.                        Neurology

18.3.3.5. Infectious Diseases

18.3.3.6.                        Gastroenterology

18.3.3.7. Others

18.3.4.                    By End-User

18.3.4.1.  Hospitals & Clinics

18.3.4.2.                        Research Institutes

18.3.4.3.                        Diagnostics Laboratories

18.3.4.4.                        Others

18.3.5.                     By Country

18.3.5.1.  United States

18.3.5.2. Canada

19.Europe In-Vitro Diagnostics (IVD) Market

19.1.                  Market Overview

19.2.                By Value (USD Million)

19.3.                Market Segmentation Analysis 2021-2031

19.3.1.                      By Product

19.3.2.                    By Technology

19.3.3.                    By Application

19.3.4.                    By End-User

19.3.5.                     By Country

19.3.5.1.  Germany

19.3.5.2. United Kingdom

19.3.5.3. France

19.3.5.4. Italy

19.3.5.5. Spain

19.3.5.6. Russia

19.3.5.7. Rest of Europe

20.          Asia Pacific In-Vitro Diagnostics (IVD) Market

20.1.                Market Overview

20.2.              By Value (USD Million)

20.3.              Market Segmentation Analysis 2021-2031

20.3.1.                    By Product

20.3.2.                  By Technology

20.3.3.                  By Application

20.3.4.                  By End-User

20.3.5.                   By Country

20.3.5.1.                        China

20.3.5.2.                       Japan

20.3.5.3.                       South Korea

20.3.5.4.                       Australia

20.3.5.5.                       India

20.3.5.6.                       Singapore

20.3.5.7.                       Rest of APAC

21.Latin America In-Vitro Diagnostics (IVD) Market

21.1.                  Market Overview

21.2.                By Value (USD Million)

21.3.                Market Segmentation Analysis 2021-2031

21.3.1.                      By Product

21.3.2.                    By Technology

21.3.3.                    By Application

21.3.4.                    By End-User

21.3.5.                     By Country

21.3.5.1.  Brazil

21.3.5.2. Argentina

21.3.5.3. Mexico

21.3.5.4. Rest of Latin America

22.           Middle East & Africa In-Vitro Diagnostics (IVD) Market

22.1.                Market Overview

22.2.               By Value (USD Million)

22.3.               Market Segmentation Analysis 2021-2031

22.3.1.                    By Product

22.3.2.                   By Technology

22.3.3.                   By Application

22.3.4.                   By End-User

22.3.5.                   By Country

22.3.5.1. GCC

22.3.5.2.                       Israel

22.3.5.3.                       South Africa

22.3.5.4.                       Rest of Middle East & Africa

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  1. Siemens Healthcare GmbH
  2. F. Hoffmann-La Roche Ltd.
  3. Eisai Co., Ltd.
  4. Kyowa Kirin Co., Ltd.
  5. Sysmex Corporation
  6. Qiagen GmbH
  7. bioMerieux SA
  8. Danaher Corporation
  9. Bio Rad Laboratories, Inc.
  10. Thermo Fisher Scientific Inc.
  11. Exact Sciences Corporation
  12. Becton, Dickinson and Company
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