Leading Element Driving Change in the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market in 2025: Rising Chronic Diseases Propel Growth In Bioinformatics For IVD Testing Market Driver

What Is the Estimated Market Size and Growth Rate for the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market?
The market size of bioinformatics in in-vitro diagnostics (IVD) testing has seen significant growth in recent times. It's projected to expand from $93.02 billion in 2024 to $99.69 billion in 2025, representing a compound annual growth rate (CAGR) of 7.2%. The accelerated growth during the historic period is the result of enhanced healthcare infrastructure, increase in biobank networks, an aging population, government support and funding, and the development of personalized medicine.

The bioinformatics sector related to in vitro diagnostics (IVD) testing is projected to witness significant expansion in the coming years, reaching a market value of $129.89 billion in 2029 and registering a compound annual growth rate (CAGR) of 6.8%. The predicted growth during this period could be attributed to the increased incidence of diseases, the incorporation of IT into healthcare, government support and investment, a move towards personalized medicine, heightened awareness amongst healthcare providers regarding the advantages of bioinformatics in diagnostic settings, and the reduction in genomic sequencing expenses. Several trends expected to makeup this forecast period comprise artificial intelligence (AI) and machine learning, next-generation sequencing, point-of-care (POC) testing, cloud computing and big data, as well as advancements in immunochemical techniques.

What Is Contributing to the Growth of the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market?
The escalating incidences of cancer are anticipated to fuel the expansion of the bioinformatics in IVD testing market in the coming years. Cancer is a collective term used to define diseases marked by unusual cell growth, which can infiltrate and transfer to different parts of the body. This upward trend in Cancer rates can be linked to various causes, including exposure, lifestyle, and environment. Bioinformatics in IVD testing revolutionizes cancer diagnoses by delivering accurate, individualized, and all-encompassing genetic insights that improve early detection, treatment choices, and patient results. For example, data from the National Association of Chronic Disease Directors (NACDD), a US government agency, suggests that about 40% of American adults had multiple chronic conditions (MCC) in 2022, with growing evidence suggesting that having a chronic condition increases the risk of additional ones developing, particularly with advancing age. Therefore, the rising prevalence of cancer is driving the growth of the bioinformatics in IVD testing market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16629&type=smp

Who Are the Dominant Companies Influencing Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market Trends?
Major companies operating in the bioinformatics in in-vitro diagnostics (IVD) testing market are Siemens Healthineers, International Business Machines Corporation, Medtronic Inc., Parker Hannifin Corp., Illumina Inc, PerkinElmer Inc., QIAGEN N.V., Kollmorgen Corp, Bioreference Laboratories Inc., AssureRx Health Inc., Biodesix Inc., Crescendo Bioscience Inc., Affymetrix, Complete Genomics Inc., Aperico Technologies Inc., One Lambda Inc., Datech Oncology, Life Technologies, Signal genetics, CardioDx Inc.

How Is the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market Evolving?
In the IVD testing market, leading organizations in bioinformatics are concentrating on innovating solutions like next-generation sequencing (NGS) technology. Their goal is to improve the identification and breakdown of genetic mutations, increase the precision of diagnostics, and promote personalized treatment methods. NGS is a powerful technology that allows for quick sequencing of complete genomes or specific DNA and RNA segments, facilitating extensive genetic investigation. To illustrate, Illumina Inc., a biotechnology firm based in the US, released a new pan-cancer companion diagnostic (CDx) indication for its CE-marked TruSight Oncology Comprehensive (EU) test in May 2022. This test can identify cancer patients with solid tumors who have neurotrophic tyrosine receptor kinase (NTRK) gene fusions, such as NTRK1, NTRK2, or NTRK3, that might respond to Bayer's medication Vitrakvi (larotrectinib). The TSO Comprehensive (EU) test, which involves next-generation sequencing, analyzes several tumor genes and biomarkers from a single biopsy sample to discern a patient's individual cancer molecular profile.

What Are the Different Segmentations in the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market?
The bioinformatics in in-vitro diagnostics (IVD) testing market covered in this report is segmented -

1) By Type: Hardware, Software
2) By Type Of Test: Blood Based Tests, Tissue Based Tests
3) By Application: Cardiovascular Diseases, Chronic Diseases, Diabetes, Cancer, Other Applications

Subsegments:
1) By Hardware: Analyzers, Laboratory Equipment, Data Storage Devices, Sensors And Detectors, Workstations And Data Processing Hardware
2) By Software: Bioinformatics Platforms, Data Management and Integration Software, Analytics And Interpretation Software, Cloud-Based Software Solutions, AI-Based Software For Diagnostics

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/bioinformatics-in-in-vitro-diagnostics-ivd-testing-global-market-report

Which Region Is at the Forefront of the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market?
North America was the largest region in the bioinformatics in in-vitro diagnostics (IVD) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioinformatics in in-vitro diagnostics (IVD) testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Bioinformatics In In-Vitro Diagnostics (IVD) Testing Global Market Report?

- Market Size Analysis: Analyze the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16629

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.