Meticulous Research® Reports Significant Growth in In Vitro Diagnostics Market Driven by Rising Infectious Disease Burden

This market is expected to reach $116.3 billion by 2031 from an estimated $80.9 billion in 2024, at a CAGR of 5.3% during the forecast period from 2024 to 2031.

Meticulous Research®, a leading global market research firm, has published an insightful report detailing the current and projected landscape of the in vitro diagnostics (IVD) market, spurred by an increasing prevalence of infectious diseases worldwide. This report underscores the urgent need for effective diagnostic solutions amidst a backdrop of rising epidemiological challenges.

The global burden of infectious diseases has escalated in recent years, marked by notable outbreaks such as SARS, MERS, Ebola, and most recently, COVID-19. As of February 3, 2023, the World Health Organization (WHO) reported over 754 million confirmed COVID-19 cases and nearly 6.8 million deaths, underscoring the critical need for enhanced diagnostic capabilities. Furthermore, tuberculosis remains a significant concern, with approximately 1.6 million fatalities in 2021, highlighting the demand for innovative diagnostic solutions.

Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=4858

Market Insights and Report Scope

This comprehensive report analyzes the IVD market through various lenses, including offerings, technologies, applications, diagnostic approaches, and end users. Key segments include:

• By Offering: Reagents & Kits, Instruments, Software & Services
• By Technology: Molecular Diagnostics (e.g., PCR, DNA Sequencing), Point of Care (POC) Diagnostics, Immunoassay/Immunochemistry, and more
• By Application: Infectious Diseases, Oncology, Diabetes, and additional medical areas
• By Diagnostic Approach: Laboratory Testing, OTC/Self-testing, Point-of-Care Testing
• By End User: Diagnostic Laboratories, Hospitals & Clinics, Home Healthcare, among others

Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/ivd-market-4858

The report highlights a shift toward early diagnosis, facilitating better treatment outcomes and improved patient care. Point-of-care and rapid diagnostics are gaining traction, providing benefits such as cost efficiency, convenience, and quicker result turnaround times. This trend is further fueled by advancements in technology that enable the decentralization of diagnostic testing.

Innovative Developments in Point-of-Care Testing

POC testing is revolutionizing the healthcare landscape by enabling diagnosis at or near the initial point of patient contact. This approach has broad applications, including infectious disease testing, glucose monitoring, and cardiac assessments. The decentralization of IVD testing is being accelerated by key players like Cepheid, which recently received CE mark approval for its Xpert Xpress CoV2/Flu/RSV plus test, delivering rapid results for multiple viral infections.

Despite the advantages of advanced laboratory technologies, challenges remain in developing countries where infrastructure and resources are limited. Efforts to promote awareness and accessibility of rapid diagnostic testing are vital to ensure that all populations benefit from these essential health tools.

Quick Buy: https://www.meticulousresearch.com/Checkout/87380450

Market Projections

Meticulous Research® anticipates the global IVD market will experience robust growth, with a projected CAGR of 4.6%, reaching $130.1 billion by 2030. This growth is driven by the increasing prevalence of infectious diseases and the ongoing efforts of key players to enhance rapid diagnostic capabilities.

For more information and to access the full report, please visit Meticulous Research®.

Contact Information:

Meticulous Research®
Email: sales@meticulousresearch.com
Phone: +1-646-781-8004
LinkedIn: Connect with us