In Vitro Diagnostics Market

In Vitro Diagnostics Market by Products (Instruments, Reagents, and Services), Applications (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disease, Drug Testing, and Others), End-users (Hospitals, Laboratories, Homecare, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-2035
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 214
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The global in vitro diagnostics market size was valued at USD 83.4 billion in 2020 and is projected to expand at a CAGR of 4.6% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increase in testing due to the COVID-19 pandemic and the advancement of automated in vitro diagnostic systems for laboratories and hospitals. Moreover, increasing number of in vitro diagnostic products released by key players to provide reliable, precise, and error-free diagnosis present a key aspect for the lucrative growth of the market.


In Vitro Diagnostics Market

In vitro diagnostics are experiments performed on samples obtained from the human body, such as blood or tissue. The diagnostics can help diagnose, mitigate, or detect infections by examining illnesses or other disorders and monitoring a person's health. By identifying diseases or other disorders in a person's physical health, the in vitro diagnostics is able to help in the treatment or prevention of diseases. These diagnostics are widely used in precision medicine to classify patients who are going to benefit from such medications or therapies. For these medications, the diagnostics includes next-generation sequencing trials that scan a person's DNA for genomic variants.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising global prevalence of chronic diseases such as cancer, autoimmune diseases, and inflammatory conditions is expected to drive the demand for in vitro diagnostic research. This is projected to boost the market.
  • Millions of people are affected by the COVID-19 epidemic, which is caused by SARS-CoV-2. The pandemic outbreak has spurred the diagnostics industry. This is a key driver for the market growth.
  • Growing investment for creating new and rapid diagnostic tools kits for coronavirus identification and detection. This is anticipated to upsurge the market revenue.
  • Lack of global supply chain for diagnostic equipment due to high demand globally acts as a key challenge that can restrain the market expansion.
  • Increasing number of the ageing population worldwide and rising chance of them to be exposed to severe risk of diseases due to the weaken of their immune system is a major driving factor that can create lucrative opportunities for the market.

Scope of the Report

The report on the global in vitro diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

In Vitro Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Products (Instruments, Reagents, and Services), Applications (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disease, Drug Testing, and Others), and End-users (Hospitals, Laboratories, Homecare, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott, Danaher; bioMérieux SA; Bio-Rad Laboratories, Inc.; Becton; Dickinson and Company; Siemens Healthineers AG; QIAGEN; Quidel Corporation; F. Hoffmann-La Roche AG; Sysmex Corporation; Charles River Laboratories International, Inc.; Quest Diagnostics; and Agilent Technologies

Market Segment Insights

Reagents segment accounted for a key market share

Based on products, the global in vitro diagnostics market is divided into instruments, reagents, and services. The reagent segment held a key share of the market accounting for more than 60% of the total market volume in 2020. The growth of the segment can be attributed to wide demand for the product type as it helps to form a quick, reliable, and responsive devices for diagnostics. Furthermore, their wide usage in in-vitro diagnostic testing, increase in demand for self-testing and point-of-care products, and rise in the number of R&D initiatives pertaining to reagents are key factors expected to propel the segment growth.


In Vitro Diagnostics Market

Drug testing segment is anticipated to register a high CAGR

In terms of applications, the market is segregated into infectious disease, diabetes, oncology, cardiology, nephrology, autoimmune disease, drug testing, and others. The drug testing segment is anticipated to register a high CAGR during the forecast period owing to rising demand for drug testing for several diseases and wide adoption of diagnostic for diseases treatment.


In Vitro Diagnostics Market

Hospital segment held a dominant market share

On the basis of end-users, the global in vitro diagnostics market is segmented into hospitals, laboratories, homecare, and others. The hospital segment held a dominant market share, accounting for more than 40% of the total global sales in 2020 and is expected to continue the trend in the coming years. The segment growth can be due to rising preference for hospitalizations, as physicians need diagnostic interpretation in order to proceed with care. Diagnostic centers often collaborate with hospitals; as a result, hospitals usually have their own diagnostic setup. Furthermore, continuing wide availability of advanced healthcare facilities in hospitals is expected to boost the segment growth.

North America is expected to dominate the market

In terms of regions, the market is classified as North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America accounted for a large revenue share of around 41% in the market in 2020 and is expected to continue its dominance during the forecast period. The regional market growth is attributable to the presence of major market players in the region. In addition, rising prevalence of chronic illness and increased consumer awareness are propelling the need for improved diagnostic devices. Meanwhile, the market in Asia Pacific is projected to expand at a high pace, with a CAGR of 6% during the projected period owing to rising cases of infectious diseases and increasing number of companies manufacturing diagnostic equipment. The regional market growth is due to increasing healthcare awareness and patients seeking early diagnosis besides a high prevalence of chronic diseases.


In Vitro Diagnostics Market

Segments

Segments Covered in the Report

The global vitro diagnostics market has been segmented on the basis of

Products

  • Instruments
  • Reagents
  • Services

Applications

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

End-use

  • Hospitals
  • Laboratories
  • Homecare
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Abbott
  • Danaher
  • bioMérieux SA
  • Bio-Rad Laboratories Inc.
  • Becton
  • Dickinson and Company
  • Siemens Healthineers AG
  • QIAGEN
  • Quidel Corporation
  • F. Hoffmann-La Roche AG
  • Sysmex Corporation
  • Charles River Laboratories International, Inc.
  • Quest Diagnostics
  • Agilent Technologies

Competitive Landscape

Some of the key players in the market are Abbott, Danaher; bioMérieux SA; Bio-Rad Laboratories, Inc.; Becton; Dickinson and Company; Siemens Healthineers AG; QIAGEN; Quidel Corporation; F. Hoffmann-La Roche AG; Sysmex Corporation; Charles River Laboratories International, Inc.; Quest Diagnostics; and Agilent Technologies. As the global market is becoming highly competitive, players are competing fiercely to produce cost-effective and reliable diagnostic or testing devices. Acquisitions, alliances, and mergers are being adopted by businesses to expand their production capabilities, product portfolios, and provide strategic differentiation. Furthermore, these players are concentrating their efforts on obtaining regulatory licenses for novel drugs that can diagnose various infectious diseases. Since it is impossible to match the high capital needs, the presence of leading competitors in this market greatly reduces the opportunities for new entrants into the market.

In Vitro Diagnostics Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. In Vitro Diagnostics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. In Vitro Diagnostics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. In Vitro Diagnostics Market - Supply Chain
  4.5. Global In Vitro Diagnostics Market Forecast
     4.5.1. In Vitro Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. In Vitro Diagnostics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. In Vitro Diagnostics Market Absolute $ Opportunity
5. Global In Vitro Diagnostics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. In Vitro Diagnostics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global In Vitro Diagnostics Demand Share Forecast, 2019-2026
6. North America In Vitro Diagnostics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America In Vitro Diagnostics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America In Vitro Diagnostics Demand Share Forecast, 2019-2026
7. Latin America In Vitro Diagnostics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America In Vitro Diagnostics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America In Vitro Diagnostics Demand Share Forecast, 2019-2026
8. Europe In Vitro Diagnostics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe In Vitro Diagnostics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe In Vitro Diagnostics Demand Share Forecast, 2019-2026
9. Asia Pacific In Vitro Diagnostics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific In Vitro Diagnostics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific In Vitro Diagnostics Demand Share Forecast, 2019-2026
10. Middle East & Africa In Vitro Diagnostics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa In Vitro Diagnostics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa In Vitro Diagnostics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global In Vitro Diagnostics Market: Market Share Analysis
  11.2. In Vitro Diagnostics Distributors and Customers
  11.3. In Vitro Diagnostics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott Danaher bioMérieux SA Bio-Rad Laboratories Inc. Becton Dickinson and Company  

Segments Covered in the Report

The global vitro diagnostics market has been segmented on the basis of

Products

  • Instruments
  • Reagents
  • Services

Applications

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

End-use

  • Hospitals
  • Laboratories
  • Homecare
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Abbott
  • Danaher
  • bioMérieux SA
  • Bio-Rad Laboratories Inc.
  • Becton
  • Dickinson and Company
  • Siemens Healthineers AG
  • QIAGEN
  • Quidel Corporation
  • F. Hoffmann-La Roche AG
  • Sysmex Corporation
  • Charles River Laboratories International, Inc.
  • Quest Diagnostics
  • Agilent Technologies

Some of the key players in the market are Abbott, Danaher; bioMérieux SA; Bio-Rad Laboratories, Inc.; Becton; Dickinson and Company; Siemens Healthineers AG; QIAGEN; Quidel Corporation; F. Hoffmann-La Roche AG; Sysmex Corporation; Charles River Laboratories International, Inc.; Quest Diagnostics; and Agilent Technologies. As the global market is becoming highly competitive, players are competing fiercely to produce cost-effective and reliable diagnostic or testing devices. Acquisitions, alliances, and mergers are being adopted by businesses to expand their production capabilities, product portfolios, and provide strategic differentiation. Furthermore, these players are concentrating their efforts on obtaining regulatory licenses for novel drugs that can diagnose various infectious diseases. Since it is impossible to match the high capital needs, the presence of leading competitors in this market greatly reduces the opportunities for new entrants into the market.

In Vitro Diagnostics Market

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