Key Insights into the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBioinformatics In In-Vitro Diagnostics (IVD) Testing Market?
The continuous rise in cancer cases is anticipated to drive the expansion of the bioinformatics in IVD testing market. Cancer represents a collection of diseases marked by uncontrolled cell growth that can proliferate and migrate to various parts of the body. The hike in cancer cases attributes to multiple factors, those include exposure, lifestyle, and environmental aspects. The incorporation of bioinformatics into IVD testing revolutionizes cancer diagnosis by offering accurate, individualized, and thorough genetic insights that improve early detection, treatment options, and patient results. As per the 2022 data from the National Association of Chronic Disease Directors (NACDD), a government agency based in the US, roughly 40% of American adult population endure multiple chronic conditions (MCC), and emerging evidence indicates that a single chronic illness increases the likelihood of developing more, particularly in older age. Thus, the rising prevalence of cancer furthers the growth of the bioinformatics in the IVD testing market.
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What is the Predicted Annual Growth Rate of theBioinformatics In In-Vitro Diagnostics (IVD) Testing Market Impact Industry Trends by 2034?
The market size for bioinformatics in in-vitro diagnostics (IVD) testing has witnessed significant growth in recent years. The market is projected to expand from $93.02 billion in 2024 to $99.69 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. The historical growth trend can be ascribed to factors such as enhancement in healthcare infrastructure, expansion of biobanks, a growing elderly population, supportive government schemes and funding, as well as the evolution of personalized medicine.
Predictions indicate robust growth for the bioinformatics in in-vitro diagnostics (IVD) testing market in the coming years. The market is anticipated to expand to $129.89 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 6.8%. This expected growth in the forecast period can be attributed to various factors like increasing disease prevalence, integration of IT into healthcare, government funding and initiatives, the transition towards personalized medicine, heightened awareness about the benefits of bioinformatics in diagnostics among healthcare providers, and a reduction in the cost of genomic sequencing. The forecast period is also expected to witness major trends such as artificial intelligence (AI) and machine learning, next-generation sequencing, point-of-care (POC) testing, cloud computing and big data, and advancements in immunochemical techniques.
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What Are the Current Market Growth and Trends in theBioinformatics In In-Vitro Diagnostics (IVD) Testing Market That Industry Players Should Watch?
Key players in the IVD bioinformatics market are concentrating on the evolution of novel solutions including next-generation sequencing (NGS) methods. The aim is to advance the pinpointing and examination of genetic aberrations, boost diagnostic precision, and advance personalized treatment strategies. NGS is a potent technology that facilitates swift sequencing of whole genomes or selective DNA and RNA regions, thereby enabling extensive genetic scrutiny. One such case involves Illumina Inc., an American biotech firm, which in May 2022 rolled out a novel pan-cancer companion diagnostic (CDx) indication for their CE-marked TruSight Oncology Comprehensive (EU) test. This makes possible the recognition of cancer patients suffering from solid tumors who have neurotrophic tyrosine receptor kinase (NTRK) gene fusions, such as NTRK1, NTRK2, or NTRK3, and who may derive benefits from Bayer’s Vitrakvi (larotrectinib) targeted therapy. The TSO Comprehensive (EU) test is a complete genomic profiling (CGP) assay that incorporates next-generation sequencing to analyze numerous tumor genes and markers from a single biopsy, in order to ascertain a patient’s unique cancer molecular profile.
What Are the Major Market Players Making an Impact on theBioinformatics In In-Vitro Diagnostics (IVD) Testing Market Growth?
Major companies operating in the bioinformatics in in-vitro diagnostics (IVD) testing market are Siemens Healthineers, International Business Machines Corporation, Medtronic Inc., Parker Hannifin Corp., Illumina Inc, PerkinElmer Inc., QIAGEN N.V., Kollmorgen Corp, Bioreference Laboratories Inc., AssureRx Health Inc., Biodesix Inc., Crescendo Bioscience Inc., Affymetrix, Complete Genomics Inc., Aperico Technologies Inc., One Lambda Inc., Datech Oncology, Life Technologies, Signal genetics, CardioDx Inc.
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How Are the Key Segments of the Bioinformatics In In-Vitro Diagnostics (IVD) Testing Market Driving Opportunities and Innovations?
The bioinformatics in in-vitro diagnostics (IVD) testing market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Type Of Test: Blood Based Tests, Tissue Based Tests
3) By Application: Cardiovascular Diseases, Chronic Diseases, Diabetes, Cancer, Other Applications
Subsegments:
1) By Hardware: Analyzers, Laboratory Equipment, Data Storage Devices, Sensors And Detectors, Workstations And Data Processing Hardware
2) By Software: Bioinformatics Platforms, Data Management and Integration Software, Analytics And Interpretation Software, Cloud-Based Software Solutions, AI-Based Software For Diagnostics
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBioinformatics In In-Vitro Diagnostics (IVD) Testing Market?# Market Expansion?
North America was the largest region in the bioinformatics in in-vitro diagnostics (IVD) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioinformatics in in-vitro diagnostics (IVD) testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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