In Vitro Diagnostics (IVD) Market Outlook To 2024: In-Depth Market View, Key Product & Service Categories (Reagents & Kits, CT, Instruments, Softwares, Services), Application (Diabetes, Infectious Diseases, Oncology, Cardiology, Nephrology, HIV/Ads, Autoimmune Diseases, Drug Testing/Pharmacogenomics), Regional Segmentation, Top Players & Company Share, Competitive Dynamics, Growth Drivers & Restraints, M&A Insights, Segment Forecast And Key Conclusion

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The global in vitro diagnostics market was valued at $59.8bn in 2016 and is forecast to grow at a modest 5.6% CAGR between 2017 and 2024, culminating in 2024 global sales of $92.6bn.

 

The global In vitro diagnostics market is witnessing rapid growth owing to the technological advancements, rising prevalence of chronic diseases such as cancer, cardiovascular diseases, neurological diseases, and the explosion of the geriatric population across the globe.

 

The life style factors such as smoking, alcohol consumption, substance abuse, physical inactivity, and poor dietary habits are driving the growth of several chronic diseases. The rise in disposable income levels is acting as a double edge sword and is leading to undesirable consequences. The growing consumption of junk food coupled with degrading life style habits is leading to rapid increase in obesity and diabetes cases.

 

As per the Administration of Aging (AoA), the U.S. has witnessed a significant increase in the geriatric population base. In 2014, it was estimated that around 46.2 million people were aged 65 and above and by 2060, this population is expected to hit nearly 98 million. The increase in average life span is expected to drive the number of diseased patients who require advanced diagnostics for their diagnosis and treatment.

 

In Vitro Diagnostics (IVD) Market 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for In Vitro Diagnostic Products”

 

Estimated Average medical imaging product cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

The product pricing and accessibility play a vital role in market expansion across different regions. Due to the continuous investment in R&D, several new products are launched each year. The presence of strong reimbursement framework and regulatory oversight in the U.S. and Europe are amongst the key factors for the high market dominance by these regions. However, the rising healthcare expenditure and growing patient volumes are increasing the burden on the healthcare system and driving the market competition and pricing strategies adopted by the leading multinational players such as Abbott, Roche, and other players.

 

Product and Service Outlook

 

The market is segmented based on product and service as follows, instruments, reagents, software, and services. Instruments are the highest revenue generating segment due to their advanced technology and high prices. Each instrument can perform multiple diagnostic tests and on an average, the old instruments are replaced after 5-7 years of usage.

 

Over the forecast period, the reagents category is expected to grow at the highest CAGR of over 6.4%. The introduction of several new biomarkers and reagents has significantly improved the diagnostic capabilities, and companies are developing instruments which can perform diagnostic tests using multiple biomarkers and lead to significant cost savings in the healthcare system.

 

Technology Outlook

 

Based on technology, the market is categorized as Immunochemistry/Immunoassays, Clinical Chemistry, Molecular Diagnostics (MDX), Clinical Microbiology, Hematology, Coagulation and Hemostasis and others. In 2016, Immunoassays was the largest segment due to its application in a wide number of diseases. However molecular diagnostics is expected to register the maximum CAGR from 2017 to 2024. The introduction of several new instruments and reagents for performing molecular diagnostics is a key thrust factor for the anticipated growth over the forecast period.

 

Application Insights

 

Based on the application the market is segmented into diabetes, infectious diseases, oncology, cardiology, nephrology, autoimmune diseases, drug testing, HIV/Aids and others. Infectious diseases category was the largest segment in 2016, owing to the high prevalence of HIV/AIDS, malaria, hepatitis, and other tropical diseases.

 

By 2024, oncology is expected to emerge as the fastest growing segment due to the rapid growth in breast, liver, lung, skin, gastric and other forms of cancer across the globe. For instance, in the U.S., as per 2014 National Cancer Institute data, nearly 40% men and women were expected to be diagnosed with cancer in their lifetime. As per 2016 estimates, approximately 1,685,210 new cases of cancers were anticipated, and nearly 595,690 people were expected to die to due to the disease.

 

End Use Insights

 

The In Vitro diagnostics market is segmented based on the end user as hospitals, laboratories, point-of-care testing, patient self-testing, academic institutes and others. In 2016, hospitals accounted for nearly 70% of the share and are expected to continue their dominance over the forecast period. The presence of well-developed hospital network equipped with advanced diagnostic facilities is a key reason for the high share. However, the other categories such as point-of-care testing and self-testing are giving high competition to the hospitals.

 

Regional Segmentation

 

The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2016, North America dominated the market with a revenue share of over 42%. North America has a high share mainly due to the high healthcare expenditure in the U.S, the introduction of new products, access to highly advanced healthcare technologies, the presence of a large patient pool and strong support from government agencies to promote preventive screening diagnostics for all major diseases.

 

By 2024, Asia Pacific is anticipated to outgrow other regions in terms of growth rate. The high demand for diagnostics from countries such as Japan, China, India and other South Asian economies is a key factor driving the market expansion. Moreover, the rise in healthcare expenditure and growing insurance penetration in this region is encouraging people to opt for advanced diagnostics and therefore these developments are expected to reinforce the growth prospects in over the next few years.

 

Merger and Acquisition Insight

 

The market is majorly dominated by players such as Roche Diagnostics, Siemens Healthineers, Abbott, Bio-Rad, Beckman Coulter, Johnson & Johnson, Alere, BioMerieux and others. The market is moving toward consolidation due to the growing R&D costs, pricing pressure and the need to retain the market share. The top players usually grow or retain their market share by acquiring small or mid-sized players with a niche portfolio and lucrative growth prospects.

 

Top Players & Company Share

 

As of 2016, The market is majorly dominated by players such as Roche Diagnostics, Siemens Healthineers, Abbott, Bio-Rad, Beckman Coulter, Johnson & Johnson, Alere, BioMerieux and others.

In Vitro Diagnostics (IVD) Market

Market Segmentation

 

In Vitro Diagnostics Market by Product & Service (Revenue, USD Million, 20124- 2024)

  • Reagents and Kits
  • Instruments
  • Software
  • Services

 

In Vitro Diagnostics by Technology (Revenue, Million, 2014 – 2024)

  • Immunochemistry/Immunoassays
  • Clinical Chemistry
  • Molecular Diagnostics (MDX)
  • Clinical Microbiology
  • Hematology
  • Coagulation and Hemostasis
  • Other IVD Technologies

In Vitro Diagnostics by Application (Revenue, USD Million, 2014 – 2024)

  • Diabetes
  • Infectious Diseases
  • Oncology
  • Cardiology
  • Nephrology
  • Autoimmune Diseases
  • Drug Testing
  • HIV/Aids
  • Others
  • Clinical Chemistry
  • Molecular Diagnostics (MDX)

In Vitro Diagnostics by End Use (Revenue, USD Million, 2014 – 2024)

  • Hospitals
  • Laboratories
  • Point-of-Care Testing
  • Patient-Self Testing
  • Academic Institutes
  • Others

 

In Vitro Diagnostics Regional Outlook (Revenue, USD Million, 20124- 2024)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
    • Columbia
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 In Vitro Diagnostics Market Overview

  • Technological advancements in in vitro diagnostics
  • Disease landscape
  • Healthcare Expenditure
  • Prevalence by key indication
  • Incidence by key indication

Chapter 4 In Vitro Diagnostics Industry Outlook

  • Market overview
  • Market segmentation
  • Market size and growth prospects
  • Market analysis by product & service type
  • Market analysis by application
  • Market analysis by technology
  • Market analysis by end user
  • Market analysis by geography
  • Leading brand dynamics
  • Key Market Drivers
    • Rising prevalence of chronic diseases
    • Growing healthcare expenditure and improvement in access to point of care testing
    • Technological advancements in IVD
    • Growing number of diagnostic centers
    • Rising demand for personalized medicine
    • Changes in the reimbursement framework and government mandates
  • Key Market Challenges
    • Lack of adequate reimbursement
    • Lack of adequate healthcare infrastructure and skilled personnel
  • Major Trends and issues
  • Key events and its impact on future market
  • Key Opportunities Prioritized
  • Industry analysis - Porter’s
  • In Vitro Diagnostics Market-PESTEL Analysis

Chapter 5: Regional Market Outlook

In Vitro Diagnostics Market Landscape by Region- 2016

  • North America Market Landscape Analysis, 2016-2022 (USD Mn)
    • U.S. Market Landscape Analysis, 2016-2022
    • Canada Market Landscape Analysis-2016-2024
  • Europe Market Landscape Analysis, 2016-2022 (USD Mn)
    • UK Market Landscape Analysis, 2016-2022
    • Germany Market Landscape Analysis, 2016-2024
    • France Market Landscape Analysis, 2016-2024
    • Italy Market Landscape Analysis, 2016-2024
    • Spain Market Landscape Analysis, 2016-2024
  • Latin America Market Landscape Analysis, 2016-2024 (USD Mn)
    • Brazil Market Landscape Analysis, 2016-2024
    • Mexico Market Landscape Analysis, 2016-2024
    • Colombia Market Landscape Analysis, 2016-2024
  • Asia pacific Market Landscape Analysis, 2016-2024 (USD Mn)
    • Japan Market Landscape Analysis, 2016-2024
    • China Market Landscape Analysis, 2016-2024
    • India Market Landscape Analysis, 2016-2024

Chapter 6: Pricing Analysis

Optimal Price Points (OPP), Indifference price points (IPP) and Range of Acceptable Prices and (RAP) of leading brands by Region- 2016

  • North America Pricing Analysis (OPP, IPP, and RAP - 2016)
    • U.S. Pricing Analysis-2016
    • Canada Pricing Analysis-2016
  • Europe Pricing Analysis (OPP, IPP, and RAP - 2016)
    • UK Pricing Analysis-2016
    • Germany Pricing Analysis-2016
    • France Pricing Analysis-2016
    • Italy Pricing Analysis-2016
    • Spain Pricing Analysis-2016
  • Latin America Pricing Analysis (OPP, IPP, and RAP - 2016)
    • Brazil Pricing Analysis-2016
    • Mexico Pricing Analysis-2016
    • Colombia Pricing Analysis-2016
  • Asia pacific Pricing Analysis (OPP, IPP, and RAP - 2016)
    • Japan Pricing Analysis-2016
    • China Pricing Analysis-2016
    • India Pricing Analysis-2016

Chapter 7: In Vitro Diagnostics Pipeline Analysis

  • Executive Summary
  • Late Stage Pipeline analysis
  • Key R&D trends

Chapter 8: In Vitro Diagnostics Mergers & Acquisition Insights

  • Factors Driving M&A activity in In vitro diagnostics market
  • Historic trends and future outlook
  • Average deal size by region

Chapter 9: In Vitro Diagnostics Regulatory and Patent Analysis

  • Regulatory Landscape (U.S., Europe, and RoW)
  • Patent Landscape by Region (U.S., Europe and RoW)

Chapter 10: Competitive Landscape

  • Becton, Dickinson and Company
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Bio-Rad Laboratories, Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Johnson & Johnson
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Roche Diagnostics
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Siemens Healthineers
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Thermo Fisher Scientific, Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Abbott Laboratories, Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Biomérieux SA
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Danaher Corporation
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Qiagen N.V.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  List of Tables
  • TABLE 1 In Vitro Diagnostics Market - Industry Snapshot & Key Buying Criteria, 2013 - 2024
  • TABLE 2 Global In Vitro Diagnostics Market, 2013 – 2024
  • TABLE 3 Global In Vitro Diagnostics Market Analysis by Product and Service Type-2016
  • TABLE 4 Global In Vitro Diagnostics Market Analysis by Application-2016
  • TABLE 5 Global In Vitro Diagnostics Market Analysis by Technology-2016
  • TABLE 6 Global In Vitro Diagnostics Market Analysis by End User-2016
  • TABLE 7 Global In Vitro Diagnostics Market Analysis by Geography-2016
  • TABLE 8 Global In Vitro Diagnostics Market Analysis by Leading Brands-2016
  • TABLE 9 In Vitro Diagnostics Market - Key market driver analysis
  • TABLE 10 In Vitro Diagnostics Market - Key market restraint analysis
  • TABLE 11 North America Market In Vitro Diagnostics Landscape Analysis, 2016-2024 (USD MM)
  • TABLE 12U.S. In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 13 Canada In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 14 Europe In Vitro Diagnostics Market Landscape Analysis, 2016-2022 (USD MM)
  • TABLE 15 U.K In Vitro Diagnostics Market Landscape Analysis, 2016-2022
  • TABLE 16 Germany In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 17 France In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 18 Italy In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 19 Spain In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 20 Latin America In Vitro Diagnostics Market Landscape Analysis, 2016-2024 (USD MM)
  • TABLE 21 Brazil In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 22 Mexico In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 20 Colombia In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 21 Asia pacific In Vitro Diagnostics Market Landscape Analysis, 2016-2024 (USD MM)
  • TABLE 22 Japan In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 23 China In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 24 India In Vitro Diagnostics Market Landscape Analysis, 2016-2024
  • TABLE 25 North America Pricing Analysis
  • TABLE 26 North America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 27 U.S. Pricing Analysis-2016
  • TABLE 28 Canada Pricing Analysis-2016
  • TABLE 29 Europe Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 30 U.K Pricing Analysis-2016
  • TABLE 31 Germany Pricing Analysis-2016
  • TABLE 32 France Pricing Analysis-2016
  • TABLE 33 Italy Pricing Analysis-2016
  • TABLE 34 Spain Pricing Analysis-2016
  • TABLE 35 Latin America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 36 Brazil Pricing Analysis-2016
  • TABLE 37 Mexico Pricing Analysis-2016
  • TABLE 38 Colombia Pricing Analysis-2016
  • TABLE 39 Asia pacific Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 40 Japan Pricing Analysis-2016
  • TABLE 41 China Pricing Analysis-2016
  • TABLE 42 India Pricing Analysis-2016
  • TABLE 43 U.S. In Vitro Diagnostics Reimbursement Landscape Analysis -2016
  • TABLE 44 Canada In Vitro Diagnostics Reimbursement Landscape Analysis -2016
  • TABLE 45 Europe In Vitro Diagnostics Reimbursement Landscape Analysis -2016
  • TABLE 46 U.K In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 47 Germany In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 48 France In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 49 Italy In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 50 Spain In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 51 Latin America In Vitro Diagnostics Reimbursement Landscape Analysis -2016
  • TABLE 52 Brazil In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 53 Mexico In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 54 Colombia In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 55 Asia Pacific In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 56 China In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 56 Japan In Vitro Diagnostics Reimbursement Landscape Analysis-2016
  • TABLE 57 India In Vitro Diagnostics Reimbursement Landscape Analysis-2016
List of Figures-
  • 1 In Vitro Diagnostics Market Segmentation
  • 2 Market Size & Growth Prospects
  • 3 Leading Brand Dynamics
  • 4 Penetration & Growth Prospects
  • 5 Industry Analysis – Porter’s
  • 6 In Vitro Diagnostics Market – PESTEL Analysis
 

Key Insights Addressed:  

  • Defining market size from 2013 to 2015.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird’s-eye view of the competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
    Key Findings:    
  • The global in vitro diagnostics market was valued at $59.8bn in 2016 and is forecast to grow at a modest 5.6% CAGR between 2017 and 2024, culminating in 2024 global sales of $92.6bn.
  • In 2014, it was estimated that around 46.2 million people were aged 65 and above and by 2060, this population is expected to hit nearly 98 million. The increase in average life span is expected to drive the number of diseased patients who require advanced diagnostics for their diagnosis and treatment.
  • The product pricing and accessibility play a vital role in market expansion across different regions. Due to the continuous investment in R&D, several new products are launched each year.
  • Over the forecast period, the reagents category is expected to grow at the highest CAGR of over 6.4%. The introduction of several new biomarkers and reagents has significantly improved the diagnostic capabilities, and companies are developing instruments which can perform diagnostic tests using multiple biomarkers and lead to significant cost savings in the healthcare system.
  • As of 2016, The market is majorly dominated by players such as Roche Diagnostics, Siemens Healthineers, Abbott, Bio-Rad, Beckman Coulter, Johnson & Johnson, Alere, BioMerieux and others.

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-

    1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
    2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brainstorming, key discussion pointers from various forums etc.
    3. Need Gap Analysis- Defining the gap between our scope and availability of information.
    4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
    5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting the primary interview with a structured questionnaire.
    6. Data Triangulation- We apply bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
    7. Analyst Comment- Each of our analysts carries large pool of experience from domain perspective and add their value which is directional in nature
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Description

The global in vitro diagnostics market was valued at $59.8bn in 2016 and is forecast to grow at a modest 5.6% CAGR between 2017 and 2024, culminating in 2024 global sales of $92.6bn.

 

The global In vitro diagnostics market is witnessing rapid growth owing to the technological advancements, rising prevalence of chronic diseases such as cancer, cardiovascular diseases, neurological diseases, and the explosion of the geriatric population across the globe.

 

The life style factors such as smoking, alcohol consumption, substance abuse, physical inactivity, and poor dietary habits are driving the growth of several chronic diseases. The rise in disposable income levels is acting as a double edge sword and is leading to undesirable consequences. The growing consumption of junk food coupled with degrading life style habits is leading to rapid increase in obesity and diabetes cases.

 

As per the Administration of Aging (AoA), the U.S. has witnessed a significant increase in the geriatric population base. In 2014, it was estimated that around 46.2 million people were aged 65 and above and by 2060, this population is expected to hit nearly 98 million. The increase in average life span is expected to drive the number of diseased patients who require advanced diagnostics for their diagnosis and treatment.

 

In Vitro Diagnostics (IVD) Market 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for In Vitro Diagnostic Products”

 

Estimated Average medical imaging product cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

The product pricing and accessibility play a vital role in market expansion across different regions. Due to the continuous investment in R&D, several new products are launched each year. The presence of strong reimbursement framework and regulatory oversight in the U.S. and Europe are amongst the key factors for the high market dominance by these regions. However, the rising healthcare expenditure and growing patient volumes are increasing the burden on the healthcare system and driving the market competition and pricing strategies adopted by the leading multinational players such as Abbott, Roche, and other players.

 

Product and Service Outlook

 

The market is segmented based on product and service as follows, instruments, reagents, software, and services. Instruments are the highest revenue generating segment due to their advanced technology and high prices. Each instrument can perform multiple diagnostic tests and on an average, the old instruments are replaced after 5-7 years of usage.

 

Over the forecast period, the reagents category is expected to grow at the highest CAGR of over 6.4%. The introduction of several new biomarkers and reagents has significantly improved the diagnostic capabilities, and companies are developing instruments which can perform diagnostic tests using multiple biomarkers and lead to significant cost savings in the healthcare system.

 

Technology Outlook

 

Based on technology, the market is categorized as Immunochemistry/Immunoassays, Clinical Chemistry, Molecular Diagnostics (MDX), Clinical Microbiology, Hematology, Coagulation and Hemostasis and others. In 2016, Immunoassays was the largest segment due to its application in a wide number of diseases. However molecular diagnostics is expected to register the maximum CAGR from 2017 to 2024. The introduction of several new instruments and reagents for performing molecular diagnostics is a key thrust factor for the anticipated growth over the forecast period.

 

Application Insights

 

Based on the application the market is segmented into diabetes, infectious diseases, oncology, cardiology, nephrology, autoimmune diseases, drug testing, HIV/Aids and others. Infectious diseases category was the largest segment in 2016, owing to the high prevalence of HIV/AIDS, malaria, hepatitis, and other tropical diseases.

 

By 2024, oncology is expected to emerge as the fastest growing segment due to the rapid growth in breast, liver, lung, skin, gastric and other forms of cancer across the globe. For instance, in the U.S., as per 2014 National Cancer Institute data, nearly 40% men and women were expected to be diagnosed with cancer in their lifetime. As per 2016 estimates, approximately 1,685,210 new cases of cancers were anticipated, and nearly 595,690 people were expected to die to due to the disease.

 

End Use Insights

 

The In Vitro diagnostics market is segmented based on the end user as hospitals, laboratories, point-of-care testing, patient self-testing, academic institutes and others. In 2016, hospitals accounted for nearly 70% of the share and are expected to continue their dominance over the forecast period. The presence of well-developed hospital network equipped with advanced diagnostic facilities is a key reason for the high share. However, the other categories such as point-of-care testing and self-testing are giving high competition to the hospitals.

 

Regional Segmentation

 

The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2016, North America dominated the market with a revenue share of over 42%. North America has a high share mainly due to the high healthcare expenditure in the U.S, the introduction of new products, access to highly advanced healthcare technologies, the presence of a large patient pool and strong support from government agencies to promote preventive screening diagnostics for all major diseases.

 

By 2024, Asia Pacific is anticipated to outgrow other regions in terms of growth rate. The high demand for diagnostics from countries such as Japan, China, India and other South Asian economies is a key factor driving the market expansion. Moreover, the rise in healthcare expenditure and growing insurance penetration in this region is encouraging people to opt for advanced diagnostics and therefore these developments are expected to reinforce the growth prospects in over the next few years.

 

Merger and Acquisition Insight

 

The market is majorly dominated by players such as Roche Diagnostics, Siemens Healthineers, Abbott, Bio-Rad, Beckman Coulter, Johnson & Johnson, Alere, BioMerieux and others. The market is moving toward consolidation due to the growing R&D costs, pricing pressure and the need to retain the market share. The top players usually grow or retain their market share by acquiring small or mid-sized players with a niche portfolio and lucrative growth prospects.

 

Top Players & Company Share

 

As of 2016, The market is majorly dominated by players such as Roche Diagnostics, Siemens Healthineers, Abbott, Bio-Rad, Beckman Coulter, Johnson & Johnson, Alere, BioMerieux and others.

In Vitro Diagnostics (IVD) Market

Market Segmentation

 

In Vitro Diagnostics Market by Product & Service (Revenue, USD Million, 20124- 2024)

  • Reagents and Kits
  • Instruments
  • Software
  • Services

 

In Vitro Diagnostics by Technology (Revenue, Million, 2014 – 2024)

  • Immunochemistry/Immunoassays
  • Clinical Chemistry
  • Molecular Diagnostics (MDX)
  • Clinical Microbiology
  • Hematology
  • Coagulation and Hemostasis
  • Other IVD Technologies

In Vitro Diagnostics by Application (Revenue, USD Million, 2014 – 2024)

  • Diabetes
  • Infectious Diseases
  • Oncology
  • Cardiology
  • Nephrology
  • Autoimmune Diseases
  • Drug Testing
  • HIV/Aids
  • Others
  • Clinical Chemistry
  • Molecular Diagnostics (MDX)

In Vitro Diagnostics by End Use (Revenue, USD Million, 2014 – 2024)

  • Hospitals
  • Laboratories
  • Point-of-Care Testing
  • Patient-Self Testing
  • Academic Institutes
  • Others

 

In Vitro Diagnostics Regional Outlook (Revenue, USD Million, 20124- 2024)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
    • Columbia
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

Additional information

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