IVD Market, By Product (Reagents & Consumables, Instruments, And Software & Services), By Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, And Other IVD Techniques), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, And Others), By End User (Standalone Laboratory, Hospitals, Academic & Medical Schools, Point Of Care Testing, And Others)

IVD Market was valued at USD 70131.1 million in 2020 and is expected to be valued at USF 108911.3 million by 2030. The global IVD market is expected to grow at an approximate CAGR of 4.5% in the forecast period.The global IVD (In Vitro diagnostic devices) market is known for the medical devices and accessories used that are used to detect and perform the test for the infection and diseases by taking a sample of blood, urine, and tissues to cure diseases. It helps in detecting infections, monitoring them and preventing any other medical complications caused due to chronic and infectious diseases. These devices are mostly in use by clinical laboratories and hospitals to detect any diseases which are in their early stages. IVD is equipped with advanced technologies like clinical chemistry and immunodiagnostics that helps doctors to identify and provide a cure for the diseases.

Market Segmentation:

The global IVD market is segmented by product type into reagents & consumables, instruments, and software & services. By technique, the market is divided into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and other techniques. By application, the market is segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and other indications. By the end-user, the market is categorized into a standalone laboratory, hospitals, academic & medical schools, point of care testing, and others. By geography, the market is bifurcated into North America, Asia Pacific, Europe, and the RoW. 

Market Dynamics and Factors:

Due to the increase in the geriatric population, chronic and infectious diseases the IVD market is growing and is expected to grow at a faster rate. Also, the rise in technological advancement and the advancement of the health care sector will further boost the market. However, due to strict government policies and reimbursement policies are hampering the market. It is expected that investment in the advancement of IVD products, ongoing R & D activities, increase in point of care devices and liberal policies by the government will help in growing the market.

Geographic Analysis:

North America is the major revenue generator, which was USD 23.09 billion in 2018 and is estimated to emerge as a dominant region in the global IVD market. Owing to favorable government policies, well established diagnostic infrastructure, adoption of technology, NA is the prominent key market player in this industry. Asia-Pacific seems to be emerging opportunities for the key players operating in the in vitro diagnostics market due to the emerging economies and improvement in the healthcare infrastructure. Europe is also projected to show growth in the global IVD market, like Germany, the U.K., and Spain as the major countries to show a potential market in their region.

Competitive Scenario:

The key market players such as Abbott Laboratories; Becton, Dickinson and Company; bioMérieux SA; Bio-Rad Laboratories, Inc.; Danaher Corporation (Beckman Coulter, Inc.); F. Hoffmann-La Roche Ltd., Johnson & Johnson, QIAGEN N.V., Sysmex Corporation, Illumina, Inc., Luminex Corporation, and Siemens Healthcare GmbH, and Thermo Fisher Scientific, Inc.

IVD Market Report Scope