In-Vitro Diagnostics Market Size to Reach USD 104.8 Billion in 2028 | Industry Trend – Rising Demand for Advanced Point-Of-Care In-Vitro Diagnostic Solutions

February 23, 2022 |

16 min read

Increasing awareness of early disease diagnosis and technological advancements in in-vitro diagnostic techniques are among the key factors driving the global market revenue growth.

Increasing awareness of early disease diagnosis and technological advancements in in-vitro diagnostic techniques are among the key factors driving the global market revenue growth

Emergen Research has published its latest report titled “In-Vitro Diagnostics Market, By Product Type (Instruments, Data Management Software, Reagents & kits, Services), By Technology (Immunochemistry/Immunoassay, Clinical Chemistry, Molecular Diagnostics, Coagulation & Hemostasis, Hematology, Microbiology, Urinalysis, Others), By Usability (Reusable IVD Devices, Disposable IVD Devices), By Application (Diabetes, Oncology/Cancer, Infectious Diseases, Autoimmune Diseases, Cardiology, Nephrology, HIV/AIDS, Drug Testing/Pharmacogenomics, Others), By End-user (Hospitals, Laboratories, Home Care, Point-of-Care Testing, Patient Self-testing, Academic & Research Institutes, Others), and By Region Forecast to 2028”

According to Emergen Research, the global in-vitro diagnostics market size was USD 84.7 billion in 2020 and is expected to reach USD 104.8 billion in 2028 and register a revenue CAGR of 2.9% during the forecast period, 2021-2028.

Market Dynamics:

Revenue growth of the global in-vitro diagnostics market is majorly attributed to factors such as rapidly growing geriatric population, rising prevalence of chronic health conditions such as diabetes and cancer, growing need for rapid, error-free, and minimally invasive diagnostic procedures, and growing awareness about regular body profiling. In-vitro diagnostics (IVD) refers to biological tests that are carried out in laboratory settings for rapid and accurate diagnosis of diseases. These tests are regulated by the healthcare regulatory bodies like the Food and Drug Administration (FDA) and World Health Organization (WHO).

Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/70

In-vitro diagnostic devices are used for testing human samples such as saliva or blood to precisely analyze the concentration of substances such as sodium and cholesterol, as well as to detect the presence of specific markers including genetic mutations in the body. Hence, in-vitro diagnostic devices are widely used by clinicians for disease detection and prevention. Rapid adoption of point-of-care in vitro diagnostic devices, increasing sales of over-the-counter diagnostic devices such as continuous glucose monitoring kits, technological advancements in in-vitro diagnostic solutions, rapid spread of the novel coronavirus infection worldwide, and growing use of home-use IVD solutions are among the other major factors creating revenue growth opportunities for the global in-vitro diagnostics market.

COVID-19 Impact Analysis:

Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines

Reagents & Kits Segment Accounted for Largest Revenue Share in 2020:

Based on product type, the global in-vitro diagnostics market is segmented into Instruments, Data Management Software, Reagents & Kits, and Services. The reagents & kits segment dominated other segments in terms of revenue share in the global market in 2020. Growing use of reagents & kits in in-vitro diagnostic testing, increasing need for accurate and rapid disease diagnosis, rising cases of severe infectious diseases such as the SARS-CoV-2 disease, and growing demand for self-testing and point-of-care IVD solutions are major factors driving revenue growth of this segment.

Looking for Discount [Click on the link] @ https://www.emergenresearch.com/request-discount/70

Infectious Diseases Segment to Account for Fastest Revenue CAGR:

Based on application, the global in-vitro diagnostics market is segmented into Diabetes, Oncology/Cancer, Infectious Diseases, Autoimmune Diseases, Cardiology, Nephrology, HIV/AIDS, Drug Testing/Pharmacogenomics, and Others. The infectious diseases segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising burden of infectious diseases such as tuberculosis, HIV/AIDS, and the novel coronavirus infection worldwide, increasing cases of hospital-acquired infections, and rapid adoption of highly advanced disease detection assays are some of the key factors expected to drive this segment’s revenue growth.

North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America in-vitro diagnostics market accounted for the largest revenue share in the global market in 2020. The regional market revenue growth is majorly supported by factors such as rise in geriatric population, rising prevalence of chronic diseases, growing demand for advanced point-of-care diagnostic devices, growing penetration of rapid COVID-19 diagnostic test kits, including RT-PCR test kits, and presence of leading market players in the region, including Abbott Laboratories, Bio-Rad Laboratories, Inc., and Quest Diagnostics.

Major Companies in the Global In-Vitro Diagnostics Market Include:

BioMérieux SA
Abbott Laboratories
Danaher Corporation
Bio-Rad Laboratories, Inc.
QIAGEN
Siemens Healthineers AG
Becton, Dickinson and Company
Quidel Corporation
F. Hoffmann-La Roche AG
Charles River Laboratories International
Quest Diagnostics
Agilent Technologies
Sysmex Corporation, Inc.

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/in-vitro-diagnostics-market

For the purpose of this report, Emergen Research has segmented the global in-vitro diagnostics market on the basis of product type, technology, usability, application, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Instruments
- Fully-automated Instruments
- Semi-automated Instruments
- Others
Data Management Software
Reagents & kits
Services

Technology Outlook (Revenue, USD Billion; 2018-2028)

Immunochemistry/Immunoassay
- Enzyme-Linked Immunosorbent Assay (ELISA)
  - Chemiluminescence Immunoassay (CLIA)
  - Colorimetric Immunoassay (CI)
  - Fluorescence Immunoassay (FIA)
- Radioimmunoassays (RIA)
- ELISPOT
- Rapid Tests
- Western Blot
Clinical Chemistry
- Basic Metabolic Panel
- Thyroid Function Panel
- Specialty Chemicals
- Electrolyte Panel
- Liver Panel
- Renal Profile
- Lipid Profile
Molecular Diagnostics
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Hybridization (In-situ Hybridization & FISH)
- Polymerase Chain Reaction (PCR)
- DNA Sequencing & NGS
- Microarray
- Others
Coagulation & Hemostasis
Hematology
Microbiology
Urinalysis
Others

Usability Outlook (Revenue, USD Billion; 2018-2028)

Reusable IVD devices
Disposable IVD devices

Application Outlook (Revenue, USD Billion; 2018-2028)

Diabetes
Oncology/Cancer
Infectious Diseases
Autoimmune Diseases
Cardiology
Nephrology
HIV/AIDS
Drug Testing/Pharmacogenomics
Others

End-use Outlook (Revenue, USD Billion; 2018-2028)

Hospitals
Laboratories (Large, medium-sized, and small laboratories)
Home Care
Point-of-Care Testing
Patient Self-testing
Academic & Research Institutes
Others

Region Outlook (Revenue, USD Billion; 2018-2028)

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa

Explore Similar Reports offered by Emergen Research:

The global nutrigenomics market size reached USD 389.4 Million in 2020 and is expected to register a CAGR of 16.2% during the forecast period.

The global Sanger sequencing services market size was significantly robust in 2020 and is expected to register steady revenue CAGR over the forecast period. Increasing advancements in sequencing techniques, benefits of Sanger sequencing, and rising investments to accelerate R&D activities in genomics are key factors expected to drive market revenue growth over the forecast period.

The global whole exome sequencing (WES) market size was significantly robust in 2020 and is expected to register a steady revenue CAGR during the forecast period.

The global health data archiving market size is expected to reach USD 9.28 Billion in 2028 and register a revenue CAGR of 14.1% during the forecast period.

The global gel documentation system market size reached USD 291.5 Million in 2020 and is expected to register a revenue CAGR of 3.6% during the forecast period.

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Visit for More Insights: https://www.emergenresearch.com/insights

Explore Our Custom Intelligence services | Growth Consulting Services

Read Our Press release@ https://www.emergenresearch.com/press-release/global-in-vitro-diagnostics-market