The in vitro diagnostics market was valued at USD 99.2 billion in 2021 and it is anticipated to grow further till USD 131.2 billion by 2031, at a CAGR of 2.8% during the forecast period.
IVD products are used in hospitals, standalone labs, and point-of-care testing centers. To enable smooth operations, the in vitro testing approach requires the use of a number of reagents as well as software. Additionally, a variety of medical conditions, such as infectious diseases, diabetes, cancer, oncology, cardiac disorders, autoimmune disorders, nephrology, and HIV/AIDS, are diagnosed using in vitro diagnostics. The rise in the prevalence of chronic and infectious diseases is a primary factor driving the IVD market’s expansion. Chronic diseases like diabetes, cancer, cardiovascular disease, and tuberculosis are becoming more common in the contemporary business environment.
To remain ‘ahead’ of your competitors, request for a sample: https://www.globalinsightservices.com/request-sample/GIS20055/
Market Trends and Drivers
The centralized laboratory using automated analytical testing techniques to identify target analytes continues to be the predominant laboratory testing model in use today. This pattern is already well-established in the fields of clinical chemistry and hematology, and it is currently spreading to others like immunoassays and molecular diagnostics. In comparison to traditional diagnostic methods, point-of-care devices are more affordable, simpler to use, and produce the quick results needed to start making decisions. The need to organize healthcare services around the patient rather than the practitioner has a significant impact on the rising adoption of POCT devices. Because the testing procedure is frequently separated from the consultation, centralized testing does not represent a convenient approach for many patients.
Global In Vitro Diagnostics Market Segmentation
By Product & Services
• Reagents & Kits
• Instruments
• Services
• Data Management Software
By Technology
• Immunoassay/Immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Hematology
• Microbiology
• Coagulation and Hemostasis
• Urinalysis
• Other Technologies
Get a Customized Scope to Match Your Need, Ask an Expert: https://www.globalinsightservices.com/request-customization/GIS20055
By Application
• Infectious Diseases
• Diabetes
• Oncology
• Cardiology
• Drug Testing/Pharmacogenomics
• Autoimmune Diseases
• HIV/AIDS
• Nephrology
COVID-19 Impact
In a best-case scenario, the COVID-19 epidemic has benefited the IVD industry. The pandemic boosted the need for immunodiagnostics and molecular testing, which were thought to be the gold standard for identifying infectious disorders, which in turn increased the need for related consumables and kits. Due to the need for quicker on-site screening, the amount of point-of-care (POC) testing increased during the COVID-19 epidemic. Sales of COVID-19 diagnostic tests were a crucial factor in the primary players’ revenue rise during the pandemic.
Major Players in the Global In Vitro Diagnostics Market:
The key players in the global in vitro diagnostics market are Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott (US), Thermo Fisher Scientific (US), Johnson & Johnson (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), DiaSorin (Italy), Ortho Clinical Diagnostics (US), and QIAGEN N.V. (Netherlands) among others.
For In-Depth Competitive Analysis, Purchase this Report: https://www.globalinsightservices.com/checkout/single_user/GIS20055
With Global Insight Services, you receive:
- 10-year forecast to help you make strategic decisions
- In-depth segmentation which can be customized as per your requirements
- Free consultation with lead analyst of the report
- Excel data pack included with all report purchases
- Robust and transparent research methodology
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1–833–761–1700
Website: https://www.globalinsightservices.com/