With More than USD 3 trillion Investment Opportunities Across Healthcare Services in North America Alone, the In-Vitro Diagnostics Market is Witnessing Huge Growth in North America.
CHICAGO, Jan. 19, 2023 /PRNewswire/ -- According to Arizton's latest research report, the in-vitro diagnostics market will grow at a CAGR of 3.3% from 2022-2028. In recent years, IVD diagnostics has been one of the biggest industries that observed several product launches. The increasing demand for new diagnostics tests forced the development of new solutions. Currently, the IVD players are operating in a world that designs, develops, manufactures, and sells best-in-class solutions. COVID-19 is one of the best periods where several companies have come forward to develop rapid test kits to detect coronavirus. The leading market players are competing with rapidly emerging players in the market. Vendors in the market are increasing their share through inorganic growth. There is a constant product launch, helping the vendors acquire new customers in the market. In-Vitro Diagnostics Market
In 2022, North America accounted for the largest share of 40% of the global IVD market. The patient population with high healthcare expenditure is the major factor driving the in-vitro diagnostics market across North America. In addition, awareness about disease diagnosis, such as point-of-care, early detection, and preventive health check-ups, are some factors that positively impact the region's market growth. More than 60% to 80% of the regional population have any chronic condition, which led to demand for diagnostics services. The expenditure for healthcare services in the region is more than $3 trillion, indicating the potential growth of in-vitro diagnostics in the region. Moreover, the presence of market players and their market penetration in the region fuel access to IVD services.
The POC diagnostics market is growing faster than the traditional IVD industry. Over the few years, there has been a constant increase in the number of approved POC devices. In Canada's healthcare services, one of the emerging factors is point-of-care which is expected to drive the market in the future. The Canadian Standard Association has developed requirements that apply to POC (CAN.CSA-Z22870-07). The demand for POC for infectious diseases is increasing and becoming an important part of healthcare systems. In cancer and infectious disease diagnosis, point-of-care IVD solutions are commonly used. Global In-Vitro Diagnostics Market Report Scope
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Reagent & Consumables Market to Boom the Adoption Rate of In-Vitro Diagnostics Market
Faster adoption of concentrated reagents has enhanced vendors' competitiveness by improving customer satisfaction and reducing CO2 emissions and waste by decreasing the number of reagent shipments.
The global in-vitro diagnostics market by reagents & consumables has been growing rapidly in recent years. The COVID-19 pandemic has significantly boosted demand for reagents used in IVD procedures to run the COVID-19 sample for diagnosis. With the increasing demand for disease diagnosis and the rising number of clinical and research laboratories, the demand for IVD reagents is significantly increasing. Innovation in consumables, especially reagents, is low compared to analyzers. Some companies do come up with new types of reagents for unique products. For instance, Sysmex, a Japanese company, developed a concentrated reagent for hematology analyzers. These concentrated reagents are gaining traction in the market, especially in developed countries. This is helping the company to gain market share. In the global IVD market, manufacturers played a vital role in enabling countries to broaden their COVID-19 testing capacity- certainly, molecular testing instruments usually dedicated to tuberculosis and HIV programs constitute major opportunities to be repurposed for COVID-19 response. The COVID-19 pandemic has highlighted the importance of IVD solutions. According to "under Emergency Use Authorization" in the US and "under the in-vitro Diagnostics Directive" (IVDD) in Europe, the preference for self-testing solutions increased significantly, thus driving the market growth through rapid COVID-19 test kits. Several COVID-19 self-test kits were developed to drive the companies' revenue growth. Click Here to Download the Free Sample Report
Nanjing Synthgene Medical Technology
SHENZHEN PROKAN ELECTRONICS
Shenzhen Landwind Medical
Xiamen Biotime Biotechnology
Instruments/ Analyzers & Software
Immuno and Clinical Chemistry
Microbiology and Cytology
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HIV Rapid Test Kits Market - Global Outlook & Forecast 2023-2028: The global HIV rapid test kits market is expected to reach USD 1.68 billion by 2028. In the U.S., HIV testing is vital and integral to HIV prevention and management. The knowledge about HIV infection is increasing rapidly in the country, accelerating the high demand for HIV self-testing. In recent years, the significant patient population in the country has gone through routine medical check-ups, which includes HIV test. It increases the knowledge about HIV testing and care in the country and propels the market growth. IVD Raw Materials Market - Global Outlook & Forecast 2022-2027: IVD raw materials market is expected to reach USD 34.25 billion by 2027. The Europe region is one of the matured markets for in-vitro diagnostics; the large laboratory instruments are highly automated compared to most point-of-care testing devices. Automation has increased the speed and ease of using the devices the workforce is thoroughly trained and adopted. Furthermore, the global IVD raw materials market is expected to witness an incremental growth of USD 9.91 billion and absolute growth of 40.73% by 2027.
COVID-19 Diagnostics Market - Global Outlook and Forecast 2021-2026: The global COVID-19 diagnostics market is expected to reach USD 7.4 billion by 2026. The RT-PCR testing segment constituted over 75% of the global COVID test market share. The market is growing because of the coronavirus (SARS CoV-2) pandemic outbreak, which has increased the demand for rapid testing worldwide. As the number of people suffering from viral infection increases, the demand for rapid testing, which allows quick detection of the virus, is growing. Adopting a population-wide testing approach, which includes household, and individual testing is one of the trends influencing the demand for covid-19 diagnostics kits. The shift from symptomatic testing to mass testing in developed countries is another major factor affecting the market. Rapid Diagnostics Market - Global Outlook and Forecast 2020-2025: The global rapid diagnostics market size is to cross USD 43 billion by 2025. Abbott, F.Hoffman-La Roche, and Siemens Healthineers are the key players in the rapid diagnostics market. Global players focus on developing innovative products and expanding their product portfolio to remain competitive. They are investing extensively in R&D and product development activities to expand their product portfolio. Abbott, F. Hoffmann-La Roche, Danaher, Quidel, Luminex, and BD continuously focus on product development and offer new diagnostics technology to increase their market presence. 4.1.3 MARKET ESTIMATION CAVEATS
4.3.1 MARKET BY PRODUCT & SERVICES:
4.3.2 MARKET BY TECHNOLOGY
4.3.3 MARKET BY APPLICATION
4.3.4 MARKET BY END-USERS
4.3.5 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
9 MARKET OPPORTUNITIES & TRENDS
9.1 ADVANCES IN MOLECULAR DIAGNOSTICS TRANSFORMING THE FUTURE OF HEALTHCARE
9.2 INCREASED DEMAND FOR COMPANION DIAGNOSTICS IN IVD
9.3 INCREASING PRODUCT LAUNCHES & MERGERS & ACQUISITIONS IN IVD
10 MARKET GROWTH ENABLERS
10.1 PRESENCE OF A SIGNIFICANT PATIENT POPULATION
10.2 ADOPTION OF ADVANCED TECHNOLOGIES IN IVD
11.1 STRINGENT REGULATIONS AND ASSOCIATED CHALLENGES
11.3 LACK OF ACCESS TO DIAGNOSTIC SERVICES AND ASSOCIATED CHALLENGES
12.1.1 INSIGHT BY PRODUCT & SERVICES
12.1.2 INSIGHT BY TECHNOLOGY
12.1.3 INSIGHT BY APPLICATION
12.1.4 INSIGHT BY END-USERS
12.1.5 INSIGHT BY GEOGRAPHY
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.3 REAGENTS AND CONSUMABLES
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 INSTRUMENTS/ANALYZERS & SOFTWARE
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY GEOGRAPHY
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.3 IMMUNO & CLINICAL CHEMISTRY
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 MOLECULAR DIAGNOSTICS
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
14.6 MICROBIOLOGY & CYTOLOGY
14.6.2 MARKET SIZE & FORECAST
14.6.3 MARKET BY GEOGRAPHY
14.7.2 MARKET SIZE & FORECAST
14.7.3 MARKET BY GEOGRAPHY
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY GEOGRAPHY
15.6.2 MARKET SIZE & FORECAST
15.6.3 MARKET BY GEOGRAPHY
15.7.2 MARKET SIZE & FORECAST
15.7.3 MARKET BY GEOGRAPHY
15.8.2 MARKET SIZE & FORECAST
15.8.3 MARKET BY GEOGRAPHY
15.9.2 MARKET SIZE & FORECAST
15.9.3 MARKET BY GEOGRAPHY
15.10.2 MARKET SIZE & FORECAST
15.10.3 MARKET BY GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.3 STANDARD REFERENCE LABS
16.3.2 MARKET SIZE & FORECAST
16.3.3 MARKET BY GEOGRAPHY
16.4 HOSPITAL-AFFILIATED LABS
16.4.2 MARKET SIZE & FORECAST
16.4.3 MARKET BY GEOGRAPHY
16.5.2 MARKET SIZE & FORECAST
16.5.3 MARKET BY GEOGRAPHY
16.6.2 MARKET SIZE & FORECAST
16.6.3 MARKET BY GEOGRAPHY
16.7.2 MARKET SIZE & FORECAST
16.7.3 MARKET BY GEOGRAPHY
17.1 MARKET SNAPSHOT & GROWTH ENGINE
18.2 MARKET SIZE & FORECAST
18.3.1 MARKET SIZE & FORECAST
18.4.1 MARKET SIZE & FORECAST
18.5.1 MARKET SIZE & FORECAST
18.6.1 MARKET SIZE & FORECAST
18.7.1 US: MARKET SIZE & FORECAST
18.7.2 CANADA: MARKET SIZE & FORECAST
19.2 MARKET SIZE & FORECAST
19.3.1 MARKET SIZE & FORECAST
19.4.1 MARKET SIZE & FORECAST
19.5.1 MARKET SIZE & FORECAST
19.6.1 MARKET SIZE & FORECAST
19.7.1 GERMANY: MARKET SIZE & FORECAST 19.7.2 FRANCE: MARKET SIZE & FORECAST
19.7.3 RUSSIA: MARKET SIZE & FORECAST
19.7.4 SPAIN: MARKET SIZE & FORECAST
19.7.5 ITALY: MARKET SIZE & FORECAST 19.7.6 UK: MARKET SIZE & FORECAST
20.2 MARKET SIZE & FORECAST
20.3.1 MARKET SIZE & FORECAST
20.4.1 MARKET SIZE & FORECAST
20.5.1 MARKET SIZE & FORECAST
20.6.1 MARKET SIZE & FORECAST
20.7.1 CHINA: MARKET SIZE & FORECAST
20.7.2 JAPAN: MARKET SIZE & FORECAST
20.7.3 INDIA: MARKET SIZE & FORECAST 20.7.4 SOUTH KOREA: MARKET SIZE & FORECAST
20.7.5 AUSTRALIA: MARKET SIZE & FORECAST
20.7.6 INDONESIA: MARKET SIZE & FORECAST
20.7.7 MALAYSIA MARKET SIZE & FORECAST
20.7.8 SINGAPORE MARKET SIZE & FORECAST
21.2 MARKET SIZE & FORECAST
21.3.1 MARKET SIZE & FORECAST
21.4.1 MARKET SIZE & FORECAST
21.5.1 MARKET SIZE & FORECAST
21.6.1 MARKET SIZE & FORECAST
21.7.1 BRAZIL: MARKET SIZE & FORECAST
21.7.2 MEXICO: MARKET SIZE & FORECAST
21.7.3 ARGENTINA: MARKET SIZE & FORECAST
22.2 MARKET SIZE & FORECAST
22.3.1 MARKET SIZE & FORECAST
22.4.1 MARKET SIZE & FORECAST
22.5.1 MARKET SIZE & FORECAST
22.6.1 MARKET SIZE & FORECAST
22.7.1 TURKEY: MARKET SIZE & FORECAST
22.7.2 SAUDI ARABIA: MARKET SIZE & FORECAST
22.7.3 SOUTH AFRICA: MARKET SIZE & FORECAST
23.1 COMPETITION OVERVIEW
23.2 MARKET SHARE ANALYSIS
23.2.3 F. HOFFMANN-LA ROCHE
23.2.4 SIEMENS HEALTHINEERS
23.2.5 THERMO FISHER SCIENTIFIC
24.3 F. HOFFMANN-LA ROCHE
24.4 SIEMENS HEALTHINEERS
24.5 THERMO FISHER SCIENTIFIC
25 OTHER PROMINENT VENDORS
25.2 ACCELERATE DIAGNOSTICS
25.3 AGILENT TECHNOLOGIES
25.10 BIO-RAD LABORATORIES
25.14 BIOLYTICAL LABORATORIES
25.21 BIOWAY BIOLOGICAL TECHNOLOGY
25.25 CHEMBIO DIAGNOSTICS
25.27 CONTEC MEDICAL SYSTEMS
25.28 CONVERGENT TECHNOLOGIES
25.38 DRUCKER DIAGNOSTICS
25.40 EKF DIAGNOSTICS HOLDING
25.52 KILPEST INDIA LIMITED
25.53 MACCURA BIOTECHNOLOGY
25.54 MEDSOURCE OZONE BIOMEDICALS
25.55 MERIL LIFE SCIENCES
25.57 NANJING SYNTHGENE MEDICAL TECHNOLOGY
25.61 ORTHO CLINICAL DIAGNOSTICS
25.62 OPKO HEALTH (BIOREFERENCE HEALTH)
25.63 ORASURE TECHNOLOGIES
25.65 PRESTIGE DIAGNOSTICS
25.70 SEASUN BIOMATERIALS
25.71 SEKISUI DIAGNOSTICS
25.73 SHENZHEN DYMIND BIOTECHNOLOGY
25.74 SHENZHEN ICUBIO BIOMEDICAL TECHNOLOGY
25.75 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS
25.76 SHENZHEN PROKAN ELECTRONICS
25.77 SHENZHEN LANDWIND MEDICAL
25.80 SURESCREEN DIAGNOSTICS
25.81 THE BINDING SITE GROUP
25.83 TRIVITRON HEALTHCARE
25.84 XIAMEN BIOTIME BIOTECHNOLOGY
25.85 ZHEJIANG ORIENT GENE BIOTECH
26.2 STRATEGIC RECOMMENDATIONS
27.2 MARKET BY PRODUCT & SERVICES
27.3 MARKET BY TECHNOLOGY
27.4 MARKET BY APPLICATION
27.6 PRODUCT & SERVICES: MARKET BY GEOGRAPHY
27.6.1 REAGENTS & CONSUMABLES: MARKET BY GEOGRAPHY
27.6.2 INSTRUMENTS/ANALYZERS & SOFTWARE: MARKET BY GEOGRAPHY
27.6.3 SERVICES: MARKET BY GEOGRAPHY
27.7 TECHNOLOGY: MARKET BY GEOGRAPHY
27.7.1 IMMUNO & CLINICAL CHEMISTRY: MARKET BY GEOGRAPHY
27.7.2 MOLECULAR DIAGNOSTICS: MARKET BY GEOGRAPHY
27.7.3 HEMATOLOGY: MARKET BY GEOGRAPHY
27.7.4 MICROBIOLOGY & CYTOLOGY: MARKET BY GEOGRAPHY
27.7.5 OTHER TECHNOLOGIES: MARKET BY GEOGRAPHY
27.8 APPLICATION: MARKET BY GEOGRAPHY
27.8.1 INFECTIOUS DISEASES: MARKET BY GEOGRAPHY
27.8.3 CARDIOLOGY: MARKET BY GEOGRAPHY
27.8.6 NEPHROLOGY: MARKET BY GEOGRAPHY
27.8.7 DRUG TESTING: MARKET BY GEOGRAPHY
27.8.8 OTHER APPLICATIONS: MARKET BY GEOGRAPHY
27.9 END-USERS: MARKET BY GEOGRAPHY
27.9.1 STANDARD REFERENCE LABS: MARKET BY GEOGRAPHY
27.9.2 HOSPITAL AFFILIATED LABS: MARKET BY GEOGRAPHY
27.9.3 INDIVIDUALS: MARKET BY GEOGRAPHY
27.9.4 CLINICS: MARKET BY GEOGRAPHY
27.9.5 OTHER END-USERS: MARKET BY GEOGRAPHY
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