Dublin, Jan. 09, 2024 (GLOBE NEWSWIRE) — The “In Vitro Diagnostics Global Market Opportunities and Strategies to 2032” report has been added to ResearchAndMarkets.com’s offering.
The global in vitro diagnostics market reached a value of nearly $96.18 billion in 2022, having grown at a compound annual growth rate (CAGR) of 15.1% since 2017. The market is expected to grow from $96.18 billion in 2022 to $160.45 billion in 2027 at a rate of 10.8%. The market is then expected to grow at a CAGR of 8.8% from 2027 and reach $244.86 billion in 2032.
Growth in the historic period resulted from the increasing adoption of point-of-care testing devices, rise in the number of cancer cases, growing demand for personalized medicine and rising healthcare infrastructure. Factors that negatively affected growth in the historic period were high costs associated with these instruments and regulatory challenges.
Going forward, rapid growth in elderly population, rising prevalence of chronic diseases and growing government support will drive the growth. Factor that could hinder the growth of the in vitro diagnostics market in the future include insufficient public health insurance coverage.
The in vitro diagnostics market is segmented by type into point-of-care diagnostics devices and equipment, immunochemistry diagnostic devices and equipment, clinical chemistry diagnostics devices and equipment, molecular diagnostics devices and equipment, hemostasis diagnostic devices and equipment and other types. The point-of-care diagnostics devices and equipment market was the largest segment of the in vitro diagnostics market segmented by type, accounting for 30.0% or $28.89 billion of the total in 2022. Going forward, it is expected to be the fastest growing segment in the in vitro diagnostics market segmented by type, at a CAGR of 16.7% during 2022-2027.
The in vitro diagnostics market is segmented by end user into hospitals and clinics, diagn0stic laboratories and other end users. The diagn0stic laboratories market was the largest segment of the in vitro diagnostics market segmented by end user, accounting for 46.0% or $44.22 billion of the total in 2022. Going forward, the other end users segment is expected to be the fastest growing segment in the in vitro diagnostics market segmented by end user, at a CAGR of 12.7% during 2022-2027.
The in vitro diagnostics market is segmented by product into instruments/equipment, disposables and software. The disposables market was the largest segment of the in vitro diagnostics market segmented by product, accounting for 70.2% or $67.55 billion of the total in 2022. Going forward, it is expected to be the fastest growing segment in the in vitro diagnostics market segmented by product, at a CAGR of 11.3% during 2022-2027.
The in vitro diagnostics market is segmented by type of expenditure into public and private. The public market was the largest segment of the in vitro diagnostics market segmented by type of expenditure, accounting for 54.6% or $52.51 billion of the total in 2022. Going forward, it is expected to be the fastest growing segment in the in vitro diagnostics market segmented by type of expenditure, at a CAGR of 11.1% during 2022-2027.
The top opportunities in the in vitro diagnostics market segmented by type will arise in the point-of-care diagnostics devices and equipment segment, which will gain $33.61 billion of global annual sales by 2027. The top opportunities in the in vitro diagnostics market segmented by end user will arise in the diagnostic laboratories segment, which will gain $28.80 billion of global annual sales by 2027. The top opportunities in the in vitro diagnostics market segmented by product will arise in the disposables segment, which will gain $47.92 billion of global annual sales by 2027. The top opportunities in the in vitro diagnostics market segmented by type of expenditure will arise in the public segment, which will gain $36.30 billion of global annual sales by 2027. The in vitro diagnostics market size will gain the most in USA at $17.36 billion.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider in vitro diagnostics market; and compares it with other markets.
Markets Covered:
- By Type: Point-Of-Care Diagnostics Devices and Equipment; Immunochemistry Diagnostic Devices and Equipment; Clinical Chemistry Diagnostics Devices and Equipment; Molecular Diagnostics Devices and Equipment; Hemostasis Diagnostic Devices and Equipment; Other Types
- By End User: Hospitals and Clinics; Diagn0stic Laboratories; Other End Users
- By Product: Instruments/Equipment; Disposables; Software
- By Type Of Expenditure: Public; Private
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; in vitro diagnostics indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 437 |
| Forecast Period | 2021 – 2031 |
| Estimated Market Value (USD) in 2021 | $96.2 Billion |
| Forecasted Market Value (USD) by 2031 | $244.9 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Company Profiles
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd
- Danaher Corporation
- Siemens AG
- Becton, Dickinson and Company
- Illumina, Inc.
- Thermo Fischer Scientific Inc
- BioMerieux SA
- Hologic, Inc.
- Cardinal Health, Inc.
- Transasia Bio-Medicals Ltd
- J. Mitra & Co. Pvt. Ltd.
- Tulip Diagnostics
- Agappe Diagnostics Ltd
- Nihon Kohden Corporation
- Sysmex Corporation
- Daiichi Pure Chemicals Co., Ltd
- Mizuho Medy Co., Ltd
- Mindray Bio-Medical Electronics Co., Ltd.
- Wondfo Biotech Co., Ltd.
- Shanghai Kehua Bio-engineering Co., Ltd
- Snibe Diagnostic
- Sinothinker Technology Co., Ltd.
- Siemens Healthineers
- Werfen
- Svar Life Science
- Clinichem Ltd
- protean s.r.o
- Delrus
- Qiagen
- Arkray Inc
For more information about this report visit https://www.researchandmarkets.com/r/iynyy6
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- Global In Vitro Diagnostics Market
