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In-vitro Diagnostics Market to grow by USD 33.16 billion from 2021 to 2026| The rising geriatric population with chronic and infectious diseases drives the market growth- Technavio
NEW YORK, Dec. 3, 2023 /PRNewswire/ -- The in-vitro diagnostic market size is estimated to grow by USD 33.16 billion from 2021 to 2026. The market is estimated to accelerate at a CAGR of 6.89%, according to Technavio. The rising geriatric population with chronic and infectious diseases drives the in-vitro diagnostics (IVD) market growth during the forecast period. There is a growing usage of in-vitro diagnostic tests for various viruses, including the hepatitis B virus (HBV), the hepatitis C virus (HCV), and others that cause infectious diseases. There is an increasing requirement to diagnose diseases such as diabetes and cancer at a primitive stage to ensure daily monitoring of patients to identify, treat, control, and limit their prevalence. Hence, rapid on-site diagnostic tests are essential for diagnosing diseases within a limited timeframe. For instance, one such diagnostic technique is a molecular diagnostic technique that helps in identifying infections at an early stage through antigen and antibody interactions and thereby limit the prevalence of such diseases. Hence, the increasing prevalence of diseases in the aging population is expected to drive market growth during the forecast period. Download a Sample Report Now!
In-vitro Diagnostics Market Insights -
- Vendors: 15+, Including Abbott Laboratories, Agilent Technologies Inc., ARKRAY Inc., Becton Dickinson and Co., BGI Group, Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., DiaSorin SpA, F. Hoffmann La Roche Ltd., Grifols SA, Illumina Inc., Ortho Clinical Diagnostics plc, QIAGEN NV, Quest Diagnostics Inc., Siemens AG, Sysmex Corp, and Thermo Fisher Scientific Inc and among others.
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Technology (Immunoassay, Molecular diagnostics, Clinical chemistry, Hematology, and Others) and Geography (North America, Europe, Asia, and the Rest of the World (ROW))
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The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Abbott Laboratories, Agilent Technologies Inc., ARKRAY Inc., Becton Dickinson and Co., BGI Group, Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., DiaSorin SpA, F. Hoffmann La Roche Ltd., Grifols SA, Illumina Inc., Ortho Clinical Diagnostics plc, QIAGEN NV, Quest Diagnostics Inc., Siemens AG, Sysmex Corp, and Thermo Fisher Scientific Inc. and among others.
Significant Trends -The advancements in in-vitro diagnostics are the primary trend in the market during the forecast period.
Key challenges - Stringent regulatory guidelines for in-vitro diagnostics manufacturers can pose a significant threat which can hinder the in-vitro diagnostics (IVD) market growth during the forecast period.
The in-vitro diagnostics market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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- Analyzes competitor's offerings
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What are the key data covered in this In-vitro Diagnostics Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the in-vitro diagnostics market between 2022 and 2026
- Precise estimation of the in-vitro diagnostics market size and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the in-vitro diagnostics market across North America, Europe, Asia, and the Rest of the World (ROW)
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of in-vitro diagnostics market vendors
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- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Technology
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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