The global in-vitro diagnostics (IVD) market has considerably evolved over the past decade with the introduction of innovative diagnosis options. Major factors contributing to the growth of in-vitro diagnostics market include growing incidence of chronic diseases, aging population and growing demand for point-of-care testing. Advancements in the field of genomics and proteomics, introduction of condition-specific markers and development of healthcare infrastructure in emerging economies create future prospects for the market.

This report studies the global in-vitro diagnostics market on the basis of four major segmentations: products, techniques, test locations and geography. Reagents, instruments, and software and services together make the IVD market by products. Clinical chemistry,  immunochemistry/immunoassays, hematology, coagulation and hemostasis, microbiology, molecular diagnostics (MDX) and others are the IVD techniques studied in the report. Based on test locations, IVD is practiced across point-of-care testing, central lab testing and OTC/self testing. Each of the mentioned segments is analyzed for their market size and forecast and major trends observed in each category. The market size and forecast is provided for the period 2014-2023 with the individual compounded annual growth rates (CAGR %) for the period 2016-2023 while considering 2015 as the base year.

Based on geographical distribution, the global in-vitro diagnostics market is studied for North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America regional markets. Analysis for key country level markets for major regional markets are also provided in this study. Market size and forecast for each regional and country level markets is provided in this report for the period 2014-2023 along with their respective CAGRs during 2016-2023, considering 2015 as the base year.

Along with the quantitative data, qualitative information sets such as market dynamics and executive summary for the global in-vitro diagnostics market are included in the report. Fractal map analysis and attractive investment proposition tools are also included in the report or competition assessment. This study concludes with company profiles section, which includes major information about the key companies engaged in development, manufacture and sale of IVD technologies.

The in-vitro diagnostics market is dominated by reagents segment both in terms of market revenue and market growth rate. The dominance of this segment is largely attributed to the large scale consumption of these products across all the techniques and applications. Easy access to a wide range of reagents based on specificity of needs, and their reliability in detection of chronic diseases also plays a vital role in determining the growth of this segment.

Test Locations Segmentation Investigation

Point-of-care testing, central lab testing and OTC/self testing are the locations where IVD is applied.

A great majority of in-vitro testing is still performed in central laboratories such as those of hospitals, path labs, blood banks etc. However, as of the recent trends, IVD tests are also being increasingly performed in point-of-care locations such as clinics, physician offices and others. Over-the-counter or self testing represents over 10% share of the overall in-vitro diagnostics market. Consistent innovation and thereby the resultant growth in OTC product offering plays a vital role in the growth of this segment.

Clinical chemistry segment dominates the IVD market across all the major regional and national markets. Molecular diagnostics market is estimated to take over dominance in the global market during the forecast period. Molecular diagnostic tools drive the perpetual discovery of biomarkers and thus in innovation of various treatments for chronic diseases and also personalized medicine. Innovation in the field of molecular diagnostics has also given rise to companion diagnostics for identification of specific therapies.

Geographically, the in-vitro diagnostics market is cumulative to North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.

North America is the largest regional segment in the global in-vitro diagnostics market, followed by Europe. High prevalence of chronic diseases, well-defined healthcare policies, rapid adoption of advanced technologies and positive adoption of novel molecular diagnostic technologies and point-of-care testing play a critical role in the dominance of these regions on the global front. Additionally, increasing government initiatives, growth in clinical research activities and growing healthcare expenditure in Asia-Pacific and Latin America together drive the significant growth in these markets.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of In-Vitro Diagnostics (IVD) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the In-Vitro Diagnostics (IVD) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of In-Vitro Diagnostics (IVD) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the In-Vitro Diagnostics (IVD) market?
• Which is the largest regional market for In-Vitro Diagnostics (IVD) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving In-Vitro Diagnostics (IVD) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the In-Vitro Diagnostics (IVD) market worldwide?