The in-vitro diagnostics instruments market share is forecast to reach USD 48.3 billion, after growing at a CAGR of 9.18% during 2022-2027. The growing geriatric population is analyzed to boost the in-vitro diagnostics instruments market growth. Moreover, potential opportunities for physician office laboratories (POLs) are the major trend enhancing the overall market demand for in-vitro diagnostics instruments during the forecast period.
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Browse Technavio's 180-page report and in-depth TOC on "In-vitro Diagnostics Instruments Market by product (immunochemistry, clinical microbiology, molecular diagnostics, and others), end-user (hospitals and diagnostic laboratories, academic and research institutes, and home care), and geography (North America, Europe, Asia, and Rest of World (ROW).
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Immunochemistry: The market share growth by the immunochemistry segment will be significant during the forecast period.
North America: North America is projected to contribute 35% by 2027. The IVD instruments market in North America is witnessing significant growth, primarily because of the growing ageing population as well as the high prevalence of chronic and infectious diseases.
Rest of World (ROW)
Hospitals and diagnostic laboratories
Academic and research institutes
The in-vitro diagnostics instruments market size will witness a YOY Growth Rate of 7.9% in 2023.
The limited laboratory budgets and declining reimbursements that affect instrument sales will be a major challenge for the in-vitro diagnostics instruments market during the forecast period.
Major key in-vitro diagnostics instruments market players include: Abbott Laboratories, Beijing Leadman Biochemistry Technology Co. Ltd., bioMerieux SA, Biosino Bio Technology and Science Inc., CPC Diagnostics Pvt Ltd., DAAN Gene Co. Ltd., Danaher Corp., F. Hoffmann La Roche Ltd., Guangzhou Wondfo Biotech Co. Ltd., Myriad Genetics Inc., Ortho Clinical Diagnostics, Shanghai Kehua Bio-Engineering Co. Ltd., Shenzhen Mindray BioMedical Electronics, Siemens AG, and Thermo Fisher Scientific Inc.
The report illustrates the lifecycle of the market, focusing on the adoption rates of the major regions such as the North America, Europe, Asia, and Rest of World (ROW).
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the in-vitro diagnostics instruments market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the in-vitro diagnostics instruments market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the in-vitro diagnostics instruments market.
In-vitro diagnostics instruments industry growth across North America, Europe, Asia, and Rest of World (ROW).