In-vitro Diagnostics Market - By Product (Reagents & Kits, Instruments), By Test (Clinical Chemistry, Immunoassay, Hematology, Urinalysis), By Application (Oncology, Infectious Diseases, Diabetes, Cardiology, Nephrology), End-user & Forecast to 2032

In-vitro Diagnostics Market Size

In-vitro Diagnostics Market size surpassed USD 101 billion in revenue in 2022 and is estimated to grow at a 3.5% CAGR between 2023 and 2032 driven by surging incidences of chronic diseases such as blood pressure, other heart ailments, and lifestyle diseases.
 

To understand key trends  
Download Free Sample
 

The product demand is primarily fueled by the cumulative growth of infectious and chronic diseases worldwide. In-vitro diagnostics tests help in the accurate diagnosis of the underlying condition and thereby facilitate in providing effective treatment to the patients. Being the first line of defense against numerous diseases, these tests have grown in popularity, spurring market expansion.
 

High costs of diagnostic services may restrain industry progression

The expense of in-vitro diagnostic services may hinder industry growth over the forecast timeframe. Nations with massive geriatric populations are most susceptible to chronic infections and refrain from opting for these diagnostic services due to a lack of economic compatibility. The creation of IVD tests involves extensive R&D, thereby demanding a large sum of investment, which is frequently passed on to the consumer, impeding business expansion. Nonetheless, a rising number of pathology labs and services incorporated with advanced diagnostics machines is likely to help overcome this issue.
 

In-vitro Diagnostics Market Analysis

To understand key market trends  
Download Free Sample
 

In terms of product, the in-vitro diagnostics market from the reagents & kits segment is speculated to reach a valuation of more than USD 97.5 billion by 2032. The increasing instances of viral and fungal infections, particularly in the United States and developing nations such as India with inadequate hygienic conditions, are promoting the use of reagents. Thus, prominent efforts by market participants to offer superior-quality molecular reagents and kits for better patient management and care are fueling segment trends.
 

In-vitro diagnostics market from the diagnostic laboratories segment is foreseen to garner over USD 62 billion By 2032,owing to the mounting number of diagnostic centers and easy access to routine blood checkups, urine tests, and other common diagnostic tests in these facilities, thus, proving beneficial for the segment progression. According to the CDC, there are 330,000 CLIA-certified laboratories in the United States and nearly 70% of medical decisions in healthcare depend on 14 billion diagnostics tests conducted annually.
 

In-vitro diagnostics market from the hematology segment is anticipated to progress at more than 4% CAGR from 2023 to 2032 propelled by the escalating prevalence of genetic disorders. Additionally, the COVID-19 pandemic has further highlighted the significance of hematology tests due to their crucial role in the diagnosis and management of the disease, leading to an increase in demand for hematology testing.
 

The in-vitro diagnostics market from the infectious diseases segment is projected to be worth over USD 42 billion by 2032. The soaring prevalence of antibiotic resistance has emphasized the need for more targeted and efficient treatment techniques that are based on precise diagnostic results. Additionally, the demand for rapid diagnostic tests to identify and contain outbreaks also complemented segment expansion. During the COVID-19 pandemic, the US FDA provided emergency use authorizations to IVDs for SARS-CoV-2 detection and published diagnostic templates for EUA submissions for quick reach to patients.
 

To understand key market trends  
Download Free Sample
 

North America in-vitro diagnostics market is slated to grow at more than 3% CAGR over 2023-2032 attributed to the escalating adoption of in-vitro diagnostics and supportive improvements in healthcare infrastructure. Furthermore, the strong presence of business players is also driving regional development.
 

In-vitro Diagnostics Market Share

• Abbott, BioMerieux SA
• Becton
• Dickinson
• and Company, F. Hoffman - La Roche AG
• Danaher Corporation
• Sysmex Corporation
• Thermo Fischer Scientific
• DiaSorin
• Bio-Rad Laboratories, Inc.
• Ortho Clinical Diagnostics (QuidelOrtho),
• Qiagen
• and Siemens Healthineers

are some of the key participants involved in the market. These firms are engaging in production capacity expansion and portfolio diversification tactics to stay ahead in the competitive landscape.
 

The in-vitro diagnostics market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report

By Product

• Reagents & kits
• Instruments

By Test

• Clinical chemistry 
• Immunoassay/immunochemistry 
• Molecular diagnostics
• Hematology 
• Urinalysis 
• Others

By Application

• Oncology 
• Infectious diseases
• Diabetes 
• Cardiology 
• Nephrology 
• Autoimmune diseases 
• Drug testing/pharmacogenomics 
• Others

By End-user

• Hospitals
• Diagnostic laboratories
• Academic & research institutes 
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Qatar