In-vitro Diagnostics Market Size Upsurges By 2026 with Massive Gains as US$ 903.3 Billion; Industry Affirmations By Top Competitors | Coherent Market Insights
In-vitro diagnostics (IVD) are advanced diagnostic tools that are used to perform a test on body samples in order to detect or diagnose the disease.
The global in-vitro diagnostics market size was valued at US$ 60,274.1 million in 2017 and is expected to exhibit a CAGR of 4.6% over the forecast period (2018–2026).
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Figure 1. Global In-Vitro Diagnostics Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
The growing global prevalence of cancer and autoimmune diseases is projected to propel the market growth
Increasing the prevalence of cancer and autoimmune diseases is projected to drive the global in-vitro diagnostics market. According to the American Diabetes Association 2016, an estimated 29.1 million Americans, contributing a total of 9.3% of the population, had severe Type II diabetes, while around 1.25 million American children and adults having type 1 diabetes. Similarly, according to the Multiple Sclerosis Foundation, 2017, multiple sclerosis autoimmune condition affects 2.5 million people with the global incidence of around 7 cases per 100,000 people per year.
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Growing strategic acquisition and collaboration by market players for expanding their presence in the market is expected to bolster the market growth. For instance, in January 2017, Qiagen N.V. acquired Omicsoft Corporation to expand its bioinformatics portfolio. The acquisition will add Qiagen with additional features to manage, analyze, and share both primary data and analyzed results. Similarly, in July 2018, Arkray, Inc. partnered with Beckman Coulter, a company that manufactures biomedical testing devices, for launching the product, iQ Urinanalysis Workcell. It is a combination of products from both the companies and the commercialization of this product was done through Beckman Coulter.
An increasing number of product approvals and product launches in North America are projected to bolster the market growth
North America holds a dominant position in the global in-vitro diagnostics market, and this can be attributed to rising product approvals by regulatory authorities. For instance, in 2016, Abbott Laboratories’ ZIKA molecular diagnostics test received Emergency Use Authorization from the U.S. Food and Drug Administration (FDA). Furthermore, in 2017, bioMérieux, an in-vitro diagnostics manufacturer, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for VITEK MS, its MALDI-TOF1 mass spectrometry system for rapid pathogen identification, and for expanded identification of mycobacteria, Nocardia, and molds.
Growing product launches in the region are the major factor projected to propel the market growth. For instance, in May 2018, Abbott Laboratories launched its Afinion 2 analyzer in the U.S., the newest generation of the Afinion test system. The Afinion 2 analyzer is a compact rapid, a multi-assay platform that streamlines and simplifies the delivery of actionable, accurate measurements of hemoglobin A1C (HbA1c), and albumin to creatinine ratio (ACR) results at the point of care.
Figure 2. Global In-Vitro Diagnostics Market Share (%), by Application, 2018 and 2026
Source: Coherent Market Insights Analysis (2019)
Moreover, growing support from regulatory authorities as well as other organizations is further expected to fuel the growth of the North America in-vitro diagnostics market over the forecast period. For instance, in 2017, the United Nations Children’s Fund (UNICEF) announced a request for a proposal for a sustained supply of Zika virus point-of-care diagnostics from 2017 through 2019.
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Key Players
Major players operating in the global in-vitro diagnostics market include Siemens Healthineers, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux S.A., Becton Dickinson, and Company, Danaher Corporation, Abbott Laboratories, F. Hoffmann-la Roche Ltd, QIAGEN N.V., Arkray, Inc., Nittobo Medical Co., Ltd., Medical & Biological Laboratories Co., Ltd., Miraca Holdings Inc., and Mizuho Medy Co., Ltd.
Detailed Segmentation:
- Global In-Vitro Diagnostics Market, By Product Type:
- Instruments
- Reagents & Kits
- Blocking Buffers
- Proteins
- Secondary Antibodies
- Substrates
- Others
- Global In-Vitro Diagnostics Market, By Technology:
- Immunoassay
- Clinical Chemistry
- Molecular Diagnostics
- Microbiology
- Hematology
- Coagulation & Hemostasis
- Urinalysis
- Others
- Global In-Vitro Diagnostics Market, By Application:
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Disorders
- Others
- Global In-Vitro Diagnostics Market, By End User:
- Hospital
- Pathology Laboratories
- Point-of-Care Diagnostics
- Research Institutes
- Others
- Global In-Vitro Diagnostics Market, By Region:
- North America
- By Product Type:
- Instruments
- Reagents & Kits
- Blocking Buffers
- Proteins
- Secondary Antibodies
- Substrates
- Others
- By Technology:
- Immunoassay
- Clinical Chemistry
- Molecular Diagnostics
- Microbiology
- Hematology
- Coagulation & Hemostasis
- Urinalysis
- Others
- By Application:
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Disorders
- Others
- By End User:
- Hospital
- Pathology Laboratories
- Point-of-Care Diagnostics
- Research Institutes
- Others
- By Country:
- U.S.
- Canada
- By Product Type:
- Latin America
- By Product Type:
- By Technology:
- By Application:
- By End User:
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Product Type:
- By Technology:
- By Application:
- By End User:
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type:
- By Technology:
- By Application:
- By End User:
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Product Type:
- By Technology:
- By Application:
- By End User:
- By Country/Region:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type:
- By Technology:
- By Application:
- By End User:
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- North America
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