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In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Size, Application, CAGR Analysis And Future Forecast To 2033
In Vitro Diagnostic (IVD) In Cardiology And Neurology Market
As per the report, the in vitro diagnostic (IVD) in cardiology and neurology market size has grown strongly in recent years. It will grow from $14.58 billion in 2023 to $15.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The in vitro diagnostic (IVD) in cardiology and neurology market size is expected to see strong growth in the next few years. It will grow to $22.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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Impact Of Personalized Medicine On The In Vitro Diagnostic (IVD) In Cardiology And Neurology Market
The expansion of personalized medicine is expected to fuel the growth of the in vitro diagnostic (IVD) in cardiology and neurology market going forward. Personalized medicine refers to a medical approach that tailors healthcare decisions, practices, interventions, and treatments to individual characteristics of each patient. Personalized medicine is expanding due to advancements in genomics, increased understanding of disease mechanisms, patient demand for tailored treatments, and regulatory support, among other factors. In vitro diagnostic (IVD) tests in cardiology and neurology facilitate personalized medicine by providing crucial information about an individual's genetic makeup and disease status, guiding tailored treatment plans for improved efficacy and reduced risks. For instance, according to the Personalized Medicine Coalition, a US-based professional membership organization, in 2022, the approval of 12 new personalized medicines represented approximately 34% of all newly approved therapies, indicating a substantial increase from previous years. Therefore, the increasing number of personalized medicines is driving the growth of the in vitro diagnostic (IVD) in cardiology and neurology market.
Advancing Diagnostics Through Innovations In AI-Enabled Early Disease Detection
Major companies operating in the in vitro diagnostic (IVD) in cardiology and neurology market are developing AI-enabled integrated epigenetic engines for early disease detection and risk assessment. AI-enabled integrated epigenetic engines leverage machine-learning models and advanced biomarker analysis techniques to enhance sensitivity and accuracy in diagnosing and monitoring cardiovascular diseases, addressing critical drivers of disease progression. For instance, in February 2023, Cardio Diagnostics Holdings Inc., a US-based biotechnology company, launched PrecisionCHD, an AI-based blood test, designed for the early detection of coronary heart disease (CHD). Utilizing the company's integrated epigenetic-genetic engine, this test evaluates CHD risk and aims to prevent and detect the most common form of cardiovascular disease. The new test combines epigenetic and genetic biomarkers with machine-learning algorithms, offering over 75% sensitivity for both men and women. It links a patient's biomarker profile to modifiable risk factors, major contributors to CHD, like smoking, diabetes, hypertension, and high cholesterol. PrecisionCHD represents a non-invasive alternative to exercise stress tests or angiograms, with blood samples drawn in-office or at home.
The in vitro diagnostic (IVD) in cardiology and neurology market covered in this report is segmented -
1) By Product Type: Instruments, Reagents And Consumables, Software And Services
2) By Technology: Immunoassays, Molecular Diagnostics, Hematology, Other Technologies
3) By End-User: Hospitals, Clinical Laboratories, Other End-Users
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Major companies operating in the in vitro diagnostic (IVD) in cardiology and neurology market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson And Company, Quest Diagnostics Incorporated, Hologic Inc., Illumina Inc., Beckman Coulter Inc., Quidel Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Instrumentation Laboratory, bioMérieux SA, Natera, Inc., Randox Laboratories Ltd., Fulgent Genetics Inc., DiaSorin S.p.A., Oxford Nanopore Technologies, Fujirebio Diagnostics Inc., Adaptive Biotechnologies, Biocartis Group NV, Agena Bioscience
Contents of the report:
1. Executive Summary
2. In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Report Structure
3. In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Trends And Strategies
4. In Vitro Diagnostic (IVD) In Cardiology And Neurology Market - Macro Economic Scenario
5. In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Size And Growth
…..
27. In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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