In Vitro Diagnostics (IVD) Market to Receive USD 164.99 Billion by 2029, Size, Shares, Trends, Future Demand, Growth Opportunities and Revenue Analysis
Data Bridge Market Research
10 min read
Data Bridge Market Research
Data Bridge Market Research analyses that the In vitro diagnostics (IVD) market which was USD 111.67 billion in 2021, would rocket up to USD 164.99 billion by 2029, and is expected to undergo a CAGR of 5.00% during the forecast period 2022 to 2029
LONDON, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The comprehensive industry research on In Vitro Diagnostics (IVD) Market' published by Data Bridge Market research includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The report carefully examines the global In Vitro Diagnostics (IVD) Market, with a focus on most of the major players and their business strategies, geographical scope, market segments, product landscape and price, and cost structure. In Vitro Diagnostics (IVD) market report encompasses different industry verticals for In Vitro Diagnostics (IVD) industry such as company profile, contact details of the manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company.
Data Bridge Market Research analyses that the In vitro diagnostics (IVD) market which was USD 111.67 billion in 2021, would rocket up to USD 164.99 billion by 2029, and is expected to undergo a CAGR of 5.00% during the forecast period 2022 to 2029.
The tests used inin vitro diagnostics are carried out on a person's blood or tissue sample. They assist in keeping a close eye on the patient's health and are used to accurately test for and diagnose diseases or any underlying issues. These diagnostic procedures can assist in determining the optimal course of treatment for each individual.
Devices are used in specialised medical facilities to carry out diagnostics since the application and management of the IVD market require technical competence. To diagnose illnesses, disorders, and infections, in vitro diagnostics (IVD) refers to the reagents, tools, and software used to analyse specimens taken from the human body, such as blood, urine, stool, tissues, and other physiological fluids. Other IVD device types employ various techniques, including immunodiagnostics, tissue diagnostics, haematological, and molecular diagnostics.
Opportunities
The growth of the market is anticipated to be fuelled by the creation of automated IVD systems for labs and hospitals to give quick, precise, and error-free diagnosis. The market is expanding as a result of the increasing number of IVD products being introduced by major companies.
Some of the major players operating in the in vitro diagnostics (IVD) market are:
Siemens (Germany)
General Electric (U.S.)
Koninklijke Philips N.V. (Netherlands)
CANON MEDICAL SYSTEMS CORPORATION (Japan)
Hitachi Ltd. (Japan)
FUJIFILM Holdings Corporation (Japan)
Carestream Health (U.S.)
Konica Minolta Business Solutions India Private Limited (Japan)
Value chain analysis of prominent players in the market
Current trends influencing the dynamics of this market across various geographies
Recent mergers, acquisitions, collaborations, and partnerships
Revenue growth of this industry over the forecast period
Marketing strategy study and growth trends
Growth driven factor analysis
Emerging recess segments and region-wise market
An empirical evaluation of the curve of this market
Ancient, Present, and Probable scope of the market from both prospect value and volume
In Vitro Diagnostics (IVD) Market Dynamics
Increasing awareness of medicine
Rising awareness of customised medicine and expanding use of point-of-care testing are two other main reasons propelling the in vitro diagnostics/IVD market, among others. Fully automated devices and laboratory automation are also important aspects accelerating market expansion.
The rise in the importance of companion diagnostics
In addition, the market for in vitro diagnostics and IVDs will see increased growth possibilities in emerging nations, a rise in the importance of companion diagnostics, and a rise in condition-specific markers and tests over the anticipated period of 2022–2029.
A rise in the Infectious disease
The rise in the prevalence of chronic and infectious diseases is a primary factor driving the IVD market's expansion. Chronic diseases like diabetes, cancer, cardiovascular disease, and tuberculosis are becoming more common in the contemporary business environment. Additionally, there has been a marked increase in the number of individuals with infectious disorders such STDs, respiratory illnesses, and gastrointestinal conditions (sexually transmitted diseases). The market for IVDs is driven by the demand for diagnostic tools, which is anticipated to rise as these diseases become more prevalent.
Restraints/Challenges
In vitro diagnostics/IVD market growth in the forecast period will be further hampered by changing regulatory environments and rising operational barriers associated with performing diagnostic tests. However, increasing unfavourable reimbursement scenarios and constant government regulation updates are the main factors among others that will restrain the market growth.
The in vitro diagnostics (IVD) market is analysed and market size insights and trends are provided by country, technique, application, end-user and product and service as referenced above.
The countries covered in the in vitro diagnostics (IVD) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the in vitro diagnostics (IVD) market due to rising favourable government regulations, well-established diagnostic infrastructure.
Asia-Pacific is the expected region in terms of growth in vitro diagnostics (IVD) market due to rising presence of a large number of target populations along with improving healthcare infrastructure in this region.
Immuno In-Vitro Diagnostics (IVD) Market, ByProduct Type (Reagents, Instruments, Data Management Software, Services), Immunodiagnostics Technique (Enzyme-Linked Immunosorbent Assay, Rapid Tests, Enzyme-Linked ImmunoSpot Assays, Radioimmunoassay, Western Blotting), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Drug Testing/Pharmacogenomics, HIV/AIDS, Autoimmune Diseases, Nephrology, Others), End User (Hospital Laboratories, Clinical Laboratories, Point Of Care Testing, Patient Self-Testing, Academic Institutes, Others),Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-immuno-ivd-market
IVD Regulatory Affairs Outsourcing Market, By Service (Regulatory Writing & Submissions, Regulatory Registration & Clinical Trial Applications, Regulatory Consulting, Legal Representation, Data Management Services, Chemistry Manufacturing and Controls (CMC) Services, and Others), Indication (Oncology, Neurology, Cardiology, Clinical Chemistry and Immunoassays, Precision Medicine, Infectious Diseases, Diabetes, Genetic Testing, HIV/AIDS, Haematology, Drug Testing/Pharmacogenomics, Blood Transfusion, Point of Care, and Others), Deployment Mode (Cloud and On-Premises), Organization Size (Small and Medium Enterprises (SMES) and Large Enterprises), Stage (Clinical, Preclinical, and PMA (Post-Market Authorization)), Class (Class I, Class II, and Class III), End User (Pharmaceutical Companies, Medical Device Companies, Biotechnology Companies, and Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific, Saudi Arabia, South Africa, U.A.E., Egypt, Israel and Rest of Middle East and Africa, Brazil, Argentina, & Rest of South America) https://www.databridgemarketresearch.com/reports/global-ivd-regulatory-affairs-outsourcing-market
North America IVD Regulatory Affairs Outsourcing Market, By Service (Regulatory Writing & Submissions, Regulatory Registration & Clinical Trial Applications, Regulatory Consulting, Legal Representation, Data Management Services, Chemistry Manufacturing and Controls (CMC) Services, and Others), Indication (Oncology, Neurology, Cardiology, Clinical Chemistry and Immunoassays, Precision Medicine, Infectious Diseases, Diabetes, Genetic Testing, HIV/AIDS, Haematology, Drug Testing/Pharmacogenomics, Blood Transfusion, Point of Care, and Others), Deployment Mode (Cloud and On-Premises), Organization Size (Small and Medium Enterprises (SMES) and Large Enterprises), Stage (Clinical, Preclinical, and PMA (Post-Market Authorization)), Class (Class I, Class II, and Class III), End User (Pharmaceutical Companies, Medical Device Companies, Biotechnology Companies, and Others), Country (U.S., Canada, Mexico) https://www.databridgemarketresearch.com/reports/north-america-ivd-regulatory-affairs-outsourcing-market
Europe IVD Regulatory Affairs Outsourcing Market, By Service (Regulatory Writing & Submissions, Regulatory Registration & Clinical Trial Applications, Regulatory Consulting, Legal Representation, Data Management Services, Chemistry Manufacturing and Controls (CMC) Services, and Others), Indication (Oncology, Neurology, Cardiology, Clinical Chemistry and Immunoassays, Precision Medicine, Infectious Diseases, Diabetes, Genetic Testing, HIV/AIDS, Haematology, Drug Testing/Pharmacogenomics, Blood Transfusion, Point of Care, and Others), Deployment Mode (Cloud and On-Premises), Organization Size (Small and Medium Enterprises (SMES) and Large Enterprises), Stage (Clinical, Preclinical, and PMA (Post-Market Authorization)), Class (Class I, Class II, and Class III), End User (Pharmaceutical Companies, Medical Device Companies, Biotechnology Companies, and Others), Country (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium & Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-ivd-regulatory-affairs-outsourcing-market
Allergy Diagnostics Market, By Service (Assay Kits, Instruments, Services, Consumables), Tests (In-vivo Tests, In-vitro Tests), Allergen (Inhaled Allergens, Food Allergens, Drug Allergens, Other Allergens), End-User (Diagnostic Laboratories, Hospital-Based Laboratories, Academic Research Institutes, Other End Users)-Industry Trends and Forecast to 2029. https://www.databridgemarketresearch.com/reports/global-allergy-diagnostics-market
Molecular Diagnostics Market, By Products (Reagents and Kits, Instruments, Services and Software), Technology (Mass Spectrometry (MS), Capillary Electrophoresis, Next Generation Sequencing (NGS), Chips And Microarray, Polymerase Chain Reaction (PCR)-Based Methods, Cytogenetics, In Situ Hybridization (ISH or FISH), Molecular Imaging, Others), Application (Oncology, Pharmacogenomics, Microbiology, Prenatal Tests, Tissue Typing, Blood Screening, Cardiovascular Diseases, Neurological Diseases, Infectious Diseases, Others), End User (Hospital, Clinical Laboratories, Academics) – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-molecular-diagnostics-market
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