The In-vitro Diagnostics Market is expected to reach $130.1 billion by 2030, at a CAGR of 4.6% during the forecast period 2023–2030. The rising prevalence of chronic diseases coupled with the increasing geriatric population, rising prevalence of acute and chronic infectious diseases, increasing funding for research activities, growing awareness regarding early disease diagnosis, growing demand for point-of-care (POC) diagnostics and rapid diagnosis, rising healthcare expenditure, and increasing funding for research activities are the key factors driving the growth of the IVD market. In addition, emerging economies, an inclination toward personalized medicine, and advancements in genomics & proteomics are expected to offer significant growth opportunities in the market.
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Rising Prevalence of Chronic Diseases and Increasing Geriatric Population Drive the In Vitro Diagnostics Market
The prevalence of chronic diseases and conditions such as cancer, diabetes, arthritis, and heart diseases are on the rise globally. According to the WHO, 41 million people die from chronic diseases each year, accounting for around 74% of all deaths globally. Growth in the geriatric population and social behaviors such as tobacco and alcohol use, physical inactivity, and unhealthy diets are major factors driving a steady increase in the number of people suffering from chronic diseases. According to the International Diabetes Federation, the global prevalence of diabetes is expected to reach 11.3% of the global population in 2030 from 10.5% in 2021.


Increasing Funding for Research Activities Drives the Global In Vitro Diagnostics Market
R&D activities in academic and government research institutes and pharmaceutical companies have increased significantly. The funding for these activities is mainly driven by rising healthcare concerns, the complexity of clinical research, and the failure of drugs in earlier-phase studies.
In the U.S., the Department of Defense (DOD), the National Institute of Health (NIH), the Department of Energy (DOE), and NASA account for most public R&D investments. In addition, Research America stated that medical and health R&D spending in the U.S. grew by 11.1% from 2019 to 2020, reaching USD 245.1 billion. Pharmaceutical, medical technology, biotechnology, and health IT companies are expected to account for the largest share of investments in medical and health R&D in the U.S. during the forecast period, mainly due to increased research activities and the high demand for drugs for treating chronic illnesses. Moreover, the WHO states that, in 2020, chronic diseases account for almost three-quarters of all deaths worldwide, with the number of people with diabetes set to increase 2.5-fold by the end of 2020.

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The Reagents & Kits Segment is Expected to register the Highest CAGR During the Forecast Period
Based on the offering, the reagents & kits segment is expected to register the fastest growth during the forecast period. Factors such as rising awareness of rapid POC tests and increasing use of IVD kits and reagents to diagnose diseases in less time and cost support market growth. In addition, the frequent use of assays & kits in the detection of various chronic diseases, commercial availability of a diverse range of reagents, and increasing demand for COVID-19 testing products are driving the growth of this segment.
The Molecular Diagnostics Segment is Expected to Dominate the Global IVD Market in 2023
Based on technology, in 2023, the molecular diagnostic segment is expected to account for the largest share of the market. The segment’s large share is mainly attributed to the increasing prevalence of infectious diseases, technological innovations of the systems, and high sensitivity to detect infectious agents. The molecular diagnostics segment is further divided into polymerase chain reaction (PCR), hybridization, isothermal nucleic acid amplification technology, DNA sequencing & Next-generation sequencing, microarray, mass spectrometry, and other molecular diagnostic technologies.
Based on Application, the Infectious Disease Segment is Expected to Dominate the Global IVD Market in 2023
The large market share of this segment is mainly attributed to the high prevalence of infectious diseases, the rising geriatric population, the growing demand for early disease diagnosis, and government efforts to improve the accessibility of diagnostic services toward infectious disease testing. In vitro diagnostics (IVD) is the most popular diagnostic tool that meets the required standards. IVD kits are widely accepted and effective in diagnosing infectious diseases.
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The OTC/Self-testing Segment is Expected to Register the Highest CAGR During the Forecast Period
OTC kits are generally at-home testing covering fertility testing, blood glucose monitoring, cholesterol testing, and infectious & chronic diseases testing. With home testing kits, patients can save time and money required for hospital/lab visits, as these tests can be performed at home, and results can be shared with physicians remotely. The large share of this segment can be attributed to the high demand for at-home testing and the high prevalence of diseases that require rapid and effective testing.
In 2023, the Diagnostic Laboratories Segment is Expected to Account for the Largest Share of the In Vitro Diagnostics Market
The large market share of this segment is primarily attributed to the rising laboratory automation, availability of well-equipped systems, high prevalence of infectious diseases, and presence of supportive government initiatives. Diagnostic laboratories are healthcare facilities that provide testing services to hospitals, clinics, and other healthcare institutes. Diagnostic laboratories process more samples in less time due to the well-equipped systems and the presence of skilled professionals, thereby accounting for the largest share of the market.
Asia Pacific: Fastest Growing Regional Market
North America is estimated to account for the largest share of the IVD market in 2023, while Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia-Pacific IVD market are increasing investments by healthcare providers towards diagnostics infrastructure improvement, the growing burden of chronic and infectious diseases, the rising geriatric population, the growing accessibility to healthcare services, and the increasing number of hospitals & clinics.
Key Players
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over the years. The key players profiled in the global IVD market are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Siemens Healthineers AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Wama Diagnostica (Brazil), Wiener Laboratorios SAIC (Argentina), QuidelOrtho Corporation (U.S.), Agilent Technologies Inc. (U.S.), and DiaSorin S.p.A. (Italy).
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