Global IVD Market Outlook to 2029
Region:Global
Author(s):Lakshyata, Rohit Bansal
Product Code:KENGR064
January 2025
85
About the Report
Global IVD Market Overview
- The Global In Vitro Diagnostics (IVD) market is valued at USD 115.6 bn based on a comprehensive historical analysis. This growth is driven by advancements in diagnostic technologies, the rising prevalence of chronic diseases, and the increasing adoption of point-of-care (POC) testing. Factors like the growing demand for early disease detection and personalized medicine have further accelerated the adoption of innovative diagnostic tools across healthcare facilities.
- North America and Europe dominate the global IVD market due to the presence of advanced healthcare infrastructure, strong government support for research and development, and the widespread adoption of innovative diagnostic solutions. North America leads in innovation, while Europe benefits from stringent regulatory frameworks ensuring high-quality diagnostic products.
Global IVD Market Segmentation
Global IVD Market is divided into further segments:
- By Workflow: Global IVD Marketis segmented byworkflow into Centralized Testing, Decentralized Testing, Referral & Peripheral Testing. Centralized testing continues to dominate the market due to its cost-efficiency and high-volume testing capacity, making it the preferred choice for hospitals and large diagnostic labs. Decentralized testing holds the second position, driven by the increasing adoption of point-of-care testing for faster results in outpatient and home-care settings.
- By Region: The IVD market is segmented by region into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America leads due to its robust healthcare system and significant investment in healthcare research. Asia-Pacific is growing rapidly, supported by increasing healthcare awareness and infrastructure development.
- By Application: Infectious diseases dominate the application segment due to the ongoing demand for diagnostic tools to combat emerging and re-emerging infectious threats. Oncology diagnostics are growing steadily, driven by advancements in precision medicine and companion diagnostics. Cardiology shows notable growth, fueled by the increasing prevalence of heart diseases. Diabetes diagnostics remain critical due to the global rise in diabetes cases.
Global IVD Market Competitive Landscape
The global In Vitro Diagnostics (IVD) market is dominated by leading companies such as Roche Diagnostics, Abbott Laboratories, Danaher Corporation, Siemens Healthineers, and Illumina, Inc. These organizations have maintained their positions due to robust R&D investments, innovative product offerings, and expansive distribution networks. Their dominance is reinforced by strategic partnerships, acquisitions, and focus on emerging technologies like molecular diagnostics and next-generation sequencing.
Global IVD Industry Analysis
Market Growth Drivers
- Rising Prevalence of Chronic Diseases: The increasing incidence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is driving the demand for diagnostic tests. Early diagnosis and monitoring of these conditions are critical, boosting the adoption of IVD products.According to the World Health Organization (WHO), around1.5 million deathswere directly attributed to diabetes in recent years, highlighting the urgent need for effective monitoring and diagnostic solutions.
- Technological Advancements: Innovations in diagnostic technologies, including molecular diagnostics, next-generation sequencing (NGS), and point-of-care testing (POCT), are significantly enhancing the accuracy, efficiency, and accessibility of IVD tools. For instance, molecular diagnostics enable precise identification of pathogens and genetic markers associated with diseases, improving clinical decision-making.
- Aging Population: The global aging population is more prone to chronic and age-related diseases, leading to higher demand for diagnostic tests and regular monitoring, which is driving market growth. As individuals age, the prevalence of conditions requiring diagnostic testing rises, which significantly contributes to market growth.
Market Challenges
- Ethical and Privacy Concerns: As the demand for biofuels grows, ethical issues such as deforestation, biodiversity loss, and the diversion of food crops for fuel production have come to the forefront. The Nuffield Council on Bioethics highlights that biofuels should not compromise essential human rights, including access to food and water, and emphasizes the need for a framework that ensures ethical practices in biofuel production.
- High Costs of Advanced Diagnostics: Thehigh costs associated with advanced biofuelscan also limit their adoption, especially in developing regions with constrained healthcare budgets. While biofuels present a promising alternative to fossil fuels, the investment required for advanced technologiessuch as next-generation biofuels derived from lignocellulosic materials or algaecan be prohibitive.
Global IVD Future Market Outlook
The IVD market is expected to grow significantly over the next five years reaching a market size of USD 139.4 Bn by 2029, driven by advancements in technology, increasing healthcare awareness, and the rise of personalized medicine. The integration of artificial intelligence (AI) in diagnostics, coupled with the increasing demand for home-based testing, will reshape the market landscape.
Market Opportunities
- Shift Towards Personalized Medicines: The growing emphasis onpersonalized medicineis driving demand for specialized diagnostic tests that can identify specific biomarkers, allowing for tailored treatments to individual patients. This trend is expected to continue influencing various sectors, including biofuels, where personalized approaches can enhance production efficiency and sustainability.
- Rise of Point-of-Care Testing (POCT): The significant shift towardspoint-of-care testing(POCT) reflects a growing demand for convenience, quick turnaround times, and immediate results, particularly in emergency and remote settings. Similarly, the biofuels market is likely to benefit from innovations that enhance the speed and efficiency of biofuel production processes.
Scope of the Report
|
Segment |
Sub-Segments |
|---|---|
|
Application Area |
Infectious Diseases Oncology Cardiology Diabetes Autoimmune Diseases Nephrology Drug Testing Others |
|
Workflow Type |
Centralized Testing Decentralized Testing Referral & Peripheral Testing |
|
Region |
North America Europe Asia-Pacific Latin America Middle East & Africa |
Products
Key Target Audience
- Diagnostic Laboratories
- Hospitals and Clinics
- Healthcare Providers
- Government and Regulatory Bodies (FDA, EMA)
- Investors and Venture Capitalist Firms
- Homecare Solution Providers
- Point-of-Care Testing Manufacturers
- Medical Device Distributors
Companies
Players mentioned in the report:
- Roche Diagnostics
- Abbott Laboratories
- Danaher Corporation
- Siemens Healthineers
- Illumina, Inc
Table of Contents
1 Market Overview
1.1 Ecosystem: Major Players
1.1.1 Manufacturers/Producers
1.1.2 Geographical Presence, Key Product Offerings & Referred Product Link
1.1.3 Heatmap of Manufacturers by Type of Products & Regions
1.2 Value Chain
1.2.1 Flow of Solutions from Plant to End-User through Various Distribution Channels
1.3 Market Taxonomy
1.3.1 Basis Type: Decentralized Testing, Referral & Peripheral Testing, Centralized Testing
1.3.2 Basis Revenue Model: Instrument & Equipment Sales, Diagnostic Kits & Reagents Sales, Software & Data Solutions
1.3.3 Basis Distribution Model: Direct Sales, Medical Distributors, OEM Partnerships, Clinical & Trade Shows, Tender Processes
1.3.4 Basis Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
1.3.5 Basis Manufacturer: Company-Owned Plants, Contract Manufacturing, Custom Manufacturing
1.3.6 Basis End-User: Hospitals, Clinics, Labs, Academic Institutes, Blood Banks, Pharma & Biotech Companies
1.3.7 Basis Test Type: Lab Test, Point-of-Care Test
1.3.8 Basis Technology: Hemostasis, Hematology, Tissue Diagnostics, Clinical Microbiology, Critical Control, Molecular Diagnostics, Point-of-Care Testing, Self-Monitoring Blood Glucose
1.3.9 Basis Product & Services: Reagents & Kits, Instruments, Data Management & Services
1.3.10 Basis Application: Infectious Diseases, Oncology, Cardiology, Blood Screening, Genetic Testing, Autoimmune Diseases, Allergy Diagnostics, Others
1.3.11 Basis Specimen: Blood, Serum, Plasma, Urine, Saliva, Others
2 Market Size
2.1 Market Size for Global IVD Market
2.1.1 Market Size by Value (2018-2029)
2.1.2 Analysis of Market Growth/Decline
2.1.3 Key Factors Driving Market Expansion
2.1.4 Government Regulations Impacting Growth
2.1.5 Changes in Competitive Landscape
3 Market Segmentation
3.1 Market Segmentation by Workflow
3.1.1 Market Size & Share for Centralized, Decentralized, Referral & Peripheral Testing (2018-2029F)
3.1.2 Growth Trend of Each Segment Over the Years
3.1.3 Factors Driving Higher Growth in Specific Sub-Segments
3.2 Market Segmentation by Technology
3.2.1 Market Size & Share for CC&IA, Molecular Diagnostics, POCT, SMBG, Tissue Diagnostics, Clinical Microbiology, Hematology, Hemostasis, Others (2018-2029)
3.2.2 Growth Trend of Each Segment Over the Years
3.2.3 Factors Driving Higher Growth in Specific Sub-Segments
3.3 Market Segmentation by Application
3.3.1 Market Size & Share for Infectious Diseases, Oncology, Cardiology, Diabetes, Autoimmune Diseases, Nephrology, Drug Testing, Others (2018-2029)
3.3.2 Growth Trend of Each Segment Over the Years
3.3.3 Factors Driving Higher Growth in Specific Sub-Segments
3.4 Market Segmentation by Product & Services
3.4.1 Market Size & Share for Reagents & Kits, Instruments, Data Management & Services (2018-2029F)
3.4.2 Growth Trend of Each Segment Over the Years
3.4.3 Factors Driving Higher Growth in Specific Sub-Segments
3.5 Market Segmentation by Region
3.5.1 Market Size & Share for North America, Europe, Asia-Pacific, Latin America, Middle East & Africa (2018-2029)
3.5.2 Growth Trend of Each Region Over the Years
3.5.3 Factors Driving Regional Growth Differences
3.6 Market Segmentation by Top Players
3.6.1 Market Share for Leading IVD Manufacturers (2023)
3.6.2 Growth Trend of Each Manufacturer Over the Years
3.6.3 Factors Influencing Market Leadership
4 Competitive Framework
4.1 Competitive Framework of Major Players
4.1.1 Competition Matrix of Key Players in the Global IVD Market
4.1.2 Analysis of Number of Diseases Catered vs. Geographical Presence
4.1.3 Revenue Breakdown of Market Leaders
4.2 Ansoff Matrix
4.2.1 Ansoff Matrix for the Global IVD Market
4.2.2 Market Expansion Strategies Adopted by Key Players
5 Competitive Landscape
5.1 Cross Comparison of In Vitro Diagnostics Manufacturers
5.1.1 Company Overview: Establishment Year, Headquarters, Geographic Presence, Global Headcount
5.1.2 Operational Parameters: Focus Areas by Diseases, Customer Areas Catered, Manufacturing Facilities Count
5.1.3 Financial Parameters: Group Revenue, IVD Market Revenue, Revenue Breakdown by Region & Customer Segment, Gross Margin, R&D Expenditure
5.1.4 Additional Information: Industry Compliance & Certifications, Strategic Partnerships & Acquisitions, New Product & Production Technology
6 Market Dynamics
6.1 Growth Drivers
6.2 Market Trends
6.3 Challenges
7 Future Market Outlook (2024-2029)
7.1 Expected Growth Rate of the IVD Market
7.2 Factors Driving Market Expansion in the Forecast Period
7.3 Emerging Market Trends & Technological Innovations
Disclaimer
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Research Methodology
Step 1: Secondary Research
Extensive desk research is conducted to gather data from credible sources, including industry reports, company filings, government publications, and trusted secondary resources. This phase aims to map the IVD market landscape by understanding historical trends, current market dynamics, and future growth opportunities.
Step 2: Validation via Trade Desk Interviews
Insights gathered during secondary research are validated through trade desk interviews with industry stakeholders. Over 30 service providers, 25 distributors, 15 industry experts, and 10 regulatory body representatives are consulted. Discussions focus on operational insights, product demand trends, regulatory impacts, and market challenges. The length of interviews (40-45 minutes for service providers and shorter durations for others) ensures detailed responses.
Step 3: Proxy Modelling and Outcomes
Quantitative and qualitative data obtained from stakeholders are used to construct robust market models. Proxy modeling ensures reliable estimation of market metrics, such as market size, segmentation, and growth drivers. The outcomes are thoroughly cross-referenced with market-specific dynamics and industry expert inputs for accuracy.
Frequently Asked Questions
01. How big is the global IVD market?
The global IVD market is valued at USD 115.6 bn, driven by advancements in diagnostic tools and increasing prevalence of chronic diseases.
02. What are the challenges in the IVD market?
Challenges in the global IVD market include stringent regulatory requirements, high costs of advanced diagnostic devices, and reimbursement constraints in developing regions.
03. Who are the major players in the IVD market?
Key players in the global IVD market include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Thermo Fisher Scientific, and bioMrieux, among others.
04. What drives the growth of the IVD market?
The global IVD market is propelled by the growing need for early disease detection, personalized medicine, and the integration of AI in diagnostic solutions.
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