A staggering market valued at over $80 billion is just the beginning, as the in vitro diagnostics industry is projected to exceed $130 billion by 2030, fueled by rapid innovation and an increasing global demand for fast, accurate health information.
Key Takeaways
- The global in vitro diagnostics (IVD) market size was valued at USD 81.5 billion in 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2030, reaching USD 128.7 billion by 2030
- In 2023, the IVD market revenue reached approximately USD 85.06 billion, projected to expand to USD 132.20 billion by 2030 at a CAGR of 6.5%
- The IVD industry is forecasted to grow from USD 74.22 billion in 2024 to USD 109.76 billion by 2029 at a CAGR of 8.2%, driven by rising chronic diseases
- North American IVD market valued at USD 34.5 billion in 2023, holding 40.5% global share
- Europe IVD market size was USD 25.6 billion in 2022, expected to grow at 5.2% CAGR to 2030
- Asia-Pacific IVD market projected to reach USD 40.2 billion by 2030 from USD 22.1 billion in 2023 at 8.9% CAGR
- Immunoassay tests dominated IVD product segment with 41.2% share in 2023, valued at USD 35.4 billion globally
- Molecular diagnostics in IVD grew to USD 16.8 billion in 2023, holding 19.5% market share
- Clinical chemistry reagents segment accounted for 28.7% of IVD in 2022, USD 23.4 billion
- Roche Diagnostics held 15.8% global IVD market share in 2023 with revenue of USD 14.3 billion
- Abbott Laboratories IVD revenue reached USD 11.2 billion in 2023, 12.4% market share
- Siemens Healthineers Diagnostics segment USD 10.8 billion in fiscal 2023, 11.9% share
- Oncology IVD applications dominated with 24.5% market share in 2023, valued at USD 21.0 billion globally
- Infectious diseases testing in IVD generated USD 28.4 billion in 2023, 33.1% share driven by COVID and others
- Diabetes management IVD tests USD 23.1 billion in 2022, 27.8% of total IVD applications
The IVD market is growing rapidly due to rising global health demands.
Applications and Disease Areas
- Oncology IVD applications dominated with 24.5% market share in 2023, valued at USD 21.0 billion globally
- Infectious diseases testing in IVD generated USD 28.4 billion in 2023, 33.1% share driven by COVID and others
- Diabetes management IVD tests USD 23.1 billion in 2022, 27.8% of total IVD applications
- Cardiology IVD segment valued USD 12.7 billion in 2023, 14.8% market share
- Oncology companion diagnostics tests USD 6.9 billion in 2023, fastest growing at 12.4% CAGR
- Autoimmune disease IVD testing USD 5.3 billion in 2022, 6.4% share with 7.2% CAGR
- Nephrology IVD applications USD 4.1 billion in 2023, focused on kidney function tests
- HIV diagnostics within infectious IVD USD 3.2 billion in 2023, steady demand
- COVID-19 IVD tests peaked at USD 15.6 billion in 2021 but stabilized to USD 4.8 billion in 2023
- Hepatitis testing IVD market USD 2.9 billion in 2023, part of infectious diseases
- Thyroid disease IVD USD 2.4 billion in 2022, 8.1% CAGR projected
- Sepsis diagnostics in IVD USD 1.8 billion in 2023, critical care application growth 9.5%
- Genetic testing for hereditary diseases USD 7.6 billion in 2023, molecular IVD leader
- Influenza diagnostics IVD USD 2.1 billion in 2022, seasonal demand
- Cancer biomarker tests USD 5.7 billion in 2023, 82% of oncology IVD
- Anemia diagnostics via hematology IVD USD 3.5 billion in 2023, global prevalence driver
- Allergy testing IVD market USD 4.2 billion in 2022, immunoassay based
- Tuberculosis diagnostics USD 1.9 billion in 2023, high in emerging markets
- Cholesterol and lipid profile tests USD 6.8 billion in 2023, cardiology staple
- Pharmacogenomics testing in IVD USD 2.7 billion in 2023, personalized medicine growth 14.2%
- C-reactive protein (CRP) tests for inflammation USD 1.6 billion in 2022, acute care use
- Prenatal screening genetic IVD USD 3.9 billion in 2023, NIPT dominant
- Rheumatoid arthritis diagnostics USD 1.4 billion in 2023, autoimmune segment
- Troponin tests for MI USD 2.3 billion in 2023, key cardiac biomarker
- STD testing panel IVD USD 8.5 billion in 2022, infectious growth area
- Alzheimer's disease IVD biomarkers emerging USD 0.9 billion in 2023, 18.7% CAGR
- Vitamin D deficiency testing USD 2.0 billion in 2023, endocrinology application
- Lyme disease diagnostics USD 0.7 billion in 2022, regional infectious focus
- BNP/NT-proBNP heart failure tests USD 1.5 billion in 2023, cardiology IVD
Applications and Disease Areas Interpretation
While infectious diseases may have leveraged a pandemic to claim the top revenue spot, the quieter, relentless march of cancer diagnostics has quietly built the most valuable castle in the IVD kingdom.
Key Companies and Market Share
- Roche Diagnostics held 15.8% global IVD market share in 2023 with revenue of USD 14.3 billion
- Abbott Laboratories IVD revenue reached USD 11.2 billion in 2023, 12.4% market share
- Siemens Healthineers Diagnostics segment USD 10.8 billion in fiscal 2023, 11.9% share
- Danaher Corporation (Beckman Coulter) IVD sales USD 6.7 billion in 2023, 7.4% global share
- Thermo Fisher Scientific IVD business USD 5.4 billion in 2023, holding 6.0% market share
- Bio-Rad Laboratories IVD revenue USD 1.9 billion in 2023, 2.1% share focused on clinical diagnostics
- Becton Dickinson (BD) diagnostics unit USD 4.2 billion in fiscal 2023, 4.6% IVD share
- Ortho Clinical Diagnostics (QuidelOrtho) generated USD 2.8 billion IVD revenue in 2023, 3.1% share
- bioMérieux SA IVD sales EUR 3.1 billion (USD 3.4 billion) in 2023, 3.8% global share
- Sysmex Corporation diagnostics revenue JPY 450 billion (USD 3.0 billion) in fiscal 2023, 3.3% share
- Hologic Inc. diagnostics division USD 2.1 billion in 2023, strong in molecular IVD 2.3% share
- Qiagen NV molecular diagnostics USD 1.7 billion in 2023, 1.9% IVD market share
- Illumina Inc. contributed USD 4.5 billion to IVD via NGS in 2023, 5.0% specialized share
- Arkray Inc. global IVD revenue approx. USD 1.2 billion in 2023, 1.3% share in glucose monitoring
- Mindray Medical diagnostics sales CNY 12.5 billion (USD 1.8 billion) in 2023, 2.0% emerging share
- Snibe Diagnostic held 1.5% global IVD share with USD 1.4 billion revenue in 2023
- PerkinElmer (Revvity) diagnostics USD 2.9 billion in 2023, 3.2% share post-rebrand
- Fujirebio Inc. IVD revenue USD 0.8 billion in 2023, niche immunoassay leader 0.9% share
- LumiraDx collapsed but held 0.5% share pre-2023 with USD 0.45 billion peak revenue
- Grifols SA diagnostics division EUR 1.8 billion (USD 2.0 billion) in 2023, 2.2% share
- Bio-Rad quality control systems strong, overall 2.1% IVD share USD 1.9 billion 2023
- Top 10 IVD companies controlled 72% market in 2023, Roche leading at 15.8%
- Abbott Alinity systems boosted share to 12.4% with USD 11.2 billion IVD sales 2023
- Siemens Atellica platforms contributed to 11.9% share USD 10.8 billion revenue
- Danaher life sciences IVD grew 8% YoY to USD 6.7 billion 2023 share 7.4%
- Thermo Fisher Unity platforms held 6.0% with USD 5.4 billion diagnostics 2023
- BD held 4.6% IVD share via BD FACSAIQ USD 4.2 billion 2023
- QuidelOrtho merger boosted to 3.1% share USD 2.8 billion revenue FY2023
- bioMérieux VIDAS systems 3.8% share EUR 3.1 billion sales 2023
- Sysmex hematology leader 3.3% share JPY 450B revenue FY2023
Key Companies and Market Share Interpretation
The titans of testing are in a relentless, multi-billion dollar chess match for our blood, urine, and data, where Roche sits as the current king with a 15.8% crown, yet a full quarter of the board remains a chaotic scramble for every remaining drop of market share.
Market Size and Growth
- The global in vitro diagnostics (IVD) market size was valued at USD 81.5 billion in 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2030, reaching USD 128.7 billion by 2030
- In 2023, the IVD market revenue reached approximately USD 85.06 billion, projected to expand to USD 132.20 billion by 2030 at a CAGR of 6.5%
- The IVD industry is forecasted to grow from USD 74.22 billion in 2024 to USD 109.76 billion by 2029 at a CAGR of 8.2%, driven by rising chronic diseases
- North America dominated the IVD market with a 40.2% share in 2022, valued at USD 32.8 billion
- The point-of-care (POC) diagnostics segment within IVD is expected to register the fastest CAGR of 7.1% from 2023 to 2030 due to demand for rapid testing
- Global IVD market grew by 4.5% in 2022 post-COVID recovery, reaching USD 82.3 billion
- By 2028, the IVD market is projected to hit USD 115.42 billion with a CAGR of 6.3% from 2021 base of USD 78.5 billion
- The molecular diagnostics sub-market in IVD was USD 15.2 billion in 2022, expected to grow at 11.2% CAGR to 2030
- IVD reagents segment accounted for 68.4% of the market revenue in 2022, valued at USD 55.7 billion globally
- Emerging markets in Asia-Pacific are driving IVD growth at 7.8% CAGR from 2023-2030
- The global IVD market is anticipated to reach USD 140 billion by 2032, growing at 5.7% CAGR from 2023's USD 86.4 billion
- Immunoassay segment in IVD held 42% market share in 2023, valued at USD 36.1 billion
- IVD market in hospitals generated USD 28.9 billion in 2022, representing 35.5% of total IVD revenue
- Clinical chemistry analyzers market within IVD was USD 12.6 billion in 2023, projected CAGR 5.4% to 2030
- Post-pandemic, IVD market rebounded with 6.8% growth in 2023 to USD 89.2 billion globally
- The tissue diagnostics segment of IVD is expected to grow at 7.5% CAGR from 2024-2031, from USD 5.8 billion base
- Global IVD consumables market size stood at USD 58.4 billion in 2022, with 6.1% CAGR forecast
- By 2027, IVD market projected at USD 102.8 billion, up from USD 75.6 billion in 2020 at 5.2% CAGR
- Microbiology IVD segment valued USD 8.7 billion in 2023, expected 6.9% CAGR to 2030
- IVD market share of fully automated systems reached 52% in 2022, valued at USD 42.4 billion
- The IVD sector saw investment of USD 4.2 billion in R&D in 2023, boosting growth projections
- Point-of-care IVD market was USD 32.4 billion in 2022, forecasted CAGR 10.2% to USD 70.1 billion by 2030
- Global hematology IVD market size USD 11.5 billion in 2023, 5.8% CAGR expected
- IVD market in low- and middle-income countries grew 9.1% in 2023 to USD 12.3 billion
- Coagulation IVD segment valued at USD 7.9 billion in 2022, 6.3% CAGR to 2030
- The overall IVD market CAGR is projected at 7.4% for 2024-2032, from USD 92.1 billion base
- Diabetes IVD testing market within IVD was USD 22.6 billion in 2023, 8.5% growth forecast
- IVD instruments market revenue USD 26.8 billion in 2022, 4.9% CAGR expected
- Next-gen sequencing in IVD diagnostics valued USD 4.3 billion in 2023, 16.7% CAGR to 2030
- IVD market total revenue hit USD 90.7 billion in 2023 amid rising infectious disease testing
Market Size and Growth Interpretation
While everyone was worrying about the world's health, the in vitro diagnostics industry was quietly building a remarkably healthy and diverse portfolio, proving that understanding disease is a business that's both vital and vitally lucrative.
Product and Technology Segments
- Immunoassay tests dominated IVD product segment with 41.2% share in 2023, valued at USD 35.4 billion globally
- Molecular diagnostics in IVD grew to USD 16.8 billion in 2023, holding 19.5% market share
- Clinical chemistry reagents segment accounted for 28.7% of IVD in 2022, USD 23.4 billion
- Microbiology culture media in IVD valued USD 3.9 billion in 2023, 6.2% CAGR expected
- Hematology analyzers within IVD generated USD 10.2 billion in 2022, 5.6% share
- Point-of-care blood glucose monitoring devices held 55% of POC IVD in 2023, USD 18.1 billion
- PCR-based molecular IVD tests market USD 5.4 billion in 2023, 14.3% CAGR
- Tissue diagnostics microscopes segment USD 1.2 billion in 2022, part of 7.1% growing area
- Coagulation analyzers in IVD valued USD 7.1 billion in 2023, 22% of hemostasis segment
- NGS-based companion diagnostics in IVD USD 2.8 billion in 2022, fastest tech growth at 17.2%
- ELISA kits in immunoassay IVD accounted for 38% share in 2023, USD 13.7 billion
- Fully automated immunoassay analyzers USD 6.5 billion in 2022, 9.8% CAGR
- Biosensors technology in IVD POC grew to USD 4.7 billion in 2023, 11.5% share
- Flow cytometry instruments in IVD USD 3.9 billion in 2022, 7.4% CAGR forecast
- Mass spectrometry in IVD clinical diagnostics USD 1.8 billion in 2023, emerging at 12.1% CAGR
- Lateral flow assays in IVD valued USD 8.2 billion in 2022, dominant in rapid tests
- Digital PCR systems in IVD USD 1.1 billion in 2023, 15.6% growth rate
- Urinalysis test strips and readers USD 2.3 billion in 2022, 5.9% of clinical chemistry
- Chemiluminescence immunoassay tech held 45% of immunoassay IVD in 2023, USD 16.3 billion
- Microfluidics-based IVD devices USD 3.4 billion in 2023, 13.2% CAGR
- Hematology reagents market USD 5.6 billion in 2022, 52% of analyzers revenue
- Companion diagnostic tests using NGS USD 4.1 billion in 2023, 18.9% CAGR projected
- Western blotting in IVD protein analysis USD 0.9 billion in 2022, steady 4.8% growth
- Electrochemical biosensors in IVD USD 2.1 billion in 2023, key POC tech
- Hematology staining reagents USD 1.7 billion in 2022, part of core IVD consumables
- Real-time PCR kits for IVD USD 4.8 billion in 2023, 10.7% share of molecular
- Immunochromatographic assays USD 6.2 billion in 2022, rapid diagnostics leader
- CRISPR-based IVD diagnostics emerging market USD 0.4 billion in 2023, 25.3% CAGR
- Blood gas analyzers in IVD USD 1.5 billion in 2023, critical care focus
- Loop-mediated isothermal amplification (LAMP) in IVD USD 0.6 billion in 2022, POC molecular growth
Product and Technology Segments Interpretation
While immunoassays reign supreme with a $35 billion crown, the relentless and lucrative revolution lies in the molecular trenches where NGS and CRISPR are growing at a double-digit pace, proving the real power is in reading your genetic fine print, not just your basic biochemical billboard.
Regional Insights
- North American IVD market valued at USD 34.5 billion in 2023, holding 40.5% global share
- Europe IVD market size was USD 25.6 billion in 2022, expected to grow at 5.2% CAGR to 2030
- Asia-Pacific IVD market projected to reach USD 40.2 billion by 2030 from USD 22.1 billion in 2023 at 8.9% CAGR
- U.S. IVD market dominated with USD 30.8 billion in 2022, 39% of North America share
- China IVD market grew 12.4% in 2023 to USD 15.7 billion, driven by aging population
- Germany held 28% of European IVD market in 2022, valued at USD 7.2 billion
- India IVD sector valued USD 4.5 billion in 2023, projected CAGR 11.2% to USD 9.8 billion by 2030
- Japan IVD market size USD 8.9 billion in 2022, 4.8% CAGR forecast amid tech advancements
- Latin America IVD market reached USD 5.6 billion in 2023, growing at 7.1% CAGR
- Middle East & Africa IVD market valued USD 3.2 billion in 2022, 9.5% CAGR to 2030 due to infrastructure investments
- U.K. IVD market was USD 4.8 billion in 2023, representing 19% of Europe total
- Brazil IVD industry grew 8.3% in 2023 to USD 2.1 billion, led by private labs
- South Korea IVD market size USD 3.4 billion in 2022, fastest APAC growth at 10.1% CAGR
- France accounted for 15.5% of European IVD market in 2023, USD 4.0 billion revenue
- Australia IVD market valued USD 1.9 billion in 2023, 6.7% CAGR projected
- Russia IVD sector reached USD 2.7 billion in 2022 despite sanctions, 5.9% growth
- Canada IVD market USD 3.7 billion in 2023, 12% of North America share
- Saudi Arabia IVD market grew 11.2% to USD 1.2 billion in 2023 on Vision 2030 investments
- Mexico IVD industry valued USD 1.8 billion in 2022, 7.8% CAGR forecast
- Italy held 12.3% Europe IVD share in 2023, USD 3.2 billion
- Indonesia IVD market USD 1.4 billion in 2023, 13.5% CAGR due to urbanization
- Spain IVD revenue USD 2.9 billion in 2022, 5.4% growth rate
- South Africa IVD market size USD 0.9 billion in 2023, 10.2% CAGR projected
- U.A.E. IVD sector valued USD 0.8 billion in 2022, fastest MEA growth at 12.1%
- Argentina IVD market USD 1.1 billion in 2023, challenged by economic factors but 6.9% CAGR
- Thailand IVD industry grew to USD 1.6 billion in 2023, 9.8% APAC average
- Netherlands IVD market USD 2.1 billion in 2022, 4.7% CAGR
- Turkey IVD revenue USD 2.3 billion in 2023, 8.2% growth
- Egypt IVD market valued USD 0.7 billion in 2022, 11.5% CAGR forecast
Regional Insights Interpretation
The global IVD market reveals a stark diagnostic of its own: while North America currently writes the prescription with its dominant $34.5 billion share, the prognosis points decisively toward Asia-Pacific, whose blistering growth rate will soon have it swallowing the world's diagnostic pills.
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