Latest News- In-Vitro Diagnostics (IVD) Market: Reagents and kits is expected to lead the Product Type segment during 2025-2029

The In-Vitro Diagnostics (IVD) Market is being driven by Increasing geriatric population, chronic and infectious diseases

The In-Vitro Diagnostics (IVD) Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 28.8 billion. The in-vitro diagnostics (IVD) market is witnessing significant growth, particularly in the areas of cancer, cardiovascular diseases (CVD), and infectious kidney diseases, driven by the increasing adoption of advanced immunoassay and molecular diagnostic devices. Healthcare providers are embracing these technologies to deliver precise and timely diagnoses, enabling better treatment outcomes. One such innovation is Siemens' Xprecia Stride Coagulation Analyzer, a handheld device offering high-accuracy PT/INR tests. Meanwhile, the specialty testing segment, including esoteric, pathology, and genetic testing, is projected to outpace the overall market growth. As laboratories prioritize cost-effective solutions, they are increasingly opting for bulk purchases from trusted partners rather than individual analyzers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Reagents and kits
  • Instruments
  • Others
• Technology
  • Immunoassay
  • Molecular diagnostics
  • Clinical chemistry
  • Hematology
  • Others
• Application
  • Oncology
  • Cardiology
  • Autoimmune diseases
  • Neurology
  • Others
• End-user
  • Hospitals and clinics
  • Research institutes
  • Diagnostics laboratories
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing geriatric population, chronic and infectious diseases
• Demand for personalized medicine
• New product launches

However, the market also witnesses some limitations, which are as follows:

• Stringent regulatory bodies guiding in-vitro diagnostics manufacturers
• Lack of skilled professionals
• Inadequate reimbursements

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Market Scope in In-Vitro Diagnostics (IVD) Market Research Report

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Research Analysis Overview

The In-Vitro Diagnostics (IVD) Market encompasses a range of technologies and tools for the detection, diagnosis, and monitoring of various diseases and conditions. These include diagnostic kits, assay systems, lateral flow assays, ELISA tests, PCR tests, chromatographic techniques, flow cytometry, mass spectrometry, biochip technology, microfluidic devices, antibody development, diagnostic algorithms, decision support systems, specimen collection, sample handling, specimen transport, automated sample processing, data management systems, predictive analytics, precision diagnostics, liquid biopsies, early detection, disease surveillance, public health, global health, emerging infectious diseases, antimicrobial resistance, diagnostic accuracy, quality assurance, validation studies, clinical utility, cost-benefit analysis, economic impact, healthcare policy, and ethical considerations. These advancements in IVD contribute to improved patient outcomes, enhanced disease management, and better population health.

Market Research Overview

The global life sciences tools and services market encompasses organizations involved in the research and development (R&D) of a diverse range of product categories, including capital equipment, instruments, accessories, and consumables. These tools and services are utilized in the pharmaceutical and biotechnology industries for product development and laboratory diagnosis of various diseases. The market size is determined by the consolidated revenue generated by manufacturers of life science equipment, supplies, pharmaceuticals, biotechnology, and related services. Key growth drivers for this market include the increasing global population aging, leading to a larger demographic requiring healthcare solutions, and the subsequent demand for advanced diagnostic technologies. Specifically, sectors such as Molecular Diagnostics, Serological Tests, Point-of-Care Testing, and Diagnostic Imaging are poised for significant growth due to their ability to provide accurate, timely, and cost-effective diagnostic solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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