The global in vitro diagnostics (IVD) market size was estimated to be USD 102.01 billion in 2023 and is expected to reach USD 217.82 billion by 2034 with a CAGR of 7.14% during the forecast period 2024-2034. The increasing prevalence of chronic diseases, technological advancements, demand for personalized medicine, increasing awareness and patient empowerment, emerging markets and healthcare infrastructure development, and a shift towards decentralized testing will drive the market growth.
The rising prevalence of chronic illnesses such as cancer, cardiovascular disease, and diabetes drives the IVD industry. These circumstances necessitate routine monitoring and testing, which increases the demand for IVD tests. For instance, Abbott stated in March 2023 that their Alinity I laboratory instrument, which is utilized for traumatic brain injuries (TBI) diagnosis and concussion evaluation with two biomarkers, is ready for commercial introduction following recent FDA certification.
By product, the reagents and kits segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the innovation and continuous development of high-quality reagents and kits tailored for various diagnostic applications. The increasing demand for accurate and reliable diagnostic results and advancements in molecular diagnostics and immunoassays propelled the reagents and kits segment to the forefront of the global in vitro diagnostics market in 2023. For instance, in April 2023, bioMérieux and Oxford Nanopore announced a partnership to improve patient care and advance in vitro diagnostic (IVD) research. Additionally, the instruments segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of automated and technologically advanced diagnostic instruments, such as PCR machines, mass spectrometers, and next-generation sequencers.
By technology, the immunoassay segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the increasing demand for highly sensitive and specific diagnostic assays, particularly in the detection of infectious diseases, autoimmune disorders, and cancer biomarkers. For instance, QIAGEN launched the QCI Interpret in April 2023 to support IVD regulations (IVDR) in Europe. Additionally, the molecular diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications of nucleic acid testing, continuous advancements in genomic technologies, and the increasing demand for personalized medicine.
By application, the infectious disease segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the escalating prevalence of infectious diseases worldwide, with a particular emphasis on the COVID-19 pandemic, which drove unprecedented demand for diagnostic tests. For instance, in April 2022, QuidelOrtho Corporation and the Alliance agreed to work on biotherapies and diagnostic research and development. Additionally, the oncology segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of cancer cases globally, driving a surge in demand for advanced and personalized diagnostic solutions.
By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the rising patient population, increased diagnostic testing volumes, and the central role of hospitals in providing comprehensive healthcare services. For instance, in February 2022, bioMérieux developed MYACUTECASETM, the first-of-its-kind free mobile application for the right interpretation of IVD tests. Additionally, the home care segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for decentralized and patient-centric healthcare, advancements in point-of-care testing technologies, and a growing aging population desiring at-home monitoring solutions.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust healthcare infrastructure, a high prevalence of chronic diseases, significant investments in research and development, and an increasing focus on advanced diagnostic technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing healthcare awareness, rising disposable incomes, and a growing demand for diagnostic services across populous countries. For instance, Siemens Healthineers announced a cooperation with Illumina in August 2023 to develop next-generation sequencing (NGS) technologies for cancer diagnosis.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
The rising prevalence of chronic illnesses such as cancer, cardiovascular disease, and diabetes drives the IVD industry. These circumstances necessitate routine monitoring and testing, which increases the demand for IVD tests. For instance, Abbott stated in March 2023 that their Alinity I laboratory instrument, which is utilized for traumatic brain injuries (TBI) diagnosis and concussion evaluation with two biomarkers, is ready for commercial introduction following recent FDA certification.
By product, the reagents and kits segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the innovation and continuous development of high-quality reagents and kits tailored for various diagnostic applications. The increasing demand for accurate and reliable diagnostic results and advancements in molecular diagnostics and immunoassays propelled the reagents and kits segment to the forefront of the global in vitro diagnostics market in 2023. For instance, in April 2023, bioMérieux and Oxford Nanopore announced a partnership to improve patient care and advance in vitro diagnostic (IVD) research. Additionally, the instruments segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of automated and technologically advanced diagnostic instruments, such as PCR machines, mass spectrometers, and next-generation sequencers.
By technology, the immunoassay segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the increasing demand for highly sensitive and specific diagnostic assays, particularly in the detection of infectious diseases, autoimmune disorders, and cancer biomarkers. For instance, QIAGEN launched the QCI Interpret in April 2023 to support IVD regulations (IVDR) in Europe. Additionally, the molecular diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications of nucleic acid testing, continuous advancements in genomic technologies, and the increasing demand for personalized medicine.
By application, the infectious disease segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the escalating prevalence of infectious diseases worldwide, with a particular emphasis on the COVID-19 pandemic, which drove unprecedented demand for diagnostic tests. For instance, in April 2022, QuidelOrtho Corporation and the Alliance agreed to work on biotherapies and diagnostic research and development. Additionally, the oncology segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of cancer cases globally, driving a surge in demand for advanced and personalized diagnostic solutions.
By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global in vitro diagnostics (IVD) market in 2023 owing to the rising patient population, increased diagnostic testing volumes, and the central role of hospitals in providing comprehensive healthcare services. For instance, in February 2022, bioMérieux developed MYACUTECASETM, the first-of-its-kind free mobile application for the right interpretation of IVD tests. Additionally, the home care segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for decentralized and patient-centric healthcare, advancements in point-of-care testing technologies, and a growing aging population desiring at-home monitoring solutions.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust healthcare infrastructure, a high prevalence of chronic diseases, significant investments in research and development, and an increasing focus on advanced diagnostic technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing healthcare awareness, rising disposable incomes, and a growing demand for diagnostic services across populous countries. For instance, Siemens Healthineers announced a cooperation with Illumina in August 2023 to develop next-generation sequencing (NGS) technologies for cancer diagnosis.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Technology, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: In Vitro Diagnostics (IVD) Market Report 2023 - 2034
In Vitro Diagnostics (IVD) Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Instruments
- Reagents
- Services
In Vitro Diagnostics (IVD) Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Immunoassay
- Instruments
- Reagents
- Services
- Hematology
- Instruments
- Reagents
- Services
- Clinical Chemistry
- Instruments
- Reagents
- Services
- Molecular Diagnostics
- Instruments
- Reagents
- Services
- Coagulation
- Instruments
- Reagents
- Services
- Microbiology
- Instruments
- Reagents
- Services
- Others
- Instruments
- Reagents
- Services
In Vitro Diagnostics (IVD) Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Infectious Disease
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Disease
- Drug Testing
- Others
In Vitro Diagnostics (IVD) Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Laboratories
- Home Care
- Others
In Vitro Diagnostics (IVD) Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. In Vitro Diagnostics (IVD) Market: Product Estimates & Trend Analysis
8. In Vitro Diagnostics (IVD) Market: Technology Estimates & Trend Analysis
9. In Vitro Diagnostics (IVD) Market: Application Estimates & Trend Analysis
10. In Vitro Diagnostics (IVD) Market: End-User Estimates & Trend Analysis
11. Regional Market Analysis
12. North America In Vitro Diagnostics (IVD) Market
13. Europe Global In Vitro Diagnostics (IVD) Market
14. Asia Pacific Global In Vitro Diagnostics (IVD) Market
15. Latin America Global In Vitro Diagnostics (IVD) Market
16. MEA Global In Vitro Diagnostics (IVD) Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- SciCan Ltd.
- Matachana Group
- The Clorox Company
- Cantel Medical Corp.
- Tuttnauer
- Systec GmbH
- Mocom Srl
- Runyes Medical.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 102.01 Billion |
| Forecasted Market Value ( USD | $ 217.82 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
