Global In Vitro Diagnostics (IVD) Market – Size by Type, By Distribution Channel, And Forecast till 2022-2031

Global In-Vitro Diagnostics Market – Drivers, Opportunities, Trends, and Forecasts: 2022–2031


Overview:
In-vitro diagnostics is a process of diagnosing various medical conditions using assay kits and analyzers. The in-vitro diagnostics (IVD) market is growing at a steady rate as there is an increase in the awareness of various diseases and various plans are initiated by the government to reduce the diseases. Most of the IVD tests are performed in medical and clinical laboratories but the advent of point-of-care (POC) technology has enabled testing to be performed in the presence of the patient and even at their home. This technology advancement is driving market growth during the forecast period.

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Factors, such as increasing lifestyle diseases, growing adoption of POC testing, increasing demand for biomarker-based testing and demand from the emerging countries are expected to drive the market growth during the forecast period. The increased sales of counterfeit glucose monitoring strips and stringent regulatory approval processes are factors hampering the market growth.


The regulatory scenario is of concern as there has been a wide range of instruments and assays, which range from Class I to Class III devices. Recently there has been a change in regulations in the European region, which has been a major issue for the market players.
The market is witnessing an emerging trend for noninvasive prenatal testing, next-generation sequencing (NGS), liquid biopsy, and circulating tumor cells test. The markets in India, Brazil, and China are expected to grow at a rapid pace during the forecast period due to the high prevalence of infectious diseases in these countries.

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Market Analysis:
The global in-vitro diagnostics market is estimated to witness a CAGR of 5.31% during the forecast period 2017–2023. The market is analyzed based on five segments – technology, application, test types, end-users, and regions.


Factors, such as increased sales of POC cardiac markers and increased adoption of DNA probe-based diagnostics are growth opportunities for the market players. The market is witnessing an emerging trend of companion diagnostics, cardiac biomarkers, POC markers, and other novel technologies that are helping in diagnosing the diseases at an early stage with precision. There has been a transition from diagnosis in core laboratories to diagnosis in front of the patient.


Regional Analysis:
The regions covered in the in-vitro diagnostics market report are the Americas, EMEA, APAC, and Rest of the World (ROW). The Americas is set to be the leading region for the IVD market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The markets in India, Brazil, and China are expected to grow at a rapid pace during the forecast period as the prevalence of infectious diseases and lifestyle diseases in these countries is high. These countries are set to be the target regions for the market players due to the large untapped potential.


Technology Analysis:
The global IVD market is segmented by the following technologies- immunoassay, clinical chemistry, clinical microbiology, molecular diagnostics, hematology, and coagulation. The clinical chemistry market is currently leading the market with a share of 32.2% due to the high prevalence of diabetes. India has the highest rate of diabetes, making Asia Pacific the region for future investments. The molecular diagnostics segment is expected to have the fastest growth rate during the forecast period. Technological advancements in various molecular diagnostics technology, such as PCR and NGS, are driving the market. The market is also witnessing various M&A and collaborations among the top players, which are defining the future of the global IVD market.

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