In Vitro diagnostics (IVD) market was valued at $71,496.16 million in 2020 and is projected to reach $106,914.16 million by 2030 registering a CAGR of 4.08% from 2021 to 2030| Valuates Reports.

In vitro diagnostics (IVD)

In vitro diagnostics (IVD) are defined as reagents, instruments, software and services that are used to examine specimens such as blood, urine, stool, tissues, and other human body fluids, to detect diseases, conditions, and infections. The tests can be performed in stand-alone laboratory, hospital-based laboratory, and point-ofcare centers. Some significant technologies incorporated in in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology, and mass spectrometry, which are used for test sample preparation.

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Moreover, other techniques that are used to perform in vitro diagnosis involve clinical chemistry, tissue diagnostics, immunodiagnostics, hematology, and others. For instance, in clinical chemistry various tests are performed in laboratory such as liver panel test, lipid profile, thyroid function test, and others. Furthermore, a thyroid function test is performed by collecting blood from a patient, which is then tested to check the level of thyroid stimulating hormone (TSH) in blood.

Similarly, others such as polymerase chain reaction (PCR) are used to detect the presence of infectious diseases such as HIV, hepatitis, and others. In addition, constant innovations related to IVD products, service designs, and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines.

For instance, some products that are used to perform various in vitro diagnostic tests using various technologies involve real time PCR detection systems, immunoassay systems, and others. The major factor that contributes to the growth of the in vitro diagnostic market include surge in number of in vitro diagnostic tests, which is attributable to rise in incidences of chronic and infectious diseases. Furthermore, growth in geriatric population, which is prone to immunological disorders is another major factor that boosts the growth of the market. Moreover, rise in use of personalized medicines in treatment of various chronic diseases such as cancer also fuels the growth of the market.

In addition, increase in technological advancements associated with in vitro diagnostic products, technologies, and software & services boosts the market growth. However, stringent government regulations and unfavorable reimbursement policies are anticipated to restrict the growth of the in vitro diagnostics market. On the contrary, high growth rate exhibited by developing economies present lucrative opportunities for key players in the in vitro diagnostics market during the forecast period.
The report segments the market on the basis of product & service, technique, application, end user, and region. On the basis of product & service, the market is classified into reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELISA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI).

Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others. The clinical chemistry segment is also further divided basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, specialty chemicals, and others. On the basis of application, the market is classified into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others.
On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Key players profiled in the report include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc

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KEY BENEFITS FOR STAKEHOLDERS

• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global photomedicine market to identify the prevailing opportunities.
• This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.
• Region- & country-wise analysis is provided to understand the market trends and dynamics.

KEY MARKET SEGMENTS

By Product And Services

• Reagents
• Instruments
• Software And Services

By Technique

• Immunodiagnostics
• Hematology
• Molecular Diagnostics
• Tissue Diagnostics
• Clinical Chemistry
• Others

By Application

• Infectious Diseases
• Cancer
• Cardiac Diseases
• Immune System Disorders
• Nephrological Diseases
• Gastrointestinal Diseases
• Others

By End User

• Standalone Laboratories
• Hospitals
• Academic And Medical Schools
• Point Of Care
• Others

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

Key Market Players

• Abbott Laboratories
• Becton, Dickinson and Company
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Danaher Corporation (Beckman Coulter, Inc.)
• F. Hoffmann-La Roche AG
• Siemens AG
• QIAGEN N.V.
• Sysmex Corporation
• Thermo Fisher Scientific, Inc

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