Growth of global IVD market is driven by rising geriatric population and subsequent growth in the prevalence of chronic and infectious diseases, increasing adoption of fully automated instruments and automation in laboratories, and growing adoption of personalized medicine and point-of-care testing. Development of condition-specific markers and tests and growing demand for IVD products in emerging countries provides significant opportunities for the various stakeholders in this market.
The In Vitro Diagnostics Market (IVD Market) is expected to reach $118.50 billion by 2027, at a CAGR of 7% during the forecast period, 2020 to 2027.
Here are the Top 10 Companies in In Vitro Diagnostics :
Thermo Fisher Scientific Inc.
Founded in 2006 and headquartered at Waltham, the U.S.; Thermo Fisher Scientific Inc. is engaged in providing analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands. The company provides IVD products to hospitals, clinical diagnostics labs, universities, and research institutions. The company operates through four business segments, namely, Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Services. The company offers IVD products under Specialty Diagnostics business segment.
The company has around 2.1 million square feet of office, engineering laboratory, and production space mainly for specialty diagnostics products in Virginia, Kansas, and California, within the U.S. Outside the U.S., the company has production facilities in Sweden, Germany, the U.K., and Switzerland. With its subsidiaries and strong distribution network, the company has presence across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Danaher Corporation
Founded in 1969 and headquartered at Washington, the U.S; Danaher Corporation designs, manufactures, and markets professional, medical, industrial, commercial products, and services. Danaher‘s business consists of four segments: Life Sciences; Diagnostics; Dental; and Environmental & Applied Solutions. The company offers IVD related analytical instruments, reagents, consumables, software, and services under diagnostics business segment. These products are distributed under various brands, namely, APERIO, BECKMAN COULTER, CEPHEID, HEMOCUE, IRIS, LEICA BIOSYSTEMS, MAMMATOME, RADIOMETER and SURGIPATH. The company provides these products to hospitals, physicians‘ offices, reference laboratories, and critical care settings.
With its subsidiaries and strong distribution of network, the company has its presence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The company provides its products through various subsidiaries, namely, Beckman Coulter (U.S.), Cepheid (U.S.), Cepheid (U.S.), Leica Biosystems (Germany), and Radiometer (Denmark). The company has its manufacturing facilities in North America, Europe, Asia, and Australia for diagnostic products.
Abbott Laboratories
Founded in 1888 is headquartered at Illinois, the U.S.; Abbott laboratories is involved in the discovery, development, manufacturing, and sales of healthcare products. The company operates through four business segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and cardiovascular and neuromodulation products. The company offers IVD products under Diagnostics products business segment which comprisesCore Laboratories Diagnostics, Molecular Diagnostics, Point of Care, Rapid Diagnostics, and Ibis Diagnostic Divisions. In October 2017, the company acquired Alere Inc. to strengthen its point of care (part of IVD diagnostics) diagnostics product portfolio.
The company has its presence in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. As of December 2017, the company had headcount of 99,000 employees with more than 28 subsidiaries worldwide including Abbott Laboratories Argentina, S.A., Abbott B.V., and Abbott Manufacturing Singapore Private Ltd.
Bio-Rad Laboratories, Inc.
Founded in 1952 and headquartered in California, the U.S; Bio-Rad Laboratories, Inc. is engaged in the providing instruments, consumables, and software for protein quantitation, cell biology, food safety, protein purification, gene expression, drug discovery & manufacture, and science education. The products and solutions of the company are based on technologies to separate, purify, identify, analyze, and amplify biological materials such as cells, bacteria, antibodies, proteins, and nucleic acids. The company operates through three business segments namely, Life Science, Clinical Diagnostics, and other Operations. The company offers IVD products under its Clinical Diagnostics business segment.
The company provides more than 3,000 products that cover more than 300 clinical diagnostics tests to IVD market. Bio-Rad has its geographic presence in Australia, Brazil, Canada, China, Denmark, France, Germany, India, Israel, Japan, New Zealand, the U.K., the U.S., and others.
Ortho Clinical Diagnostics
Founded in 1994 and headquartered at New Jersey, the U.S.; Ortho Clinical Diagnostics is engaged in manufacturing and providing IVD products to clinical laboratory and immunohematology communities. The company provides its products through Chemistry & Immunodiagnostics and Transfusion Medicine segment. The company offers IVD products such as integrated chemistry systems, immunodiagnostic systems, laboratory automation, and middleware solutions.
With its subsidiaries and network of distribution, the company primarily operates in North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
A report into the projected growth of the current IVD Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2024, it’s expected to have grown at a CAGR of 5.7%, reaching over $ 87.21 billion.
Siemens Healthcare GmbH/Siemens Healthineers
Founded in 1847 and headquartered at Erlangen, Germany; Siemens Healthcare GmbH/Siemens Healthineers is engaged in providing products and services to healthcare industry. The product and services category include medical imaging, laboratory diagnostics, point-of-care-testing, healthcare IT, clinical specialties & diseases, OEM & electronics, and services. In addition, the company provide services such as customer services, enterprise services, and laboratory services. Siemens offer IVD products through Diagnostics business segment.
The company primarily operates in the U.S., Germany, Spain, the U.K., India, China, South Korea, and Brazil.
Sysmex Corporation
Founded in 1968 and headquartered at Kobe, Japan; Sysmex Corporation was formerly known as TOA Medical Electronics Co., Ltd. and changed its name to Sysmex Corporation in October 1998. The company is engaged in development, manufacture, sales, and export/import of diagnostic instruments, reagents, and related software. The company serves to national and other public hospitals, private hospitals, universities, research institutes, and other medical institutions.
With its subsidiaries and network of distribution, the company operates in Americas, Japan, China, EMEA, and Asia-Pacific.
Becton, Dickinson and Company
Founded in 1897 and headquartered at New Jersey, the U.S.; Becton, Dickinson and Company is engaged in the development, manufacture, and sales of a broad range of medical supplies, devices, laboratory equipment, and diagnostic products used by healthcare institutions, life science researchers, clinical laboratories, pharmaceutical industry, and general public. The company‘s operations consist of two business segments, namely, BD Medical and BD Life Sciences. The BD Life Sciences segment provides products for the safe collection and transport of diagnostics specimens, and instruments and reagent systems to detect a broad range of infectious diseases, healthcare-associated infections (―HAIs‖), and cancers.
With its subsidiaries and network of distribution, the company has its presence across the U.S., Europe, and Asia-Pacific.
bioMérieux S.A.
Founded in 1963 and headquartered at Marcy l’Etoile, France; bioMérieux S.A. is engaged in developing and manufacturing IVD solutions (systems, reagents, and software) for reference as well as hospital laboratories, mainly for the diagnosis of infectious diseases.They are also used for detecting microorganisms in agri-food, pharmaceutical, and cosmetic products.
The company operates in North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
DiaSorin S.p.A.
Founded in 1968 and headquartered at Saluggia, Italy; DiaSorin S.p.A. is engaged in developing, manufacturing, and commercializing diagnostic tests for a wide range of clinical areas. The company offer both- high routine tests and specialty tests for a wide range of clinical areas such as infectious diseases, gastrointestinal infections, bone and mineral, endocrinology, hypertension, oncology, onco-hematology, and autoimmunity.
The company has its manufacturing facilities in Europe, Africa, and the U.S. The company distributes its tests and platforms across the globe through its subsidiaries present in Europe, the U.S., Mexico, Brazil, China, Australia, and Israel.
Popular Mentions: Qiagen N.V., Agilent Technologies, Inc., and F. Hoffmann-La Roche Ltd
Authoritative Research on the IVD Market – Global Opportunity Analysis and Industry Forecast (2018-2024)
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- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
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