Global in-vitro diagnostics market is estimated to be valued at USD 118.98 Bn in 2024 and is expected to exhibit a CAGR of 6.3% during the forecast period (2024-2031). Global in-vitro diagnostics market involves the testing of biological samples such as blood, urine, tissues, and others for detection of diseases. IVD technologies allow early detection of diseases which helps in timely clinical intervention and improved patient outcomes. The market growth is driven by rising geriatric population, increasing prevalence of chronic and infectious diseases, technological advancements leading to development of more accurate point-of-care and molecular diagnostic tests. However, stringent regulations for new product approvals and unfavorable healthcare reforms in some countries hinders the market growth.

Market Dynamics:

Global in-vitro diagnostics market growth is driven by rising geriatric population who are more prone to chronic diseases, increasing incidence of lifestyle diseases such as cancer and diabetes, and growing awareness regarding early disease detection. Technological advancements have led to the development of miniaturized and portable diagnostic platforms for point-of-care and home-based testing, which is another major growth driver. However, stringent regulatory guidelines for approval of new diagnostic products and reduced healthcare coverage in some regions pose threat to the market growth. Furthermore, reimbursement policies for advanced molecular diagnostic tests vary across countries which restrains the market growth. Growing healthcare expenditure in emerging nations offers lucrative opportunities.

Key Features of the Study:

• This report provides in-depth analysis of the global in-vitro diagnostics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global in-vitro diagnostics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study includes Siemens Healthineers, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux S.A., Becton Dickinson and Company, Danaher Corporation, Abbott Laboratories, F. Hoffmann-la Roche Ltd, QIAGEN N.V., Arkray Inc., Nittobo Medical Co. , Medical & Biological Laboratories Co.  Ltd., Miraca Holdings Inc., Mizuho Medy Co. Ltd., Thermo Fischer Scientific Inc, Diasorin, Agilent Technologies, Inc, and Grifols SA.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global in-vitro diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global in-vitro diagnostics market.

Market Segmentation

• Product Type:
  • Reagents & Kits
  • Instruments 
• Test Type:
  • Clinical Chemistry
  • Immunoassay
  • Hematology
  • Molecular Diagnostics
  • Microbiology
  • Coagulation & Hemostasis Urinalysis
  • Others  
• Application:
  • Infectious Diseases
  • Diabetes
  • Oncology
  • Cardiology
  • Nephrology
  • Autoimmune Disorders
  • Others
• End User:
  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Academic & Research Institutes
  • Others
• Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • Siemens Healthineers
  • Sysmex Corporation
  • Bio-Rad Laboratories
  • bioMérieux S.A.
  • Becton Dickinson and Company
  • Danaher Corporation
  • Abbott Laboratories
  • Hoffmann-la Roche Ltd
  • QIAGEN N.V.
  • Arkray Inc.
  • Nittobo Medical Co.
  • Medical & Biological Laboratories Co.
  • Miraca Holdings Inc.
  • Mizuho Medy Co. Ltd.
  • Thermo Fischer Scientific Inc
  • Diasorin
  • Agilent Technologies, Inc
  • Grifols SA