Liquid Biopsy and In Vitro Diagnostics: A Decade of Innovation By 2023 to 2033

BySanket Badgujar
Market Research

The In Vitro Diagnostics Market is a significant area of the worldwide healthcare sector and is essential for the early diagnosis, ongoing monitoring, and effective management of diseases. Using diverse biological samples like blood, urine, and tissues, IVD refers to medical tests and examinations carried out outside the human body, often in a laboratory setting. These tests are crucial for discovering genetic disorders, diagnosing diseases, and gauging the success of treatments. The prevalence of chronic diseases is increasing, the population is ageing, and early disease detection is becoming more and more popular, which has led to a large expansion in the IVD market over time.

The IVD market has seen a revolution as a result of technological developments including molecular diagnostics, immunoassays, and point-of-care testing, which provide quicker and more accurate findings. The market has expanded as a result of the integration of artificial intelligence and machine learning, which has improved diagnostic capabilities and expedited the testing procedure.

With an unprecedented need for diagnostic tests including PCR and antigen testing to identify and track infections, the COVID-19 pandemic had a significant impact on the IVD market. Innovative IVD solutions are now even more necessary as a result of the pandemic’s acceleration of telemedicine and remote patient monitoring adoption.

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During the forecast period, the in vitro diagnostics market is anticipated to grow at a consistent CAGR of 4.8%. The market is expected to reach a value of US$ 129.9 billion by 2033, up from its current share of US$ 81.3 billion in 2023.

The IVD market include multinational corporations, specialized diagnostics companies, and research institutions, all striving to develop cutting-edge technologies and expand their product portfolios. Regulatory bodies, such as the US FDA and the European Medicines Agency, play a critical role in ensuring the safety and efficacy of IVD products, which can influence market growth and global market access.

Key Points:

  • The United States market leads the space in terms of market share. The market is expected to cross a value of US$ 51.9 billion by 2033. The regional market is expected to thrive at a CAGR of 4.4% between 2023 and 2033.
  • The Indian in vitro diagnostics market leads in terms of CAGR. It thrives at a steady CAGR of 8.8% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Asian economies like India and China building their healthcare infrastructure by advancing them with the latest diagnostics solutions for early detection and faster prevention.
  • Clinical chemistry is likely to thrive in the technology-type category as it covers massive diagnostic operations along with the prevention of life-threatening cancers. It is expected to thrive at a CAGR of 4.2% during the forecast period.
  • The infectious disease segment tops the application category with a CAGR of 4.6% between 2023 and 2033. The growth is attributed to higher consumption.

Competitive Landscape:

The key competitors focus on developing efficient, faster, and effective detection technology. Key competitors also merge, acquire, and partner with other companies to increase the supply chain and distribution channel. The key players in the market are: Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Abbott, Thermo Fisher Scientific

For Instance:

  • Roche diagnostics has introduced its in vitro diagnostics (IVDs) that are to cover conditions and infections through blood tissue and urine. Furthermore, advanced diagnostic tools are launched by the company.
  • Thermo Fisher Scientific has introduced its testing categories such as advanced instruments and automation technology, disease diagnostic, quality controls, and quality assurance software.

Key Segments

By Product & Service:

  • Reagents
  • Instruments
  • Services & Software

By Technology:

  • Immunodiagnostics
  • Hematology
  • Molecular diagnostics
  • Tissue diagnostics
  • Clinical chemistry
  • Others

By Application:

  • Infectious diseases
  • Cancer
  • Cardiac diseases
  • Immune system disorders
  • Nephrological diseases
  • Gastrointestinal diseases
  • Others

By End User:

  • Standalone laboratories
  • Hospitals
  • Academics & Medical Schools
  • Point-of-Care
  • Others