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IVD Market Size, Trends, Analysis, and Outlook By Product and Services (Reagents & Kits, Services, Instruments, Data Management Software), By Application (Infectious diseases, Diabetes, Drug Testing/ Pharmacogenomics, Autoimmune diseases, Oncology, Cardiology, HIV/AIDS, Nephrology, Others), By Technology (Immunoassay/ Immunochemistry, Clinical chemistry, Hematology, Molecular diagnostics, Microbiology, Coagulation and Hemostasis, Urinalysis, Others), By End-User (Hospital laboratories, Point-of-care testing centers, Academic institutes, Clinical laboratories, Patients, Others), by Region, Country, Segment, and Companies, 2024-2030

March 2024 | 190 pages | ID: I0B898D3743BEN
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The global IVD market size is poised to register 5.36% growth (CAGR) from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global IVD market By Product and Services (Reagents & Kits, Services, Instruments, Data Management Software), By Application (Infectious diseases, Diabetes, Drug Testing/ Pharmacogenomics, Autoimmune diseases, Oncology, Cardiology, HIV/AIDS, Nephrology, Others), By Technology (Immunoassay/ Immunochemistry, Clinical chemistry, Hematology, Molecular diagnostics, Microbiology, Coagulation and Hemostasis, Urinalysis, Others), By End-User (Hospital laboratories, Point-of-care testing centers, Academic institutes, Clinical laboratories, Patients, Others).

The future of in vitro diagnostics (IVD) is shaped by technological innovation, data integration, and personalized medicine approaches aimed at improving diagnostic accuracy, clinical decision-making, and patient outcomes across a wide range of medical conditions. Key trends include the development of multiplexed assays, point-of-care testing devices, and molecular diagnostic platforms that offer rapid and accurate detection of infectious diseases, cancer biomarkers, and genetic mutations, enabling early diagnosis, treatment optimization, and disease monitoring. Additionally, there is a growing emphasis on the integration of IVD systems with electronic health records, laboratory information management systems, and artificial intelligence algorithms for seamless data connectivity, result interpretation, and decision support, enhancing workflow efficiency and quality of care. Moreover, advancements in sample preparation techniques, microfluidics, and digital pathology are expanding the capabilities of IVD technologies, enabling precision medicine approaches tailored to individual patient characteristics and improving healthcare delivery in diverse clinical settings..

IVD Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The IVD market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of IVD survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the IVD industry.

Key market trends defining the global IVD demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

IVD Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The IVD industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support IVD companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the IVD industry

Leading IVD companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 IVD companies.

IVD Market Study- Strategic Analysis Review

The IVD market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-
  • Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
  • Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
  • Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
  • Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.
IVD Market Size Outlook- Historic and Forecast Revenue in Three Cases

The IVD industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

IVD Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America IVD Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various IVD market segments. Similarly, Strong end-user demand is encouraging Canadian IVD companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico IVD market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe IVD Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European IVD industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European IVD market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific IVD Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for IVD in Asia Pacific. In particular, China, India, and South East Asian IVD markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America IVD Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa IVD Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East IVD market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for IVD.

IVD Market Company Profiles

The global IVD market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are Abbott Laboratories, Accelerate Diagnostics Inc, Agilent Technologies Inc, Becton, Dickinson and Company, bioMйrieux SA, Bio-Rad Laboratories Inc, Caris Life Sciences Inc, Chembio Diagnostics Inc , Danaher Corp, Devyser, DiaSorin S.p.A, GENSPEED Biotech GmbH, Hologic Inc, Illumina Inc, Menarini Silicon Biosystems, Merck KGaA, PerkinElmer Inc, QIAGEN N.V., Quidel Corp, F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, SpeeDx Pty. Ltd, Surmodics Inc, Sysmex Corp, Thermo Fisher Scientific Inc.

Recent IVD Market Developments

The global IVD market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

IVD Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis
  • Pricing Analysis
  • Value Chain Analysis
  • SWOT Profile
  • Market Dynamics- Trends, Drivers, Challenges
  • Porter’s Five Forces Analysis
  • Macroeconomic Impact Analysis
  • Case Scenarios- Low, Base, High
Market Segmentation:

By Type

Stationary 3D and 4D Ultrasound Devices

Portable 3D and 4D Ultrasound Devices

By Display

Color Ultrasound

B/W Ultrasound

By Portability

Trolley or Cart-Based Ultrasound Systems

Compact/Handheld Ultrasound Systems

Point-of-Pare (PoC) Ultrasound Systems

By Application

Radiology or General Imaging

Obstetrics or Gynecology

Cardiology

Urology

Vascular

Orthopedic and Musculoskeletal

Pain Management

Others

By End-User

Hospitals

Surgical Centers and Diagnostic Centers

Maternity Centers

Ambulatory Care Centers

Research and Academia

Others

Geographical Segmentation:
  • North America (3 markets)
  • Europe (6 markets)
  • Asia Pacific (6 markets)
  • Latin America (3 markets)
  • Middle East Africa (5 markets)
Companies

Abbott Laboratories

Accelerate Diagnostics Inc

Agilent Technologies Inc

Becton, Dickinson and Company

bioMйrieux SA

Bio-Rad Laboratories Inc

Caris Life Sciences Inc

Chembio Diagnostics Inc

Danaher Corp

Devyser

DiaSorin S.p.A

GENSPEED Biotech GmbH

Hologic Inc

Illumina Inc

Menarini Silicon Biosystems

Merck KGaA

PerkinElmer Inc

QIAGEN N.V.

Quidel Corp

F. Hoffmann-La Roche Ltd

Siemens Healthineers AG

SpeeDx Pty. Ltd

Surmodics Inc

Sysmex Corp

Thermo Fisher Scientific Inc

Formats Available: Excel, PDF, and PPT
1. EXECUTIVE SUMMARY

1.1 IVD Market Overview and Key Findings, 2024
1.2 IVD Market Size and Growth Outlook, 2021- 2030
1.3 IVD Market Growth Opportunities to 2030
1.4 Key IVD Market Trends and Challenges
  1.4.1 IVD Market Drivers and Trends
  1.4.2 IVD Market Challenges
1.5 Competitive Landscape and Key Players
1.6 Competitive Analysis- Growth Strategies Adopted by Leading IVD Companies

2. IVD MARKET SIZE OUTLOOK TO 2030

2.1 IVD Market Size Outlook, USD Million, 2021- 2030
2.2 IVD Incremental Market Growth Outlook, %, 2021- 2030
2.3 Segment Snapshot, 2024

3. IVD MARKET- STRATEGIC ANALYSIS REVIEW

3.1 Porter's Five Forces Analysis
* Threat of New Entrants
* Threat of Substitutes
* Intensity of Competitive Rivalry
* Bargaining Power of Buyers
* Bargaining Power of Suppliers
3.2 Value Chain Analysis
3.3 SWOT Analysis

4. IVD MARKET SEGMENTATION ANALYSIS AND OUTLOOK

4.1 Market Segmentation and Scope
4.2 Market Breakdown by Type, Application, and Other Segments, 2021-2030
By Type
Stationary 3D and 4D Ultrasound Devices
Portable 3D and 4D Ultrasound Devices
By Display
Color Ultrasound
B/W Ultrasound
By Portability
Trolley or Cart-Based Ultrasound Systems
Compact/Handheld Ultrasound Systems
Point-of-Pare (PoC) Ultrasound Systems
By Application
Radiology or General Imaging
Obstetrics or Gynecology
Cardiology
Urology
Vascular
Orthopedic and Musculoskeletal
Pain Management
Others
By End-User
Hospitals
Surgical Centers and Diagnostic Centers
Maternity Centers
Ambulatory Care Centers
Research and Academia
Others
4.3 Growth Prospects and Niche Opportunities, 2023- 2030
4.4 Regional comparison of Market Growth, CAGR, 2023-2030

5. REGION-WISE MARKET OUTLOOK TO 2030

5.1 Key Findings for Asia Pacific IVD Market, 2025
5.2 Asia Pacific IVD Market Size Outlook by Type, 2021- 2030
5.3 Asia Pacific IVD Market Size Outlook by Application, 2021- 2030
5.4 Key Findings for Europe IVD Market, 2025
5.5 Europe IVD Market Size Outlook by Type, 2021- 2030
5.6 Europe IVD Market Size Outlook by Application, 2021- 2030
5.7 Key Findings for North America IVD Market, 2025
5.8 North America IVD Market Size Outlook by Type, 2021- 2030
5.9 North America IVD Market Size Outlook by Application, 2021- 2030
5.10 Key Findings for South America IVD Market, 2025
5.11 South America Pacific IVD Market Size Outlook by Type, 2021- 2030
5.12 South America IVD Market Size Outlook by Application, 2021- 2030
5.13 Key Findings for Middle East and Africa IVD Market, 2025
5.14 Middle East Africa IVD Market Size Outlook by Type, 2021- 2030
5.15 Middle East Africa IVD Market Size Outlook by Application, 2021- 2030

6. COUNTRY-WISE MARKET SIZE OUTLOOK TO 2030

6.1 US IVD Market Size Outlook and Revenue Growth Forecasts
6.2 US IVD Industry Drivers and Opportunities
6.3 Canada Market Size Outlook and Revenue Growth Forecasts
6.4 Canada IVD Industry Drivers and Opportunities
6.6 Mexico Market Size Outlook and Revenue Growth Forecasts
6.6 Mexico IVD Industry Drivers and Opportunities
6.7 Germany Market Size Outlook and Revenue Growth Forecasts
6.8 Germany IVD Industry Drivers and Opportunities
6.9 France Market Size Outlook and Revenue Growth Forecasts
6.10 France IVD Industry Drivers and Opportunities
6.11 UK Market Size Outlook and Revenue Growth Forecasts
6.12 UK IVD Industry Drivers and Opportunities
6.13 Spain Market Size Outlook and Revenue Growth Forecasts
6.14 Spain IVD Industry Drivers and Opportunities
6.16 Italy Market Size Outlook and Revenue Growth Forecasts
6.16 Italy IVD Industry Drivers and Opportunities
6.17 Rest of Europe Market Size Outlook and Revenue Growth Forecasts
6.18 Rest of Europe IVD Industry Drivers and Opportunities
6.19 China Market Size Outlook and Revenue Growth Forecasts
6.20 China IVD Industry Drivers and Opportunities
6.21 India Market Size Outlook and Revenue Growth Forecasts
6.22 India IVD Industry Drivers and Opportunities
6.23 Japan Market Size Outlook and Revenue Growth Forecasts
6.24 Japan IVD Industry Drivers and Opportunities
6.26 South Korea Market Size Outlook and Revenue Growth Forecasts
6.26 South Korea IVD Industry Drivers and Opportunities
6.27 Australia Market Size Outlook and Revenue Growth Forecasts
6.28 Australia IVD Industry Drivers and Opportunities
6.29 South East Asia Market Size Outlook and Revenue Growth Forecasts
6.30 South East Asia IVD Industry Drivers and Opportunities
6.31 Rest of Asia Pacific Market Size Outlook and Revenue Growth Forecasts
6.32 Rest of Asia Pacific IVD Industry Drivers and Opportunities
6.33 Brazil Market Size Outlook and Revenue Growth Forecasts
6.34 Brazil IVD Industry Drivers and Opportunities
6.36 Argentina Market Size Outlook and Revenue Growth Forecasts
6.36 Argentina IVD Industry Drivers and Opportunities
6.37 Rest of South America Market Size Outlook and Revenue Growth Forecasts
6.38 Rest of South America IVD Industry Drivers and Opportunities
6.39 Middle East Market Size Outlook and Revenue Growth Forecasts
6.40 Middle East IVD Industry Drivers and Opportunities
6.41 Africa Market Size Outlook and Revenue Growth Forecasts
6.42 Africa IVD Industry Drivers and Opportunities

7. IVD MARKET OUTLOOK ACROSS SCENARIOS

7.1 Low Growth Case
7.2 Reference Growth Case
7.3 High Growth Case

8. IVD COMPANY PROFILES

8.1 Profiles of Leading IVD Companies in the Market
8.2 Business Descriptions, SWOT Analysis, and Growth Strategies
8.3 Financial Performance and Key Metrics
Abbott Laboratories
Accelerate Diagnostics Inc
Agilent Technologies Inc
Becton, Dickinson and Company
bioMйrieux SA
Bio-Rad Laboratories Inc
Caris Life Sciences Inc
Chembio Diagnostics Inc
Danaher Corp
Devyser
DiaSorin S.p.A
GENSPEED Biotech GmbH
Hologic Inc
Illumina Inc
Menarini Silicon Biosystems
Merck KGaA
PerkinElmer Inc
QIAGEN N.V.
Quidel Corp
F. Hoffmann-La Roche Ltd
Siemens Healthineers AG
SpeeDx Pty. Ltd
Surmodics Inc
Sysmex Corp
Thermo Fisher Scientific Inc

9. APPENDIX

9.1 Scope of the Report
9.2 Research Methodology and Data Sources
9.3 Glossary of Terms
9.4 Market Definitions
9.5 Contact Information


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