In Vitro Diagnostics Market Size, Trends, Segment, Companies, Growth and Report 2023-2028 | Abbott Laboratories, Agilent Technologies Inc., Biomerieux SA, Bio-Rad Laboratories Inc

IMARC Group has recently released a new research study titled "In Vitro Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

How big is the in vitro diagnostics market?

The global in vitro diagnostics market size reached US$ 104.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 150.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

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What is in vitro diagnostics?

In vitro diagnostics (IVD) is a vital segment of the healthcare industry that includes medical devices and technologies used to perform tests on samples, such as blood or tissue, obtained from a patient's body. These tests are conducted in controlled environments outside of a living organism, such as in a test tube. IVD encompasses a wide range of technologies, including traditional laboratory tests, point-of-care tests, molecular diagnostics, and immunological tests. These diagnostic tools play a crucial role in disease identification, staging, stratification, and decision-making for appropriate treatments. It can be used to detect a range of conditions, including infectious diseases, cancer, genetic disorders, and hormone imbalances. The necessity for precise diagnostics to guide therapeutic decisions and promote personalized medicine is majorly contributing to the growing significance of the IVD market globally.

What are the growth prospects and trends in the in vitro diagnostics industry?

The escalating prevalence of chronic and infectious diseases is driving the global market. Furthermore, the increasing global geriatric population susceptible to various ailments is catalyzing the demand. Apart from this, ongoing technological advancements in the IVD field, including next-generation sequencing, microfluidics, and machine learning algorithms for data interpretation, are enhancing the efficiency and accuracy of diagnoses, thus providing a boost to the market. Besides, the increase in the adoption of point-of-care testing for its convenience and rapid results is supporting the market.

Moreover, the rising emphasis on personalized medicine and predictive diagnostics is fueling the expansion of the molecular diagnostics segment within the IVD market. Furthermore, the governments are implementing initiatives aimed at improving healthcare infrastructure and increasing access to diagnostic testing, thus creating a positive market outlook.

Who are the key players in the IVD market?

The report covers the major market players including: 

• Abbott Laboratories
• Agilent Technologies Inc.
• Biomerieux SA
• Bio-Rad Laboratories Inc.
• Hoffmann-La Roche Ltd
• Fujifilm Holdings Corporation
• Illumina Inc.
• Qiagen N.V.
• Quest Diagnostics
• Shimadzu Corporation
• Siemens Healthcare GmbH
• Sysmex Corporation

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Test Type:

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

Breakup by Product:

• Reagents and Kits
• Instruments

Breakup by Usability:

• Disposable IVD Devices
• Reusable IVD Devices

Breakup by Application:

• Infectious Disease
• Diabetes
• Cancer/Oncology
• Cardiology
• Autoimmune Disease
• Nephrology
• Others

Breakup by End User:

• Hospitals Laboratories
• Clinical Laboratories
• Point-of-care Testing Centers
• Academic Institutes
• Patients
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Explore Full Report Description At: https://www.imarcgroup.com/in-vitro-diagnostics-market

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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