In-Vitro Diagnostics Market Size, Share, Growth, Emerging Trends, Major Players and Industry Outlook

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the global in-vitro diagnostics market and other dependent submarkets, as mentioned below.

  • Key players in the global in-vitro diagnostics market were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included the study of the annual and quarterly financial reports & regulatory filings of significant market players as well as interviews with industry experts for detailed market insights.
  • All percentage shares, splits, and breakdowns for the global in-vitro diagnostics market were determined using secondary sources and verified through primary sources.
  • All key macro-indicators affecting the revenue growth of market segments and subsegments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
  • The gathered market data was consolidated and added to detailed inputs, analyzed, and presented in this report.

Expected Revenue Growth:

The In Vitro Diagnostics Market size is expected to be valued at USD 61.7 billion in 2020 and projected to reach USD 77.9 billion by 2025, growing at a CAGR of 4.8% during 2020-2025.

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Key Factors Driving Market Growth:

The demand for In-Vitro Diagnostic products due to COVID-19 pandemic is expected to grow mainly due to factors such as a sharp rise in market demand for PCR, NGS, serology based rapid-test products, the supportive regulatory landscape for product development & commercialization, and a sharp rise in target patient population. These factors have prompted market players to improve and strengthen their current manufacturing and distribution capabilities as well as to focus on product commercialization & upgrade.

Based on technology, the PCR segment is expected to hold the largest share of the market in 2020

Based on technology, the in-vitro diagnostics market is segmented into PCR, NGS, ELISA, Rapid-tests, clinical chemistry, hematology, hemostasis, urinalysis, microbiology testing, and others. The PCR segment is expected to hold the largest share of the global in-vitro diagnostics industry in 2020 – H1. Factors such as the increasing patient emphasis on effective and early patient screening, continued commercialization of novel COVID screening platforms by major players, early efforts of key players to address supply chain bottlenecks, and easy availability of controls & standards are driving the growth of this segment.

The US to account for the largest share of the in-vitro diagnostics industry in 2020

The US is expected to account for the largest share of the in-vitro diagnostics market in 2020, followed by Europe. This can primarily be attributed to the continuous commercialization of innovative diagnostic products coupled with ongoing advancements in the field of gene & immunoassay based products, the recent discovery of genetic biomarkers & their clinical role in immunoassay testing, supportive government policies & their emphasis on novel product development, and the significant expansion of target patient population.

As of 2019, some of the prominent players in the in-vitro diagnostics market are Roche Diagnostics (Switzerland), Abbott Laboratories (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Biomerieux (France), and QIAGEN (Germany), among others.

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Roche Diagnostics is the top player in the global in-vitro diagnostics market. Roche Diagnostics was the leading player in the IVD market. The company’s leading position in the IVD market is attributed to its diverse product portfolio across clinical chemistry, immunochemistry, molecular diagnostics, and tissue diagnostics products. The company also has a strong geographic presence across major healthcare markets in North America, Europe, Asia, as well as MEA, which enables it to cater to a large consumer base worldwide. To maintain its leadership position in the global IVD market, the company mainly focuses on product commercialization, developmental collaborations, and product distribution partnerships.

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