Global In Vitro Diagnostics Market: Product Type (Reagents and Kits, Instruments, Software, Services), Technology Analysis (Immunoassay, Hematology, Microbiology, Urinalysis, Coagulation and Hemostasis, Others), Application Analysis (Diabetes, Cardiology, Oncology, Nephrology, HIV/AIDS, Drug Testing, Autoimmune Diseases, Others), By End-user (Hospitals, Laboratories, Academic Institutes, Others) and Geography

 

In Vitro Diagnostics Market size was valued at 88.13 Billion in 2021 and is estimated to reach 109.87 Billion by 2028, at a CAGR of 3.2% during the forecast period 2022 to 2028. In vitro diagnostics are used to detect infectious diseases, and also used to monitor the health status of a person and therapeutic procedures by examining the specimens like blood, tissue, urine, stools and other bodily fluids. Various technologies are incorporated in In Vitro Diagnostics Market as microarray techniques, mass spectrometry, polymerase chain reaction and sequencing technology are used for testing the sample preparation. Growing geriatric population, increased awareness of regular body profiling, particularly among health-conscious people, increasing need for rapid and error-free disease diagnosis, and technological advancements in in vitro diagnostic techniques are some of the key factors driving the global in vitro diagnostics market forward. In 2015 April, Abbott and Sekisui entered into an agreement for providing solutions of coagulation testing for laboratories across the world. In 2014 December, Roche expanded its CE-IVD for testing of human organ and tissue for next-gen blood screening assays. cobas MPX and Cobas WNV assays can be used to test tissue and human organ, therefore expanding the range of approved uses for the cobas 6800/8800 systems and assays. In vitro diagnostics are focusing on acquisitions, exclusive agreements and strategic collaborations in order to expand their business. In February 2015, Roche has acquired Signature Diagnostics to strengthen its cancer diagnostics. In February 2014, Thermo Fisher Scientific has acquired Life Technologies Corporation to strengthen it’s of next-generation sequencing space segment. Different organizations are being operated in order to monitor the industry. For example, BIVDA (British In Vitro Diagnostics Association) is an association of various companies in the UK which represents the manufacturers and distributors with high interest and involvement. Recently, Life Technology Corporation in Europe has launched CE-IVD Marked QuantStudio Dx Real-Time PCR instrument.