In Vitro Diagnostics Market

In Vitro Diagnostics Market, Industry Trends and Global Forecasts, till 2035 - Distribution by Test Type (Laboratory and Point-of-Care Testing), Type of Offering (Reagents, Instruments, and Services), Type of Technology (Clinical Chemistry, Hematology, Immunoassay, Molecular Diagnostics, and Others), Therapeutic Area (Autoimmune Diseases, Cardiovascular Disorders, Diabetes, Infectious Diseases, Renal Disorders, Oncological Disorders, and Others), End Users (Hospitals, Laboratories, and Others) and Geographical Regions (North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World)

  • Lowest Price Guaranteed From USD 4,799

  • Companies Covered
    269

  • Pages
    188

  • View Count
    6746

In Vitro Diagnostics Market Size

The global IVD market size is estimated to grow from $108 billion in 2024 to $190 billion by 2035, growing at a CAGR of 5.2% during the forecast period 2024 to 2035. The new research study consists of in vitro diagnostics market trends, detailed market analysis, competitive landscape and market sizing. The IVD market growth over the next decade is likely to be the result of rising prevalence of chronic diseases, a rapidly growing aging population and increasing healthcare expenditure.

In Vitro Diagnostics Market by Type of Technology (USD Billion)

To learn more about this report, request a free sample copy

In vitro diagnostic tests (IVD) are the tests conducted on human samples, such as blood or tissue, outside the body. The term, in vitro, is derived from Latin, which translates to “within the glass”, thus referring to diagnostic tests performed outside the body. Such tests can be used to diagnose diseases, monitor the progress of treatments, and predict healthcare outcomes. In vitro diagnostics solutions can be used in both industrial and clinical settings. IVD products, while being non-invasive, still fall under the same regulatory requirements of medical devices due to their critical role in healthcare. Such diagnostic solutions range from self-test glucose monitoring solutions to sophisticated in-lab diagnostic procedures. In vitro diagnostic solutions cover a diverse range of tests, including blood type identification, cancer diagnostics, renal profiling, used for various applications, such as disease detection and monitoring.

According to the World Health Organization, there are over 40,000 in vitro diagnostics products available in the market.  This vast array of products highlights the critical role of diagnostics in healthcare. Further, it is worth mentioning that over 70% of the healthcare decisions are made based on laboratory test results, which showcases the importance of such diagnostic tools in patient care.  This can be attributed to the ability of such solutions to provide precise diagnostics and enable early intervention in order to prevent the progression of a disease. 

According to the World Health Organization, there are over 40,000 in vitro diagnostics products available in the market. This vast array of products highlights the critical role of diagnostics in healthcare. Furthermore, it is worth mentioning that over 70% of healthcare decisions are made based on laboratory test results, underscoring the importance of these diagnostic tools in patient care.

Given the benefits offered by diagnostic solutions to provide rapid diagnostic results and improve patient outcomes, the global in vitro diagnostics market is expected to grow at a healthy compounded annual growth rate (CAGR) during the forecast period. The IVD market growth can be attributed to several factors, including the growing demand for point of care diagnostics devices, rapid diagnostics testing, and the increasing prevalence of chronic diseases.

IVD Market Segmentation Insights

The in vitro diagnostics market report presents an in-depth analysis of the various companies that are engaged in offering in vitro diagnostic solutions in the healthcare market, across different segments, as defined in the table below:

Global In Vitro Diagnostics Market: Report Attributes / Market Segmentations

Key Report Attribute Details
Historical Trend 2018-2023
Base Year 2023
Forecast Period 2024-2035
Market Size 2024 $108 Billion
CAGR 5.2%
Test Type
  • Laboratory Testing
  • Point-of-Care Testing
Type of Offering
  • Reagents
  • Instruments
  • Services
Type of Technology
  • Clinical Chemistry
  • Hematology 
  • Immunoassay
  • Molecular Diagnostics
  • Others
Therapeutic Area
  • Autoimmune Diseases
  • Cardiovascular Disorders
  • Diabetes
  • Infectious Diseases
  • Renal Disorders
  • Oncological Disorders
  • Others
End Users
  • Hospitals
  • Laboratories
  • Others
Key Geographical Regions
  • North America (US, Canada)
  • Europe (Austria, Belgium, France, Germany, Italy, Netherlands, Spain,
    Switzerland, UK, Rest of the Europe)
  • Asia (China, India, Indonesia, Japan, Singapore, South Korea, Thailand,
    Rest of Asia)
  • Latin America (Argentina, Brazil, Mexico, Rest of Latin America)
  • Middle East and North Africa (Egypt, Israel, Saudi Arabia, Rest of Middle
    East and North Africa)
  • Rest of the World
Key Companies Profiled
  • Abbott Laboratories
  • Agilent
  • Becton Dickinson
  • bioMérieux
  • Bio-Rad
  • Danaher Corporation
  • DiaSorin
  • Exact Sciences
  • Fujifilm
  • Gold Standard Diagnostics
  • Grifols
  • Hologic
  • Illumina
  • LabCorp
  • Qiagen
  • Quest Diagnostics
  • QuidelOrtho
  • Roche
  • Siemens Healthineers
  • Sysmex
  • Thermo Fisher Scientific
  • Werfen
PowerPoint Presentation
(Complimentary)
Available
Customization Scope 15% Free Customization 
Excel Data Packs
(Complimentary)
  • Market Landscape Analysis
  • Competitive Landscape Analysis
  • Market Forecast and Opportunity Analysis

One of the key objectives of the in vitro diagnostics market report was to estimate the current IVD market size, opportunity and the market growth potential for IVD companies active in this domain, over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market evolution during the forecast period 2024-2035. 

The market report also features the likely distribution of the current and forecasted opportunity within the in vitro diagnostics market across various segments, such as Test Type (Laboratory and Point-of-Care Testing), Type of Offering (Reagents, Instruments, and Services), Type of Technology (Clinical Chemistry, Hematology, Immunoassay, Molecular Diagnostics, and Others), Therapeutic Area (Autoimmune Diseases, Cardiovascular Disorders, Diabetes, Infectious Diseases, Renal Disorders, Oncological Disorders and Others), End Users (Hospitals, Laboratories and Others), and Geographical Regions (North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World).  

In order to account for future uncertainties and to add robustness to our model, we have provided three in vitro diagnostics market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the IVD market growth.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this IVD market report are in USD, unless otherwise specified. The opinions and insights presented in the market report were influenced by discussions held with stakeholders in the industry.

In Vitro Diagnostics Market Share Insights

Market Share by Test Type

The global IVD market is categorized into laboratory and point-of-care testing. Currently, the laboratory testing segment occupies the highest in vitro diagnostics market share (85%) and is expected to stay dominant during the forecast period. However, it is worth mentioning that the point-of-care testing segment is expected to grow at a higher CAGR compared to laboratory testing market owing to their ability to deliver rapid test results and offer improved convenience and accessibility.

Market Share by Type of Offering

The global in vitro diagnostics market highlights the distribution of this segment across various types of offerings such as reagents, instruments and services. Among these types of offerings, the reagents segment occupies the highest IVD market share (75%) in 2024 and is expected to witness substantial growth during the forecast period. This can be attributed to the fact that the reagents are required to be replenished frequently, thus generating a recurring stream of revenue for the companies.

Market Share by Type of Technology

The global IVD market analysis highlights the distribution of this market across base technology, such as clinical chemistry, hematology, immunoassay, molecular diagnostics, and others. Among these types of technologies, immunoassay segment occupies the highest share (34%) in 2024 and is expected to witness substantial growth during the forecast period. This is followed by clinical chemistry segment which occupies the second largest IVD market share.

In Vitro Diagnostics Market Share by End Users

The global IVD market is segmented into different types of end users, such as hospitals, laboratories and others. Hospitals are expected to hold the majority IVD market share (48%) in 2024 and this trend is expected to continue till 2035, whereas the laboratories segment is expected to grow at the highest growth rate of 5.5%, compared to other segments.

Market Share by Key Geographical Regions

This segment highlights the distribution of in vitro diagnostics market across various geographies, such as North America, Europe, Asia, Latin America, Middle East and North Africa, and rest of the world. According to our projections, North America is likely to capture the majority (39%) of the market share in 2024, and this trend is unlikely to change in the future. Further, it is worth highlighting that the Asia Pacific in vitro diagnostics market is expected to grow at the highest CAGR among other regions (5.5%), during the forecast period 2024-2035.

In Vitro Diagnostics Market Key Insights

The “In Vitro Diagnostics Market: Industry Trends and Global Forecasts, till 2035” market report features an extensive study of the current market landscape, market size, market share, market analysis, market forecast and future opportunities for the in vitro diagnostics companies. The in vitro diagnostics market research report highlights the efforts of several developers involved in this rapidly emerging market segment of the medical device industry. Key takeaways of the IVD market analysis are briefly discussed below. 

Increasing Prevalence of Chronic and Infectious Diseases

The rising prevalence of chronic and infectious diseases around the globe have contributed to significant growth of the global IVD market. In addition, growing geriatric population, shift of general population towards unhealthy dietary choices and sedentary lifestyle have contributed to the increase in the incidence of chronic and infectious diseases. Owing to the reasons stated above, the demand for diagnostic tests have been increasing since past few decades.

Growing Shift Towards Personalized Medicine

The growing interest in personalized healthcare has been one of the major IVD market drivers. The aim of personalized healthcare is to customize medical treatments based on individual patient characteristics, in order to enhance treatment efficacy. Such diagnostic tests play a crucial role by offering genetic and molecular insights to enable tailored treatment approaches. By employing IVD technologies, such as molecular diagnosis and clinical chemistry, healthcare providers can predict treatment responses and optimize outcomes, in order to help patients receive personalized and optimized treatment.

Market Size Analysis: In Vitro Diagnostic Solutions Intended for Infectious Diseases Hold Majority of the Market Share

The global IVD market size is estimated to be worth USD 108 billion in 2024. The market growth is expected to be driven by the increasing prevalence of chronic disorders, leading to a CAGR of 5.2% over the forecast period. Further, in terms of therapeutic areas, in vitro diagnostic solutions intended for infectious diseases currently capture the majority (41%) of the market share. 

Regional Analysis: North America to Hold Majority Share; Middle East and North Africa is Expected to be the Fastest Growing Market

Presently, North America captures 39% of the in vitro diagnostics market share. However, it is worth highlighting that, owing to the rising demand for in vitro diagnostics and increased investments in the region, market in Asia is likely to grow at a higher CAGR (5.5%) as compared to other regions in the coming years. The US is expected to occupy the majority of the market share in North America, driven by factors such as the growing prevalence of early disease diagnosis, increasing incidences of infectious and chronic diseases, and the adoption of point-of-care testing devices for accurate and timely results. 

Additionally, Europe is expected to become the second most dominant region in terms of market share owing to various factors such as rising healthcare expenditure, well-established infrastructure, and a large pool of patients suffering from infectious diseases and cancer. Furthermore, in Asia, developing countries such as India and China are expected to witness the highest growth rate.

Key Companies in In Vitro Diagnostics Market

Examples of in vitro diagnostics companies (also profiled in this report, the complete list of companies is available in the full report) include Abbott Laboratories, Agilent, Becton Dickinson, bioMérieux, Bio-Rad, Danaher Corporation, DiaSorin, Exact Sciences, Fujifilm, Gold Standard Diagnostics, Grifols, Hologic, Illumina, LabCorp, Qiagen, Quest Diagnostics, QuidelOrtho, Roche, Siemens Healthineers, Sysmex, Thermo Fisher Scientific and Werfen. This global IVD market report includes an easily searchable excel database of the leading companies that offer in vitro diagnostic solutions.

In Vitro Diagnostics Market Report Coverage

The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders in this industry, across different geographies. Amongst other elements, the market report includes:

  • A preface providing an introduction to the full report, In Vitro Diagnostics Market, 2018-2023 (Historical Trends) and 2024-2035 (Forecasted Estimates).
  • An outline of the systematic research methodology adopted to conduct the study on IVD market trends, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
  • An overview of key economic factors that impact the overall in vitro diagnostics market, including historical market trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
  • A brief introduction to important concepts related to in vitro diagnostics, featuring information on classification of in vitro diagnostic products, therapeutic areas targeted by in vitro diagnostic solutions, types of in vitro diagnostic tests, hurdles in the in vitro diagnostics domain. Further, this chapter features recent advancements that have been reported in this market space.
  • An overview of the current market landscape of leading players in the IVD market, along with information on their year of establishment, company size, location of headquarters and annual revenues of the players (FY23, USD billion). Further, it highlights a detailed assessment of the in vitro diagnostic solutions based on several relevant parameters, such as type of technology used (clinical chemistry, hematology, immunoassay, molecular diagnostics, urinalysis), diagnostic applications (autoimmune, cardiology, diabetes, gynecology, healthcare-associated infections, infectious diseases, oncological disorders, renal, sexually transmitted infections / diseases).
  • An insightful competitiveness analysis of the leading players engaged in the in vitro diagnostics market, based on several relevant parameters, such as years of experience and company competitiveness (in terms of annual revenue, type of technology and diagnostic applications).
  • Elaborate profiles of various prominent players that are currently involved in the IVD market. Each company profile features a brief overview of the company (including information on its year of establishment, number of employees, location of headquarters and key members of the executive team), financial information, in vitro diagnostic offerings and details related to its recent developments and an informed future outlook.
  • Short profiles of various prominent players that are currently involved in the in vitro diagnostic industry. Each company profile features a brief overview of the company (including information on its year of establishment, number of employees, location of headquarters and key members of the executive team), financial information, in vitro diagnostic offerings and details related to its recent developments and an informed future outlook.
  • A qualitative porter’s five forces analysis, highlighting the five competitive forces prevalent in the global IVD market, including threats for new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
  • An in-depth analysis of the factors that can impact the growth of in vitro diagnostics market. It also features identification and IVD market analysis of key drivers, potential restraints, emerging opportunities, and existing challenges.
  • A detailed estimate of the current in vitro diagnostics market size, opportunity and the future growth potential, over the next decade. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market evolution during the forecast period 2024-2035. The report also features likely distribution of the current and forecasted opportunity. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
  • A detailed projection of the current and future in IVD market across different test types, such as laboratory testing and point-of-care testing.
  • A detailed projection of the current and future in vitro diagnostics market across different types of technologies, such as clinical chemistry, hematology, immunoassay, molecular diagnostics, and others.
  • A detailed projection of the current and future in vitro diagnostic industry across different therapeutic areas, such as autoimmune diseases, cardiological disorders, diabetes, infectious diseases, renal disorders, oncological disorders, and others.
  • A detailed projection of the current and future in vitro diagnostics market across different end users, such as hospitals, laboratories and others.
  • A detailed projection of the current and future in vitro diagnostic industry across key geographical regions, such as North America, Europe, Asia, Latin America, Middle East and North Africa and Rest of the World. 

Recent Developments In In Vitro Diagnostics Market

 Several recent developments have taken place related to in vitro diagnostics, some of which have been outlined below. 

  • In April 2024, Roche Diagnostics announced the launch of its cancer diagnostics test in China, titled Elecsys CA 242 assay, intended to diagnose pancreatic cancer and colorectal cancer.
  • In March 2024, CleanNA launched Clean Quick Viral DNA/RNA which claims to extract viral DNA and RNA from nasopharyngeal or oropharyngeal swab samples along with its CleanXtract 96 or general liquid handlers. 
  • In January 2024, the EU commission revised the in vitro diagnostics regulation (IVDR) in order to improve the transparency in the diagnostics domain and to enhance patient care while aiming to improve the availability of such healthcare products. 

Author(s): Gaurav Raj Bangarh, Nancy Kapila, Rupanshi Sharma

Frequently Asked Questions

Question 1: What are in vitro diagnostic tests?

Answer: In vitro diagnostic tests are diagnostic tests that are performed on human samples, such as blood and tissues.

Question 2: What are the main types of in vitro diagnostic tests?

Answer: There are various types of in vitro diagnostic tests available in the market, including immunoassay tests, molecular diagnostics tests, microbiology tests and point-of-care tests.

Question 3: How big is the IVD market in 2024?

Answer: The global in vitro diagnostics market size is estimated to be worth USD 108 billion in 2024.

Question 4: What are the drivers of the IVD market?

Answer: The global IVD market is driven by rising incidence of chronic diseases, a rapidly growing geriatric population, increasing healthcare expenditure, and supportive government funding.

Question 5: What is the market outlook for IVD?

Answer: The global IVD market size is estimated to reach USD 190 billion by 2035, growing at a CAGR of 5.2% during the period 2024-2035.

Question 6: Which country is expected to hold the majority share of the in vitro diagnostics market in the year 2035?

Answer: The US is expected to hold the majority share (29%) of the market in 2035.

Question 7: Who are the key players in the IVD industry?

Answer: Abbott Laboratories, Becton Dickinson, bioMérieux, Bio-Rad, Danaher Corporation, DiaSorin, Roche, Siemens Healthineers and Thermo Fisher Scientific are some of the key players engaged in the in vitro diagnostics market.

PRICING DETAILS

This license grants the right of use of the purchased report to a single recipient only (normally the person who buys the report). You may access the material on your computer, as and when required, for your own personal use. You may also print Read more about Single-User License

This license grants the right of use of the purchased report by the employees of a business unit at a particular site/office location. The report may be accessed on the computer of any employee within the business unit. You may also print multiple Read more about One Location Site License

This license grants the right of use of the purchased report by a department / team of individuals (up to 12) in a particular organization. The license does not limit the use to a particular site / office location. The report may be accessed on the computer Read more about Department License

This license entitles the buyer of the report to share, distribute the report (either full or in part) with other employees of the same firm/enterprise. The report may be accessed by any employee of the enterprise and there is no limit on the Read more about Enterprise License

Discounts available for multiple report purchases
Click here to send an email to Roots Analysis team. sales@rootsanalysis.com