In-Vitro Diagnostics Technology and Global Market Report 2025-2029: Rise in Home Care Testing Devices, Demand for POC Testing Units, and Growing Demand for AI & IoT
The "In Vitro Diagnostics: Technologies and Global Markets" report has been recently added to ResearchAndMarkets.com's offerings. In 2024, the In Vitro Diagnostics Market was valued at USD 94.7 billion. Forecasts suggest it will reach USD 141.9 billion by 2029, with a projected CAGR of 8.40%.
Introduction
Dublin, March 19, 2025 (GLOBE NEWSWIRE) -- The "In Vitro Diagnostics: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering. The In Vitro Diagnostics Market was valued at USD 94.7 billion in 2024, and is expected to reach USD 141.9 billion by 2029, rising at a CAGR of 8.40%.
Market Overview
This report covers the in vitro diagnostic (IVD) technologies as well as in vitro diagnostic devices used in hospitals and point-of-care (POC) facilities to diagnose diseases. It also details the current and future market potential of in vitro diagnostic technology and includes an analysis of this market's competitive environment.
Market Trends
The immunochemistry segment was valued at $31.1 billion in 2023 and is estimated to grow at 5.5% CAGR during the forecast period. Factors such as the growth of the use of diagnosis procedures in clinics and the rise in demand for technologies to analyze blood samples for infections and disorders are contributing to this growth.
Significance of IVDs
In-vitro diagnostics (IVD) are of significant value in the global healthcare industry, being the highest revenue segment of the medical device market. IVDs are used in diagnosing infectious and chronic diseases, preventive care, and drug therapy monitoring, providing essential tools for medical diagnoses and decision-making.
Global Market Trends
One of the significant market trends in 2020 was the impact of the COVID-19 pandemic, which led to the development and approval of tests for the virus, overwhelming other market trends. The market is driven by factors such as the aging demographics in developed countries, increasing healthcare infrastructure in developing nations, and the shift towards preventive healthcare.
Market Segmentation
The market is segmented by technology, application, end user, and region. Technologies such as immunochemistry, POC testing, hematology, and molecular diagnostics play a significant role in the market. Applications include diabetes, oncology, cardiology, and infectious diseases. End users range from diagnostic laboratories to hospitals and clinics, with a geographical breakdown of regions.
Competitive Intelligence
The report includes an analysis of the competitive landscape, market shares of key companies, product portfolios, and financial overviews. Profiles of leading companies, including F. Hoffmann-La Roche Ltd., Abbott, Sysmex Corp., Danaher, BD, and Siemens Healthineers AG, are provided.
Sustainability in the IVD Industry
The report also discusses the importance of Environmental, Social, and Governance (ESG) practices in the in vitro diagnostics industry, company roles in ESG development, and ESG risk ratings.
HONESTAI ANALYSIS
With rapid technological developments and emerging segments such as companion diagnostics and next-generation sequencing, the IVD market is expected to witness substantial growth in the coming years, driven by various factors influencing the global healthcare landscape.