Global In-Vitro Diagnostics Market was valued at US$ 68.92 billion in 2018 and is anticipated to reach US$ 98.18 billion by 2025 displaying a reasonable CAGR of 5.24% over the forecast period (2019-2025). In-vitro diagnostics are tests done on samples such as blood or tissue that have been taken from the human body. In-vitro diagnostics can detect diseases or other conditions and can be used to monitor a person’s overall health to help cure, treat, or prevent diseases. In-vitro diagnostics may also be used in precision medicine to identify patients who are likely to benefit from specific treatments or therapies. These in vitro diagnostics can include next-generation sequencing tests, which scan a person’s DNA to detect genomic variations. Some tests are used in the laboratory or other health professional settings and other tests are for consumers to use at home.
IVD is an important segment in the global healthcare industry. The marketplace is witnessing rapid growth fuelled by technological advancements, better diagnostic tools, and improved treatment monitoring, and increased availability of over-the-counter tests. IVDs add significant value to treatment processes and medical diagnoses, enhancing the well-being of the general public. Most treatment decisions today are based on IVD results. They ensure that the right patients receive the right treatments, thus protecting patients from incorrect, ineffective, or, at worst, harmful treatments; and reducing unnecessary healthcare expenditures. Early detection and diagnosis lead to early and appropriate intervention, thereby improving patient outcomes, saving lives and the costs related to expensive late-stage care.
The Global In-Vitro Diagnostics Market by product is segmented into reagents and instruments services. Reagents dominated the product segment of the global In-Vitro Diagnostics market with a 69.0% share in 2018. Diagnostic reagents, be they chemical, biochemical, or biological/biochemical in design, are dependent upon several different components working together to generate accurate, precise, and reliable patient test results. There are several recognized manufacturer for automated laboratory instrumentation and a wide range of different assays, kits and diagnostic tests, to serve the global In-Vitro Diagnostics (IVD) market.
There are several techniques for the In-Vitro Diagnostics to be utilized such as immunoassay, clinical chemistry, SMBG, molecular diagnostics, hematology, microbiology, point-of-care and hemostasis. The Immunoassay technique occupied the largest share of 24.7% in 2018 and is expected to maintain its dominance throughout the forecast period 2019-2025. Immunoassays are a technology that combines the principle of chemistry and immunology to enable scientific tests. Some of the most common immunoassays are Chemi- Luminescent Immunoassay (CLIA), Enzyme-linked immunosorbent assay (ELISA), Fluorescent immunoassay (FIA), Radioimmunoassay (RIA). These immunoassays are widely used for scientific research, in-vitro diagnostics, and drug discovery. Immunoassays are a cost-efficient, highly specific method for the detection of molecules not detectable by other techniques.
The In-Vitro Diagnostics market by applications is bifurcated into infectious diseases, diabetes, oncology, cardiology, nephrology, autoimmune diseases. In 2018, IVD was majorly used for the treatment and diagnosis of Infectious Diseases. The segment is expected to witness CAGR 4.89% during the forecast period 2019-2025 to generate revenue of US$ 33.73 billion by 2025. In the case of infectious diseases, in vitro diagnostic tests aim to detect and identify the responsible infectious agent, to establish its origin and to allow physicians to determine the appropriate treatment for the patient. Such tests are also important to prevent potential epidemics. Based on end-users, the global In-Vitro Diagnostics market is bifurcated into hospitals, clinics & labs, home care and other healthcare facilities. In 2018, the hospital segment occupied 47.6% share. In vitro diagnostic (IVD) investigations are indispensable for routine patient management. Appropriate testing allows early-stage interventions, reducing late-stage healthcare expenditure (HCE). In-Vitro Diagnostics market segmented based on usability include reusable and disposable IVD devices. The Reusable IVD Devices occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025.
Additionally, for better understanding on the Global In-Vitro Diagnostics market, a detailed analysis was conducted for various regions including North America (United States, Canada, Rest of NA), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Rest of APAC), Rest of World (Brazil, Other Rest of World). In 2018, North America dominated the market, however, the growing elderly population in Europe and Asia-Pacific would help the region to use more of in-vitro diagnostic technology for disease detection and treatment. Abbott Laboratories, Becton Dickinson, Biomérieux SA, Bio-Rad Laboratories, Inc, Danaher Corporation, Johnson & Johnson, Roche Holding AG, Siemens Healthineers AG, Thermo Fisher Scientific, and Sysmex Corporation are some of the prominent players operating in the Global In-Vitro Diagnostics market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Global In-Vitro Diagnostics Segmentation
Market Insights, by Product
· Reagents
· Instruments Services
Market Insights, by Technique
· Immunoassay
· Clinical Chemistry
· Self-Monitoring of Blood Glucose (SMBG)
· Molecular Diagnostics
· Hematology
· Microbiology
· Point-of-Care
· Hemostatis
Market Insights, by Application
· Infectious Disease
· Diabetes
· Oncology
· Cardiology
· Nephrology
· Autoimmune Disease
· Others
Market Insights, by End-User
· Hospitals
· Clinics & Laboratory
· Home Care
· Others
Market Insights, by Usability
· Disposable IVD Devices
· Reusable IVD Devices
Market Insights, by Region
· North America
o United States
o Canada
o Rest of NA
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o Australia
o India
o Rest of APAC
· Rest of World
o Brazil
o Other Rest of World
Top Company Profiles
· Abbott Laboratories
· Becton Dickinson
· Biomérieux SA
· Bio-Rad Laboratories, Inc
· Danaher Corporation
· Johnson & Johnson
· Roche Holding AG
· Siemens Healthineers AG
· Thermo Fisher Scientific
· Sysmex Corporation
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