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Emerging Trends Influencing The Growth Of The In Vitro Diagnostic (IVD) In Cardiology And Neurology Market: Advancing Diagnostics Through Innovations In AI-Enabled Early Disease Detection
In Vitro Diagnostic (IVD) In Cardiology And Neurology Market
How Big Is the In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Size Expected to Be by 2034?
The in vitro diagnostic (IVD) in cardiology and neurology market size has grown strongly in recent years. It will grow from $15.84 billion in 2024 to $17.27 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rise in the prevalence of age-related cardiovascular and neurological disorders, rise in the aging population, growing emphasis on preventive healthcare and early disease detection, the increasing burden of cardiovascular diseases (CVDs) and neurological disorders, such as stroke and Alzheimer's disease, rise in investments in healthcare infrastructure, and rise in supportive regulatory frameworks governing the approval and reimbursement of diagnostic tests.
The in vitro diagnostic (IVD) market in cardiology and neurology is projected to grow to $24.07 billion by 2029 at a CAGR of 8.7%. Growth is driven by the shift toward personalized medicine, increasing demand for rapid and on-site testing, the expansion of telemedicine services, and rising research initiatives. Trends include liquid biopsy technologies, advances in nanotechnology, remote monitoring devices, use of multiplex biomarker panels, innovations in medical imaging modalities, and companion diagnostics for cardiovascular and neurological drugs.
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What Are the Emerging Segments Within the In Vitro Diagnostic (IVD) In Cardiology And Neurology Market?
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
Subsegments:
1) By Instruments: Diagnostic Analyzers, Point-Of-Care Devices, Electrophysiology Devices
2) By Reagents And Consumables: Diagnostic Reagents, Test Kits, Assay Consumables
3) By Software And Services: Diagnostic Software, Data Management Software, IVD Consulting And Support Services
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What Long-Term Drivers Are Shaping In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Trends?
As the adoption of personalized medicine continues to expand, it is expected to fuel growth in the in vitro diagnostic (IVD) market, particularly in cardiology and neurology. Personalized medicine tailors treatment to individual patients based on their genetic makeup, and IVD tests play a key role in providing the necessary information for these tailored treatments. The Personalized Medicine Coalition reported that personalized medicines accounted for 34% of all newly approved therapies in 2022, highlighting the rapid growth of this field. This increase in personalized treatments is propelling demand for IVD tests in cardiology and neurology.
Who Are the Top Competitors in Key In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Segments?
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 dic*kinson 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
What Trends Are Driving Growth in The In Vitro Diagnostic (IVD) In Cardiology And Neurology Market?
Leading enterprises in the cardiology and neurology (IVD) in vitro diagnostic market are constructing artificial intelligence(AI)-worked incorporated epigenetic frameworks for early disease recognition and risk evaluation. These AI-based engines employ machine-learning models and superior biomarker review methods to enhance precision and sensitivity in diagnosis and supervision of cardiovascular diseases, thus confronting major disease progression factors. For example, Cardio Diagnostics Holdings Inc., a biotech firm from the US, introduced PrecisionCHD in February 2023. It's an AI-powered blood test designed for the early detection of coronary heart disease (CHD). With the assistance of the organization's consolidated epigenetic-genetic engine, this test intends to detect and avert the most frequent form of cardiovascular disease. PrecisionCHD merges epigenetic and genetic biomarkers with machine-learning algorithms, administering over 75% sensitivity in both genders. It associates a patient's biomarker profile to changeable risk factors, which are substantial contributors to CHD, such as smoking, diabetes, high blood pressure, and elevated cholesterol levels. As a non-invasive alternative to exercise stress trials or angiograms, PrecisionCHD permits the collection of blood samples in-office or at a patient's residence.
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Which Regions Are Becoming Hubs for In Vitro Diagnostic (IVD) In Cardiology And Neurology Market Innovation?
North America was the largest region in the in vitro diagnostic (IVD) in cardiology and neurology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in vitro diagnostic (IVD) in cardiology and neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the In Vitro Diagnostic (IVD) In Cardiology And Neurology Market?
2. What is the CAGR expected in the In Vitro Diagnostic (IVD) In Cardiology And Neurology Market?
3. What Are the Key Innovations Transforming the In Vitro Diagnostic (IVD) In Cardiology And Neurology Industry?
4. Which Region Is Leading the In Vitro Diagnostic (IVD) In Cardiology And Neurology Market?
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