In-vitro Diagnostics Market Outlook:
In-vitro Diagnostics Market size was valued at USD 102.16 billion in 2024 and is set to exceed USD 197.24 billion by 2034, expanding at over 6.8% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of in-vitro diagnostics is evaluated at USD 108.06 billion.
Key In-vitro Diagnostics Market Insights Summary:
North America is expected to secure the largest share in the in-vitro diagnostics market by the end of 2034.
The Asia Pacific region is projected to witness the fastest growth during the forecast timeline, supported by stabilizing economies, expanding middle-class demographics, and accelerated urban development.
The instruments segment is projected to dominate the in-vitro diagnostics market by 2034, reflecting its critical role in diagnostics technology.
The oncology segment is anticipated to experience notable growth throughout the forecast period.
Key Growth Trends:
- Increasing Awareness Towards Point-Of-Care Testing from Centralized Testing
- Rise in Incidences of Chronic and Infectious Diseases
Key Players:
- Abbott Laboratories, Roche Diagnostics, DiaSorin S. p. A., Johnson & Johnson corporation, Becton, Dickinson and Company, Siemens Healthineers, Danaher Corporations, Bio-Rad Laboratories, Thermo Fisher Scientific, Pfizer Inc.
Market Size and Growth Projections:
- 2024 Market Size: USD 102.16 billion
- 2025 Market Size: USD 108.06 billion
- Projected Market Size: USD 197.24 billion by 2034
- Growth Forecasts: 6.8% CAGR (2025-2034)
- Largest Region: North America
- Fastest Growing Region: North America
The market growth is driven by rising demand for PoC and home tests, and laboratory-based tests as these are more dependable due to their higher accuracy. Moreover, increase in hospitalizations that need support from quicker diagnostics will boost the expansion of healthcare infrastructure. As a result, there is a growing need for IVD testing performed in hospitals. Hospitals purchase the majority of IVD equipment and use it extensively. Because IVD tests yield quicker and more precise findings, approximately 6,093 hospitals in the U.S. was predicted to depend constantly on IVD assistance for essential decision-making in 2022.
In-vitro Diagnostics Market Growth Drivers and Challenges:
Growth Drivers
- Increasing Awareness Towards Point-Of-Care Testing from Centralized Testing - With rising cases of COVID-19 across the globe have increased the adoption of point-of-care testing devices that are a great influence on the need to make healthcare more focused on patients. For instance, till October 2022, there have been 623,000,396 confirmed cases of COVID-19, including 6,550,033 deaths, as reported by WHO. The need to deliver care closer to the patient has increased the volume of testing performed outside the conventional laboratory.
- Rise in Incidences of Chronic and Infectious Diseases - The substantial rise in chronic diseases such as cardiovascular, respiratory, and gastrointestinal infections, asthma, diabetes, arthritis, tuberculosis, and cancer patients is expected to increase the demand for diagnostic devices, which is likely to drive the market. According to the data from the WHO, 262 million people suffer from asthma.
- Incorporation of Artificial Intelligence and Internet of Things in IVD Equipment - Advanced technologies such as artificial intelligence and the internet of things infused in in-vitro diagnostics work in assisting remote monitoring and patient management, which creates new opportunities for the coming years, which leads to the growth of the in-vitro diagnostics market. As per the data from the World Bank, 2.33% of the global GDP was spent on research and development activities in 2019, which increased to 2.63% in 2020.
- Rising Healthcare Expenditure- As per the data by the World Bank, 9.83% of the global GDP was spent on health expenditure in 2019.
- Growing Adoption and Rising Demand for Personalized Medicine - The growth in self-monitoring personalized treatment such as cholesterol testing, blood glucose monitoring, hemoglobin sensors, and more, is likely to rise demand for personalized care and medicines, which leads to the growth of the market. For instance, in 2020, 3 million people were using self-glucose monitoring machines, which rose to 4 million people in 2021.
Challenges
- High Cost of Diagnostic Services and Machinery Maintenance
- Unfavorable Reimbursement Scenario The routine tests performed at hospitals and laboratories are being reduced due to unfavorable reimbursement policies. Considering this, many market players have observed a decline in sales. For instance, Abbott Laboratories has witnessed a decline of -3.9%.
- Lack of Awareness among People
In-vitro Diagnostics Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
6.8% |
|
Base Year Market Size (2024) |
USD 102.16 billion |
|
Forecast Year Market Size (2034) |
USD 197.24 billion |
|
Regional Scope |
|
In-vitro Diagnostics Market Segmentation:
Product Type (Instruments, Reagents & Consumables)
The instruments segment is predicted to account for largest in-vitro diagnostics market share by 2034, propelled by faster detection of chronic diseases and genetic disorders.
Application (Infectious Diseases, Cardiology, Oncology, Gastroenterology)
The oncology segment is expected to grow substantially during the forecast period, owing to the growing cases of cancer worldwide. According to the WHO data, over 10 million deaths were caused by cancer in 2020.
Our in-depth analysis of the global market includes the following segments:
|
By Product Type |
|
|
By Test |
|
|
By Application |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
In-vitro Diagnostics Market Regional Analysis:
The North America in-vitro diagnostics market is estimated to account for largest share by the end of 2034, driven by increasing requirement of genetic testing for personalized health care, diabetes, and cancer. According to the International Diabetes Federation (IDF), it was estimated that around 32.2 million people in the U.S., were suffering from diabetes in 2021.
The market in the Asia Pacific region is expected to be the fastest-growing during the forecast period, owing to presence of stabilizing economies, the rapid growth of the middle-class population, and rapid urbanization.
Key In-vitro Diagnostics Market Players:
- Abbott Laboratories
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Roche Diagnostics
- DiaSorin S. p. A.
- Johnson & Johnson corporation
- Becton, Dickinson and Company
- Siemens Healthineers
- Danaher Corporations
- Bio-Rad Laboratories
- Thermo Fisher Scientific
- Pfizer Inc.
Recent Developments
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Abbott Laboratories received US FDA clearance for the Freestyle libre 2 iOS application for use with compatible iPhones.
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Roche Diagnostics launched the Cobas pulse system, a blood glucose management solution with mobile digital health capabilities to improve patient care.
- Report ID: 1354
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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In-vitro Diagnostics Market Report Scope
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