In-Vitro Diagnostics (IVD) Market Is expected to be Worth around USD 70,730 Million By 2025 - Zion Market Research
NEW YORK, Oct. 18, 2021 /PRNewswire/ -- Zion Market Research has published a new research report titled "In-Vitro Diagnostics (IVD) Market by Product (Instruments, Reagents, and Services), by Technology (Immunology, Hematology, Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology, and Others), by Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing, and Others), and by End-Use (Hospital, Laboratory, Home Care, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global in-vitro diagnostics (IVD) market was around USD 50,113 million in 2018 and is expected to reach approximately USD 70,730 million by 2025, at a CAGR of around 5.01% between 2019 and 2025.
In-vitro diagnostics (IVD) is used to identify various types of diseases and infections. In-vitro diagnostics products include reagents, instruments, etc. that are used for the infection analysis. The demand for in-vitro diagnostics (IVD) is on the rise due to the growing occurrences of chronic diseases across the world. Other factors likely to push the in-vitro diagnostics (IVD) market growth include rising geriatric population, growing incidences of long-lasting lifestyle-related diseases, an increasing number of infectious diseases, escalating alertness of personalized medicine, and the augmenting acceptance of point-of-care analysis. Though, stringent regulatory outlines and insufficient compensation may restrict the global in-vitro diagnostics (IVD) market growth to a certain extent.
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The global in-vitro diagnostics (IVD) market is categorized based on product, technology, application, and end-use. Based on product, the global in-vitro diagnostics (IVD) market is divided into instruments, reagents, and services. Reagents are expected to lead the global market over the forthcoming years due to an increase in the number of research and development initiatives and growing demand for self-test and point-of-care products.
Based on technology, the market includes immunology, coagulation, clinical chemistry, microbiology, hematology, molecular diagnostics, and others. Immunoassays held a major market share in 2018 due to their better acceptance as they offer high throughput and high sensitivity at low costs.
By application, the market includes cardiology, infectious disease, autoimmune diseases, diabetes, drug testing, nephrology, oncology, and others. The infectious disease segment is projected to hold the largest market share in the upcoming years, owing to the high incidences of tuberculosis, pneumonia, and HIV/AIDS. The oncology segment is likely to witness the fastest CAGR in the years ahead, owing to the growing demand for POC diagnostics and self-care devices for long-lasting diseases management.
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Based on end-user, the market includes hospital, laboratory, home care, and others. Hospitals are estimated to dominate globally in the forthcoming years owing to the huge volume of analytical tests being performed in hospitals and the growing incidences of hospital-acquired infections.
By region, North America will be the fastest growing region in the global in-vitro diagnostics (IVD) market in the future. Promising government rules, huge healthcare spending, and the presence of renowned key players operating in the market are some significant factors for this regional market's development. The Asia Pacific is predicted to witness the fastest progress rate over the estimated time period, owing to the huge unmet clinical requirements and improving healthcare structure across the region.
Some key players of the global in-vitro diagnostics (IVD) market are Alere, bioMerieux SA, Becton, Dickinson, and Company, F. Hoffmann-La Roche Ltd., Siemens Healthineers, Qiagen, Hologic, Inc. (Gen-Probe), Abbott, Danaher, Sysmex Corporation, and Cepheid.
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This report segments the global in-vitro diagnostics (IVD) market into:
Global In-Vitro Diagnostics (IVD) Market: By Product
- Instruments
- Reagents
- Services
Global In-Vitro Diagnostics (IVD) Market: By Technology
- Immunology
- Hematology
- Clinical Chemistry
- Molecular Diagnostics
- Coagulation
- Microbiology
- Others
Global In-Vitro Diagnostics (IVD) Market: By Application
- Infectious Disease
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Drug Testing
- Others
Global In-Vitro Diagnostics (IVD) Market: By End-Use
- Hospital
- Laboratory
- Home Care
- Others
By Region
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- · Brazil
- · Mexico
- · Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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