"In vitro diagnostics (IVD) refers to tests performed outside the body to detect diseases, monitor health, or guide treatments. These technologies are revolutionizing global healthcare by enabling early diagnosis, personalized medicine, and improved patient outcomes."
BOSTON, May 1, 2025 -- According to the latest study from BCC Research, In Vitro Diagnostics: Technologies and Global Markets is projected to grow from $94.7 billion in 2024 to $141.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 8.4% during the forecast period of 2024 to 2029.Boston: According to the latest study from BCC Research, In Vitro Diagnostics: Technologies and Global Markets is projected to grow from $94.7 billion in 2024 to $141.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 8.4% during the forecast period of 2024 to 2029.
This report analyzes in vitro diagnostic (IVD) technologies and devices used in hospitals and point-of-care (POC) settings, focusing on market trends, drivers, opportunities, and competitive intelligence. It segments the market by technology, application, end user, and region, with forecasts through 2029.
Interesting facts:
- Artificial Intelligence (AI) has revolutionized the healthcare industry. The report explores how companies are integrating AI into IVD devices.
- POC testing is increasingly used over traditional hospital and clinic-based diagnostics, with demand surging post-pandemic.
- Haematology remains a widely practiced test type compared to diagnostic microbiology, driven by a global rise in blood-related disorders.
Factors contributing to the market's growth include:
- Rise in the population of older adults and dependency on frequent diagnosis procedures: The growing number of older adults is increasing the need for frequent diagnostic procedures to manage age-related health conditions. This trend is driving demand for advanced and accessible diagnostic solutions.
- Integration of artificial intelligence in IVD: AI is being integrated into in vitro diagnostics to improve the accuracy and speed of disease detection. This technology helps provide more personalized and efficient healthcare solutions.
- Rising incidence of chronic diseases: The rising incidence of chronic diseases, such as diabetes and heart conditions, is increasing the need for ongoing monitoring and diagnostic tests. This trend is fueling the demand for advanced diagnostic technologies.
- Improving the quality of POC testing: This is making health diagnostics faster, more accurate, and easily accessible, especially in remote or urgent care settings.
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Report Synopsis
Report Metric | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Base year market size | $87.8 billion |
Market size forecast | $141.9 billion |
Growth rate | CAGR of 8.4% for the forecast period of 2024-2029 |
Segments covered | Technology, product, application, end user, region |
Regions covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
Countries covered | U.S., Canada, Mexico, China, Japan, India, Australia and New Zealand, Germany, Italy, France, U.K., Spain, Brazil, Argentina, and South Africa |
Market drivers | • Rise in the population of older adults and dependency on frequent diagnosis procedures. • Integration of AI in IVD. • Rising incidence of chronic diseases. • Improving the quality of point-of-care testing. |
Questions Addressed:
- What is the projected market size and growth rate?
The market is projected to grow from $87.8 billion in 2023 to $141.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 8.4% during the forecast period. - What are the factors driving the growth of the market?
Rise in the aging population and dependency on frequent diagnosis procedures, Integration of AI in IVD, rising incidence of chronic diseases and improving the quality of POC testing. - What market segments are covered in the report?
The market is segmented by technology, application and end user. - Which technology segment will be dominant over the forecast period?
The haematology segment is anticipated to dominate the market through the end of 2029. - Which region has the largest market share?
North America holds the largest market share.
Market leaders include:
- Abbott
- Becton, Dickinson and Co.
- Biomerieux
- Bio-Rad Laboratories Inc.
- Bio-Techne
- Bruker
- Danaher Corp.
- EKF Diagnostics Holdings Plc
- F. Hoffmann-La Roche Ltd.
- Hologic Inc.
- JSR Corp.
- Quidelortho Corp.
- Siemens Healthineers AG
- Sysmex Corp.
- Thermo Fisher Scientific Inc.
Related reports include:
In Vitro Diagnostics (IVD) Quality Controls: Global Market: The global market for in vitro diagnostics (IVD) quality controls focuses on ensuring the accuracy and reliability of diagnostic tests. As demand for precise diagnostics grows, the need for high-quality control systems in IVD devices is growing worldwide.
In Vitro Diagnostics (IVD) Analyzers: Global Market: The global market for IVD analyzers is driven by the rising demand for efficient and accurate diagnostic testing. These analyzers play a crucial role in disease detection and monitoring.
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