In Vitro Diagnostics (IVD) Market Size, Share & Trends Analysis Report By Product, By Application, By Technology (Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology), By End User, And Segment Forecasts, 2013 - 2024

Industry Outlook

The global in vitro diagnostics (IVD) market size was valued at USD 65.2 billion in 2016. It is expected to expand at a CAGR of 6.8% during the forecast period. IVD devices enable early detection of cancer, infectious diseases, and genetic disorders by using genetic technologies and has applications in detection of abnormalities in the prenatal stage. Molecular diagnosis is evolving to help healthcare professionals in detecting various diseases that could possibly turn into severe social and economic burden later.

Growing prevalence of various types of chronic diseases is one of the key trends escalating market growth. Rise in the adoption of unhealthy & sedentary lifestyle, smoking habits, decreased rate of physical activity are leading to increased cases of chronic disorders. These factors raise the demand for diagnostic services to monitor health, which in turn is stoking the growth of the market.

Aging is considered as the greatest risk factor for development of diseases such as cardiovascular and neurological disorders. Therefore, widening base of geriatric population is estimated to augment the market over the forecast period. Aging also weakens immune systems and consequently heightens patient’s susceptibility to infectious diseases. 

Rapid technological advancements in terms of cost-effectiveness, portability, and accuracy are anticipated to drive the market. For instance, in June 2017, Agena Bioscience announced the launch of MassARRAY system integrated with CHIP Prep Module, which has received CE-IVD Mark under the Directive 98/79/EC. Moreover, usage of real-time polymerase chain reaction (qPCR) is one of the fastest growing application segments of the IVD infectious disease market.

Point-of-care testing or diagnostics as the name suggests refers to tests designed to be used near a patient’s site. Some of the major factors accounting for increase in demand for point-of-care healthcare facilities are government support, technological advancements, rising end-user awareness, and implementation of waived tests under clinical laboratory improvement amendments. Miniaturization of nano-biotechnology, biochips, and microfluidics is likely to increase the demand for point-of-care products. These improvements have increased the access to diagnostic tests near patient site and are projected to help in rendering quick and effective test results.

Product Insights

Reagents dominated the overall market in terms of revenue in 2016, majorly owing to their high usage. Growing R&D initiatives pertaining to reagents and rising demand for point-of-care and self-test products are projected to help the segment maintain its position in the market throughout the forecast period. These instruments are specially used for detection and analysis of blood samples for infection causing microorganisms.

Reagents such as protein biomarker specific antibodies, washing buffer, and fluorescent tags are used during immunochemistry assays. Multiple chemicals such as salts or magnesium chloride, primer mix, and dNTP mix are added to perform PCR tests. Primers and fluorescent-labeled nucleotides are primary and most frequently used reagents during molecular diagnostic techniques. Reagents are poised to register a significant rate owing to extensive R&D initiatives undertaken by key players for development of novel biomarker kits.

Application Insights

The infectious disease segment dominated the overall market in 2016 in terms of revenue owing to mounting cases of infectious diseases such as HIV, tuberculosis, and pneumonia. Cancer, on the other hand, is anticipated to be the fastest growing application segment. According to the National Cancer Institute, 1, 735,350 new cases of cancer are likely to be diagnosed in the U.S. alone in 2018. The market is driven by various factors such as surging demand for point-of-care diagnostics and self-care devices for the treatment of target diseases.

Technology Insights

On the basis of technology, clinical chemistry held the leading share in the market. The dominance of the segment can be attributed to high demand for test strips and reagents for urinalysis. Furthermore, molecular diagnostic is likely to be the fastest growing segment. Automation is being increasingly incorporated in clinical testing and the trend is projected to gain greater momentum in the coming years.

This is poised to support the growth of the segment. Availability of easy-to-use portable devices facilitates self-testing, which is expected to foster market growth.

End-use Insights

IVD services are used by hospitals, laboratories, and directly by patients. Hospitals were one of the most prominent end users in the in vitro diagnostics market in 2016. The growth of the segment can be attributed to increasing number of hospitals across the globe along with easy accessibility to them. On the other hand, the homecare segment is estimated to be the fastest growing segment over the forecast period, owing to increasing advancements in homecare settings and growing geriatric population.

Regional Insights

North America was the most prominent regional market in terms of revenue in 2016. Rising prevalence of chronic disorders such as respiratory diseases and cancer is the primary growth stimulant of the market in the region. Europe represented the second largest market in 2016 and is expected to register significant growth over the coming years due to growing incidence rate of tuberculosis, cancer, and pneumonia in future.

Asia Pacific is estimated to be the fastest growing region over the forecast period. Rising per capita healthcare expenditure, government initiatives, and growing clinical research activities for advanced diagnostics are anticipated to supplement the growth of the regional market over the forecast period. 

IVD Market Share Insights

Some of the leading players in the market are Beckman Coulter Inc.; Siemens Healthcare; Becton Dickinson; Johnson and Johnson; Abbott Laboratories; and Roche Diagnostics. The players are offering various solutions in the form of instruments, reagents, and services. To increase their market share, players are involved in extensive R&D activities to develop new products to cater to promising segments such as tissue and molecular diagnostics.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global IVD market report on the basis of product, application, technology, end-use, and region:

• Product Outlook (Revenue, USD Million, 2013 - 2024)

  • Instruments

  • Reagents

  • Software

• Application Outlook (Revenue, USD Million, 2013 - 2024)

  • Infectious Disease

  • Diabetes

  • Cancer

  • Cardiology

  • Nephrology

  • Autoimmune Diseases

  • Drug Testing

  • Others

• Technology Outlook (Revenue, USD Million, 2013 - 2024)

  • Immunology

  • Hematology

  • Clinical Chemistry

  • Molecular Diagnostics

  • Coagulation

  • Microbiology

  • Others

• End-use Outlook (Revenue, USD Million, 2013 - 2024)

  • Hospital

  • Laboratory

  • Home Care

  • Others

• Regional Outlook (Revenue, USD Million, 2013 - 2024)

  • North America

  • Europe

  • Asia Pacific

  • RoW