Early detection surge: IVD kits to reach USD 18.8B by 2034

The global in-vitro diagnostics kit market is experiencing a push of a CAGR of 4.40%, making the market valuation of US$ 18.8 billion by 2034. It is estimated that the market size of the subject market will be US$ 12.2 billion by 2024.

The main market driver for the subject market is the increasing prevalence of chronic diseases. Especially after the pandemic outbreak, the necessity of test kits to check physical health has surged. Moreover, people became aware of the urgency of tests, which surged the demand for test kits. Therefore, this acted as a critical market force.

Governments of different countries have been investing heavily in developing the healthcare sector. Due to this, the opportunity for new entrants to enter the market increases. The cash flow within the industry solves the issues related to innovation, commercialization, and distribution of test kits. Hence, this is one of the significant market drivers.

The development of allied sectors has helped the market. The immunochemistry segment helps medical professionals analyse the relationship between antigens and corresponding antibodies. The development of such segments generates the demand for in-vitro diagnostics test kits. Hence, this is another market force driving the market. Future Market Insights