The global IVD in cardiology and neurology market size was estimated to be USD 17.88 billion in 2023 and is expected to reach USD 48.36 billion by 2034 with a CAGR of 9.47% during the forecast period 2024-2034. Rising Prevalence of Cardiovascular and Neurological Disorders, Technological Advancements in IVD Testing, Increased Awareness and Focus on Preventive Healthcare, Development of Biomarkers for Early Diagnosis, and Growing Adoption of Artificial Intelligence (AI) and Machine Learning (ML) will drive the market growth.
Biomarker discovery has revolutionized the fields of cardiology and neurology, facilitating the development of targeted and precise diagnostic tests. In cardiology, widely utilized biomarkers such as troponin, B-type natriuretic peptide (BNP), and C-reactive protein (CRP) play crucial roles in the diagnosis of heart failure and acute coronary syndrome. Notably, in October 2023, Mindray announced the expansion of its cardiac biomarker portfolio with the introduction of two novel, highly sensitive biomarkers: NT-proBNP and troponin I (hs-cTnI). This strategic launch aims to enhance and diversify Mindray's existing offerings, incorporating innovative technologies to improve the diagnosis and management of cardiovascular diseases.
By product type, the reagents and consumables segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the frequent usage and recurring demand for consumables in diagnostic tests, as well as the continuous need for reagents in laboratories and point-of-care settings. For instance, in July 2023, Fujirebio and Beckman Coulter, Inc. partnered to improve patient access to blood-based Alzheimer's disease testing. The collaboration intends to pool the business's immunoassay capabilities to assist Additionally, the instruments segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of advanced diagnostic equipment and technological innovations in diagnostic instruments, enhancing efficiency and accuracy in detecting cardiovascular and neurological conditions.
By technology, the immunology segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the wide applicability of immunoassay techniques in detecting biomarkers associated with heart diseases and neurological disorders, providing high sensitivity and specificity in diagnostic processes. For instance, in March 2023, Fujirebio announced the introduction of fully automated Lumipulse G NfL Blood and Lumipulse G NfL CSF assays, expanding its assay product offering in the field of neurodegenerative illnesses. Additionally, the molecular diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for precision diagnostics, enabling early detection through genetic and molecular markers, especially for personalized treatment strategies in cardiology and neurology.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the large volume of diagnostic tests conducted in hospital settings and the availability of advanced diagnostic technologies within hospitals, making them a primary center for patient care and diagnosis. For instance, Abbott received FDA approval in March 2023 to market the first laboratory blood test for traumatic brain injury (TBI). This test, which was based on Abbott's Alinity I laboratory device, revolutionized the company's product line by giving physicians an objective means of rapidly evaluating patients with mild traumatic brain injuries. Additionally, the other segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of diagnostic tools in alternative settings such as clinics, diagnostic laboratories, and home healthcare, driven by the increasing focus on decentralized and point-of-care diagnostics.
North American region is anticipated for the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of cardiovascular and neurological diseases, increased healthcare spending, and the presence of leading diagnostic companies driving innovation and adoption of advanced IVD technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the growing healthcare investments, rising awareness of early disease detection, increasing prevalence of chronic diseases, and expanding access to advanced diagnostic technologies in emerging markets such as China and India. For instance, Quest Diagnostics announced in July 2023 that the AD-Detect Test for Alzheimer's Disease, which assists in determining one's probable risk of getting Alzheimer's disease, will be the first test offered to customers.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Biomarker discovery has revolutionized the fields of cardiology and neurology, facilitating the development of targeted and precise diagnostic tests. In cardiology, widely utilized biomarkers such as troponin, B-type natriuretic peptide (BNP), and C-reactive protein (CRP) play crucial roles in the diagnosis of heart failure and acute coronary syndrome. Notably, in October 2023, Mindray announced the expansion of its cardiac biomarker portfolio with the introduction of two novel, highly sensitive biomarkers: NT-proBNP and troponin I (hs-cTnI). This strategic launch aims to enhance and diversify Mindray's existing offerings, incorporating innovative technologies to improve the diagnosis and management of cardiovascular diseases.
By product type, the reagents and consumables segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the frequent usage and recurring demand for consumables in diagnostic tests, as well as the continuous need for reagents in laboratories and point-of-care settings. For instance, in July 2023, Fujirebio and Beckman Coulter, Inc. partnered to improve patient access to blood-based Alzheimer's disease testing. The collaboration intends to pool the business's immunoassay capabilities to assist Additionally, the instruments segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of advanced diagnostic equipment and technological innovations in diagnostic instruments, enhancing efficiency and accuracy in detecting cardiovascular and neurological conditions.
By technology, the immunology segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the wide applicability of immunoassay techniques in detecting biomarkers associated with heart diseases and neurological disorders, providing high sensitivity and specificity in diagnostic processes. For instance, in March 2023, Fujirebio announced the introduction of fully automated Lumipulse G NfL Blood and Lumipulse G NfL CSF assays, expanding its assay product offering in the field of neurodegenerative illnesses. Additionally, the molecular diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for precision diagnostics, enabling early detection through genetic and molecular markers, especially for personalized treatment strategies in cardiology and neurology.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global IVD in cardiology and neurology market in 2023 owing to the large volume of diagnostic tests conducted in hospital settings and the availability of advanced diagnostic technologies within hospitals, making them a primary center for patient care and diagnosis. For instance, Abbott received FDA approval in March 2023 to market the first laboratory blood test for traumatic brain injury (TBI). This test, which was based on Abbott's Alinity I laboratory device, revolutionized the company's product line by giving physicians an objective means of rapidly evaluating patients with mild traumatic brain injuries. Additionally, the other segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of diagnostic tools in alternative settings such as clinics, diagnostic laboratories, and home healthcare, driven by the increasing focus on decentralized and point-of-care diagnostics.
North American region is anticipated for the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of cardiovascular and neurological diseases, increased healthcare spending, and the presence of leading diagnostic companies driving innovation and adoption of advanced IVD technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the growing healthcare investments, rising awareness of early disease detection, increasing prevalence of chronic diseases, and expanding access to advanced diagnostic technologies in emerging markets such as China and India. For instance, Quest Diagnostics announced in July 2023 that the AD-Detect Test for Alzheimer's Disease, which assists in determining one's probable risk of getting Alzheimer's disease, will be the first test offered to customers.
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 Type, Technology, 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
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: IVD In Cardiology and Neurology Market Report 2023 - 2034
IVD In Cardiology and Neurology Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Instruments
- Reagents & Consumables
- Software
- Services
IVD In Cardiology and Neurology Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Immunoassays
- Molecular Diagnostics
- Hematology
- Others
IVD In Cardiology and Neurology Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Clinical Laboratories
- Others
IVD In Cardiology and Neurology 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. IVD In Cardiology and Neurology Market: Product Type Estimates & Trend Analysis
8. IVD In Cardiology and Neurology Market: Technology Estimates & Trend Analysis
9. IVD In Cardiology and Neurology Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America IVD In Cardiology and Neurology Market
12. Europe Global IVD In Cardiology and Neurology Market
13. Asia Pacific Global IVD In Cardiology and Neurology Market
14. Latin America Global IVD In Cardiology and Neurology Market
15. MEA Global IVD In Cardiology and Neurology Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Roche Diagnostics
- Siemens Healthineers
- Thermo Fisher Scientific
- bioMérieux S.A.
- Becton
- Dickinson and Company (BD)
- Ortho Clinical Diagnostics
- DiaSorin S.p.A.
- Hologic Inc.
- Qiagen N.V.
- Agilent Technologies
- PerkinElmer Inc.
- Genomic Health (part of Exact Sciences)
- Mindray Medical International Limited
- Sysmex Corporation.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 17.88 Billion |
| Forecasted Market Value ( USD | $ 48.36 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
