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In Vitro Diagnostics (IVD) Market to Jump to $74 Billion
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In Vitro Diagnostics (IVD) Market to Jump to $74 Billion

In Vitro Diagnostics (IVD) Market to Jump to $74 Billion

by Big Market ResearchJuly 27, 2015


In vitro diagnostics (IVD) is the technique of diagnostic test outside the human body in an artificial environment. The IVD market revenue is expected to reach $74.65 billion by 2020, from the market value of $53.32 billion in 2013, at a CAGR of 5.34% during 2014-2020. The global IVD market is segmented based on techniques, product type, usability, application, end user and geography (North America, Europe, Asia Pacific and Rest of World). Geographically, Asia Pacific is the fastest growing region and very opportune market that would generate highest revenue by 2020.

Increase in the number of chronic and infectious diseases, and technological advancements are the major driving factors for the market. Widespread knowledge of healthcare & its benefits, and cost effectiveness are some top impacting factors of the global IVD market. The stringent regulatory policies and reimbursement issues are limiting the growth of the market. Furthermore, the rising demand for technologically advanced diagnosis devices and increased spending capabilities of consumers on health care provides huge potential for IVD in Asia Pacific market.

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IVD Techniques Market Analysis

Global IVD techniques market is been segmented based on immunoassays, clinical chemistry, point of care, molecular diagnostics, hematology, coagulation, microbiology and other clinical techniques. Point of care is the highest revenue-generating segment in the overall IVD techniques market. Molecular diagnostics is the fastest growing technique in the in the overall IVD techniques market due to its ability to detect the primary cause of the disease accurately

IVD Product Type Market Analysis

The product type segment is been segmented based on instruments, reagents, data management systems and services. Instruments hold the highest market share in the global IVD market followed by reagents. Reagents market is also growing at a faster pace. As it is mostly used in various equipment and play a key role in the overall diagnosis process. Rise in the usage of diagnostic devices in which reagents are required for performing diagnosis tests, is the major factor that drives the product type market.

IVD Applications Market Analysis

The application area is segmented based on infectious diseases, diabetes, cancer/oncology, cardiology, autoimmune diseases, nephrology, drug testing, HIV/AIDS and others. Infectious diseases generated the highest revenue for current and forecast period mainly due to rise in the incidences of infectious diseases. HIV/AIDS application market is the second largest revenue generating applications segment and would remain the second largest through 2020.

IVD Competitive Analysis

The study of top ten players in the global market reveals strategies adopted to maintain their position in the competitive market. Strategic analysis of the top players reveals that market players are adopting product launch as their key developmental strategy in the market, as the market players are innovating novel products to expand their product line. Acquisitions and approvals are some additional strategies adopted by the companies in the market to enhance their services and expand their reach across the globe.

IVD High Level Analysis

The market exploration provides a clear view of global IVD market. Porter’s five-force model helps in analyzing market players, new entrants in the market and the novel strategies adopted by them. In the current business scenario, IVD market has moderate bargaining power of supplier due to existence of brand loyalty. Varying product differentiation would lead to moderate buyers’ bargaining. High entry barriers lead to lower threat of new entrants. Intersegment substitution leads to lower threat of Substitute. The value chain analysis reveals the key intermediaries involved in the supply chain. Raw material suppliers, medical device manufacturers, distributors, service providers and end users are the various stakeholders involved in the supply chain of IVD market.

Reason For Study

IVD is the oldest technique for diagnosis of the disease. With increase in incidences of chronic and infectious diseases and rise in healthcare awareness amongst patients, the market is opportunistic in different geographies. As there is a shift from traditional diagnostic devices to advanced diagnostic devices, IVD would prove to be a lucrative market in future.

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Key Deliverables

  • Assessments are made according to the current business scenario and the future market trends are forecast for the period 2013-2020, with the base figures of the year 2013
  • The analysis gives a wider view of the global market including its market trends, market structure, limiting factors and opportunities for the market
  • Porter’s five force’s model helps in analyzing the potential of buyers & suppliers, and the competitive sketch of the market, which would guide the market players to develop strategies accordingly
  • The value chain analysis provides a systematic study on the key intermediaries involved, which would in turn help the stakeholders in the market to make appropriate strategies
  • The advantages of the market are analyzed to help the stakeholders identify the opportunistic areas in a comprehensive manner

Key Market Segments

Market By Techniques

  • Immunoassays
  • Clinical Chemistry
  • Point Of Care
  • Molecular Diagnostics
  • Hematology
  • Coagulation
  • Microbiology
  • Other clinical techniques

Market By Product Type

  • Instruments
  • Reagents
  • Data management systems
  • Services

Market By Usability

  • Disposable
  • Reusable

Market By Applications

  • Infectious Diseases
  • Diabetes
  • Cancer/Oncology
  • Cardiology
  • Autoimmune Diseases
  • Nephrology
  • Drug Testing
  • HIV/AIDS
  • Others

Market By End User

  • Hospitals
  • Laboratories
  • Academics
  • Point of Care Testing
  • Others

Market By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

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