U.S. In Vitro Diagnostics Market Size, Share & Trends Report

U.S. In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product (Reagents, Instruments, Services), By Technology (Immunoassay, Molecular Diagnostics), By Application, By End-use, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68039-256-6
  • Number of Pages: 358
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the u.s. in vitro diagnostics market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process foru.s. in vitro diagnostics market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods ofu.s. in vitro diagnostics market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. In Vitro Diagnostics Market Categorization:

Theu.s. in vitro diagnostics market was categorized into four segments, namely product (Instruments, Reagents, Services), technology (immunoassays, Hematology, Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology), application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing, Hematologic Diseases), end-use (Hospitals,Laboratories,Home-care,), and regions (U.S.).

Segment Market Methodology:

Theu.s. in vitro diagnostics market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The u.s. in vitro diagnostics market was analyzed at a regional level. The globe was divided into U.S., keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into countries, namely, 

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. in vitro diagnostics market companies & financials:

Theu.s. in vitro diagnostics market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Abbott is a U.S.-based healthcare and pharmaceutical company that operates in four core business segments: pharmaceuticals, medical devices, nutritional products, and diagnostics. The company has a presence in more than 160 countries through research, manufacturing, sales, and distribution facilities.

  • Bio-Rad Laboratories, Inc. manufactures systems & products used in separating complex biological and chemical materials as well as analyzing, identifying, and purifying their respective components. The company works in two segments: clinical diagnostics and life sciences.

  • Siemens Healthcare GmbH is a leading healthcare provider operating in numerous countries. The company is engaged in the development of a diverse range of diagnostic products for healthcare professionals in more than 180 countries. In addition, the company offers diagnostic and clinical consulting services.

  • BIOMÉRIEUX provides in vitro diagnostics, especially for infectious diseases. The company is engaged in manufacturing instruments, chemical reagents, and software systems used by clinical laboratories to test for infections such as TB, sepsis, hospital-acquired infections, & AIDS as well as for cardiovascular disease & cancer. In addition, the company has operations in 44 countries.

  • Danaher is a science & technology innovator that designs, manufactures, and markets its products & services to industrial, professional, commercial, & medical customers. The company is a well-diversified medical and industrial conglomerate. Danaher operates through three business segments including life sciences, environmental & applied solutions, and diagnostics.

  • QIAGEN provides samples and assay technologies for academic research, applied testing, molecular diagnostics, and pharmaceutical research. The company markets over 500 products including consumable kits and automation systems. In addition, the company offers products for NGS, cancer research, forensics, informatics, oncology, infectious diseases, and TB management.

  • BD is a medical technology company that serves clinical laboratories, life sciences researchers, and healthcare institutions & industries. The company manufactures and markets a wide range of devices, diagnostic products, medical supplies, and laboratory equipment. It operates across three business segments: BD Life Sciences, BD Medical, and BD Interventional.

  • F. Hoffmann-La Roche Ltd. is a healthcare company with business operations in the following two divisions: pharmaceuticals and diagnostics. Roche Diagnostics comprises Roche Professional Diagnostics (RPD), Roche Molecular Diagnostics (RMD), Roche Tissue Diagnostics, and Roche Diabetes Care.

  • Quidel Corporation develops & manufactures point-of-care diagnostic solutions for contagious diseases such as group A streptococcal infections and influenza. It is headquartered in the U.S. The company mainly focuses on developing and marketing diagnostic solutions. These testing solutions mainly focus on women’s health, gastrointestinal diseases, and infectious diseases.

  • Agilent Technologies, Inc. is involved in providing analytical instruments & software for analytical scientists & clinical researchers. The company has operations in diagnostics, pharmaceuticals, food, chemical & energy, environmental & forensics, and research segments.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. In Vitro Diagnostics Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. In Vitro Diagnostics Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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