NEW YORK, July 31, 2024 /PRNewswire/ -- The global in-vitro diagnostics instruments market size is estimated to grow by USD 52.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.29% during the forecast period. Growing geriatric population is driving market growth, with a trend towards potential opportunities for physician office laboratories (POL). However, strained laboratory budgets and lowering reimbursements affecting instrument sales poses a challenge. Key market players include Abbott Laboratories, Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Biosino Bio Technology and Science Inc, CPC Diagnostics Pvt Ltd., DAAN Gene Co. Ltd., Danaher Corp., F. Hoffmann La Roche Ltd., Guangzhou Wondfo Biotech Co. Ltd., Hologic Inc., Myriad Genetics Inc., QIAGEN NV, QuidelOrtho Corp., Shanghai Kehua Bio Engineering Co. Ltd, Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc..

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Market Driver

In-Vitro Diagnostics (IVD) instruments market growth is driven by the increasing adoption of Point of Care (POL) testing in primary and outpatient care. POL testing, particularly in infectious disease markers, cardiovascular diseases, and diabetes care, is gaining popularity due to its convenience and quick results. Portable IVD instruments are advancing technically, enabling clinicians to perform tests in-house. The CLIA testing for molecular assays in POL practices is expected to fuel market growth. However, certain regulatory aspects regarding CLIA-waived testing may impact market expansion. Despite these challenges, the global IVD instruments market is projected to experience average growth due to the increasing trend towards POL testing. 

The In Vitro Diagnostics Instruments Market is experiencing significant growth due to the rising demand for accurate and rapid medical tests. With a focus on infectious diseases such as Malaria and Chikungunya, the market is seeing increased adoption of advanced technologies like Next-Generation Sequencing (NGS) for pathogen detection. Laboratory technicians play a crucial role in this sector, handling various samples like blood, serum, plasma, urine, saliva, and tissues. Blood banks, home care settings, pharmaceutical companies, biotechnology firms, academic institutes, and non-communicable disease segments are key end-users. Infectious diseases and chronic conditions including cardiology, gastroenterology, and cancer are major application areas. The aging population and the rise of molecular diagnostics for diseases like Alzheimer's and various cancers further fuel market expansion. In vitro diagnostics instruments offer efficiency, accuracy, and convenience in the laboratory environment, making them an essential tool for healthcare providers. 

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Market Challenges

• In the In-Vitro Diagnostics Instruments Market, reimbursement policies for diagnostic testing vary across geographies and are trending downward. This puts pressure on hospitals and diagnostic laboratories to reduce expenditure on IVD instruments to maintain revenue. Workforce shortages and lost health insurance cards lead to fewer patient visits and limited testing volumes. Lean laboratories are emerging in some countries, prioritizing essential capital equipment purchases. Reduced reimbursements for certain instruments, such as SMBG in Europe and IVD instruments in the US, impact sales growth. IVD companies respond by focusing on emerging markets and adapting to market conditions. These factors are expected to restrict the growth of the global IVD Instruments Market during the forecast period.
• The In-Vitro Diagnostics (IVD) Instruments Market is experiencing significant growth due to advances in Next Generation Sequencing, Liquid Biopsy, and Personalized Medicine. Genetic and molecular diagnostic technologies are driving innovation in Clinical Profiles, Companion Diagnostics, and various disease areas such as Hospitals and Healthcare Facilities. IVD equipment in Immunodiagnostics, Hematology, Tissue Diagnostics, Clinical Chemistry, and Cardiac Diseases are in high demand. Challenges include Norovirus, HIV, Lyme disease, and other infectious diseases. Reagents and kits, Software and Services, and Manufacturing Technology are essential components of this market. Diabetes, Oncology, Sexually Transmitted Diseases, and Geriatric Population are key applications. Distribution channels include hypermarkets, pharmacies, drug stores, online providers, standalone laboratories, and Clinical Laboratories. Tropical diseases and Endocrine Disorders are also targeted markets. High blood cholesterol, Heart Disease, Stroke, and Chronic Conditions are significant disease areas.

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Segment Overview 

This in-vitro diagnostics instruments market report extensively covers market segmentation by 

1. Product 
   • 1.1 Immunochemistry
   • 1.2 Clinical microbiology
   • 1.3 Molecular diagnostics
   • 1.4 Others
2. End-user 
   • 2.1 Hospitals and diagnostic laboratories
   • 2.2 Academic and research institutes
   • 2.3 Home care
3. Geography 
   • 3.1 North America
   • 3.2 Europe
   • 3.3 Asia
   • 3.4 Rest of World (ROW)

1.1 Immunochemistry- The In-Vitro Diagnostics (IVD) Instruments Market's highly automated segment of clinical laboratories holds the largest test volume compared to others. However, the demand for immunochemistry analyzers is declining in the US and Europe due to consolidation in France, late payments from Italy, Spain, and Portugal, and reductions in expenditure in the UK, France, and Germany. In contrast, the rise of rural hospitals in China and India lacking basic diagnostics infrastructure presents a growth opportunity. Over 80 immunoassay analyzer models are available, with manufacturers responding to competition through frequent new launches or analyzer upgrades. Reduced European reimbursement is attributed to delayed spending by some medical laboratories, while the Affordable Care Act (ACA) provides greater certainty for investments. IVDs, like Ortho Clinical Diagnostics' VITROS immunodiagnostic products for HIV-1+2 detection, aid in early COVID-19 virus detection. Roche Diagnostics received FDA approval for the first HIV-1/HIV-2 qualitative test on cobas 6800/8800 systems. Innovative products and advanced technologies continue to enter the market, intensifying competition during the forecast period.

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Research Analysis

In vitro diagnostics refer to medical tests conducted outside of a living organism, using samples of bodily fluids, tissues, or other specimens. These tests play a crucial role in the detection and diagnosis of various diseases, including infectious diseases such as Zika, Malaria, and Chikungunya, as well as chronic conditions like cardiovascular diseases, cancer, and endocrine disorders. The laboratory environment is essential for the accurate and reliable performance of these tests. In vitro diagnostics are used extensively in clinical laboratories to diagnose non-communicable diseases such as heart disease, stroke, high blood cholesterol, and Alzheimer's disease. Molecular diagnostics and pathogen detection are advanced areas of in vitro diagnostics, offering rapid and accurate results for the diagnosis of various conditions. Laboratory technicians play a vital role in the collection, preparation, and analysis of samples for in vitro diagnostic tests. In vitro diagnostics are used in various medical specialties, including cardiology, gastroenterology, and neurology, to aid in the early detection and treatment of diseases.

Market Research Overview

In Vitro Diagnostics Instruments Market: Overview The In Vitro Diagnostics Instruments Market refers to the industry that produces and supplies diagnostic tools and equipment used in medical laboratories for analyzing samples derived from bodily fluids, tissues, and other specimens. These diagnostic instruments play a crucial role in detecting various diseases, including infectious diseases such as Norovirus, HIV, Lyme disease, and Shigellosis, chronic conditions like diabetes, cardiovascular diseases, cancer, and Alzheimer's disease, and genetic disorders. The market caters to various end-users, including hospitals, healthcare facilities, pharmacies, drug stores, online providers, standalone laboratories, and clinical laboratories. The In Vitro Diagnostics Instruments Market encompasses a wide range of diagnostic technologies, including Immunodiagnostics, Hematology, Tissue Diagnostics, Clinical Chemistry, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and others. The market is segmented into various product categories, including IVD equipment, Diagnostic Technologies, Reagents and Kits, Software and Services, and Molecular Diagnostics. Molecular Diagnostics further includes Next-Generation Sequencing (NGS), Liquid Biopsy, and Personalized Medicine. The market is also influenced by various factors such as the aging population, the rise in non-communicable diseases, and the increasing prevalence of chronic conditions. The In Vitro Diagnostics Instruments Market is driven by the growing demand for early and accurate diagnosis, the increasing focus on personalized medicine, and the increasing adoption of advanced diagnostic technologies such as NGS, liquid biopsy, and companion diagnostics. The market is also expected to witness significant growth due to the increasing prevalence of diseases such as diabetes, cancer, and cardiovascular diseases, and the growing awareness and acceptance of genetic testing. The market is highly competitive, with various players offering a wide range of diagnostic instruments and solutions. The market is also witnessing significant innovation, with new technologies and products being developed to address the evolving needs of healthcare providers and patients. Some of the key trends in the market include the increasing use of automation, the integration of artificial intelligence and machine learning, and the growing focus on point-of-care testing. The In Vitro Diagnostics Instruments Market is expected to grow at a significant CAGR during the forecast period, driven by the increasing demand for accurate and timely diagnosis, the growing prevalence of chronic diseases, and the increasing adoption of advanced diagnostic technologies. The market is also expected to be influenced by various factors such as regulatory frameworks, reimbursement policies, and technological advancements. In conclusion, the In Vitro Diagnostics Instruments Market plays a vital role in the healthcare industry by providing accurate and timely diagnosis, enabling personalized medicine, and contributing to better patient outcomes. The market is highly dynamic and is expected to witness significant growth in the coming years, driven by various factors such as the increasing prevalence of chronic diseases, the growing focus on personalized medicine, and the increasing adoption of advanced diagnostic technologies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• • Immunochemistry
  • Clinical Microbiology
  • Molecular Diagnostics
  • Others
• End-user
• • Hospitals And Diagnostic Laboratories
  • Academic And Research Institutes
  • Home Care
• Geography
• • North America
  • Europe
  • Asia
  • Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio