Authored By: Sarah
03 Mar 2023

Medical Diagnostics Market Size to Grow by USD 74.58 Billion at a CAGR of 6.15% Between 2022 and 2027

The medical diagnostics market share is forecast to reach USD USD 74.58 billion, after growing at a CAGR of 6.15% during 2023-2027. The high prevalence of infectious diseases is analyzed to boost the medical diagnostics market growth. Moreover, the global adoption of advanced diagnostic solutions is the major trend enhancing the overall market demand for medical diagnostics during the forecast period.   

Get a snapshot of the medical diagnostics market analysis: Unlock the Sample Report The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 151.64 Billion.

Browse Technavio's 171-page report and in-depth TOC on "Medical Diagnostics Market by type (IVD and diagnostic imaging), end-user (hospitals and clinics, diagnostic centers, research laboratories and institutes, and others), and geography (North America, Asia, Europe, and the Rest of the World (ROW)).

View detailed Table of Contents Here:

Medical Diagnostics Market Size to Grow by USD 74.58 Billion at a CAGR of 6.15% Between 2022 and 2027


  • IVD: The medical diagnostics market growth by the IVD segment will be significant during the forecast period.  The importance of the IVD segment is increasing because of the growing need for improved real-time diagnostic tools for the early diagnosis of communicable and chronic diseases.

  • Diagnostic imaging 


  • Asia: 38% of market growth will develop from Asia during the forecast period.

  • Europe 

  • North America

  • Rest of World (ROW) 


  • Hospitals and clinics 

  • Diagnostic centers 

  • Research laboratories and institutes 

Key Takeaways: 

  • The medical diagnostics market size will witness a YOY Growth Rate of 5.69% in 2023.  

  • The lack of trained laboratory technicians will be a major challenge for the medical diagnostics market during the forecast period. 

  • Major key medical diagnostics market players include: 3M Co., Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Charles River Laboratories, Danaher Corp., DiaSorin SpA, F. Hoffmann La Roche Ltd., General Electric Co., Hologic Inc., Medtronic Plc, QIAGEN NV, Quest Diagnostics Inc., Quidel Corp., Siemens AG, Sysmex Corp., 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, Asia, Europe, and the Rest of the World (ROW). 

Download the PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth. 

Key Data Covered in the Medical Diagnostics Market Report 

  • Precise market size estimation during the forecast period 2023-2027.  

  • CAGR of the medical diagnostics market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the medical diagnostics market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the growth of the medical diagnostics market.  

  • Medical diagnostics industry growth across North America, Asia, Europe, and the Rest of the World (ROW).

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