In Vitro Diagnostics Market Size to Gain USD 85.23 Billion by 2027

The increase in the number of in vitro diagnostics tests, which is attributable to the rise in infectious and chronic illness events, is a major factor contributing to the in vitro diagnostics market’s growth. Moreover, the rise in geriatric population, which is more susceptible to immunological problems, is a crucial driver driving the market growth. Furthermore, the in vitro diagnostics market is expected to develop due to technological developments in in vitro diagnostics products and services. However, the market for in vitro diagnostics is expected to be constrained by severe government regulations and adverse reimbursement policies.

Furthermore, the in vitro diagnostics market is rising as a result of the in vitro diagnostics market’s utilization of modern technology. The incorporation of modern technologies in the in vitro diagnostics platform, such as next generation sequencing (NGS) and molecular diagnostics is the driving factor for the market growth. In addition, the market is projected to be driven by launch of new products by key market players.

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North America In Vitro Diagnostics Market Share, By Application, 2020 (%)

Application Segments	2020 (%)
Diabetes	13.97	%
Cardiology	7.13	%
Nephrology	4.52	%
Infectious Disease	36.11	%
Oncology	12.85	%
Drug Testing	8.86	%
Autoimmune Diseases	6.65	%
Others	9.91	%%

Regional Snapshot

North America is the largest segment for in vitro diagnostics market in terms of region. Due to the well-established healthcare industry and increased frequency of chronic disorders in the region, the North America is likely to enhance its market share in the future. Because of increased healthcare expenditures and the quick implementation of point of care testing, the U.S. controls the majority of the in vitro diagnostics market in the North American region.

Asia-Pacific region is the fastest growing region in the in vitro diagnostics market due to an increase in healthcare expenditure and the incidence of diabetes in the region. The other factors such as the large patient population of other chronic disorders that necessitate in vitro diagnostics testing, also contribute to the Asia-Pacific market’s growth.

In Asia Pacific region is expected to witness the fastest growth over the forecast period, with a CAGR of 6.2%, driven by increasing healthcare awareness and rising patients going for early diagnosis in the region along with high chronic disease prevalence.

Market Dynamics

Drivers

Rising prevalence of chronic and infectious disorders

Infectious infections are becoming more common every year. As the number of cases of infectious disorders rises, the demand for in vitro diagnostics devices, tests, and consumables rises as well.

The mini diagnostic systems have also grown in popularity, as this nano diagnostic devices offer more speedy and accurate medical diagnosis. Furthermore, these are disposable, portable, low cost, and simple to use technologies that will help the in vitro diagnostics market to grow during the forecast period.

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Restraints

High cost of in vitro diagnostics devices

In vitro diagnostics products have advanced significantly in the last decade, with new products being adopted and new design modifications, among other things. However, the high cost of in vitro diagnostics devices, as well as the high cost of equipment maintenance, limits the market expansion.

Furthermore, the functioning of in vitro diagnostics devices necessitates the use of trained personnel. As a result, the device’s maintenance costs rise, restricting the market’s overall expansion.

Opportunities

Rising geriatric population

According to the United Nations, the global population of people aged 60 and more is predicted to grow to 2.1 billion to 2050. The growing geriatric population in both developed and developing regions would have a positive outlook on the in vitro diagnostics market.

The chronic disorders and infections are mostly observed in the elderly population.As a result, the rising geriatric population is creating lucrative opportunities for the growth of the in vitro diagnostics market during the forecast period.

Challenges

Unfavorable reimbursement scenario

The inadequate reimbursement is a key barrier to the in vitro diagnostics market’s expansion. Recently, Medicare in the U.S. changed the way it paid for various in vitro diagnostics testing, including molecular diagnostics. Thus, the unfavorable reimbursement is a huge challenge for the growth of in vitro diagnostics market.

Scope of the In Vitro Diagnostics Market Report

Report Coverage	Details
Market Size	USD 85.23 Billion by 2027
Growth Rate	CAGR of 5% from 2020-2027
Base Year	2020
Historic Data	2017 to 2020
Forecast Period	2020 to 2027
Segments Covered	Product, Technology, Application
Regional Scope	North America, APAC, Europe, Latin America, MEAN, Rest of the World

Report Highlights

• Based on the product type, the reagents and consumables segment is expected to have a significant revenue share due to the increased use of self-testing kits and other advanced products in in vitro diagnostics. One of the primary factors driving the demand for reagents and consumables is the rising number of research and development efforts for detecting many chronic diseases.
• Based on the technique, the molecular diagnostics segment is expected to have a significant revenue share due to rising demand for molecular diagnosis in infectious disorders. In addition, the availability of sophisticated techniques such as multiplex real time PCR has boosted demand for molecular diagnostics.
• By End-use, the hospital segment surpassed revenue share of 44% in 2020, owing to an increase in hospitalization as doctors require diagnostic interpretation for further treatment. The home care segment is anticipated to reach at a CAGR of 6.5%, due to the rising geriatric population and increasing demand for home care in vitro diagnostic devices.

The key players profiled in the global In Vitro Diagnostics (IVD) market are

• Alere, Inc.
• Hoffmann-La Roche Ltd.
• Arkray
• Beckman Coulter
• Becton Disckinson
• Bio-Rad laboratories
• Danaher
• Sysmex Corporation
• Abbott Laboratories

Market Segmentation

By Product

• Reagents
• Instruments
• Services

By Technology

• Immunoassay
  • Instruments
  • Reagents
  • Services
• Hematology
  • Instruments
  • Reagents
  • Services
• Clinical Chemistry
  • Instruments
  • Reagents
  • Services
• Molecular Diagnostics
  • Instruments
  • Reagents
  • Services
• Coagulation
  • Instruments
  • Reagents
  • Services
• Microbiology
  • Instruments
  • Reagents
  • Services
• Others
  • Instruments
  • Reagents
  • Services

By Application

• Diabetes
• Cardiology
• Nephrology
• Infectious Disease
• Oncology
• Drug Testing
• Autoimmune Diseases
• Others

By End User

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

Regional Segmentation

• North America (U.S. and Canada)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. In Vitro Diagnostics (IVD) Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on In Vitro Diagnostics (IVD) Market

5.1. Covid-19: In Vitro Diagnostics (IVD) Industry Impact
5.2. In Vitro Diagnostics (IVD) Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and In Vitro Diagnostics (IVD) Opportunities in the COVID-19 Landscape
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for In Vitro Diagnostics (IVD) Manufacturers to deal with Covid-19 Pandemic Scenario

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition

Chapter 7. Global In Vitro Diagnostics (IVD) Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. In Vitro Diagnostics (IVD) Market Revenue by Manufacturer (2015-2020)
7.1.1.2. In Vitro Diagnostics (IVD) Market Revenue Market Share by Manufacturer (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers

Chapter 8. Global In Vitro Diagnostics (IVD) Market, By Product Type

8.1. In Vitro Diagnostics (IVD) Market, by Product Type, 2016-2027
8.1.1. Reagents
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Instruments
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Services
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global In Vitro Diagnostics (IVD) Market, By Technology

9.1. In Vitro Diagnostics (IVD) Market, By Technology, 2016-2027
9.1.1. Hematology
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Molecular Diagnostics
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Immunology
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Coagulation
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Clinical Chemistry
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.6. Microbiology
9.1.6.1. Market Revenue and Forecast (2016-2027)
9.1.7. Other
9.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global In Vitro Diagnostics (IVD) Market, By Application

10.1. In Vitro Diagnostics (IVD) Market, By Application, 2016-2027
10.1.1. Diabetes
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Cardiology
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Nephrology
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Infectious Disease
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Oncology
10.1.5.1. Market Revenue and Forecast (2016-2027)
10.1.6. Drug Testing
10.1.6.1. Market Revenue and Forecast (2016-2027)
10.1.7. Autoimmune Diseases
10.1.7.1. Market Revenue and Forecast (2016-2027)
10.1.8. Others
10.1.8.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global In Vitro Diagnostics (IVD) Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue Forecast by Product (2016-2027)
11.1.2. Market Revenue Forecast By Technology (2016-2027)
11.1.3. Market Revenue Forecast By Application (2016-2027)
11.1.4. Market Revenue Forecast by Technology (2016-2027)
11.1.5. U.S
11.1.5.1. Market Revenue Forecast (2016-2027)
11.1.5.2. Market Revenue Forecast (2016-2027)
11.1.6. Canada
11.1.6.1. Market Revenue Forecast (2016-2027)
11.1.6.2. Market Revenue Forecast (2016-2027)
11.2. Europe
11.2.1. Market Revenue Forecast by Product (2016-2027)
11.2.2. Market Revenue Forecast By Technology (2016-2027)
11.2.3. Market Revenue Forecast By Application (2016-2027)
11.2.4. Market Revenue Forecast by Technology (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue Forecast (2016-2027)
11.2.5.2. Market Revenue Forecast (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue Forecast (2016-2027)
11.2.6.2. Market Revenue Forecast (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue Forecast (2016-2027)
11.2.7.2. Market Revenue Forecast (2016-2027)
11.2.8. Rest of EU
11.2.8.1. Market Revenue Forecast (2016-2027)
11.2.8.2. Market Revenue Forecast (2016-2027)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Product (2016-2027)
11.3.2. Market Revenue Forecast By Technology (2016-2027)
11.3.3. Market Revenue Forecast By Application (2016-2027)
11.3.4. Market Revenue Forecast by Technology (2016-2027)
11.3.5. China
11.3.5.1. Market Revenue Forecast (2016-2027)
11.3.5.2. Market Revenue Forecast (2016-2027)
11.3.6. India
11.3.6.1. Market Revenue Forecast (2016-2027)
11.3.6.2. Market Revenue Forecast (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue Forecast (2016-2027)
11.3.7.2. Market Revenue Forecast (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue Forecast (2016-2027)
11.3.8.2. Market Revenue Forecast (2016-2027)
11.4. LATAM
11.4.1. Market Revenue Forecast by Product (2016-2027)
11.4.2. Market Revenue Forecast By Technology (2016-2027)
11.4.3. Market Revenue Forecast By Application (2016-2027)
11.4.4. Market Revenue Forecast by Technology (2016-2027)
11.4.5. Brazil
11.4.5.1. Market Revenue Forecast (2016-2027)
11.4.5.2. Market Revenue Forecast (2016-2027)
11.4.6. Rest of LATAM
11.4.6.1. Market Revenue Forecast (2016-2027)
11.4.6.2. Market Revenue Forecast (2016-2027)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Product (2016-2027)
11.5.2. Market Revenue Forecast By Technology (2016-2027)
11.5.3. Market Revenue Forecast By Application (2016-2027)
11.5.4. Market Revenue Forecast by Technology (2016-2027)
11.5.5. GCC
11.5.5.1. Market Revenue Forecast (2016-2027)
11.5.5.2. Market Revenue Forecast (2016-2027)
11.5.6. North Africa
11.5.6.1. Market Revenue Forecast (2016-2027)
11.5.6.2. Market Revenue Forecast (2016-2027)
11.5.7. South Africa
11.5.7.1. Market Revenue Forecast (2016-2027)
11.5.7.2. Market Revenue Forecast (2016-2027)
11.5.8. Rest of MEA
11.5.8.1. Market Revenue Forecast (2016-2027)
11.5.8.2. Market Revenue Forecast (2016-2027)

Chapter 12. Company Profiles

12.1. Alere, Inc.
12.1.1. Company Overview, Business Information, Manufacturing Area
12.1.2. Product Portfolio Analysis
12.1.2.1. Product Details, Specification, Application
12.1.3. Revenue and Gross Margin (2015-2020)
12.1.4. Recent Developments and Strategies
12.2. Hoffmann-La Roche Ltd.
12.2.1. Company Overview, Business Information, Manufacturing Area
12.2.2. Product Portfolio Analysis
12.2.2.1. Product Details, Specification, Application
12.2.3. Revenue and Gross Margin (2015-2020)
12.2.4. Recent Developments and Strategies
12.3. Arkray
12.3.1. Company Overview, Business Information, Manufacturing Area
12.3.2. Product Portfolio Analysis
12.3.2.1. Product Details, Specification, Application
12.3.3. Revenue and Gross Margin (2015-2020)
12.3.4. Recent Developments and Strategies
12.4. Beckman Coulter
12.4.1. Company Overview, Business Information, Manufacturing Area
12.4.2. Product Portfolio Analysis
12.4.2.1. Product Details, Specification, Application
12.4.3. Revenue and Gross Margin (2015-2020)
12.4.4. Recent Developments and Strategies
12.5. Becton Disckinson
12.5.1. Company Overview, Business Information, Manufacturing Area
12.5.2. Product Portfolio Analysis
12.5.2.1. Product Details, Specification, Application
12.5.3. Revenue and Gross Margin (2015-2020)
12.5.4. Recent Developments and Strategies
12.6. Bio-Rad laboratories
12.6.1. Company Overview, Business Information, Manufacturing Area
12.6.2. Product Portfolio Analysis
12.6.2.1. Product Details, Specification, Application
12.6.3. Revenue and Gross Margin (2015-2020)
12.6.4. Recent Developments and Strategies
12.7. bioMerieux S.A.
12.7.1. Company Overview, Business Information, Manufacturing Area
12.7.2. Product Portfolio Analysis
12.7.2.1. Product Details, Specification, Application
12.7.3. Revenue and Gross Margin (2015-2020)
12.7.4. Recent Developments and Strategies
12.8. Danaher
12.8.1. Company Overview, Business Information, Manufacturing Area
12.8.2. Product Portfolio Analysis
12.8.2.1. Product Details, Specification, Application
12.8.3. Revenue and Gross Margin (2015-2020)
12.8.4. Recent Developments and Strategies
12.9. Sysmex Corporation
12.9.1. Company Overview, Business Information, Manufacturing Area
12.9.2. Product Portfolio Analysis
12.9.2.1. Product Details, Specification, Application
12.9.3. Revenue and Gross Margin (2015-2020)
12.9.4. Recent Developments and Strategies
12.10. Abbott Laboratories
12.10.1. Company Overview, Business Information, Manufacturing Area
12.10.2. Product Portfolio Analysis
12.10.2.1. Product Details, Specification, Application
12.10.3. Revenue and Gross Margin (2015-2020)
12.10.4. Recent Developments and Strategies
12.11. Company 11
12.11.1. Company Overview, Business Information, Manufacturing Area
12.11.2. Product Portfolio Analysis
12.11.2.1. Product Details, Specification, Application
12.11.3. Revenue and Gross Margin (2015-2020)
12.11.4. Recent Developments and Strategies
12.12. Company 12
12.12.1. Company Overview, Business Information, Manufacturing Area
12.12.2. Product Portfolio Analysis
12.12.2.1. Product Details, Specification, Application
12.12.3. Revenue and Gross Margin (2015-2020)
12.12.4. Recent Developments and Strategies

Chapter 13. Research Methodology

13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions

Chapter 14. Appendix

14.1. About Us
14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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