In Vitro Diagnostics Market Size By Application, Growth Potential, Price Trend & Forecast 2020-2023

"The in vitro diagnostics market is projected to grow at a CAGR of 5.2%."

The in vitro diagnostics market is projected to reach USD 87.93 billion by 2023 from USD 68.12 billion in 2018, at a CAGR of 5.2%. Growth in this market is primarily driven by the increasing burden of chronic diseases (majorly due to the rising geriatric population), rising prevalence of infectious diseases, rising demand for early disease diagnosis using specialized tests, growing awareness of personalized medicine, and increasing adoption of fully-automated instruments and automation in laboratories. Moreover, the development of condition-specific markers and tests, growing significance of companion diagnostics, and emerging economies are expected to offer significant growth opportunities for market players during the forecast period. However, the unfavorable reimbursement scenario, changing regulatory landscape, and operational barriers faced in conducting diagnostic tests are all expected to challenge market growth to a certain extent in the coming years.

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"The reagents & kits segment is expected to dominate the market during the forecast period."

In 2018, on the basis of product & service, the reagents & kits segment is expected to account for the largest share of the market. The large share of this segment is primarily attributed to the increased accessibility and demand for reagents and the rising number of IVD tests conducted.

"The oncology segment is projected to be the fastest growing during the forecast period."

In 2018, on the basis of application, the oncology segment is expected to register the highest growth rate during the forecast period, owing to the increasing prevalence of cancer and the introduction of a number of diagnostic tests such as Oncomine Dx Target Test and Oncomine Solid Tumor kits (Thermo Fisher Scientific) for NSCLC and PTEN/ERG FISH and UroVysion FISH tests for the detection of bladder cancer and treatment assessment of prostate cancer.

"AsiaPacific is expected to register the highest growth rate during the forecast period."

In this report, the IVD market is divided into five major regions--North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America is expected to account for the largest share of the market followed by Europe. However, AsiaPacific is expected to register the highest CAGR during the forecast period owing to the huge demand for better healthcare services; increasing incidence of chronic and infectious diseases; rapid development in the healthcare infrastructure of developing countries such as India, China, and South Korea; growing healthcare research investments in this region; and increasing per capita income of the middle-class population in the region.

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List of companies profiled in the report

Roche Diagnostics (Switzerland)
Siemens Healthineers (Germany)
Danaher Corporation (US)
Abbott Laboratories (US)
Thermo Fisher Scientific (US)
Johnson & Johnson (US)
Becton, Dickinson and Company (US)
Bio-Rad Laboratories (US)
Sysmex Corporation (Japan)
bioM�rieux (France)
DiaSorin (Italy)
Ortho Clinical Diagnostics (US)
QIAGEN (Germany)
Agilent Technologies (US)

Research Coverage

This report studies the in vitro diagnostics market based on product & service, technology, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies. Furthermore, the report analyzes micro markets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.

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List of Tables (283 Tables)

Table 1 Global IVD Market Snapshot
Table 2 Number of People With Diabetes, By Region, 2015 vs 2040 (Million Individuals)
Table 3 Fully Automated Systems Launched By Key Players
Table 4 New Tests Launched By Key Players
Table 5 US: Classification of In Vitro Diagnostic Devices
Table 6 US: Time, Cost, and Complexity of Registration Process
Table 7 Canada: Time, Cost, and Complexity of Registration Process
Table 8 Europe: Classification of IVD Devices
Table 9 Europe: Time, Cost, and Complexity of Registration Process
Table 10 Japan: Classification of IVD Reagents
Table 11 Japan: Time, Cost, and Complexity of Registration Process
Table 12 China: Time, Cost, and Complexity of Registration Process
Table 13 India: Time, Cost, and Complexity of Registration Process
Table 14 Indonesia: Registration Process for IVD Devices

List of Figures (63 Figures)

Figure 1 In Vitro Diagnostics Market Segmentation
Figure 2 Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 IVD Market, By Product & Service, 2018 vs 2023 (USD Billion)
Figure 7 IVD Market, By Application, 2018 vs 2023 (USD Billion)
Figure 8 IVD Market, By Technology, 2018 vs 2023 (USD Billion)
Figure 9 Immunochemistry/ Immunoassay Market, By Type, 2018 vs 2023 (USD Billion)
Figure 10 Clinical Chemistry Market, By Type, 2018 vs 2023 (USD Billion)
Figure 11 Molecular Diagnostics Market, By Type, 2018 vs 2023 (USD Billion)
Figure 12 IVD Market, By End User, 2018 vs 2023 (USD Billion)
Figure 13 Geographic Snapshot of the In Vitro Diagnostics Market
Figure 14 Rising Incidence of Chronic Lifestyle Diseases is Driving the Growth of the IVD Market
Figure 15 Reagents & Kits Commanded the Largest Share in 2017
Figure 16 The US Accounted for the Largest Share of the IVD Market in 2017

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