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The in-vitro diagnostics instruments market size is forecast to increase by USD 52.9 billion at a CAGR of 9.29% between 2024 and 2028. The market is experiencing significant growth due to several key trends. The aging population is a major driver, as the increasing prevalence of chronic diseases among older individuals necessitates frequent diagnostic testing. Additionally, there are potential opportunities for physician office laboratories (POLs) to expand their diagnostic capabilities and improve patient care, thereby increasing instrument sales. However, strained laboratory budgets and lowering reimbursements pose challenges to market growth. To mitigate these challenges, market participants are focusing on developing cost-effective and high-value instruments that offer faster turnaround times and improved accuracy. Overall, the market is expected to witness steady growth in the coming years, driven by these trends and the ongoing demand for accurate and efficient diagnostic solutions.
The in vitro diagnostics market encompasses a wide range of medical tests performed on samples taken from bodily fluids, tissues, and other specimens in a laboratory environment. These tests play a crucial role in the detection and diagnosis of various diseases, including infectious diseases such as Zika, malaria, and chikungunya, as well as chronic conditions like cardiovascular diseases, cancer, and endocrine disorders. The geriatric population, with its higher prevalence of age-associated diseases and chronic conditions, is a significant consumer of in vitro diagnostics. Non-communicable diseases, such as high blood cholesterol, heart disease, and stroke, are also major targets for in vitro diagnostics.
Clinical laboratories rely on advanced technologies like molecular diagnostics for pathogen detection and disease diagnosis in various fields, including cardiology, gastroenterology, and Alzheimer's disease research. In vitro diagnostics are essential tools for healthcare professionals in the early detection and effective management of various health conditions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2017 - 2021 for the following segments.
The Immunochemistry segment is estimated to witness significant growth during the forecast period.In-Vitro Diagnostics, a significant segment of clinical laboratories, accounts for the highest test volume compared to other types of testing. Immunochemistry analyzers, a key component of this segment, are witnessing declining demand in the US and Europe due to consolidation of laboratories in France, late payments from Italy, Spain, and Portugal, and decreases in blood glucose testing and clinical chemistry overall. However, the increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, infectious diseases including HIV, Norovirus, Lyme disease, and Shigellosis, Alzheimer's disease, and aging population, are driving the growth of the market. Molecular diagnostics, next-generation sequencing, liquid biopsy, personalized medicine, genetic, molecular, clinical profiles, companion diagnostics, and various diagnostic technologies are gaining popularity in hospitals and healthcare facilities.
The market for IVD equipment, reagents and kits, software and services, immunodiagnostics, hematology, tissue diagnostics, clinical chemistry, cardiac diseases, immune system disorders, nephrological diseases, and gastrointestinal diseases is expected to expand significantly in the forecast period.
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The Immunochemistry segment accounted for USD 27.40 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market: Overview and Key Applications the market is witnessing significant growth due to the increasing prevalence of chronic conditions such as diabetes, oncology, sexually transmitted diseases, and geriatric population-associated diseases. These diagnostic instruments find extensive applications in various sectors including hypermarkets, pharmacies, drug stores, and online providers. In clinical laboratories, they are used for the detection and diagnosis of diseases such as diabetes, heart disease, stroke, endocrine disorders, and non-communicable diseases like cardiology and gastroenterology. Manufacturing technology advances have led to the development of sophisticated diagnostic tools for pathogen detection in blood, serum, plasma, urine, and saliva segments.
Pharmaceutical and biotechnology companies, academic institutes, and standalone laboratories are key contributors to the market's growth. The market also caters to home care settings for the diagnosis and monitoring of conditions like high blood cholesterol, tropical diseases such as Zika, Malaria, and Chikungunya, and genetic testing. Laboratory technicians utilize Next-Generation Sequencing (NGS) technology for accurate diagnosis and treatment of various diseases. The market encompasses a wide range of applications, from diagnostic tests for infectious diseases to genetic testing and monitoring of chronic conditions.
Our in-vitro diagnostics instruments market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market experiences growth due to the increasing population of elderly individuals who require frequent medical testing for various health conditions. In Vitro Diagnostics instruments play a crucial role in medical testing by analyzing samples derived from bodily fluids, tissues, and specimens in a laboratory environment. These diagnostic technologies are essential for identifying various diseases, including infectious diseases such as Norovirus, HIV, Lyme disease, and Shigellosis, as well as chronic conditions like cancer, cardiovascular diseases, and Alzheimer's disease. The aging population is particularly susceptible to these diseases due to the weakening immune system and the deterioration of various organ functions. The In Vitro Diagnostics market caters to the demand for diagnostic equipment, reagents and kits, software and services, immunodiagnostics, hematology, tissue diagnostics, clinical chemistry, cardiac diseases, immune system disorders, nephrological diseases, and gastrointestinal diseases.
Molecular diagnostics, such as next-generation sequencing and liquid biopsy, have gained significant traction in recent years due to their ability to provide personalized medicine and genetic, molecular, and clinical profiles. Companion diagnostics and advanced clinical decision-making tools are also becoming increasingly important in the healthcare sector, particularly in hospitals and healthcare facilities.
The market presents significant opportunities for physician office laboratories (POLs) due to the increasing demand for point-of-care testing and the growing preference for decentralized healthcare services. These factors are driving the adoption of advanced diagnostic instruments in POLs, enabling faster and more accurate results, and improving patient care. In-vitro diagnostics play a pivotal role in medical testing by analyzing samples derived from bodily fluids, tissues, and specimens in a laboratory environment. These diagnostic tests are essential for identifying various health conditions, including infectious diseases such as Norovirus, HIV, Lyme disease, and Shigellosis, chronic diseases like diabetes, cardiovascular diseases, cancer, and neurological disorders, including Alzheimer's disease and various cancers. With the aging population and the increasing prevalence of these conditions, the demand for advanced diagnostic technologies is escalating. Molecular diagnostics, including next-generation sequencing and liquid biopsy, are revolutionizing personalized medicine by providing genetic, molecular, and clinical profiles. Companion diagnostics are increasingly being used to optimize treatment plans based on individual patient needs.
Hospitals and healthcare facilities are investing in IVD equipment, diagnostic technologies, reagents and kits, software and services, immunodiagnostics, hematology, tissue diagnostics, clinical chemistry, cardiac diseases, immune system disorders, and nephrological diseases. Portable in-vitro diagnostic instruments are gaining popularity due to their ability to provide quick and accurate results in a point-of-care (POL) setting. However, there is a lack of uniformity and support for their use in primary and outpatient care. Stakeholders, including patients, reimbursement bodies, regulators, and administrators, need to recognize the importance of POL testing and address the challenges associated with it. The capabilities of portable IVD instruments are advancing technically, offering clinicians several options for in-house testing related to actionable infectious disease markers, cardiovascular diseases, and diabetes care. Many instruments previously used for testing in central labs now support POL testing, enabling faster and more accessible diagnosis.
Laboratory budget constraints and decreasing reimbursements have led to a restrained market for in-vitro diagnostics instruments. In the realm of healthcare, in vitro diagnostics have emerged as a crucial component in the identification and management of various medical conditions. These diagnostic tests utilize samples derived from bodily fluids, tissues, and specimens, enabling the examination of infectious diseases, chronic conditions such as cardiovascular diseases, cancer, and Alzheimer's disease, among others. The aging population and the rise of personalized medicine, driven by molecular diagnostics, next-generation sequencing, and liquid biopsy, have significantly expanded the scope of clinical profiles and companion diagnostics. Hospitals and healthcare facilities are the primary consumers of IVD equipment, diagnostic technologies, reagents and kits, software and services, immunodiagnostics, hematology, tissue diagnostics, clinical chemistry, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and various other diagnostic areas.
However, reimbursement policies for these diagnostic tests vary across geographies and are trending downward. Consequently, hospitals and diagnostic laboratories are under pressure to minimize their expenditure on IVD instruments to achieve either break-even or profitable revenue. Laboratory workforce shortages and patients' frequent visits without insurance coverage further exacerbate the situation. To maintain revenue, lean laboratories, which maximize output with minimal resources, are becoming increasingly common in some countries. Infectious diseases such as norovirus, HIV, Lyme disease, and shigellosis, among others, continue to pose significant challenges and require advanced diagnostic solutions.
The in-vitro diagnostics instruments market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories- The company specializes in providing advanced in-vitro diagnostics instruments that facilitate the identification of diseases, medical conditions, and infections. These instruments are designed to analyze samples derived from the human body, such as blood or tissue, in a laboratory setting. By employing sophisticated technology and precise analytical methods, these instruments enable healthcare professionals to make accurate and timely diagnoses, thereby improving patient outcomes and enhancing overall healthcare delivery. In-vitro diagnostics instruments play a crucial role in the healthcare industry, offering a non-invasive and efficient alternative to traditional diagnostic methods. Our commitment to innovation and quality ensures that we provide our clients with the most advanced and reliable instruments available in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The in vitro diagnostics market encompasses a wide range of medical tests that utilize samples of bodily fluids, tissues, and other specimens in a laboratory environment to detect and diagnose various diseases. This market caters to the detection of infectious diseases such as norovirus, HIV, Lyme disease, and shigellosis, as well as chronic conditions like cancer, cardiovascular diseases, and Alzheimer's disease. With an aging population and the increasing prevalence of chronic diseases, the demand for in vitro diagnostics is on the rise. Molecular diagnostics, including next-generation sequencing and liquid biopsy, are gaining popularity due to their ability to provide personalized medicine and clinical profiles.
Companion diagnostics, which are tests designed to be used in conjunction with specific treatments, are also a growing segment of the market. The in vitro diagnostics market comprises IVD equipment, diagnostic technologies, reagents and kits, software and services, immunodiagnostics, hematology, tissue diagnostics, clinical chemistry, cardiac diseases, immune system disorders, nephrological diseases, and gastrointestinal diseases. Hospitals and healthcare facilities are the primary end-users of these diagnostic technologies. In summary, the in vitro diagnostics market is a significant and growing sector within the healthcare industry, providing essential tools for the detection and diagnosis of a wide range of diseases, from infectious to chronic, and utilizing various diagnostic technologies and techniques.
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Market Scope |
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Report Coverage |
Details |
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Page number |
188 |
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Base year |
2023 |
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Historic period |
2017-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.29% |
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Market growth 2024-2028 |
USD 52.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.25 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 33% |
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Key countries |
US, Germany, China, Canada, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Biosino Bio Technology and Science Inc, CPC Diagnostics Pvt Ltd., DAAN Gene Co. Ltd., Danaher Corp., F. Hoffmann La Roche Ltd., Guangzhou Wondfo Biotech Co. Ltd., Hologic Inc., Myriad Genetics Inc., QIAGEN NV, QuidelOrtho Corp., Shanghai Kehua Bio Engineering Co. Ltd, Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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