IVD instruments market to grow by USD 52.9B from 2024-28

The global in-vitro diagnostics instruments market size is estimated to grow by USD 52.9 billion from 2024-2028. The market is estimated to grow at a CAGR of 9.29% during the forecast period. Growing geriatric population is driving market growth, with a trend towards potential opportunities for physician office laboratories (POL). However, strained laboratory budgets and lowering reimbursements affecting instrument sales poses a challenge.

Market driver
In-Vitro Diagnostics (IVD) instruments market growth is driven by the increasing adoption of Point of Care (POL) testing in primary and outpatient care. POL testing, particularly in infectious disease markers, cardiovascular diseases, and diabetes care, is gaining popularity due to its convenience and quick results. Portable IVD instruments are advancing technically, enabling clinicians to perform tests in-house. The CLIA testing for molecular assays in POL practices is expected to fuel market growth. However, certain regulatory aspects regarding CLIA-waived testing may impact market expansion. Despite these challenges, the global IVD instruments market is projected to experience average growth due to the increasing trend towards POL testing.

The In Vitro Diagnostics Instruments Market is experiencing significant growth due to the rising demand for accurate and rapid medical tests. With a focus on infectious diseases such as Malaria and Chikungunya, the market is seeing increased adoption of advanced technologies like Next-Generation Sequencing (NGS) for pathogen detection. Laboratory technicians play a crucial role in this sector, handling various samples like blood, serum, plasma, urine, saliva, and tissues. Blood banks, home care settings, pharmaceutical companies, biotechnology firms, academic institutes, and non-communicable disease segments are key end-users. Infectious diseases and chronic conditions including cardiology, gastroenterology, and cancer are major application areas. The aging population and the rise of molecular diagnostics for diseases like Alzheimer’s and various cancers further fuel market expansion. In vitro diagnostics instruments offer efficiency, accuracy, and convenience in the laboratory environment, making them an essential tool for healthcare providers.

Research analysis
In vitro diagnostics refer to medical tests conducted outside of a living organism, using samples of bodily fluids, tissues, or other specimens. These tests play a crucial role in the detection and diagnosis of various diseases, including infectious diseases such as Zika, Malaria, and Chikungunya, as well as chronic conditions like cardiovascular diseases, cancer, and endocrine disorders. The laboratory environment is essential for the accurate and reliable performance of these tests. In vitro diagnostics are used extensively in clinical laboratories to diagnose non-communicable diseases such as heart disease, stroke, high blood cholesterol, and Alzheimer’s disease. Molecular diagnostics and pathogen detection are advanced areas of in vitro diagnostics, offering rapid and accurate results for the diagnosis of various conditions. Laboratory technicians play a vital role in the collection, preparation, and analysis of samples for in vitro diagnostic tests. In vitro diagnostics are used in various medical specialties, including cardiology, gastroenterology, and neurology, to aid in the early detection and treatment of diseases. Technavio