In-Vitro Diagnostics Market: Trends, Opportunities and Competitive Analysis [2023-2028]

In-Vitro Diagnostics Market Trends and Forecast

The future of the in-vitro diagnostics market looks promising with opportunities in the hospitals, laboratories, and home care end use industries. The global in-vitro diagnostics market is expected to reach an estimated $127.3 billion by 2028 with a CAGR of 5.0% from 2023 to 2028. The major drivers for this market are increasing prevalence of chronic diseases and growing demand for automated IVD systems for laboratories as well as hospitals to deliver accurate, error-free, and efficient diagnoses.

In-Vitro Diagnostics Market by Product, Application, Technology, End Use Industry, and Region

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

In-Vitro Diagnostics Market by Segments

In-Vitro Diagnostics Market by Segment

The study includes trends and forecast for the global in-vitro diagnostics market by product, application, technology, end use industry, and region, as follows:

In-Vitro Diagnostics Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:

Instruments

Reagents

Services

In-Vitro Diagnostics Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Infectious Diseases

Diabetes

Oncology

Cardiology

Nephrology

Autoimmune Diseases

Drug Testing

Others

In-Vitro Diagnostics Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

Immunoassay

Instruments

Reagents

Services

Hematology

Instruments

Reagents

Services

Clinical Chemistry

Instruments

Reagents

Services

Molecular Diagnostics

Instruments

Reagents

Services

Coagulation

Instruments

Reagents

Services

Microbiology

Instruments

Reagents

Services

Others

Instruments

Reagents

Services

In-Vitro Diagnostics Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

Hospitals

Laboratories

Home Care

Others

In-Vitro Diagnostics Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of In-Vitro Diagnostics Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, in-vitro diagnostics companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the in-vitro diagnostics companies profiled in this report include-

Abbott

bioMerieux

Bio-Rad

Siemens Healthineers

Qiagen

In-Vitro Diagnostics Market Insights

Lucintel forecast that infectious diseases will remain the largest segment over the forecast period due to growing number of life-threatening diseases, such as HIV/AIDS, tuberculosis, diphtheria, hepatitis, and pneumonia.

Laboratories are expected to remain the largest segment due to the growing awareness about personalized medicine and the availability of technologically advanced equipment.

North America will remain the largest region due presence of well-established healthcare infrastructure, rising geriatric population, and an increase in healthcare expenditure.

Features of the In-Vitro Diagnostics Market

Market Size Estimates: In-vitro diagnostics market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: In-vitro diagnostics market size by various segments, such as product, application, technology, end use industry, and region

Regional Analysis: In-vitro diagnostics market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different products, applications, technology, end use industries, and regions for the in-vitro diagnostics market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the in-vitro diagnostics market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the in-vitro diagnostics market size?

Answer: The global in-vitro diagnostics market is expected to reach an estimated $127.3 billion by 2028.

Q2. What is the growth forecast for in-vitro diagnostics market?

Answer: The global in-vitro diagnostics market is expected to grow with a CAGR of 5.0% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the in-vitro diagnostics market?

Answer: The major drivers for this market are increasing prevalence of chronic diseases and growing demand for automated IVD systems for laboratories as well as hospitals to deliver accurate, error-free, and efficient diagnoses.

Q4. What are the major segments for in-vitro diagnostics market?

Answer: future of the in-vitro diagnostics market looks promising with opportunities in hospitals, laboratories, home care, and others.

Q5. Who are the key in-vitro diagnostics companies?

Answer: Some of the key in-vitro diagnostics companies are as follows:

Abbott

bioMerieux

Bio-Rad

Siemens Healthineers

Qiagen

Q6. Which in-vitro diagnostics segment will be the largest in future?

Answer: Lucintel forecast that infectious diseases will remain the largest segment over the forecast period due to growing number of life-threatening diseases, such as HIV/AIDS, tuberculosis, diphtheria, hepatitis, and pneumonia.

Q7. In in-vitro diagnostics market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to presence of well-established healthcare infrastructure, rising geriatric population, and an increase in healthcare expenditure.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the in-vitro diagnostics market by product (instruments, reagents, and services), application (infectious diseases, diabetes, oncology, cardiology, nephrology, autoimmune diseases, drug testing, others), technology (immunoassay, hematology, clinical chemistry), molecular diagnostics, coagulation, microbiology, and others), end use industry (hospitals, laboratories, home care, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?