In-Vitro Diagnostics Market Size Forecast To 2030

(MENAFN- Straits Research) In-vitro diagnostics, or IVD, are medical devices and reagents used to examine body fluids and tissues to diagnose diseases, conditions, and infections. In-vitro diagnostics use PCR, microarrays, sequencing, and mass spectrometry. These technologies make test samples. In vitro diagnosis also uses clinical chemistry, tissue diagnostics, immunodiagnostics, and hematology. In clinical chemistry, laboratory tests include liver panel tests, lipid profiles, and thyroid function tests. Thyroid function tests also draw blood. Blood is tested for thyroid-stimulating hormone (TSH). HIV, hepatitis, and others can be detected using polymerase chain reaction (PCR). Innovations in IVD products, service designs, and technology have encouraged doctors and researchers to abandon traditional diagnostic methods and personalized medicines. This change is due to personalized medicine. The rise in chronic and infectious diseases is the main factor driving the growth of the in-vitro diagnostics market. The growing population of older adults prone to immune system dysfunctions also contributes to market growth. Personalized medicine's use in treating persistent diseases like cancer also contributes to market growth. Expanding in vitro diagnostic products, technologies, software, and services contributes to market growth.
Market Dynamics
Rising Chronic and infectious Disease Sufferers and Technological Advancement Drives the Global Market
In the current economy, chronic diseases like TB, cancer, CVD, and diabetes have increased. Infectious diseases such as digestive, respiratory, and STDs have also increased (sexually transmitted diseases). Increased disease prevalence is expected to drive demand for diagnostic devices, which drives the vitro diagnostics market. Heart disease and diabetes increase the demand for in vitro diagnostics: genetics, lifestyle, and diet cause diabetes and obesity. Rapid urbanization and dietary changes are spreading these diseases rapidly. According to the American Diabetes Association, smoking, alcohol, refined carbohydrates (white rice), decreased physical activity, inadequate nutrition, and a westernized diet and lifestyle contribute to the diabetes epidemic. Chronic liver disease causes inflammation, cirrhosis, and hepatocellular carcinoma. The liver also produces coagulation proteins. Decompensated liver cirrhosis patients have impaired synthetic function or cannot synthesize proteins. This condition requires prompt medical attention and a professional diagnosis. Rising diabetes rates drive market growth.
In the past, only clinical laboratories used IVD technology. In the past, pregnancy tests were done in clinics. Urine samples can be placed on test sticks and used at home. These tests are precise, quick, and accessible. Glucometers can check blood glucose levels. A mouth swab with a diagnostic device can be used to perform an HIV test at home. Home HIV testing is also possible. In the past, blood samples were drawn and analyzed in clinical laboratories. Digital pathology is one recent advancement in conventional methods. Recent technological advances enabled these changes. Pathology lab diagnostics use cutting-edge digital instruments. Digital pathology requires glass slides. Digital pathology solutions turn glass slides into digital ones. Advancements in IVD's conventional technologies are driving market growth. These developments boost the global in-vitro diagnostics market.
Potential Outsourcing Creates Tremendous Opportunities
Because IVD tests are performed outside the patient's body, they are less complicated methods for testing a sample. IVD tests are currently performed in public hospitals; however, as hospitals increasingly contract out their pathology work to private laboratories, the role of private laboratories has grown. Outsourcing these tests to laboratories is a current trend in Germany, and it is expected to continue for some time. Private labs and international laboratory chains are introducing new regulations in emerging markets where they operate to expand their networks in various regions. Because many hospitals send their IVD testing to private laboratories, private laboratories have many opportunities in the gnostics market.
Regional Analysis
North America is the highest revenue contributor, growing with a CAGR of 3.5% during the forecast period. This is partly because of a large patient population and the early adoption of advanced IVD techniques for disease diagnosis. A large aging population in North America has led to steady growth in the in-vitro diagnostics market. Growth in infectious and chronic diseases is a significant factor in the region's In-vitro diagnostics market. As a result, rising cancer rates are expected to fuel the expansion of this industry in the region. In addition, the market's expansion is aided by significant efforts to raise awareness about the importance of early cancer detection.
Asia-Pacific is the second-largest contributor to the market and is estimated to reach around USD 36,799.92 million at a CAGR of 8.1% during the forecast period. An increasing number of elderly residents in the area is an important growth factor for the market. Chronic diseases like cancer are becoming more common among the elderly, which explains the rise in the number of people in their golden years-the market for in vitro diagnostics. In addition, rising healthcare costs and advances in cancer screening technology are expected to boost the market over the next few years.
Key Highlights

The global in-vitro diagnostics market was valued at USD 73,707.9 million in 2021. It is expected to reach USD 116,320.35 million by 2030, growing at a CAGR of 5.2% during the forecast period (2022–2030).
Based on the product, the global in-vitro diagnostics market has been categorized into reagents, instruments, and services & software reagents segment is the highest contributor to the market, growing at a CAGR of 4.3% during the forecast period.
Based on the technique, the global in-vitro diagnostics market has been categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, and clinical chemistry clinical chemistry segment is the highest contributor to the market, growing at a CAGR of 4.0% during the forecast period.
Based on the application, the global in-vitro diagnostics market has been categorized into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, and gastrointestinal diseases. The Infectious diseasessegment is the highest contributor to the market, growing at a CAGR of 6.7% during the forecast period.
Based on the End-usertype, the global in-vitro diagnostics market has been categorized into standalone laboratories, hospitals, academics & medical schools, and point-of-care. The standalone laboratories segment is the highest contributor to the market, growing at a CAGR of 4.3% during the forecast period.
North America is the highest revenue contributor, growing with a CAGR of 3.5% during the forecast period.

Competitive Analysis
Key players in the global in-vitro diagnostics market
are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.
Market News

May 2022- Abbott And Women As One Partner To Help More Underrepresented Physicians Lead Clinical Trials.


May 2022- Abbott Obtains Fda Clearance For First Test That Simultaneously Detects Four Common Sexually Transmitted Infections (STIs) As Cases Are On The Rise.

Global In-Vitro Diagnostics Market: Segmentation
By Product & service

Reagents
Instruments
Software and Services

By Technique

Immunodiagnostics
Hematology
Molecular Diagnostics
Tissue Diagnostics
Clinical Chemistry

By Application

Infectious Diseases
Cancer
Cardiac Diseases
Immune System Disorders
Nephrological Diseases
Gastrointestinal Diseases46

By End User

Standalone Laboratories
Hospitals
Academic & Medical Schools
Point-of-Care

By Regions

North America
Europe
Asia-Pacific
LAMEA

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