(EMAILWIRE.COM, February 20, 2025 ) Global In Vitro Clinical Test Equipment market reached US$ 79.5 billion in 2023 and is expected to reach US$ 120.62 billion by 2031, growing at a CAGR of 5.35% during the forecast period 2024-2031.
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Market Dynamics
Rising Global Demand for Advanced Diagnostic Solutions
The increasing prevalence of both chronic and infectious diseases worldwide is a key driver of the growing demand for in vitro diagnostic (IVD) equipment. Chronic conditions such as diabetes, cardiovascular diseases, and cancer require continuous monitoring and precise diagnostic tools to ensure effective treatment planning.
According to the World Health Organization (WHO), nearly 19 million new cancer cases were diagnosed in 2022, with 53.5 million prevalent cases recorded over a five-year period. Lung cancer led with 2.48 million cases, followed closely by breast cancer at 2.29 million. The International Agency for Research on Cancer projects that cancer incidence will rise to 21.3 million cases in 2025 and 24.1 million by 2030. Notably, breast cancer is emerging as the most widespread cancer globally, with advancements in early detection and tumor profiling technologies driving improved diagnosis and treatment outcomes.
Simultaneously, the ongoing threat of infectious diseasesincluding COVID-19, influenza, and newly emerging pathogens has intensified the need for rapid and accurate diagnostic solutions. Portable testing devices, such as molecular diagnostics and immunoassays, play a critical role in public health by enabling swift, reliable, and non-invasive disease detection, ultimately aiding in outbreak control and global health security.
Market Regional Share
Europe Leading the Growth in the In Vitro Clinical Test Equipment Market
Europe is experiencing the fastest growth in the in vitro clinical test equipment market, driven by a rising prevalence of chronic diseases, a well-developed healthcare system, and substantial investments in research and development. The region’s strong regulatory framework further supports the adoption of advanced diagnostic technologies, enhancing market expansion.
The increasing demand for early and accurate disease detection is further amplified by Europe’s aging population, which requires more frequent and efficient diagnostic solutions. Additionally, the presence of major medical device manufacturers, high healthcare awareness, and significant healthcare spending continue to accelerate market growth, positioning Europe as a dominant force in the industry.
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Market Segments
By Product Type
Analyzers
Consumables
Software and Services
By Technology
Clinical Chemistry
Molecular Diagnostics
Immunoassays
Point-of-Care Testing (POCT)
Others
By Application
Infectious Disease Testing
Cancer Diagnostics
Cardiology Testing
Endocrinology Testing
Nephrology Testing
Others
By End user
Hospitals and Clinics
Diagnostic Laboratories
Academic and Research Institutes
Homecare Settings
Others
Market Key Players
Abbott Laboratories, Roche Diagnostics, Thermo Fisher Scientific, Siemens Healthineers, Danaher Corporation (Beckman Coulter, Cepheid), Mindray Bio-Medical Electronics Co., Ltd, Trivitron Healthcare, GenScript.
Emerging Players
PerkinElmer Inc
Agilent Technologies, Inc
Sysmex Corporation
Recent Developments
In September 2023, NeoDx Biotech Labs has introduced a Real-time PCR-Technology-based in vitro diagnostic kit for Ankylosing Spondylitis, enhancing healthcare services’ testing capabilities. The kit, HLA-B27 RT-PCR detection kit for Exon 2/Exon 3, detects Human Leukocyte Antigen B27 in whole blood, a key factor in inflammatory disorders like Ankylosing Spondylitis, Psoriasis, Inflammatory Bowel Disease, and Reactive Arthritis, aiding early diagnosis and treatment.
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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