In-vitro Diagnostic Services Market Size & Share 2018 - 2024
Market Size by Service Type {Software (Standalone Software, Software Update), Testing Services (Infectious Testing, Diabetes Testing, Molecular Testing, Tissue Testing)}, by End User (Hospitals, Point-Of-Care Testing, Laboratories, Academic Institutes), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast.
Report ID: GMI2889
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Published Date: September 2018
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Report Format: PDF
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Authors:
Mariam Faizullabhoy, Gauri Wani
In-vitro Diagnostic Services Market Size
In-vitro Diagnostic Services Market size was valued at USD 44.0 billion in 2017 and is expected to witness 5.4% CAGR from 2018 to 2024.
Rising number of cancer cases in Asian as well as western countries should drive in-vitro diagnostic services industry growth in upcoming years. According to Livemint in 2016, India had over 3.9 million cases of cancer that will accelerate the demand for in-vitro diagnostic services. Moreover, growing elderly population suffering from chronic diseases such as diabetes and cardiovascular disorders will influence the industry growth. In the U.S., there are around 78 million people in the age group of 65 years and above. Majority of elderly people suffer from at least one chronic disease or infection that should upsurge the demand for in-vitro diagnostic services in near future.
Increasing rate of detection of genetic and infectious diseases in developed economies will escalate IVD services industry growth. Over 133 million Americans are detected with at least one chronic disease that will increase the demand for in-vitro diagnostic services surging industry growth. American organizations such as National Association of Chronic Diseases implements certain initiatives that will raise awareness of disease detection among the population should positively influence in-vitro diagnostic services industry growth. However, high costs associated with diagnostic services will restrain industry growth.
In-vitro Diagnostic Services Market Analysis
Software segment will grow at 4.5% over the forecast timeframe due to growing preference for reliable and efficient diagnostic software that will help to maintain patient’s record. Also, software enables analysis of the gene sequencing information that will boost drug discovery process and is expected to render positive impact on segmental growth. In-vitro diagnostic companies such as Roche have partnered with Microsoft and Cleidon that will help in broadening its software offerings and will also prove beneficial for business growth.
Testing services segment was valued at USD 34.8 billion in 2017 and is projected to grow significantly over the forecast timeframe as a result of growing elderly population globally will augment demand for in-vitro diagnostic services surging the segmental growth. High demand for diagnostic services such as mammography, colonoscopy, blood tests and liquid biopsy should further augment the industry growth. According to CDC in 2015, 65.3% women in the age group of 40 years and above underwent the mammography tests in the U.S. that should impel segmental growth in forthcoming years.
Hospital segment will grow at 4.3% over the forecast timeframe due to increasing prevalence of chronic diseases in developed as well as developing countries. Moreover, growing healthcare associated infections should impact the segmental growth positively. According to CDC in 2015, Americans spent around 32.3% of the total expenditures on hospital care that will enhance business growth.
Point-of-care testing segment accounted for 23.5% revenue share in 2017 and is expected to grow over the forecast timeframe. Technological advancements coupled with increasing prevalence of genetic diseases requiring critical monitoring should increase demand for point-of-care testing that will upsurge the segment growth in forthcoming years.
U.S. dominated North American market and was valued at USD 16.7 billion in 2017 as a result of increasing demand for diagnostic services and growing adoption rate of software. Development in public healthcare system will increase the availability of superior quality diagnostic services that should impel industry growth in upcoming years.
Germany market will grow at 4.5% CAGR over the estimated forecast timeframe. Exponential regional growth can be attributed to increasing adoption rate of superior quality diagnostic devices that enhances the performance of diagnostic procedures stimulating the industry growth in future. Moreover, increasing geriatric population preferring in-vitro diagnostic services will trigger the industry growth.
In-vitro Diagnostic Services Market Share
Major industry players include:
These industry players adopt strategic initiatives that help them to maintain their market share. For instance, Roche developed Accu-Chek 360° diabetes management software that ensures accurate storage of patient’s information and helps in reviewing the historical data. Addition of new products to the portfolio will enhance revenue generation for the company.
In-vitro Diagnostic Services Industry Background
IVD services market is consolidated in nature and is dominated by only few industry players. Additionally, in-vitro diagnostic services industry has evolved drastically and has led to improvements in the software developed by the companies. For instance, organizations such as Roche diagnostics and OraSure are merging with leading software companies to enhance their product offerings to sustain market competition. Also, with an increase in prevalence of cancer globally, the key industry players have added innovations in most preferred diagnostic tests such as mammography, echocardiography and colonoscopy that facilitates efficient diagnosis thereby, escalating demand for diagnostic services in forthcoming years. Furthermore, development in vendor and overall distribution network of the suppliers for software utilised under in-vitro diagnostic services will ensure sustainable industry growth.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →