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 experiencing significant growth, particularly in the areas of cancer, cardiovascular diseases (CVD), and infectious kidney diseases, due to the increasing demand for advanced testing solutions. Immunoassay and molecular diagnostic devices are driving this trend, enabling healthcare providers to manage and test for these conditions with high accuracy. Furthermore, the availability of advanced treatment options is fueling increased adoption rates. For instance, the Xprecia Stride Coagulation Analyzer by Siemens is a handheld device that performs PT/INR tests with exceptional precision. While routine diagnostic testing remains the largest segment, the market for specialty testing in esoteric, pathology, and genetic areas is projected to outpace growth. As a result, laboratories are increasingly opting for bulk purchases from trusted partners to streamline their operations and reduce costs, rather than buying 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 various diagnostic tools and techniques, including liquid biopsy, point-of-care devices, and rapid diagnostic testing. These technologies cater to chronic diseases, preventive care testing, and infectious diseases in both developed and emerging economies. Reimbursement scenarios, regulatory guidelines, and budget constraints influence market growth. Oncology, molecular diagnostics, and reference laboratories are key segments. Techniques like bodily fluids and tissue sampling in a laboratory environment require specialized equipment. Economic downturns and recessions may impact healthcare spending, but the demand for personalized medicines and rapid tests remains robust in the face of disease diagnosis.

Market Research Overview

The In-Vitro Diagnostics (IVD) market is a significant segment of the larger, global life science tools and services market. This market encompasses companies and products involved in research and development (R&D) of diagnostic tools, including liquid biopsy technologies, point-of-care devices, and consumables. The market's growth is driven by several factors, including the increasing aging population in emerging markets, rising healthcare spending, and the growing preference for advanced diagnostic solutions. Technavio projects the global life science tools and services market to expand due to these factors, with significant revenue contributions from IVD manufacturers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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