$161+ Billion Worldwide In-Vitro Diagnostics Industry to 2031 - North America was the Largest Region in 2021 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 2, 2022--

The "Global In-Vitro Diagnostics Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The report provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for in-vitro diagnostics which play a critical role to detect the COVID-19 virus.

The global in-vitro diagnostics market is expected to grow from $83.64 billion in 2021 to $96.49 billion in 2022 at a compound annual growth rate (CAGR) of 15.4%. The market is expected to grow to $161.38 billion in 2026 at a compound annual growth rate (CAGR) of 13.7%.

Companies Mentioned

• Siemens Healthineers
• F. Hoffmann-La Roche ltd.
• Danaher (Beckman Coulter Inc)
• Abbott Laboratories inc.
• Thermo Fisher Scientific Inc.

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The in-vitro diagnostics devices and equipment market consists of sales of in-vitro diagnostic equipment and related services by entities (organizations, sole traders, and partnerships) that produce in-vitro diagnostics equipment. In-vitro diagnostics are tests performed on samples collected from the human body such as tissues and blood.

The main types of in-vitro diagnostics equipment are point-of-care diagnostics devices and equipment, immunochemistry diagnostic devices and equipment, clinical chemistry diagnostics devices and equipment, molecular diagnostics devices and equipment, microbiology diagnostic devices and equipment, hemostasis diagnostic devices and equipment, hematology diagnostic devices, and equipment, and immunohematology diagnostic devices, and equipment. Hematology instruments are machines that analyze blood.

The hematology instruments perform blood counts, detect proteins or enzymes, and help to diagnose illnesses or genetic defects. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others.

North America was the largest region in the global in-vitro diagnostics market in 2021. Asia Pacific was the second largest region in the global in-vitro diagnostics market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Demand for point-of-care diagnostic devices is increasing as they provide rapid results, are cost-effective, and have advanced diagnosis features for patients. The number of patients seeking treatments at local physician offices, retail clinics, and in-patient homes is increasing thus boosting the demand for point-of-care testing devices. Companies in this market are focusing on developing more user-friendly, reliable, and efficient point of care devices.

IVD devices are being integrated with IoT and data analytics technologies to improve device efficiency and increase device security. IoT refers to a system of interconnected devices via communication technologies such as WIFI and Bluetooth for data transfer and accessing devices remotely. Data analytics refers to qualitative and quantitative techniques, used to infer actionable information from large data sets. These technologies are helping in enhancing IVD device functionality, mainly through remote monitoring, predictive maintenance for decreased downtime, and advanced data processing capabilities.

The countries covered in the in-vitro diagnostics devices and equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

For more information about this report visit https://www.researchandmarkets.com/r/1wpckq

View source version on businesswire.com:https://www.businesswire.com/news/home/20221102005937/en/

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SOURCE: Research and Markets

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