What is the focus of the IVD market study?

This study provides insights into the IVD market segmented based on product & solution (reagents & kits, systems, and software & services) and a wide range of technologies (molecular diagnostics, point of care (POC), immunoassay/immunochemistry, biochemistry/clinical chemistry, whole blood glucose monitoring, microbiology, hematology, coagulation/hemostasis, urinalysis, and other IVD technologies) offered by key companies to various end users, such as diagnostic laboratories, hospitals & clinics, home healthcare, and other end users. This report involves the value analysis of various segments and sub-segments of the IVD market at the regional and country levels. Read More

What is the revenue generated from selling IVD solutions across the globe?

The IVD market is projected to reach $116.3 billion by 2031, at a CAGR of 5.3% during the forecast period. Read More

Which offering is estimated to hold the major share of the market in 2024?

The reagents and kits segment is expected to account for the largest share of the global IVD market in 2024. Factors such as the high burden of diseases, the high adoption of rapid diagnostic test kits, and the presence of initiatives supporting early disease diagnosis support this segment's largest share. Read More

Which technology segment is projected to create more traction in the global IVD market?

Based on the technology, the molecular diagnostics segment is projected to create more traction. Read More

Which application segment is projected to create more traction in the global IVD market?

Based on application, the cardiology segment is projected to register the highest growth during the forecast period due to the growing cardiovascular disease (CVD) burden and increasing research on cardiac biomarkers. Read More

Which end-user segment is projected to create more traction in the global IVD market?

Based on end-user, the hospitals and clinics segment is projected to register the highest growth during the forecast period due to the high number of hospitalizations due to various diseases, the rising geriatric population, increasing healthcare access and expenditure, and the rising prevalence of healthcare-associated Infections (HAIs). Read More

What are the key factors supporting the growth of this market? What are the major opportunities for existing market players and new entrants in the IVD market?

The rising prevalence of chronic and infectious diseases, growing awareness for early disease diagnosis, a shift in the focus from centralized to point-of-care testing, and technological innovations are factors supporting the growth of this market. Further, emerging economies, the emergence of the COVID-19 pandemic, and advances in genomics and proteomics are anticipated to offer significant growth opportunities for companies operating in this market. Read More

Who are the major players operating in the global IVD market?

The key players operating in the global IVD market are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Siemens Healthineers AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Wama Diagnostica (Brazil), Wiener Laboratorios SAIC (Argentina), Ortho-Clinical Diagnostics, Inc. (U.S.), Agilent Technologies Inc. (U.S.), DiaSorin S.p.A. (Italy), Hologic, Inc. (U.S.), Abcam Plc (U.K.), Raybiotech, Inc. (U.S.), Oy Medix Biochemica Ab (Finalnd), InBios International, Inc. (U.S.), Dextra Laboratories Ltd. (U.K.), Genecopoeia, Inc. (U.S.), Sakura Finetek USA, Inc. (U.S.), and Edvotek, Inc. (U.S.). Read More

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Emerging countries from Asia and Latin America are projected to offer significant growth opportunities for vendors in this market due to rapid urbanization, increasing investments by healthcare providers in infrastructure improvement, growing infectious diseases, and growing accessibility to healthcare services and advanced products. Read More

In-Vitro Diagnostics Market Size, Share, Growth to 2031

The In-vitro Diagnostics Market Will Register a CAGR of 5.3% During the Forecast Period to Reach $116.28 billion by 2031.IVD comprises consumables such as kits & reagents, instruments, software and services. The rising prevalence of chronic diseases coupled with the increasing geriatric population, rising prevalence of acute and chronic infectious diseases, increasing funding for research activities, growing awareness regarding early disease diagnosis, growing demand for point-of-care (POC) diagnostics and rapid diagnosis, rising healthcare expenditure, and increasing funding for research activities are driving the growth of the global IVD market.

F. Hoffmann-La Roche Ltd. (Switzerland)

Founded in 1896 and headquartered in Basel, Switzerland., F. Hoffmann-La Roche Ltd is a research-based healthcare company majorly engaged in creating innovative medicines and providing solutions for diagnostics. The company operates through two major business segments, namely, Pharmaceuticals and Diagnostics, and offers centralized and point-of-care kits & reagents, advanced staining reagents, molecular diagnostic tests, and blood screening tests through its diagnostics division. The Diagnostics segment is further categorized into Core Lab, Molecular Lab, Point of Care, Diabetes Care, and Pathology Lab. This segment manufactures equipment & reagents for research & medical diagnostic applications.

Hoffman-La Roche has 20 manufacturing sites and 27 research & development sites engaged in Pharmaceuticals and Diagnostics operations worldwide.

Abbott Laboratories (U.S.)

Founded in 1888 and headquartered in Illinois, U.S., Abbott Laboratories is engaged in the discovery, development, manufacturing, and sales of healthcare products. The company offers various products in diagnostics, medical devices, nutrition, and branded generic pharmaceuticals markets. Abbott operates worldwide through four business segments, namely, Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices.

The company operates in the in vitro diagnostics market through its Diagnostics business segment, which is further divided into Core Laboratory, Rapid Diagnostics, Point of Care, and Molecular business segments. The Rapid Diagnostics business is a part of Alere Inc. (U.S.), a diagnostic device manufacturer and service provider, which Abbott acquired in October 2017.

Abbott has a wide geographic presence and a strong distribution network through direct and indirect channels in various countries. The company has 90 manufacturing facilities globally, of which 24 manufacturing sites are engaged in developing diagnostic products.

Danaher Corporation (U.S.)

Established in 1984 and headquartered in Washington, D.C, U.S., Danaher Corporation is involved in the designing, manufacturing, and marketing of medical, professional, industrial, and commercial products & services. The company operates in three segments, namely, Life Sciences, Diagnostics, and Environmental & Applied Solutions.

The Diagnostics segment offers a wide range of in vitro diagnostics products, including analytical instruments, reagents, consumables, software, and services. These products are used in various healthcare settings such as hospitals, physicians’ offices, reference laboratories, and other critical care settings to diagnose diseases. This segment is further categorized into Clinical Lab Diagnostics, Critical Care Diagnostics, and Anatomical & Pathological Diagnostics.

Danaher Corporation has 212 R&D, manufacturing, sales, distribution, service, and administrative facilities in more than 60 countries worldwide. The company’s manufacturing facilities are located in North America, Europe, Asia, and Australia. Danaher Corporation has several subsidiaries across the globe, of which Beckman Coulter, Inc. (U.S.), Cepheid (U.S.), Leica Biosystems Nussloch GmbH (Germany), HemoCue AB (Sweden), and Radiometer Medical ApS (Denmark) offer instruments & reagents for in vitro diagnostic applications.

Siemens Healthineers AG (Germany)

Founded in 1847 and headquartered in Erlangen, Germany, Siemens Healthineers AG is engaged in developing and selling a wide range of products, including medical imaging applications, laboratory diagnostics, and point-of-care testing. The company also offers digital health platforms for various clinical specialties and laboratories across the globe.

Siemens Healthineers operates in four business segments, namely, Imaging, Diagnostics, Varian, and Advanced Therapies. The company operates in the in vitro diagnostics market through its Diagnostics segment. This segment offers in vitro diagnostic products & services to healthcare professionals in molecular diagnostics, point-of-care diagnostics, and laboratories.

Siemens has a direct presence in more than 70 countries, including the U.S., Canada, Germany, the U.K., France, Italy, Spain, Denmark, Sweden, Switzerland, Belgium, India, China, Japan, Australia, New Zealand, and the Republic of Korea.

Thermo Fisher Scientific Inc. (U.S.)

Founded in 1956 and headquartered in Massachusetts, U.S., Thermo Fisher Scientific Inc. is a biotechnology company engaged in life sciences research, improving patient diagnostics, and increasing laboratory productivity. The company operates through four business segments, namely, Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. The company operates in the IVD market through its Specialty Diagnostics segment and offers diagnostic test kits, reagents, culture media, instruments, and associated products for customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories.

Some of the major brands of Thermo Fisher are Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, and Patheon. In June 2019, Thermo Fisher Scientific sold its Anatomical Pathology business to PHC Holdings Corporation (Japan), which primarily offered products for cancer diagnosis & medical research in histology, cytology, and hematology applications.

The company has a direct presence through its regional offices and production sites in the U.S., Mexico, Brazil, Germany, Belgium, Austria, the U.K., Italy, the Netherlands, South Africa, the UAE, India, China, Japan, Australia, and the Republic of Korea.

Becton, Dickinson and Company (BD)

Founded in 1887 and headquartered in New Jersey, U.S., Becton, Dickinson and Company (BD) is a medical technology company that manufactures and sells a wide range of medical devices, laboratory equipment, and diagnostic products used by healthcare institutions, clinical laboratories, pharmaceutical companies, and research centers. The company operates in three business segments, namely, BD Medical, BD Life Sciences, and BD Interventional.

The BD Life Sciences business segment offers products through two major categories, namely, Integrated Diagnostic Solutions (Diagnostic Systems and Preanalytical Systems) and Biosciences. The Diagnostic Systems category offers numerous products with clinical and industrial applications. These products include molecular testing systems for infectious diseases & women’s health, liquid-based cytology systems for cervical cancer screening, culturing systems, rapid diagnostic assays for testing respiratory infections, microorganism identification, and drug susceptibility systems.

BD has a direct presence in the U.S., Brazil, Canada, China, France, Spain, the U.K., Germany, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, Singapore, and the Netherlands through its manufacturing and sales operations. The R&D facilities of the company are located in China, France, India, Ireland, the U.S., and Singapore. BD has a wide global distribution network and markets its products through independent distribution channels and directly to hospitals, healthcare institutions, and independent sales representatives.

bioMérieux SA (France)

Founded in 1963 and headquartered in Marcy-l’Étoile, France. bioMérieux is engaged in developing a wide range of products & solutions, including reagents, instruments, and software for clinical diagnostics. The company offers products for microbiology, immunoassay, molecular biology, and industrial applications.

bioMérieux operates through two reportable segments, namely, Clinical Applications and Industrial Applications. The Clinical Applications segment is further categorized into Molecular Biology, Microbiology, Immunoassays, and Other Ranges. The products offered through this segment are used to diagnose infectious diseases such as bacterial, parasitic, and viral infections.

The company has a direct presence and a strong distribution network across 160 countries through its 44 subsidiaries and 15 production sites. The activities carried out at these sites are the production, sales, and distribution of reagents for ready-to-use media for microbiology and industrial applications, research & development, and commercial and administrative functions.

Illumina, Inc. (U.S.)

Founded in 1998 and headquartered in California, U.S., Illumina, Inc., is a producer, marketer and developer of sequencing and array-based solutions for genomic analysis. The company operates its business under two segments, namely, Core Illumina and Grail. Illumina operates in the IVD market through its Core Illumina segment by providing NGS platforms for diagnostic use. The company offers its services to molecular diagnostic laboratories, government laboratories, academic institutions, hospitals, genomic research centers, biotechnology companies, consumer genomics companies, pharmaceuticals, and commercial companies.

The Core Illumina segment includes all the Illumina’s core operations. The company markets and distributes products directly to customers in North America, Latin America, Europe, and Asia-Pacific. Additionally, the company has a network of life-science distributors in certain markets within Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)

Founded in 1991 and headquartered in Guangdong Sheng, China, Shenzhen Mindray Bio-Medical Electronics Co., Ltd provides a wide range of medical devices and IT ecosystem solutions. The company operates through five segments: Patient Monitoring & Life Support, In vitro Diagnostics, Medical Imaging, Other Products, and Others.

The In vitro Diagnostics segment of the company offers hematology analyzers, chemiluminescence immunoassay analyzers, biochemistry analyzers, coagulation analyzers, urine analyzers, microbiology diagnostic systems, and their related reagents, which are used in clinical diagnostics for samples such as blood, body fluids, and tissues.

The company has branches in more than 30 provinces and autonomous regions in China and subsidiaries in more than 30 countries globally. The company has 52 subsidiaries in North America, Europe, Asia, Africa, Latin America, and other regions, and its products are exported to more than 190 countries and regions.

Bio-Rad Laboratories, Inc. (U.S.)

Founded in 1952 and headquartered in California, U.S., Bio-Rad Laboratories, Inc. is a distributor and manufacturer of clinical diagnostics products and life science research. The company supplies and produces various systems and products for healthcare, analytical chemistry, and life sciences research. Bio-Rad Laboratories operates through two reportable segments: Clinical Diagnostics and Life Sciences. The company provides over 3,000 products through the Clinical Diagnostic segment, comprising over 300 clinical diagnostics tests, including IVD. The company’s offerings cater to physician offices, diagnostic reference laboratories, hospital laboratories, and transfusion laboratories.

The company has a direct distribution source in over 35 countries outside the U.S., including Afghanistan, France, Hong Kong, Japan, Korea, Iceland, Germany, Australia, Spain, the Netherlands, and South Africa.

Popular Mentions – QuidelOrtho Corporation (U.S.), Qiagen N.V. (Netherlands), Wama Diagnostica (Brazil), Weiner Laboratories SAIC (Argentina), DiaSorin S.p.A. (Italy), and Hologic, Inc. (U.S.).

Particulars	Details
Page No	525
Format	PDF
Forecast Period	2024-2031
Base Year	2023
CAGR	5.3%
Market Size (Value)	$116.3 billion by 2031
Segments Covered	By Offering Reagents & Kits Instruments Software & Services By Technology Molecular Diagnostics Polymerase Chain Reaction (PCR) Hybridization Isothermal Nucleic Acid Amplification Technology DNA Sequencing & Next-Generation Sequencing Microarrays Mass Spectrometry Other Molecular Diagnostic Technologies (Note:-Other Molecular Diagnostic Technologies majorly include electrophoresis, Ligase Chain Reaction (LCR), Northern Blot, and Southern Blot) Point of Care (POC) Diagnostics Lateral Flow Assays/Rapid Tests POC Molecular Diagnostics Other PoC Products Immunoassay/Immunochemistry Enzyme-linked Immunosorbent Assays (ELISA) Enzyme-linked Immunospot Assays (ELISPOT) Western Blotting Radioimmunoassay Biochemistry/Clinical Chemistry Metabolic Panel Electrolyte Panel Liver Panel Lipid Profile Renal Profile Thyroid Function Panel Whole Blood Glucose Monitoring Microbiology Hematology Coagulation/Hemostasis Urinalysis Other IVD Technologies (Note:Other IVD technologies comprise anatomical pathology, histochemistry, and loop-mediated amplification). By Application Infectious Diseases Sexually Transmitted Diseases (STD) Testing Healthcare-associated Infections (HAIs) Hepatitis HIV Tropical Diseases Respiratory Infections (Excluding Influenza) Influenza Other Infectious Diseases Oncology Diabetes Cardiology Nephrology Autoimmune Disorders Other Applications (Note 1:Other applications comprise drugs of abuse tests, coagulation tests, neonatal testing, genetic testing, and neurological disorders testing. Note 2:Other infectious diseases include congenital infections, meningitis, norovirus (stomach flu), hand, foot, and mouth disease (HFMD), and pertussis). By Diagnostic Approach Laboratory Testing OTC/Self-testing Point-of-Care Testing By End User Diagnostic Laboratories Hospitals & Clinics Home Healthcare Other End Users (Note: Other end users comprise nursing homes, academic & research institutes, ambulatory care centers, and transfusion laboratories.)
Countries Covered	North America (U.S., Canada), Europe (Germany, France, U.K., Spain, Italy, Switzerland, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), the Middle East (Saudi Arabia & Rest of Middle East), and Africa (South Africa and Rest of Africa)
Key Companies	Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Siemens Healthineers AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Wama Diagnostica (Brazil), Wiener Laboratorios SAIC (Argentina), Ortho-Clinical Diagnostics, Inc. (U.S.), Agilent Technologies Inc. (U.S.), DiaSorin S.p.A. (Italy), Hologic, Inc. (U.S.), Abcam Plc (U.K.), Raybiotech, Inc. (U.S.), Oy Medix Biochemica Ab (Finalnd), InBios International, Inc. (U.S.), Dextra Laboratories Ltd. (U.K.), Genecopoeia, Inc. (U.S.), Sakura Finetek USA, Inc. (U.S.), and Edvotek, Inc. (U.S.)

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In Vitro Diagnostics (IVD) Market Size, Share, Forecast, & Trends Analysis by Offering (Kits) Technology (Immunoassay, Molecular Diagnostics [PCR, NGS] Rapid Test) Application (Infectious Diseases, Oncology) Diagnostic Approach (Lab, POC) - Global Forecast to 2031

The In Vitro Diagnostics (IVD) Market was valued at $77 billion in 2023. This market is expected to reach $116.3 billion by 2031 from an estimated $80.9 billion in 2024, at a CAGR of 5.3% during the forecast period from 2024 to 2031.

IVD Market Size & Forecast

IVD Market Growth Drivers

Rising Prevalence of Chronic Diseases and Increasing Geriatric Population

Rising Awareness Regarding Early Disease Diagnosis

IVD Market Trends

Increasing Applications of Next-generation Sequencing Technology

Development of Smartphone-based Detection Platforms for Rapid Diagnostic Tests

IVD Market Opportunity

Emerging Economies

IVD Market Study: Key Findings

The Reagents & Kits Segment to Account for the Largest Share of this Market in 2024

The Molecular Diagnostics Segment to Account for the Largest Share of this Market in 2024

The Infectious Diseases Segment to Account for the Largest Share of this Market in 2024

The Lab Testing Segment to Account for the Largest Share of this Market in 2024

The Hospitals & Clinics Segment to Account for the Largest Share of this Market in 2024

Geographical Analysis

IVD Market: Key Companies

IVD Market Industry Overview: Latest Developments from Key Industry Players

IVD Market Research Summary

Key questions answered in the IVD market report:

The IVD market is projected to reach $116.3 billion by 2031, at a CAGR of 5.3% during the forecast period.

Based on the technology, the molecular diagnostics segment is projected to create more traction.

Based on application, the cardiology segment is projected to register the highest growth during the forecast period due to the growing cardiovascular disease (CVD) burden and increasing research on cardiac biomarkers.

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