IVD instruments market size to increase by USD 48.3 billion between 2022 and 2027

The in-vitro diagnostics instruments market size is forecast to grow by USD 48.3 billion between 2022 and 2027 at a CAGR of 9.18%. The market is driven by the growing geriatric population. The prevalence of various diseases such as breathing disorders, cancer, and stroke is high among the aging population. In addition, the lack of physical activity and improper diet are creating adverse effects on their health, which is leading to major medical problems. This has increased the spending on regular health check-ups, diagnosis, and treatment of CVDs, bone and joint diseases, and diabetes among the geriatric population. Thus, there is a growing demand for IVD diagnostic equipment, which is driving the growth of the market.

Regional analysis
By region, the global In-vitro diagnostics instruments market is segmented into North America, Europe, Asia, and the Rest of World (ROW). North America will account for 35% of market growth during the forecast period. Factors such as the growing laboratory automation, the shift to molecular diagnostic tests, and the increasing FDA approval for new products are driving the growth of the In-vitro diagnostics instruments market in North America.

Company profiles
The In-vitro diagnostics instruments market report includes information on the key products and recent developments of leading vendors, including:

• Abbott Laboratories – The company offers in-vitro diagnostics instruments that can detect diseases, conditions, and infections from samples such as blood or tissue that have been taken from the human body.

Market dynamics
The market is driven by factors such as the growing geriatric population, demand for personalized medicines, and product launches. However, limited laboratory budgets and declining reimbursements will hinder market growth.

Market segmentation

• By product, the market is segmented into immunochemistry, clinical microbiology, molecular diagnostics, and others.
• By geography, the market is segmented into North America, Europe, Asia, and the Rest of World (ROW).

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