Meticulous Research® Projects the Global In Vitro Diagnostics (IVD) Market to Reach $116.28 Billion by 2031

New Report Highlights Market Growth Driven by Chronic Disease Prevalence, Technological Advancements, and Rising Demand for Point-of-Care Diagnostics

Meticulous Research®, a prominent global market intelligence and advisory firm, has released its latest report titled, 'In Vitro Diagnostics (IVD) Market Size, Share, Forecast, & Trends Analysis By Offering (Kits), Technology (Immunoassay, Molecular Diagnostics [PCR, NGS], Rapid Test), Application (Infectious Diseases, Oncology), Diagnostic Approach (Lab, POC)-Global Forecast to 2031.' According to this comprehensive study, the global in vitro diagnostics market is poised to achieve a compound annual growth rate (CAGR) of 5.3% from 2024, ultimately reaching a valuation of $116.28 billion by 2031.

Download Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=4858

Market Dynamics and Growth Drivers
The rapid expansion of the global in vitro diagnostics market is primarily driven by several key factors:

Increasing Prevalence of Chronic Diseases: The rising incidence of chronic conditions, coupled with a growing geriatric population, is significantly boosting the demand for diagnostic solutions.

Rising Incidence of Infectious Diseases: The global surge in both acute and chronic infectious diseases, including pandemics, is accelerating the need for advanced diagnostic tools.

Request Sample Report Here : https://www.meticulousresearch.com/request-sample-report/cp_id=4858

Growing Emphasis on Early Disease Detection: Enhanced awareness and education regarding early diagnosis are contributing to higher demand for IVD products.
Technological Advancements: Continuous innovations in genomics, proteomics, and point-of-care (POC) diagnostics are opening new avenues for market growth.
Increased Healthcare Expenditure: The rise in global healthcare spending is further propelling the adoption of advanced diagnostic technologies.

Emerging economies, growing interest in personalized medicine, and advancements in genomics and proteomics present significant opportunities for market players. However, the industry faces challenges such as stringent regulatory requirements for high-complexity tests and inconsistencies in rapid IVD test results. Additionally, the evolving regulatory landscape poses further obstacles to market expansion.

Key Market Segments
The report provides an in-depth analysis of the global in vitro diagnostics market, segmented by offering, technology, application, diagnostic approach, end user, and geography.

Offering: The reagents & kits segment is projected to dominate the market, accounting for 81.1% of the total market share in 2024. This dominance is attributed to the frequent use of these products for disease detection and the widespread availability of reagents and consumables.

Quick Buy: https://www.meticulousresearch.com/Checkout/87380450

Technology: The molecular diagnostics segment is expected to capture the largest share (23.1%) of the market in 2024, driven by the rising prevalence of infectious diseases and the growing application of DNA, RNA, and protein analysis in diagnostics.

Application: The infectious diseases segment is anticipated to hold the largest market share (37.8%) in 2024, fueled by the global rise in infectious diseases and government initiatives promoting testing and awareness.

Diagnostic Approach: The lab testing segment is expected to dominate the market due to the availability of skilled professionals and a wide range of diagnostic tests in laboratory settings.

End User: The diagnostics laboratories segment is projected to lead the market, driven by increasing automation, the prevalence of infectious diseases, and government efforts to enhance healthcare infrastructure.

To gain more insights into the market with a detailed table of content and figures, click here : https://www.meticulousresearch.com/product/ivd-market-4858

Regional Market Insights
Geographically, North America is expected to lead the global in vitro diagnostics market, accounting for 37.5% of the total market share in 2024. This dominance is attributed to the region's high prevalence of chronic and infectious diseases, widespread adoption of advanced diagnostics, and substantial funding for research and development.

Key Players in the Global IVD Market
Leading companies driving innovation and growth in the global in vitro diagnostics market include:

Abbott Laboratories (U.S.)
Becton, Dickinson and Company (U.S.)
bioMérieux SA (France)
Bio-Rad Laboratories, Inc. (U.S.)
Danaher Corporation (U.S.)
F. Hoffmann-La Roche Ltd. (Switzerland)
Illumina, Inc. (U.S.)
QIAGEN N.V. (Netherlands)
Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
Siemens Healthineers AG (Germany)
Thermo Fisher Scientific Inc. (U.S.)
Wama Diagnostica (Brazil)
Wiener Laboratorios SAIC (Argentina)
QuidelOrtho Corporation (U.S.)
Agilent Technologies Inc. (U.S.)
DiaSorin S.p.A. (Italy)

Market Outlook and Future Prospects
The in vitro diagnostics market is expected to continue its upward trajectory, driven by ongoing advancements in diagnostic technologies, increasing healthcare investments, and the growing demand for early and accurate disease detection. The report offers detailed insights into market trends, competitive landscapes, and growth opportunities across various regions and segments.

Contact Information:
Meticulous Research®
Email: sales@meticulousresearch.com
Phone: +1-646-781-8004
Connect with us on LinkedIn

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

This release was published on openPR.