The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest in vitro diagnostics market share.

The global in vitro diagnostics market is expected to grow from $95.6 billion in 2022 to $106.53 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The in-vitro diagnostics market is expected to grow to $148.58 billion in 2027 at a CAGR of 8.7%.

Major Driver In The In Vitro Diagnostics Market ­– Increase In Demand For Point-Of-Care Diagnostic Devices
Abbott, for example, will launch the Novel COVID-19 Test in March 2020. The test will be performed on the m2000 RealTime system, which is now available in hospitals and molecular labs across the United States. Philips also introduced a new handheld blood test, the Handheld Minicare I-20 device, which is used in emergency departments to diagnose heart attacks and provides results in 10 minutes.

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Key In Vitro Diagnostics Market Segments
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

Recent In Vitro Diagnostics Market Trend – Adopting IVD Devices
To improve device efficiency and security, IVD devices are being connected with IoT and data analytics technologies. The Internet of Things (IoT) is a network of interconnected gadgets that use communication technologies such as WiFi and Bluetooth to transport data and access devices remotely. Data analytics is the application of qualitative and quantitative methodologies to get actionable information from massive data sets. These technologies are assisting in the improvement of IVD device operation, primarily through remote monitoring, predictive maintenance for reduced downtime, and sophisticated data processing capabilities.

In Vitro Diagnostics Market Prominent Players
Major players in the in vitro diagnostics market are Siemens Healthineers, F. Hoffmann-La Roche Ltd., Danaher (Beckman Coulter Inc), Abbott Laboratories Inc., and Thermo Fisher Scientific Inc.

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The In Vitro Diagnostics Global Market Report 2023  provides a comprehensive overview on the in vitro diagnostics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the in vitro diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

In-vitro diagnostics devices and equipment are devices that test human samples taken from the body, such as tissues and blood, with the purpose of using the results to aid in clinical diagnosis or management.

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