In-Vitro Diagnostics Technology and Global Market Report – GlobeNewswire

March 19, 2025 08:08 ET  | Source: Research and Markets Research and Markets
Dublin, March 19, 2025 (GLOBE NEWSWIRE) — The “In Vitro Diagnostics: Technologies and Global Markets” report has been added to ResearchAndMarkets.com’s offering.

The In Vitro Diagnostics Market was valued at USD 94.7 billion in 2024, and is expected to reach USD 141.9 billion by 2029, rising at a CAGR of 8.40%.
This report covers the in vitro diagnostic (IVD) technologies as well as in vitro diagnostic devices used in hospitals and point-of-care (POC) facilities to diagnose diseases. It also details the current and future market potential of in vitro diagnostic technology and includes an analysis of this market’s competitive environment. The report covers market drivers, restraints, opportunities, product approvals, regulatory scenario assessments and emerging technologies. It features market projections and estimates of the market shares of key players through 2029.

The immunochemistry segment was valued at $31.1 billion in 2023 and is estimated to grow at 5.5% CAGR during the forecast period. This segment’s market share of 35.5% in 2023 and its medium growth rate are attributed to factors such as the growth of the use of diagnosis procedures in clinics and the rise in demand for technologies to analyze blood samples for infections and disorders. The increase in virus or bacterial infection rates among different age groups has also increased the demand for immunochemistry procedures.
In-vitro diagnostics (IVD), of the utmost importance in the global healthcare industry, are the highest revenue segment of the medical device market, valued in the multi-billion-dollar range. IVD includes analyzers, reagents, disposable and reusable products, and accessory software products used by both clinical and research laboratories around the world. IVDs range from simple self-use tests to state-of-the-art genomic tests performed in laboratories and can be used in the diagnosis of infectious and chronic diseases, as well as for preventive care and drug therapy monitoring.
IVDs are of significant value to the general public, as they are deemed not only as indispensable tools of medical diagnoses but also as decision-making aids for disease prevention and timely treatment to enhance well-being and keep healthcare costs under check. In addition, IVDs are also one of the vital aids that address the needs of governments, payers and patients by delivering optimal, individualized and affordable treatments.
These factors and rapid technological developments should drive the growth of the IVD market in the next five years. The market is also expected to be driven by the aging demographics of the developed world, the rising demand and improving healthcare infrastructure in the developing world and, most importantly, the shift from curative to preventive healthcare for both infectious and chronic diseases such as diabetes. Further, two emerging segments of IVDs companion diagnostics and next-generation sequencing techniques – are expected to contribute to the market growth of IVDs through the decade.
Global Market Trends
The most significant market trend during 2020 was the origin and global spread of COVID-19, the disease caused by the novel coronavirus. Originating in late 2019 in China, the virus quickly became a global pandemic. Global health organizations and diagnostic manufacturers quickly developed and approved tests for the virus. This effort overwhelmed all other trends in 2020. One effect of this activity was a complete halt of merger and acquisition activity among major diagnostic manufacturers in 2020.
Because of its large population and its position as a medical technology innovation hub, North America is the global leader in terms of IVD utilization. It remains the largest market. The emerging markets of India, China, Russia and Brazil are poised to grow at double-digit growth rates due to rising incomes, growing healthcare budgets and heightened health awareness among the population.
The report includes:
Key Attributes:

Key Topics Covered:

Chapter 1 Executive Summary
Chapter 2 Market and Technology Background
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies and Developments
Chapter 5 Market Segmentation Analysis
Chapter 6 Competitive Intelligence
Chapter 7 Sustainability in the In Vitro Diagnostics Industry: An ESG Perspective
Chapter 8 Appendix
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/3y7zds
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