Published: Aug, 2018

The global in vitro diagnostics market is likely to witness a steady rise in coming years. Innovation of new product through exhaustive research and development is something that has been tried out by various leading players in order to formulate their brand name. Some of the major companies which are known to have followed these techniques are Danaher Corporation, Becton Dickinson and Company, Hoffmann-La Roche Ltd., Abbott, and Biomerieux SA.

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According to Transparency Market Research report, the global in vitro diagnostics market is predicted to expand at 5.6% of CAGR during the course of the forecast period 2017-2025. The market is likely to be worth at US$89862.2mn by the end of 2025 from US$55000 mn in 2016.

On the basis of the technology type the market the global market for in-vitro diagnostic tests is bifurcated into clinical microbiology, coagulation and hemostasis, whole blood glucose monitoring, hematology, immunoassays, clinical chemistry, and point of care. Amongst the pack, the clinical chemistry held the leading share in the market in 2016. The segment accounted for around 25.2% of the whole market share. Geographically, the market North America is known to dominate the market attributing to its superior healthcare framework, rise in awareness among people regarding various health conditions, and thriving research and development in the healthcare sector.

Rapid Advancement in Technology to Fuel the Growth of Market

Rise in prevalence of chronic and infectious diseases throughout the world is known to fuel the growth of the market. Rise in diseases such as diabetes, cancer, obstructive pulmonary diseases, and human immunodeficiency infections is anticipated to help the growth of the market in the years to come. Rise in disposable income across the world is actually helping in spending on healthcare sector which includes advanced treatment, this is known to create a lucrative opportunity for the market to grow. Demand for procedures which are non-invasive or minimally invasive is bringing new horizons in the global in-vitro diagnostic market. Apart from these, the progress in monitoring of treatment and rising accessibility of over-the-counter tests are some of the other factor that bolstering the growth of the market.

Complicated Reimbursement Policies Stalls the Market Growth

Complex and constraint number of reimbursement policies is standing in the way of the global in vitro diagnostics market. This factor is anticipated to deter the growth of the market. However, with the rise in pool of geriatric population all across the world, who have less immunity and are more vulnerable to diseases, is known to boost the market growth. Demand for treatment of a disease on the early stage is also helping the market to gain traction. Another reason behind the popularity of in vitro diagnostics market is the fact that it does not require clinical labs for doing a tests. Nowadays, pregnancy test is done safely at with a test kit. This is known to save time and also provide accurate results, thus stoking the growth of the market.

This review is based on the findings of a TMR report, titled, “In Vitro Diagnostics Market (Technology - Point of Care, Molecular Diagnostics, Immunoassays, Clinical Chemistry, Whole Blood Glucose Monitoring, Hematology, Clinical Microbiology, and Coagulation and Hemostasis; Application - Drug Testing, Infectious Disease, Oncology, Metabolic Disease, and Autoimmune Disease; End User - Diagnostics Laboratories, Hospitals, Academic & Research Centers, and Home Care) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017–2025.”

The report segments the Global in Vitro Diagnostics Market into the following:

Global In Vitro Diagnostics Market, by Technology

  • Point of Care
  • Molecular Diagnostics
    • Polymerase Chain Reaction(PCR)
    • Isothermal Nucleic Acid Amplification Technology
    • Microarray
    • Hybridization
    • DNA Sequencing and Next Generation Sequencing
    • Other MDX Technologies
  • Immunoassay
    • Enzyme-Linked Immunosorbent Assays (ELISA)
    • Radioimmunoassay (RIA)
    • Enzyme-Linked Immunospot (ELIspot) Assay
    • Rapid Tests
    • Other Immunoassay Techniques
  • Clinical Chemistry
    • Basic Metabolic Profile
    • Electrolyte Panel
    • Liver Panel
    • Lipid Panel
    • Renal Panel
    • Thyroid Function Panel
    • Specialty Chemical Tests
  • Whole Blood Glucose Monitoring
  • Hematology
  • Clinical Microbiology
  • Coagulation and Hemostasis
  • Others

Global In Vitro Diagnostics Market, by Application

  • Drug Testing
  • Infectious Disease
  • Oncology
  • Metabolic Disease
  • Autoimmune Disease
  • Others

Global In Vitro Diagnostics Market, by End User

  • Diagnostics Laboratories
  • Hospitals
  • Academic & Research Centers
  • Home Care
  • Others

Global In Vitro Diagnostics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Rest of Middle East & Africa

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