The In-Vitro Diagnostics Instruments Market is being driven by Growing geriatric population
The In-Vitro Diagnostics Instruments Market is expected to grow at a CAGR of 9.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 60.9 billion. In the global healthcare landscape, there is a lack of standardization and endorsement for the utilization of decentralized In-Vitro Diagnostic (IVD) testing in primary and outpatient care settings. This testing is increasingly being conducted in Point-of-Laboratories (POL), which offers several advantages, including improved patient outcomes and reduced turnaround times. However, the adoption of POL testing is contingent upon the support of various stakeholders, including patients, reimbursement entities, regulators, and administrators. The POL testing market encompasses segments related to actionable infectious disease markers, cardiovascular diseases, and diabetes care. The advancement of portable IVD instruments' technical capabilities has facilitated the use of molecular diagnostic instruments in POL practices. Moreover, many instruments traditionally employed in central laboratories now support POL testing, broadening the scope of in-house diagnostic capabilities for clinicians. In summary, the global healthcare industry is witnessing a shift towards decentralized IVD testing in primary and outpatient care settings. This transition is driven by the advantages of POL testing, including improved patient outcomes, reduced turnaround times, and the technical advancements of portable IVD instruments. However, the success of this trend relies on the support and collaboration of various stakeholders, including patients, reimbursement entities, regulators, and administrators. The POL testing market includes segments related to infectious disease markers, cardiovascular diseases, and diabetes care, with molecular diagnostic instruments playing a significant role in this evolution.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
241 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.8% |
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Market growth 2025-2029 |
USD 60.9 billion |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
8.7 |
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Key countries |
US, Germany, China, Canada, UK, Mexico, Japan, India, Brazil, France, US, Germany, China, Canada, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The In-Vitro Diagnostics Instruments Market encompasses a range of technologies including immunochromatographic assays and lateral flow assays for rapid point-of-care testing, automated immunoassay systems for large-scale laboratory testing, real-time and digital PCR for genetic analysis, microarray technology and next-generation sequencing platforms for genomic testing, and multiplex assays for simultaneous detection of multiple biomarkers. Additionally, the market includes quantitative and qualitative PCR for viral load and presence determination, serological testing and viral resistance testing for infectious diseases, tissue diagnostics through in-situ hybridization and biopsy analysis, pathology informatics, automated microscopy and image analysis for histopathology, data interpretation and clinical decision support for enhanced diagnostic accuracy, laboratory informatics for efficient workflow management, specimen management and sample tracking for improved test turnaround time, and reference laboratories, centralized testing, decentralized testing, personalized diagnostics, and predictive diagnostics for customized patient care.
The In-Vitro Diagnostics Instruments Market is a significant segment of the global healthcare equipment industry, encompassing molecular diagnostics, clinical chemistry analyzers, hematology analyzers, microbiology analyzers, blood gas analyzers, and point-of-care testing. According to Technavio, this market is a crucial component of the larger global healthcare equipment market, which comprises manufacturers of capital equipment, instruments, implants, accessories, and consumables used for disease diagnosis, monitoring, and treatment. The healthcare equipment industry's size is determined by Technavio based on the combined revenue generated by these manufacturers across various therapy areas. This market includes advanced, differentiated, and clinically tested devices that contribute to the industry's ongoing research and development efforts.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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