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In vitro Diagnostics (IVD) Market Size, Share & Industry Analysis, By Product Type (Instruments, Reagents & Consumables), By Technique (Immunodiagnostics, Clinical Chemistry, Molecular Diagnostics, Point of Care, Hematology and Others), By Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology, Others), By End User (Clinical Laboratories, Hospitals, Physicians Offices, Others) and Regional Forecast, 2019 – 2026

Region : Global | Published Date: Sep, 2019 | Report ID: FBI101443

 

KEY MARKET INSIGHTS

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In vitro diagnostics are medical devices and accessories used to perform tests with the help of samples such as blood, urine, and tissue to help detect infection, prevent disease, monitor drug therapies and diagnose a medical condition. In vitro diagnostics add significant value to treatment processes and medical diagnoses.


IVD industry is consolidated in nature and demonstrates increasing adoption rates of diagnostic devices and use of in vitro diagnostic instruments in clinical laboratories and hospitals. In vitro diagnostics industry has perceived significant developments over the recent years. Introduction of new techniques for rapid and fast disease diagnosis is anticipated to surge the demand for in vitro diagnostics, subsequently, driving business growth during the forecast period.


In vitro diagnostics are integrated with advanced techniques like immunodiagnostics, clinical chemistry, molecular diagnostics, and others. The market is anticipated to witness the growth due to technological advancements, improved and efficient diagnostic tools, and increased availability of over the counter tests. Increasing demand for advanced, personalized and rapid diagnostic system is anticipated to propel the market.


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Additionally, increased funding by government and other organizations in the healthcare sector is one of the factors likely to boost the global in vitro diagnostics market shares during the forecast period. Various initiatives undertaken by the government to provide information and education on personalized medicine and in vitro diagnostic tools for effective patient management is anticipated to drive the IVD growth.


MARKET DRIVERS


“The Rising Prevalence of Chronic and Infectious Diseases likely to propel the global In vitro Diagnostics market.”


The rising prevalence of infectious diseases, leading to increasing demand for disease diagnosis is one of the factors anticipated to propel the in vitro diagnostics market growth. For instance, according to the National Institute of Health (NIH), in 2017, around 23.5 million cases of autoimmune diseases were reported in America and are expected to increase during the forecast period.


Additionally, increasing prevalence of cardiovascular diseases in developed and developing countries is one of the major factor driving the growth of the in vitro diagnostics. For instance, according to U.S. Department of Health & Human Services, around 735,000 Americans suffer from a heart attack every year. Additionally, The Heart Disease and Stroke Statistics, 2019 Update from the American Heart Association indicated that 116.4 million, or 46% of US adults are estimated to have hypertension. The increasing number of patients suffering from cardiovascular diseases is likely to increase the demand for the in vitro diagnostics tools, subsequently propelling market growth.


The rising consumption of tobacco and alcohol, adoption of a sedentary lifestyle, unhealthy dietary habits, etc. are the major factors responsible for increasing prevalence of chronic diseases. The rising prevalence of the chronic disorders is likely to increase the demand of the in-vitro diagnostic tools. This factor is predicted to fuel the demand for the growth of the IVD market.


“The Increasing Use of Point-of-care (POC) Diagnostics and Technological Advancements in In- Vitro Diagnostics Tools to drive the global In vitro Diagnostics industry.”


Increased adoption and demand for point-of-care (POC) devices is expected to fuel market growth. Additionally, the introduction of advanced technologies, such as biochips and nano-biotechnology, and miniaturization of microfluidic tools is likely to boost the demand of the point-of-care (POC) devices. These advanced techniques have facilitated easy access to point- of care diagnostic tests and offer quick and valid test results attributing to increasing the demand of the in vitro diagnostic tools. These factors are subsequently anticipated to drive the growth of the market during the forecast period.


For instance, In June 2019, Abbott launched, Afinion HbA1c Dx assay its first rapid point-of-care test for diagnosis of diabetes among general population. The increased investment by key market players in the development of technologically advanced and rapid testing devices is likely to drive the growth of the IVD industry.


Recently, adoption of rapid and accurate tests for diagnosis of infectious diseases and other chronic diseases is fueling the demand for the in vitro diagnostics market. In March 2018, Sekisui Diagnostics announced the launch of Silaris point-of-care (POC) for diagnosis of infectious diseases. These recent product launches will boost the patient shift from traditional diagnostic tools towards advanced in vitro diagnostics. This is one of the major factor driving the growth of the market.


SEGMENTATION


By Product Type Analysis


“The reagents & consumables segment is anticipated to generate the highest revenue during the forecast period.”


As with the help of advanced technologies and rapid diagnostics, the in vitro diagnostics market is anticipated to grow at a faster rate. Increasing prevalence of chronic and infectious diseases, is projected to fuel the demand for the diagnostics tool, hence is projected to drive the growth of the global IVD market.


Reagents and consumables segment dominated the product type owing to high usage of the reagents and consumables in the in vitro diagnostics. Increased number of research and development activities for the diagnosis of chronic diseases is one of the major factor fueling the demand for reagents and consumables.


Rising demand and adoption of the self-test and point-of-care devices will subsequently increase the demand for the reagents and consumables during the forecast period. An increasing number of in vitro diagnostic tests is one of the major factor driving the growth of the reagents and consumables segment.


The instruments segment is expected to grow at a slower pace. Technologically advanced instruments and introduction of the rapid testing tools are some of the factors propelling the segment growth. For instance, in April 2018, Altona Diagnostics GmbH, launched a CE-IVD marked AltoStar Molecular Diagnostics Workflow. AltoStar Molecular Diagnostics a flexible and efficient automatic system that automates the entire workflow from sample preparation upto analysis.


By Application Outlook/ Analysis


“Oncology is anticipated to exhibit a significant CAGR during the forecast period.”


Infectious diseases segment dominated the application segment and is anticipated to exhibit lucrative growth over the forecast period. Rising prevalence of cardiovascular diseases such as coronary artery disease, arrhythmias, and stroke globally is likely to increase the demand for in vitro diagnostics tools. These factors are expected to drive the growth of the cardiology segment subsequently.


Oncology segment held a substantial share and is projected to witness significant CAGR during the forecast period. Availability of advanced home care kits such as fecal occult blood test (FOBT) for diagnosis of colon cancer in homecare settings is one of the major factor likely to increase demand in the oncology segment. These are some of the factor is expected to drive the growth of the oncology segment during the forecast period.


The increasing prevalence of infectious disease and cancer are major factors boosting the demand for the in vitro diagnostics. Increasing investment by research institutes and key market players in the development of the rapid and easy in vitro testing tools in the oncology is one of the major factor propelling the growth of the oncology segment.


By Technique


“Immunodiagnostics to hold a leading position in the In vitro Diagnostics market in terms of revenue generation in the forecast period.”


The various techniques used in the in vitro diagnostics are immunodiagnostics, clinical chemistry, molecular diagnostics, point-of-care, hematology, and others. The immunodiagnostics segment accounted for the largest share in the in vitro diagnostics market report.


Increasing incidence of chronic and infectious diseases and rising need for early diagnosis are some of the primary key factors attributed to the growth of the technique segment. Molecular diagnostics is expected to grow at a significant CAGR during the forecast period. Molecular diagnostics facilitate early detection of cancer, infectious diseases, and genetic disorders by using genetic technologies and helps in the detection of abnormalities in the prenatal stage. These are some of the factors anticipated to drive the growth of the molecular segment growth.


Clinical chemistry segment accounted for the second-largest share in the technique segment. Attributing to various applications of clinical chemistry, including detection of hormone fluctuations and blood glucose levels is anticipated to propel the segment growth. Point of care segment is anticipated to grow at a significant CAGR during the forecast period owing to increased demand for the point of care testing diagnosis. The demand for rapid and accurate diagnostics globally is one of the major factor likely to accelerate the segment growth.


By End User Outlook/ Analysis


“In global In vitro Diagnostics market by end-user, clinical laboratories segment would hold the highest share.”


Followed by clinical laboratories, hospitals are anticipated to hold the highest global in vitro diagnostics market share. High demand for in vitro diagnostic tests as a result of increased in hospitalization is one of the factors propelling the use of the in vitro diagnostics in the hospital segment.


Increasing demand for biosensors, pregnancy kits, and glucose meters to ensure quick and accurate results are some of the major factors propelling the growth of the physician's offices segment at a faster rate.


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Increasing incidence of cardiac diseases and diabetes and the rising prevalence of infectious diseases in developing countries are the major factors driving the demand for point-of-care tests. The growing use of point of care devices within hospitals and physicians office, especially in remote and rural areas, are also fueling the demand for point of care tests and subsequently driving the growth of the hospitals and physicians office segments.


REGIONAL ANALYSIS


North America generated a revenue of USD 23.09 Billion in 2018 and is anticipated to emerge as a dominant region in the global in vitro diagnostics market research during the forecast period. Adequate and favorable government regulations, well-established diagnostic infrastructure, adoption of technologically advanced diagnostic techniques, and presence of prominent key market players in this region are some of the significant factors anticipated the drive the growth of the market in North America.  


Asia Pacific is expected to grow at a significant CAGR during the forecast period. Increasing prevalence of cardiovascular diseases and infectious diseases and rapid development in the healthcare infrastructure of developing countries such as India and China is anticipated to rise the demand for the in vitro diagnostic tools. These factors are expected to subsequently drive the market growth in the Asia Pacific at a faster pace.


North America In-vitro Diagnostics Market Size, 2018

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On the other hand, Europe is projected to witness significant growth in the global IVD market. The high-income countries, including Germany U.K., and Spain, are anticipated to contribute to the growth of the IVD market in the region. Rising healthcare expenditure and increasing adoption of point-of-care testing devices are some of the major factors driving the growth of the IVD market in Europe.


The Middle East and Africa is anticipated to register high growth in the in vitro diagnostics market owing to the technological developments, rapidly expanding hospital infrastructure, and entry of global players in the region through direct and indirect presence. The region is significantly heading towards the modernization and technological developments. Latin America is also expected to grow at a significant CAGR during the forecast period.


INDUSTRY KEY PLAYERS


“Market Players like F. Hoffmann-La Roche Ltd, Abbott, Thermo Fischer Scientific Inc., and Siemens holds substantial market share by providing in vitro diagnostics tools”


The top key market players focus on strategies, such as mergers and acquisitions, collaborations, and new product developments and launches to strengthen their market position globally and increase their market share. For instance, in August 2018, Sysmex Corp. and JVCKENWOOD Corp. jointly established a new manufacturing company “Creative Nanosystems Corp.” to develop and manufacture bio-devices. These strategic collaborations strengthened the company’s product portfolio and reinforced its market position.


Siemens Healthcare is one of the most significant market players in the healthcare industry and major player in laboratory diagnostics, medical information technology, and medical imaging. The diagnostics division of the company includes products for clinical chemistry, drug testing, hematology, coagulation, immunoassay, infectious diseases, molecular diagnostics, point of care testing and many others. Having a strong product portfolio and supply chain makes the company dominant in the in vitro diagnostics market. Siemens Healthcare, along Abbott, F. Hoffmann-La Roche Ltd, and Thermo Fischer Scientific Inc., hold a dominant market share by providing a wide range of in vitro diagnostics tools for disease detection and analysis.


List of Key Companies



  • F. Hoffmann-La Roche Ltd

  • Abbott

  • Siemens

  • Thermo Fisher Scientific Inc.

  • Danaher

  • Bio-Rad Laboratories, Inc.

  • QIAGEN

  • Sysmex Corporation

  • Quest Diagnostics Incorporated

  • Other Prominent Players


REPORT COVERAGE


"A growing trend observed in the penetration of the in vitro diagnostics market across the industries. "


The report provides qualitative and quantitative insights on the global IVD market and detailed analysis of global in vitro diagnostics market size & growth rate for all possible segments in the market. This market is segmented by product type, technique, application, end user, and geography.


Based on the product type, the global IVD market is classified into instruments and consumables and reagents. By technique, the global in vitro diagnostics market is bifurcated into immunodiagnostics, clinical chemistry, molecular diagnostics, point-of-care, hematology, and others.


Based on the application, the market is segmented into the infectious diseases, cardiology, oncology, gastroenterology and others. By end user, the global market is divided into clinical laboratories, hospitals, physician’s offices and others. Geographically, the global IVD market size has been analyzed across five major regions, which are North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America this region is further categorized into countries.


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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global in vitro diagnostics market, such as mergers & acquisitions, the reimbursement policies, SWOT analysis, and key retail industry trends, competitive landscape and company profiles.


Report Scope & Segmentation














































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Million)



Segmentation



By Product Type



  • Instruments

  • Reagents & Consumables



By Technique



  • Immunodiagnostics

  • Clinical Chemistry

  • Molecular Diagnostics

  • Point of Care

  • Hematology

  • Others



By Application



  • Infectious Diseases

  • Cardiology

  • Oncology

  • Gastroenterology

  • Others



By End User



  • Clinical Laboratories

  • Hospitals

  • Physician’s Offices

  • Others



By Region



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



 


INDUSTRY DEVELOPMENT:



  • July 2018: Thermo Fisher Scientific launched Phadia 200 for diagnosis of allergy & autoimmune conditions. The launch of Phadia 200 is anticipated to increase the revenue of the company.

  • March 2017: Cepheid, Rutgers New Jersey Medical School and FIND launched new version of the Xpert MTB/RIF test, the Xpert MTB/RIF Ultra (Ultra), for the diagnosis of TB and rifampicin resistance. The World Health Organization (WHO) issued a recommendation for Ultra, which can be used as an alternative to the existing Xpert MTB/RIF test for the diagnosis of TB and detection of rifampicin resistance.


Frequently Asked Questions

Fortune Business Insights says that the in-vitro diagnostics market was valued at US$ 61.22 Bn in 2018 and is projected to reach US$ 87.11 Bn by 2026.

Growing at a CAGR of 4.5%, the in-vitro diagnostics market will exhibit steady growth in the forecast period (2019-2026)

Infectious disease in-vitro diagnostics segment is expected to be the leading segment in the in-vitro diagnostics market during the forecast period.

The rising prevalence of chronic and infectious diseases and the increasing use of point-of-care (POC) diagnostics and technological advancements in - vitro diagnostics tools are some of the factors anticipated to drive the growth of the in-vitro diagnostics market.

F. Hoffmann-La Roche Ltd, Abbott, Thermo Fischer Scientific Inc., and Siemens are the top players in the in-vitro diagnostics market.

North America is expected to hold the highest market share in the in-vitro diagnostics market.

The use of in-vitro diagnostics tools such as point of care testing tools at physicians’ offices and hospitals are some of the factors expected to drive the adoption of in-vitro diagnostics

Introduction technologically advanced, and rapid diagnostics kits and tools are one of the in-vitro diagnostics market trends.

In-vitro Diagnostics (IVD) Market Size, Share and Global Industry Trend Forecast till 2026
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