In Vitro Diagnostics Market is Expected to Grow at a CAGR over 8.16% from 2017 to 2023 :

Pune, India, June 2021 /press release/- Market Research Future Published a Half-Cooked Research Report on In-vitro diagnostics Market Research Report.


The in-vitro diagnostics market is anticipated to witness healthy growth from 2018 to 2023, a research report suggests. Growing at a CAGR of 8.16%, the market is projected to reach US$102,55 billion by 2023. Growing prevalence of chronic diseases is expected to support the market growth along with growing R&D investments. As predicted by analysts, the lack of reimbursement schemes will negatively affect the market’s performance from 2018 to 2023. During the forecast period, the market will be supported by a rise in patients suffering from diseases and technology developments.

The lack of investments in R&D on the other hand will challenge healthcare sector based organizations functioning in the global in-vitro diagnostics market. Analysts have split the market into technology, product & service, end-user, application, and regions segments based on products and services. Healthcare based companies have been profiled. The lack of investments in research and development is set to affect the global market during the forecast period 2018 to 2023. The report also provides the market’s performance forecasts till 2023. Strategies of healthcare based companies are studied. The healthcare sector itself is supported by the growing incidence of diseases worldwide as well as the aid of point-of-care monitoring systems. During the forecast period 2018 to 2023, the in-vitro diagnostics market is set to witness a healthy growth across technology, product & service, end-user, application, and regions segments as well as regional markets.

Market Segmentation

The healthcare sector has seen growth across technology, product & service, end-user, application, and regions segments owing to the rising demand for new technologies and the prospective growth of the IVD sector. To study the market, analysts have further segmented technology, product & service, end-user, application, and regions into clinical chemistry, hematology, microbiology, molecular diagnostics, immunoassay/immunochemistry, and others on the basis of technology. The market is further segmented into product & service sub segment which is split into data management software, instruments, reagents & kits, and services. Additionally, the in-vitro diagnostics market on the basis of end-user is segmented into laboratories, academic institutions, hospitals, and others. The market is further segmented into application sub segment, which is split into non-infectious diseases and infectious diseases.

The segmental analysis presented in the report provides healthcare field based organizations insights into key growth factors such as favorable government policies as well as challenges such as the shifting preference for cheaper alternatives the market will face from 2018 to 2023. The presence of untapped market opportunities and favorable policies across regional markets are some of the key factors having an influence on healthcare industry based companies, suggest analysts as per the in-vitro diagnostics market report. But the report also identifies the lack of demand from developing countries and the high cost of product and maintenance as major threats companies in healthcare will face till 2023. 

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Regional Overview

healthcare market based companies in the in-vitro diagnostics market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The increasing preference of consumers will be a key growth driver for regional markets. However, the lack of investments from major companies will turn out to be a threat. For the forecast period 2018 to 2023. Each of these regional markets are studied in the report. Starting from North America, the regional market and healthcare vertical based companies are spread across the United States, Mexico, and Canada.

Problems related to supply chain will turn out to be a major challenge from 2018 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the growth of communication channels as well as the rising industrialization, suggests the report. Similarly, the healthcare sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the in-vitro diagnostics market covers the Middle East and Africa. The global in-vitro diagnostics market forecasts based on the findings are presented for the forecast period till 2023.

Competitive Landscape

The global in-vitro diagnostics market research report brings a comprehensive study of technology, product & service, end-user, application, and regions market segments, regional analysis, and healthcare vertical based company details of key players. As the forecast period 2018 to 2023 will bring new opportunities for the market owing to advancements in technology and the increasing awareness among consumers, the market is set to grow at a compound annual growth rate of 8.16% and is predicted to reach a value of US$ 102.55 billion by 2023. With SWOT analysis of healthcare sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as low research and development budgets and the increasing demand for highly skilled professionals, companies in the healthcare sector can change the way business is done.

Industry News

PerkinElmer, Inc. and Immunodiagnostic Systems Holdings PLC have revealed that the two companies have agreed on the terms of a proposed all-cash offer in which PerkinElmer would pay $155 million (£110 million) for IDS. The deal is scheduled to conclude in the third quarter of 2021, subject to shareholder approvals. PerkinElmer would be able to expand its overall Diagnostics operation, as well as its immunodiagnostics area, as a result of this purchase. Furthermore, the agreement will allow PerkinElmer to better serve clients throughout the world by combining its channel experience and testing capabilities with IDS' finest chemiluminescence solutions in endocrinology, autoimmune, and contagious diseases.