What are the recent trends in market size and growth for the bioinformatics in in-vitro diagnostics (ivd) testing market?
The bioinformatics in in-vitro diagnostics (IVD) testing market size has grown strongly in recent years. It will grow from $93.02 billion in 2024 to $99.69 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to improved healthcare infrastructure, expansion of biobanks, rising geriatric population, government initiatives and funding, and growth of personalized medicine.
The bioinformatics in in-vitro diagnostics (IVD) testing market size is expected to see strong growth in the next few years. It will grow to $129.89 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising prevalence of diseases, integration of IT in healthcare, government initiatives and funding, the shift towards personalized medicine, enhanced awareness about the benefits of bioinformatics in diagnostics among healthcare providers, and the decreasing cost of genomic sequencing. Major trends in the forecast period include artificial intelligence (AI) and machine learning, next-generation sequencing, point-of-care (POC) testing, cloud computing and big data, and innovations in immunochemical techniques.
Get Your Free Sample of The Global Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16629&type=smp
How have varous drivers impacted the growth of the bioinformatics in in-vitro diagnostics (ivd) testing market?
The increasing prevalence of cancer is expected to propel the growth of the bioinformatics in IVD testing market going forward. Cancer is a broad term to describe a group of diseases characterized by abnormal cell growth that can invade and spread to other body parts. The increasing prevalence of Cancer is due to various factors related to exposure, lifestyle, and environmental influences. Bioinformatics in IVD testing transforms cancer diagnostics by providing precise, personalized, and comprehensive genetic insights that enhance early detection, treatment decisions, and patient outcomes. For instance, in 2022, according to the National Association of Chronic Disease Directors (NACDD), a US-based government agency, Approximately 40% of American adults live with multiple chronic conditions (MCC), and growing evidence shows that having one chronic illness increases the risk of developing additional ones, especially with age. Therefore, the increasing prevalence of Cancer drives the bioinformatics in the IVD testing market.
What are the primary segments of the bioinformatics in in-vitro diagnostics (ivd) testing market?
The bioinformatics in in-vitro diagnostics (IVD) testing market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Type Of Test: Blood Based Tests, Tissue Based Tests
3) By Application: Cardiovascular Diseases, Chronic Diseases, Diabetes, Cancer, Other Applications
Subsegments:
1) By Hardware: Analyzers, Laboratory Equipment, Data Storage Devices, Sensors And Detectors, Workstations And Data Processing Hardware
2) By Software: Bioinformatics Platforms, Data Management and Integration Software, Analytics And Interpretation Software, Cloud-Based Software Solutions, AI-Based Software For Diagnostics
Order your report now for swift delivery
Which firms are leading the bioinformatics in in-vitro diagnostics (ivd) testing market?
Major companies operating in the bioinformatics in in-vitro diagnostics (IVD) testing market are Siemens Healthineers, International Business Machines Corporation, Medtronic Inc., Parker Hannifin Corp., Illumina Inc, PerkinElmer Inc., QIAGEN N.V., Kollmorgen Corp, Bioreference Laboratories Inc., AssureRx Health Inc., Biodesix Inc., Crescendo Bioscience Inc., Affymetrix, Complete Genomics Inc., Aperico Technologies Inc., One Lambda Inc., Datech Oncology, Life Technologies, Signal genetics, CardioDx Inc.
How will industry trends affect the trajectory of the bioinformatics in in-vitro diagnostics (ivd) testing market?
Major companies operating in the bioinformatics in the IVD testing market are focused on developing innovative solutions such as next-generation sequencing (NGS) technology to enhance the detection and analysis of genetic mutations, improve diagnostic accuracy, and facilitate personalized medicine approaches. Next-generation sequencing (NGS) is a high-throughput technology that allows for the rapid sequencing of entire genomes or specific regions of DNA and RNA, enabling comprehensive genetic analysis. For instance, in May 2022, Illumina Inc., a US-based biotechnology company, launched a new pan-cancer companion diagnostic (CDx) indication for its CE-marked TruSight Oncology Comprehensive (EU) test. It allows the test to identify cancer patients with solid tumors who have neurotrophic tyrosine receptor kinase (NTRK) gene fusions, including NTRK1, NTRK2, or NTRK3 and may benefit from targeted therapy with Bayer’s drug Vitrakvi (larotrectinib). The TSO Comprehensive (EU) test is a comprehensive genomic profiling (CGP) assay that includes next-generation sequencing, which analyzes multiple tumor genes and biomarkers from a single biopsy specimen to determine a patient’s specific cancer molecular profile
Which geographic trends are shaping the bioinformatics in in-vitro diagnostics (ivd) testing market, and which region has the highest market share?
North America was the largest region in the bioinformatics in in-vitro diagnostics (IVD) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioinformatics in in-vitro diagnostics (IVD) testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market Report 2025 Offer?
The bioinformatics in in-vitro diagnostics (ivd) testing market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Bioinformatics in in vitro diagnostics (IVD) refers to the application of computational methods, data analysis, and software tools to interpret and analyze biological data generated from in vitro diagnostic tests. It involves using algorithms and statistical models to process large volumes of molecular and clinical data from diagnostic tests conducted outside the living organism (in vitro).
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16629
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
