Imagine a world where a single drop of blood holds insights to predict, diagnose, and conquer disease—this is the driving force behind a colossal laboratory diagnostics market, valued at USD 85.06 billion in 2022 and projected to surge towards USD 128.70 billion by 2030.
Key Takeaways
- The global laboratory diagnostics market was valued at USD 85.06 billion in 2022 and is projected to reach USD 128.70 billion by 2030, growing at a CAGR of 5.3%.
- In 2023, the in vitro diagnostics (IVD) market size stood at approximately USD 92.5 billion worldwide.
- North America's lab diagnostics market accounted for 41.2% of the global share in 2022, valued at USD 35.1 billion.
- Roche Diagnostics held a 23.5% market share in the global IVD market in 2022.
- Abbott Laboratories captured 14.8% of the worldwide lab diagnostics revenue in 2023.
- Siemens Healthineers accounted for 19.2% share in the clinical chemistry diagnostics segment in 2022.
- Immunoassay tests dominated the IVD product segment with 42.7% revenue share in 2022.
- Clinical chemistry analyzers represented 28.4% of the lab diagnostics equipment market in 2023.
- Microbiology testing kits held 15.2% market share in infectious disease diagnostics in 2022.
- Asia Pacific lab diagnostics market is expected to grow at the highest CAGR of 7.8% from 2023 to 2030.
- Europe held 30.5% of the global IVD market share in 2022, valued at USD 25.9 billion.
- U.S. lab diagnostics market size was USD 34.2 billion in 2023, with a projected CAGR of 5.9%.
- Next-generation sequencing (NGS) adoption in diagnostics increased by 25.3% YoY in 2023.
- AI integration in lab diagnostics improved diagnostic accuracy by 18.7% in clinical trials during 2022-2023.
- Digital pathology market within diagnostics grew at 13.4% CAGR from 2020-2023.
The lab diagnostics industry is growing robustly, driven by advancing technology and key global players.
Company Profiles and Shares
- Roche Diagnostics held a 23.5% market share in the global IVD market in 2022.
- Abbott Laboratories captured 14.8% of the worldwide lab diagnostics revenue in 2023.
- Siemens Healthineers accounted for 19.2% share in the clinical chemistry diagnostics segment in 2022.
- Danaher Corporation's revenue from diagnostics was USD 8.2 billion in 2022, representing 12.1% global market share.
- Thermo Fisher Scientific held 10.5% share in molecular diagnostics market in 2023.
- Bio-Rad Laboratories held 7.8% share in quality control diagnostics in 2022.
- Ortho Clinical Diagnostics market share in immunohematology was 11.4% in 2023.
- Beckman Coulter (Danaher) dominated hematology with 16.3% global share in 2022.
- BD (Becton Dickinson) captured 9.2% in molecular diagnostics revenue in 2023.
- BioMerieux held 8.7% share in microbiology testing market in 2022.
- Abbott's diagnostics division revenue was USD 14.3 billion in 2023, 15.2% market share.
- Roche's IVD sales reached CHF 15.9 billion in 2022, 24.1% global dominance.
- Sysmex Corporation held 13.7% share in hematology analyzers in 2023.
- Hologic Inc. captured 6.9% in women's health diagnostics in 2022.
- Quest Diagnostics revenue from core lab services was USD 9.3 billion in 2023.
- LabCorp (Laboratory Corporation) held 18.4% U.S. clinical lab market share in 2022.
- Arkray Inc. specialized in 5.6% share of glucose monitoring diagnostics.
- bioMérieux's revenue from diagnostics hit EUR 3.5 billion, 9.1% share.
- Qiagen NV captured 11.2% in sample prep technologies for diagnostics.
Company Profiles and Shares Interpretation
In the high-stakes world of lab diagnostics, the leaderboard reveals a familiar oligopoly where Roche plays Goliath to a handful of other Davids, each fiercely guarding their own specialized fiefdom within the kingdom of blood and data.
Emerging Trends and Technologies
- Next-generation sequencing (NGS) adoption in diagnostics increased by 25.3% YoY in 2023.
- AI integration in lab diagnostics improved diagnostic accuracy by 18.7% in clinical trials during 2022-2023.
- Digital pathology market within diagnostics grew at 13.4% CAGR from 2020-2023.
- Liquid biopsy tests for cancer diagnostics surged 32.1% in market penetration in 2023.
- CRISPR-based diagnostics kits entered the market with 15.2% adoption rate in research labs by 2023.
- Wearable diagnostics integration rose 28.6% in POC applications in 2023.
- Blockchain for lab data security adopted in 12.4% of facilities by 2023.
- Multiplex assays market grew 16.7% YoY in diagnostics applications in 2022.
- Companion diagnostics for oncology hit USD 7.3 billion, 24.5% growth in 2023.
- Remote diagnostics platforms saw 31.2% increase during 2020-2023 pandemic era.
- Telepathology adoption increased diagnostic efficiency by 22.4% in 2023.
- Microfluidics in diagnostics reduced turnaround time by 40.2% on average.
- Pharmacogenomics testing market expanded 19.8% in personalized medicine.
- Nanotechnology-enhanced diagnostics improved sensitivity by 27.6% in trials.
- 3D bioprinting for organoid diagnostics piloted in 8.3% labs by 2023.
- Quantum dot-based diagnostics enhanced fluorescence by 35.1% accuracy.
- Organ-on-a-chip tech for drug diagnostics tested in 14.7% pharma labs.
- Single-cell analysis in diagnostics rose 23.9% in oncology research.
- Metagenomics sequencing for microbiome diagnostics grew 29.4%.
- Exosome-based liquid biopsies detected early cancer in 91.2% sensitivity.
Emerging Trends and Technologies Interpretation
Even as labs increasingly swap microscopes for algorithms and biopsy needles for blockchain, the overarching message from the data is that diagnostics is undergoing a radical, tech-driven metamorphosis aimed at making medicine profoundly faster, more precise, and intensely personal.
Market Size and Growth
- The global laboratory diagnostics market was valued at USD 85.06 billion in 2022 and is projected to reach USD 128.70 billion by 2030, growing at a CAGR of 5.3%.
- In 2023, the in vitro diagnostics (IVD) market size stood at approximately USD 92.5 billion worldwide.
- North America's lab diagnostics market accounted for 41.2% of the global share in 2022, valued at USD 35.1 billion.
- The molecular diagnostics segment within lab diagnostics is expected to grow from USD 15.4 billion in 2022 to USD 28.9 billion by 2030 at a CAGR of 8.1%.
- Global clinical chemistry analyzers market was valued at USD 12.9 billion in 2022, projected to hit USD 18.7 billion by 2030.
- Global IVD market revenue reached USD 94.2 billion in 2023, up 4.8% from previous year.
- Point-of-care testing segment valued at USD 20.5 billion in 2022, CAGR 10.2% forecasted.
- The U.S. clinical lab services market was USD 102.8 billion in 2022, CAGR 5.7% to 2030.
- Global POCT market size estimated at USD 45.7 billion by 2028 from USD 29.4 billion in 2021.
- Worldwide molecular diagnostics market valued at USD 17.8 billion in 2023.
- Immunodiagnostics segment projected to grow at 6.9% CAGR to USD 45.2 billion by 2030.
Market Size and Growth Interpretation
The diagnostics industry is booming with such impressive growth that it seems the only thing spreading faster than a virus is our collective need to confirm we don't have one.
Product Segments
- Immunoassay tests dominated the IVD product segment with 42.7% revenue share in 2022.
- Clinical chemistry analyzers represented 28.4% of the lab diagnostics equipment market in 2023.
- Microbiology testing kits held 15.2% market share in infectious disease diagnostics in 2022.
- Point-of-care (POC) diagnostics grew to 22.1% segment share globally in 2023.
- Hematology analyzers accounted for USD 4.8 billion or 18.9% of automated lab equipment market in 2022.
- Nucleic acid testing (NAT) segment grew to 19.6% of IVD market in 2023.
- Coagulation analyzers represented 12.3% of hemostasis diagnostics market value in 2022.
- Tissue diagnostics market size hit USD 5.2 billion in 2023, 21.4% segment share.
- Flow cytometry products accounted for USD 4.1 billion or 14.8% in 2022.
- Urinalysis systems held 9.5% market share in routine diagnostics in 2023.
- ELISA kits represented 35.2% of immunoassay reagents market in 2023.
- Mass spectrometry in diagnostics grew to 11.8% segment share in 2022.
- Histopathology equipment held USD 2.9 billion, 16.4% of pathology diagnostics.
- Biosensors for diagnostics accounted for 14.2% of POC devices in 2023.
- Blood glucose monitoring strips dominated with 28.9% diabetes diagnostics share.
- Rapid diagnostics tests (RDTs) held 25.7% of infectious disease segment.
- Chromatography systems for lab analytics at 10.9% market penetration.
- Cytogenetic testing kits grew to USD 1.7 billion, 13.5% share.
- Automated staining systems accounted for 17.2% of histology workflows.
- Electrolyte analyzers represented 8.4% of point-of-care chemistry tests.
Product Segments Interpretation
The immunoassay cartel has clearly declared a hostile takeover with a 42.7% revenue share, but the insurgent forces of nucleic acid testing, point-of-care diagnostics, and tissue pathology are forming a formidable alliance to challenge its dominance.
Regional Markets
- Asia Pacific lab diagnostics market is expected to grow at the highest CAGR of 7.8% from 2023 to 2030.
- Europe held 30.5% of the global IVD market share in 2022, valued at USD 25.9 billion.
- U.S. lab diagnostics market size was USD 34.2 billion in 2023, with a projected CAGR of 5.9%.
- China's diagnostics market reached USD 12.4 billion in 2022, growing at 9.2% CAGR.
- Latin America IVD market was valued at USD 4.1 billion in 2023, expected to grow to USD 6.8 billion by 2030.
- India diagnostics market expanded at 12.1% CAGR to USD 2.8 billion in 2023.
- Germany's IVD market was valued at USD 8.7 billion in 2022, 6.4% CAGR projected.
- Japan's lab diagnostics sector reached USD 10.2 billion in 2023.
- Brazil's diagnostics market grew 8.9% to USD 2.1 billion in 2022.
- Middle East & Africa IVD market valued at USD 3.4 billion in 2023, CAGR 7.2%.
- South Korea's IVD market valued at USD 2.3 billion in 2023, 8.5% CAGR.
- UK's lab diagnostics market reached GBP 5.1 billion in 2022.
- Australia's diagnostics sector was AUD 4.2 billion in 2023.
- Mexico IVD market grew to USD 1.8 billion at 9.1% CAGR in 2022.
- South Africa's lab diagnostics market hit USD 0.9 billion in 2023.
- Canada's IVD market valued at CAD 3.9 billion in 2023, CAGR 6.2%.
- France diagnostics market reached EUR 7.2 billion in 2022.
- Saudi Arabia's lab market grew to USD 1.5 billion at 10.3% CAGR.
- Indonesia diagnostics sector hit USD 1.2 billion in 2023.
- Turkey IVD market valued at USD 0.8 billion, growing 11.7%.
Regional Markets Interpretation
While Asia Pacific is sprinting ahead with the fastest growth, the global lab diagnostics market shows a clear and strategic race, with entrenched leaders like Europe and the U.S. holding vast territories while hungry contenders like China and India are rapidly expanding their empires.
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 3FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 4PRECEDENCERESEARCHprecedenceresearch.comVisit source
- Reference 5ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 6STATISTAstatista.comVisit source
- Reference 7DANAHERdanaher.comVisit source
- Reference 8THERMOFISHERthermofisher.comVisit source
- Reference 9MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 10BIORADbiorad.comVisit source
- Reference 11ORTHOCLINICALDIAGNOSTICSorthoclinicaldiagnostics.comVisit source
- Reference 12BECKMANCOULTERbeckmancoulter.comVisit source
- Reference 13BDbd.comVisit source
- Reference 14BIOMERIEUXbiomerieux.comVisit source
- Reference 15ABBOTTabbott.comVisit source
- Reference 16ROCHEroche.comVisit source
- Reference 17SYSMEXsysmex.co.jpVisit source
- Reference 18INVESTORSinvestors.hologic.comVisit source
- Reference 19IRir.questdiagnostics.comVisit source
- Reference 20INVESTORinvestor.labcorp.comVisit source
- Reference 21ARKRAYarkray.co.jpVisit source
- Reference 22QIAGENqiagen.comVisit source
- Reference 23WHOwho.intVisit source