IMARC Group, a leading market research company, has recently releases report titled “In Vitro Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global in vitro diagnostics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the in vitro diagnostics market?
The global in vitro diagnostics market size reached US$ 104.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 150.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
What is in vitro diagnostics?
In vitro diagnostics (IVD) enzymes are specialized enzymes employed in diagnostic tests on certain samples, such as blood and tissue derived from the human body, diagnosed in laboratory settings. These enzymes play an essential role in facilitating accurate and reliable detection, monitoring, and diagnosis of numerous diseases and medical conditions. They are utilized in various IVD assays, including immunoassays, clinical chemistry tests, molecular diagnostics, and point-of-care testing. In addition, they enable the conversion of substrate molecules into detectable products, allowing healthcare professionals to measure and analyze specific biomarkers, antibodies, antigens, and genetic material. Moreover, they are designed to exhibit high specificity, sensitivity, and stability, ensuring precise and efficient diagnostic results.
As a result, In vitro diagnostics (IVD) enzymes are widely adopted in hospitals, diagnostic laboratories, pharma, and biotech companies, and contract research organizations (CROs) across the globe.
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IVD Market Trends and Growth Drivers:
The market is primarily driven by the growing occurrences of chronic and infectious ailments such as cancer, diabetes, infectious diseases, and cardiovascular disorders (CVDs). Additionally, the rising product demand for early disease detection, monitoring of numerous diseases, and accurate and efficient diagnostic solutions are contributing to the market growth. In line with this, several technological advancements in diagnostic techniques, such as molecular diagnostics, point-of-care testing, and immunoassays, represent another major growth-inducing factor.
Besides this, the continuous evolution of diagnostic technologies and the incorporation of IVD enzymes in novel diagnostic approaches are accelerating the product adoption rate. Along with this, the rising infrastructure development, increasing investment in healthcare systems, improvements in laboratory facilities, and the emphasis on early disease diagnosis and management are propelling market growth.
Furthermore, the growing demand for point-of-care testing due to its convenience, rapid results, and potential for decentralized testing is creating a positive market outlook.
Who are the key companies in the IVD market?
The report covers the major market players including:
- Abbott Laboratories
- Agilent Technologies Inc.
- Biomerieux SA
- Bio-Rad Laboratories Inc.
- Hoffmann-La Roche Ltd
- Fujifilm Holdings Corporation
- Illumina Inc.
- Qiagen N.V.
- Quest Diagnostics
- Shimadzu Corporation
- Siemens Healthcare GmbH
- Sysmex Corporation
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Test Type:
- Clinical Chemistry
- Molecular Diagnostics
- Immunodiagnostics
- Hematology
- Others
Breakup by Product:
- Reagents and Kits
- Instruments
Breakup by Usability:
- Disposable IVD Devices
- Reusable IVD Devices
Breakup by Application:
- Infectious Disease
- Diabetes
- Cancer/Oncology
- Cardiology
- Autoimmune Disease
- Nephrology
- Others
Breakup by End User:
- Hospitals Laboratories
- Clinical Laboratories
- Point-of-care Testing Centers
- Academic Institutes
- Patients
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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