In-Vitro Diagnostics Market Set to Soar Past USD 106914.16 Billion by 2030
The global In-Vitro Diagnostics market size is expected to reach USD 106914.16 billion by 2030 and exhibit a CAGR of 4.08% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing prevalence of chronic diseases and infectious illnesses, growing demand for personalized and precision medicine approaches, and rising geriatric population contributing to higher healthcare needs fuel the market’s growth.
Westford, USA, Aug. 07, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the In-Vitro Diagnostics market, increased adoption of point-of-care testing for faster results and improved patient care, integration of AI and machine learning for data analysis and pattern recognition, growth of companion diagnostics for targeted therapies, increasing use of liquid biopsy for non-invasive cancer detection, expansion of molecular diagnostics for infectious diseases and genetic disorders, emphasis on lab automation and robotics for enhanced efficiency, rising demand for home-based testing kits, and collaborations between diagnostic companies and pharmaceutical firms for comprehensive patient care solutions are the trends that aid in the market’s growth.
Browse in-depth TOC on “In-Vitro Diagnostics Market”
- Pages – 157
- Tables – 133
- Figures – 77
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In vitro diagnostics (IVDs) are medical devices that are used to analyze samples taken from the human body. These samples can include blood, urine, tissue, and other bodily fluids. IVDs are used to diagnose diseases, monitor patient health, and track the effectiveness of treatments.
Prominent Players in In-Vitro Diagnostics Market
- Abbott
- Alere
- bioMérieux
- Beckman Coulter
- Becton Dickinson
- Bio-Rad Laboratories
- Cepheid
- Danaher
- DiaSorin
- Illumina
- Instrumentation Laboratory
- Johnson & Johnson
- LabCorp
- Luminex
- Ortho Clinical Diagnostics
- PerkinElmer
- Qiagen
- Quidel
- Siemens Healthineers
- Thermo Fisher Scientific
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Reagents and kits Demand to Grow Substantially in the Forecast Period
Reagents and kits dominate the global online market as these fundamental components are used across various diagnostic tests and technologies. They are required for sample preparation, reaction initiation, and result interpretation in a wide range of diagnostic applications.
Cancer is the Leading Application Segment
In terms of application, Cancer is the leading segment as it remains a major global health concern, with the incidence of various types of cancer on the rise. As the prevalence of cancer increases, the demand for accurate and reliable diagnostic tools to detect and monitor cancer also grows.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Factors such as a well-established healthcare infrastructure, significant investment in research and development, and a high prevalence of chronic diseases contribute to the region’s dominance. Additionally, the presence of major diagnostic companies and academic institutions fosters innovation and technological advancements.
A recent report thoroughly analyzes the major players operating within the In-Vitro Diagnostics market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for In-Vitro Diagnostics.
Key Developments in In-Vitro Diagnostics Market
- In January 2023, Danaher, a multinational conglomerate, acquired Beckman Coulter, a leading provider of IVD products and services. The acquisition was valued at $13.6 billion. Danaher said that the acquisition would strengthen its position in the IVD market and expand its product portfolio.
- In February 2023, QIAGEN, a global leader in molecular diagnostics, acquired Luminex, a provider of multiplexing systems for IVD applications. The acquisition was valued at $1.5 billion. QIAGEN said that the acquisition would strengthen its position in the multiplexing market and expand its product portfolio.
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Key Questions Answered in In-Vitro Diagnostics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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