In Vitro Diagnostics Enzymes Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size–
The in vitro diagnostics enzymes market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing incidence of diseases such as cancer and HIV/AIDS, growing need for diagnostic testing and monitoring of age-related diseases, shifts in lifestyle factors, including diet and physical activity, rise in approval of new diagnostic assays and products by regulatory authorities, and higher healthcare expenditures globally.
The in vitro diagnostics enzymes market size is expected to see strong growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing focus on personalized healthcare, growing healthcare infrastructure, rising disposable incomes in emerging markets, rise in collaborations between companies and research institutions, and increasing demand for rapid and convenient diagnostic solutions. Major trends in the forecast period include the adoption of microfluidics technologies, development of novel enzyme substrates and detection methods, use of point-of-care molecular diagnostic platforms integrated enzyme-based amplification techniques, integration of CRISPR-based technologies with enzyme assays, use of liquid biopsy techniques, and utilization of advanced data analytics and bioinformatics tools.
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Scope Of In Vitro Diagnostics Enzymes MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
In Vitro Diagnostics Enzymes Market Overview
Market Drivers -The rising prevalence of cancer is expected to propel the growth of the in vitro diagnostics enzymes market going forward. Cancer is a term used to describe a group of disorders in which abnormal cells grow and divide uncontrollably, with the potential to invade and harm healthy bodily tissue. The prevalence of cancer is increasing due to infectious agents, immune dysfunction, and hormonal influences. In vitro diagnostics (IVD) enzymes are indispensable in various diagnostic and monitoring assays throughout the cancer care continuum, from early detection and diagnosis to treatment selection, monitoring, and personalized medicine approaches. For instance, in February 2024, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, there is anticipated to be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022. Therefore, the rising prevalence of cancer is driving the growth of the in vitro diagnostics enzymes market.
Market Trends – Major companies operating in the in vitro diagnostic enzymes market are focusing on developing innovative products, such as autoimmune disorder detection kits, to sustain their position in the market. Autoimmune disorder detection kits are diagnostic tools designed to identify the presence of autoimmune diseases, where the body’s immune system mistakenly attacks its tissues. For instance, in September 2023, NeoDx Biotech Labs Pvt Ltd., an Indian-based manufacturer of in-vitro diagnostic kits, launched the IVD kit for detecting autoimmune disorders. This innovative launch integrates cutting-edge technology, including advanced immunoassays, molecular diagnostics, and antibody detection methods, to accurately identify specific autoantibodies and biomarkers associated with autoimmune conditions. The kit’s features include its high sensitivity and specificity, which empower clinicians to diagnose autoimmune diseases swiftly and confidently in patients.
The in vitro diagnostics enzymes market covered in this report is segmented –
1) By Enzyme Type: Proteases, Polymerase And Transcriptase, Ribonuclease, Other Enzyme Types
2) By Disease Type: Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Other Disease Types
3) By Technology: Histology Assays, Molecular Diagnostics, Clinical Chemistry, Other Technologies
4) By End Use: Pharma And Biotech, Hospital And Diagnostic Labs, Contract Research Organizations (CROs), Academic Labs
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Regional Insights – North America was the largest region in the in vitro diagnostics enzymes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in vitro diagnostics enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the in vitro diagnostics enzymes market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Siemens Healthineers AG, Becton Dickinson and Company, Agilent Technologies Inc., Grifols SA, Hologic Inc., Illumina Inc., Mindray Medical International Limited, PerkinElmer Inc., bioMérieux SA, QuidelOrtho Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., DiaSorin SpA, Promega Corporation, Randox Laboratories Ltd., Meridian Bioscience Inc., Fujirebio Diagnostics Inc., Sekisui Diagnostics LLC, Trivitron Healthcare, Codexis Inc., Amicogen Inc., EKF Diagnostics Holdings plc, Advanced Enzymes Technologies Ltd., Biocatalysts Ltd., Alpha Laboratories Ltd.
Table of Contents 1. Executive Summary2. In Vitro Diagnostics Enzymes Market Report Structure3. In Vitro Diagnostics Enzymes Market Trends And Strategies4. In Vitro Diagnostics Enzymes Market – Macro Economic Scenario5. In Vitro Diagnostics Enzymes Market Size And Growth…..27. In Vitro Diagnostics Enzymes Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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