In Vitro Diagnostics: Technologies and Global Markets

In Vitro Diagnostics: Technologies and Global Markets

  • April 2021 •
  • 302 pages •
  • Report ID: 3423838 •
  • Format: PDF
Report Scope:
The scope of this study is global. The analyst examines each market and its applications, regulatory environment, technologies involved, market projections and market shares.

The emerging markets discussed include countries such as India, China, Korea, Taiwan, Africa, Australia, Brazil and Russia, among others.The report also examines IVD market drivers, as well as restraints and challenges affecting its growth.

Further, the report also highlights the emerging products and technologies and associated start-ups that are likely to accelerate the growth of the IVD industry through their best practices in the research and development of IVDs. Excluded from this study is diagnostic testing such as imaging, veterinary diagnostics and their associated products.

This study will provide information on these areas -
- Structure and current market size of the IVD market as outlined with forecasts through 2025.
- Impact of chronic diseases, growing and aging populations.
- Current technology and product suppliers and key innovations.
- A look at the IVD industry and trends affecting the market.
- Markets by each segment (immunochemistry, molecular diagnostics, POC tests, clinical microbiology, hematology and tissue diagnostics).
- A global overview showing market data for North America, Europe, Asia-Pacific and Latin America, Africa and the Middle East (LAAM).
- Emerging opportunities and potential investment opportunity areas for IVD.
- Technology patent trends relating to IVD.
- Profiles for more than 20 companies in the industry with significant contributions and market shares.

Report Includes:
- 47 data tables and 21 additional tables
- An overview of the global market for in vitro diagnostics (IVD) within the industry
- Analyses of global market trends, with data from 2019-2020, and projections of compound annual growth rates (CAGRs) through 2025
- Assessment of market dynamics such as drivers, restraints, opportunities, and identification of growth inhibiting areas that affect the global market
- Evaluation of market size and forecast, and technological advancements within the industry; and market share analysis of the global IVD market by application, segment and region
- A look at how the rise in the number of diseases like respiratory infections, hospital acquired infections (HAI), and sexually transmitted diseases are creating a constant need for IVD testing in hospitals and laboratories
- Coverage of technologies such as IVD for neglected infectious diseases, chemistry-based portable analysis and discussion on advantages of microfluidic platform based POC tests
- Detailed description on COVID-9 pandemic, including symptoms, and progression; information on coronavirus disease 2019 testing basics and impact analysis of COVID-19 on the IVD market
- Comprehensive company profiles of major market players, including Abbott Diagnostics Inc., Beckman Coulter, Becton, Dickinson and Co., Bio-Rad Laboratories, Roche Diagnostics, Siemens Healthcare and Thermo Fisher Scientific Inc.

In vitro diagnostics (IVD), of the utmost importance in the global healthcare industry, are the highest revenue segment of the medical device market, valued in the multi-billion-dollar range.IVD includes analyzers, reagents, disposable and reusable products, and accessory software products used by both clinical and research laboratories around the world.

IVDs range from simple self-use tests to state-of-the-art genomic tests performed in laboratories, and can be used in the diagnosis of infectious and chronic diseases, as well as for preventive care and drug therapy monitoring.

IVDs are of significant value to the general public, as they are deemed not only as indispensable tools of medical diagnoses but also as decision-making aids for disease prevention and timely treatment to enhance well-being and keep healthcare costs under check. In addition, IVDs are also one of the vital aids that address the needs of governments, payers and patients by delivering optimal, individualized and affordable treatments.

These factors and rapid technological developments should drive the growth of the IVD market in the next five years.The market is also expected to be driven by the aging demographics of the developed world, the rising demand and improving healthcare infrastructure in the developing world and, most importantly, the shift from curative to preventive healthcare for both infectious and chronic diseases such as diabetes.

Further, two emerging segments of IVDs—companion diagnostics and next-generation sequencing techniques—are expected to contribute to the market growth of IVDs through the decade.

Global Market Trends

The most significant market trend during 2020 was the origin and global spread of COVID-19, the disease caused by the novel coronavirus.Originating in late 2019 in China, the virus quickly became a global pandemic.

Global health organizations and diagnostic manufacturers quickly developed and approved tests for the virus.This effort overwhelmed all other trends in 2020.

One effect of this activity was a complete halt of merger and acquisition activity among major diagnostic manufacturers in 2020.

The global market for IVD products is estimated to be $REDACTED in 2020 and expected to grow at a CAGR of REDACTED% to reach $REDACTED through 2025.North America and Europe accounted for approximately two-thirds of the total IVD market.

Asia-Pacific occupied REDACTED% of the global IVD market, while the LAAM region accounted for REDACTED% in 2020.North America is expected to grow at a moderate CAGR of REDACTED% until 2025, while Europe should grow at a CAGR of REDACTED%.

While the LAAM region’s CAGR is slightly more than double the growth rate of North America at REDACTED%, Asia-Pacific is the fastest-growing region with a double-digit growth rate of REDACTED%.

Because of its large population and its position as a medical technology innovation hub, North America is the global leader in terms of IVD utilization.It remains the largest market, accounting for roughly REDACTED% of the total market in 2020.

The emerging markets of India, China, Russia and Brazil are poised to grow at double-digit growth rates due to rising incomes, growing healthcare budgets and heightened health awareness among the population.