Global In Vitro Diagnostics Market Trends, Applications, Analysis, Growth, And Forecast To 2027

The In-Vitro Diagnostics Market was valued at $90.4 billion in 2021 & is projected to reach $129.4 billion by 2027. It is expected to grow at a 7.7% CAGR between 2021 and 2027.

In-vitro diagnostics (IVD) are medical devices and accessories used to perform tests to detect diseases and infections by examining specimens of human body fluids such as urine, blood, tissues, stool, etc. It helps diagnose, and determine health conditions in order to cure, treat or prevent diseases or sequelae, and monitor drug therapies.

Devices used for tests can range from simple tests to DNA technology including reagents, calibrators, control materials, kits, software, instruments, etc. IVD holds great importance in the global healthcare industry as it helps protect the health and safety of patients by serving the best medical services.

IVD adds remarkable value to treatment processes and diagnoses and enhances the well-being of consumer patients and the population as a whole. Thus, the IVD market is witnessing rapid growth in the global healthcare market.

The rising prevalence of chronic diseases, increasing geriatric population, increasing number of private diagnostic centers, and more focus on decentralized point-of-care testing instead of centralized laboratories to strengthen the consumer patient base are major factors driving the growth of the global in-vitro diagnostics market.

In addition, continuous technological advancements, improvised IVD tools, improvised treatment monitoring, and availability of OTC tests are also fueling the growth of the global in-vitro diagnostics market growth.

However, poor reimbursement policies and high-cost involved in the R&D of technologies are restraining the growth of this market.

North American market dominates the global in-vitro diagnostics market owing to the presence of highly developed technologies and infrastructure.

The Asia Pacific market is expected to witness exponential growth owing to increasing investments by healthcare organizations and governments, rising preference for medical tourism, and efforts by key players to strengthen the consumer base in this region.

Among the products and services segments, the reagents & kits segment accounts for a major share and will continue to be the fastest-growing segment in the global in-vitro diagnostics market during the forecast period. Owing to the increasing number of in vitro diagnostics tests conducted and the availability of a wide range of reagents.

On the basis of application, the infectious diseases segment holds the largest share in the global in-vitro diagnostics market.

This is due to the rising prevalence of various infectious diseases such as tuberculosis, urinary tract infections, throat infections, hepatitis, hospital-acquired infections, etc. Moreover, the oncology/cancer segment is projected to register a high CAGR owing to the rising prevalence of cancer forms that demands early detection of the disease.

Global In-Vitro Diagnostics Market Segmentation:

Global in-vitro diagnostics market segmentation by products and services:

• Reagents & kits
• Instruments
• Services

Global in-vitro diagnostics market segmentation by techniques:

• Clinical chemistry
  • Basic metabolic panel
  • Electrolyte panel
  • Liver panel
  • Lipid profile
  • Renal profile
  • Thyroid function panel
  • Specialty chemical tests
• Immunochemistry/Immunoassay
  • Enzyme-linked immunosorbent assay (ELISA)
  • Radioimmunoassays (RIA)
  • Rapid tests
  • Western blot
  • ELISPOT
• Hematology
• Coagulation & hemostasis
• Clinical microbiology
• Molecular diagnostics (MDx)
  • Polymerase chain reaction (PCR)
  • Isothermal nucleic acid amplification technology (INAAT)
  • Microarrays
  • Hybridization
  • DNA sequencing & next-generation sequencing
  • Other MDX techniques
• Other techniques

Global in-vitro diagnostics market segmentation by application:

• Infectious Diseases
• Cancer
• Cardiac Diseases
• Immune System Disorders
• Nephrological Diseases
• Gastrointestinal Diseases
• Other applications

Global in-vitro diagnostics market segmentation by end-user:

• Hospitals
• Laboratories
• Academic Institutes
• Other end users (Point-Of-Care testing and Patient self-testing)

Global in-vitro diagnostics market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa