The global in vitro diagnostics (IVD) market size was estimated at USD 77.92 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030.
The growth can be attributed to increasing adoption of IVD owing to a rise in the incidence of infectious and chronic diseases. The development of automated IVD systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses is expected to fuel market growth. The rising number of IVD products being launched by key players is also fueling market growth. For instance, in November 2023, ARUP Laboratories received a CE mark from EU-IVDR for AAV5 DetectCDx, a companion diagnostic to select the eligibility of severe hemophilia A-affected patients for BioMarin’s new gene therapy, Roctavian.
Technological advancements in terms of accuracy, portability, and cost-effectiveness are expected to be one of the high-impact rendering drivers of this market. Introduction of novel and highly accurate clinical laboratory tests is boosting the adoption of novel IVD tests worldwide. In June 2023, Toray Industries, Inc. received marketing approval from Japan’s Ministry of Health, Labour and Welfare for its Toray APOA2-iTQ used to diagnose pancreatic cancer. Moreover, in March 2023, Abbott received U.S. FDA clearance for its novel laboratory Traumatic Brain Injury (TBI) blood test in the U.S. Increasing approvals of IVD tests for life-threatening diseases are expected to create new opportunities in the untapped market.
Gather more insights about the market drivers, restrains and growth of the In Vitro Diagnostics Market
In Vitro Diagnostics Market Report Highlights
• Molecular diagnostics is anticipated to grow at the fastest CAGR from 2024 to 2030 owing to the rising adoption and usage rate
• Reagents held the largest market share owing to the surge in demand for genetic testing and enhanced availability of technologically advanced diagnostic tests in lower and middle-income countries with unmet clinical needs
• The infectious diseases application segment held the largest market share owing to the large volume of testing for infectious diseases globally
• North America dominated the global market in 2023 owing to the high demand for novel technologies, a large pool of key players, high prevalence of diseases, and advanced healthcare infrastructure
Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.
• The global hepatitis diagnostic market size was valued at USD 3.82 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030.
• The global hematology diagnostics market size was valued at USD 7.54 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030.
In Vitro Diagnostics Market Segmentation
Grand View Research has segmented the global in vitro diagnostics (IVD) market report based on product, technology, application, end-use, test location, and region:
IVD Product Outlook (Revenue, USD Million, 2018 - 2030)
• Instruments
• Reagents
• Services
IVD Technology Outlook (Revenue, USD Million, 2018 - 2030)
• Immunoassay
o Instruments
o Reagents
o Services
• Hematology
o Instruments
o Reagents
o Services
• Clinical Chemistry
o Instruments
o Reagents
o Services
• Molecular Diagnostics
o Instruments
o Reagents
o Services
• Coagulation
o Instruments
o Reagents
o Services
• Microbiology
o Instruments
o Reagents
o Services
• Others
o Instruments
o Reagents
o Services
IVD Application Outlook (Revenue, USD Million, 2018 - 2030)
• Infectious Diseases
• Diabetes
• Oncology
• Cardiology
• Nephrology
• Autoimmune Diseases
• Drug Testing
• Others
IVD Test Location Outlook (Revenue, USD Million, 2018 - 2030)
• Point of Care
• Home-care
• Others
IVD End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Hospitals
• Laboratory
• Home-care
• Others
IVD Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Spain
o Italy
o Russia
o Denmark
o Sweden
o Norway
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
o Thailand
o Singapore
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Kuwait
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