Categories: Healthcare

Global In Vitro Diagnostics Market Size and Forecast 2024-2033 | Siemens Healthineers, F. Hoffmann-La Roche Ltd., Danaher (Beckman Coulter Inc), Abbott Laboratories Inc.

The In Vitro Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s In Vitro Diagnostics Global Market Report 2024, The insurance (providers, brokers and re-insurers) market size has grown strongly in recent years. It will grow from $8277.04 billion in 2023 to $8898.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to risk management needs, regulatory requirements, population growth, catastrophic events.

The insurance (providers, brokers and re-insurers) market size is expected to see strong growth in the next few years. It will grow to $11853.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to emerging risks, digital transformation, demographic changes, sustainable and esg focus, globalization and trade:. Major trends in the forecast period include usage-based insurance (ubi), insurtech innovation, parametric insurance, cyber insurance, peer-to-peer (p2p) insurance.

The rising popularity of self-administered test kits is expected to propel the growth of the in vitro diagnostics market going forward. Self-administered test kits refer to medical or diagnostic kits designed for individuals to use on themselves without the need for medical professionals or trained personnel to administer the test at home. The self-administered test kits enhance accessibility by enabling individuals to perform diagnostic tests at home, offering convenience and potentially increasing demand for testing, particularly for previously undiagnosed conditions. For instance, in April 2022, according to the Centers for Disease Control and Prevention, a US-based national public health agency, there was a significant increase in the use of at-home COVID-19 tests among U.S. adults aged 18 and older from the Delta-predominant period (August to December 2021) to the Omicron-predominant period (December to March 2022). The use of at-home tests among respondents who reported COVID-19-like symptoms increased from 5.7% to 20.1%. Therefore, the rising popularity of self-administered test kits will drive the growth of the in vitro diagnostics market.

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The in vitro diagnostics market covered in this report is segmented –

1) By Type: 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; Immunohematology Diagnostic Devices And Equipment
2) By End User: Hospitals And Clinics; Diagnostic Laboratories; Other End Users
3) By Type of Expenditure: Public; Private
4) By Product: Instruments/Equipment; Disposables

The in vitro diagnostics market report table of contents includes:

1. Executive Summary

2. Report Structure

3. In-Vitro Diagnostics Market Characteristics

4. In-Vitro Diagnostics Market Product Analysis

5. In-Vitro Diagnostics Market Supply Chain

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22. Key Mergers And Acquisitions In The In-Vitro Diagnostics Market

23. Market Background: Medical Equipment Market

24. Recommendations

25. Appendix

26. Copyright And Disclaimer