In Vitro Diagnostics (IVD) Markets 2020-2030 and Impact of COVID-19 on IVD Testing

Dublin, Aug. 06, 2020 (GLOBE NEWSWIRE) -- The "Global In Vitro Diagnostic Market: Focus on Product, Test Type, Application, End User, Region and Competitive Landscape - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

According to the report, the global in-vitro diagnostic market is valued at $69.51 billion in 2020 and is anticipated to grow over $113.86 billion by 2030. The global in-vitro diagnostic market is expected to grow at the double-digit compound annual growth rate in the forecast period 2020-2030, aided primarily by the impressive growth in the underlying manufacturing market.

The in vitro diagnostic (IVD) has emerged as one of the most promising techniques in the field of diagnostics. The IVD sector is playing a critical role in shifting the healthcare and drug discovery landscape. The current healthcare system is under massive burden on account of rising demand and soaring costs, and this trend is projected to worsen in the forthcoming years.

The potential challenges tend to be chronic age-related conditions, including cardiovascular disease, cancer, and neurological diseases, and these will become more prevalent as population demographics shift upward. Rising healthcare costs pertaining to these conditions create a need for advanced tools that are fast, accurate, specific, informative, affordable, and less invasive for clinical decision making. Catering to these mentioned needs, IVD tools hold the potential to help shift the emphasis in medicine from reaction to prevention.

North America is the leading contributor in the global IVD market and contributed approximately 37.60% to the global market value in 2019. This region is anticipated to grow at a CAGR of 4.43% during the forecast period 2020-2030 and continue dominating the global market in 2030 as well. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 6.10% during the forecast period from 2020-2030. The European region also contributed a significant share of 28.50% to the global market in 2019 and is anticipated to grow at a CAGR of 4.96% during the forecast period from 2020-2030.

Research Highlights

• IVD market for consumables is expected to witness a robust CAGR of 5.28% during the forecast period 2020-2030. However, the IVD market for instruments is anticipated to witness the growth of 4.28% during the forecast period, 2020-2030.

• F. Hoffmann-La Roche Ltd is currently the largest shareholder in the global IVD market. This market dominance is attributed to the company's presence within the market through its dedicated product mix based on its proprietary technologies.

This market intelligence report provides a multi-dimensional view of the global IVD market in terms of market size and growth potential. This research report aims at answering various aspects of the global IVD market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launch and enhancements, approvals, synergistic activities, acquisitions, and expansions. The research report provides a comprehensive analysis of product sales, manufacturers, and trend analysis by segment, market share, and growth-share analysis by companies. Additionally, the report provides a comprehensive and attractive analysis and opportunity analysis for the entire IVD market for 2019 and 2030.

This report is a meticulous compilation of research on more than 30 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading and emerging companies, market participants, and vendors. The report also comprises 18 detailed company profiles including several key players, such as Agilent Technologies, Inc., F. Hoffmann-La Roche, Illumina, Inc., Qiagen N.V., Abbott Laboratories, Inc., Thermo Fisher Scientific, Danaher Corporation, Myriad Genetics, Inc., Laboratory Corporation of America Holdings, Siemens Healthineers, Inc., Quest Diagnostics Incorporated, Bio-Rad Laboratories, Inc., Sysmex Corporation, bioMrieux S.A. Becton, Dickinson and Company, Ortho Clinical Diagnostics, Hologic, Inc, and DiaSorin S.p.A.

Growth Drivers

• Rise in Adoption of Rapid, Minimally Invasive and Non-Invasive Diagnostics Tools & Techniques

• Rise in the Global Geriatric Population

• High Number of Patients with Infectious and Chronic Diseases

• Rise in the Global Healthcare Expenditure

• Rise in the Demand for POC Testing

Market Challenges

• Uneven Reimbursement Scenario

• Uncertain Regulatory Environment

Market Opportunities

• Rise in the Demand for Molecular Diagnostics

• Epigenomics Based Approach

Key Questions Answered

• What are IVD solutions? How have different IVD solutions evolved over the years?

• What are the major market drivers, challenges, and opportunities in the global IVD market?

• What was the global IVD market size in terms of revenue in 2019? How is the market expected to evolve in the upcoming years? What is the market size expected to be in 2030?

• How is each segment of the global IVD market expected to grow during the forecast period between 2020 to 2030, and what is the revenue expected to be generated by each of the segments by the end of 2030?

• What are the developmental strategies implemented by the key players to sustain in the competitive market?

• What is the growth potential of the IVD market in each region, namely, North America, Europe, Asia-Pacific, Latin America, Middle East, and Rest-of-the-World?

• Which product among the two (assays and kits & instrument) are offered by key players such as Thermo Fisher Scientific, Illumina Inc., Qiagen N.V., and F. Hoffmann-La Roche Ltd.?

• Which test type is leading the market in 2019 and expected to dominate the market in 2030, and why?

• Which application and end-user type are leading the market in 2019 and are expected to dominate the market in 2030, and why?

• Which region dominated the global IVD market in 2019, and what are the expected trends from each of the regions during the forecast period 2020-2030?

• What are the emerging trends in the global in-vitro diagnostic market?

• Which companies are anticipated to be highly disruptive in the future, and why?

Key Topics Covered

Executive Summary

1 Product Definition
1.1 Inclusion and Exclusion

2 Research Scope
2.1 Scope of the Study
2.2 Key Questions Answered in the Report

3 Research Methodology
3.1 Global IVD Market: Research Methodology
3.2 Primary Data Sources
3.3 Secondary data sources
3.4 Market Estimation Model
3.5 Criteria for Company Profiling

4 Market Overview
4.1 Introduction
4.2 Global IVD Market Outlook
4.2.1 Global Diagnostic Expenditures
4.2.2 Pricing Patterns for Diagnostics (IVD)
4.3 Reimbursement Scenario
4.3.1 U.S.
4.3.2 Europe
4.4 Regulatory Scenario
4.4.1 U.S.
4.4.2 Europe
4.4.3 Asia-Pacific
4.4.4 Latin America
4.5 Market Size and Growth Potential
4.5.1 Short Term Impact (2020-2025)
4.5.2 Long Term Impact (2026-2030)

5 COVID-19: Impact on the IVD Market
5.1 Situation Analysis
5.2 Impact of COVID-19 on IVD Testing

6 Market Dynamics
6.1 Market Drivers
6.2 Market Restraints
6.3 Market Opportunities

7 Global In-Vitro Diagnostics (IVD) Market (by Product)
7.1 Overview
7.2 Instruments
7.3 Consumables
7.3.1 Kits
7.3.2 Reagents
7.4 Software

8 Global In-Vitro Diagnostics (IVD) Market (by Test Type)
8.1 Overview
8.2 Immunoassay
8.3 Clinical Chemistry
8.4 Whole Blood Glucose Monitoring
8.5 Molecular Diagnostics
8.6 Microbiology
8.7 Anatomic Pathology
8.8 Hematology
8.9 Coagulation
8.1 Critical Care
8.11 Urinalysis
8.12 Others

9 Global In-Vitro Diagnostics (IVD) Market (by Application)
9.1 Overview
9.2 Diabetes
9.3 Infectious Disease
9.4 Oncology/Cancer
9.5 Cardiology
9.6 Nephrology
9.7 Autoimmune Disease
9.8 Drug Testing/Pharmacogenomics
9.9 HIV/AIDS
9.1 Women's Health
9.11 Other Applications

10 Global In-Vitro Diagnostics (IVD) Market (by End User)
10.1 Overview
10.2 Hospitals
10.3 Central Laboratories
10.4 Point-of-Care (POC)
10.5 Clinics
10.6 Academic Institutions
10.7 Other End Users

11 Global In-Vitro Diagnostics (IVD) Market (Region)
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Latin America
11.5 Middle East
11.6 Rest-of-the-World

12 Strategic Recommendations
12.1 Key Takeaways
12.2 Gap Analysis
12.3 Key Factors Influencing Decision Making in the IVD Market
12.4 Technology Preferences

13 Competitive Landscape
13.1 Key Strategies and Development
13.1.1 Product Launch and Enhancements
13.1.2 Approvals
13.1.3 Synergistic Activities
13.1.4 Acquisitions
13.1.5 Expansions
13.2 Market Share Analysis
13.3 Growth Share Analysis (Opportunity Mapping)

14 Company Profiles
14.1 Overview
14.2 Agilent Technologies, Inc.
14.2.1 Company Overview
14.2.2 Role of Agilent Technologies in the Global IVD Market
14.2.3 Financials
14.2.4 Key Insights About Financial Health of the Company
14.2.5 SWOT Analysis
14.3 F. Hoffmann-La Roche
14.4 Illumina, Inc.
14.5 Qiagen N.V.
14.6 Abbott Laboratories, Inc.
14.7 Thermo Fisher Scientific
14.8 Danaher Corporation
14.9 Myriad Genetics, Inc.
14.10 Laboratory Corporation of America Holdings
14.11 Siemens Healthineers, Inc.
14.12 Quest Diagnostics Incorporated
14.13 Bio-Rad Laboratories, Inc.
14.14 Sysmex Corporation
14.15 Biomrieux SA
14.16 Becton, Dickinson and Company
14.17 Ortho Clinical Diagnostics
14.18 Hologic, Inc.
14.19 DiaSorin S.p.A.
14.20 Transasia Bio-Medicals Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/fmi4oy

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