In vitro diagnostics (IVD) is the diagnostic solution used by patients for detection of various diseases such as infections, cancer, cardiovascular immunological, nephrological, and gastroenterological diseases in an in vitro environment. The continuous need for diagnosis and treatment of different diseases has makes way for the need of numerous technological advancements in the IVD market. These advancements continue in future as well to identify new diseases, improve living standards, and provide healthcare access to the patients. IVD testing is performed by using reagents, analytical instruments, and accessory products.
Increase in infectious and chronic diseases and rise in geriatric population drive the market. In addition, demand for personalized medicines and technological advancements to improve efficacy of IVD, rise in disposable income, and high healthcare expenditure are expected to fuel the market growth. Furthermore, increase in awareness of preventive diagnosis & treatment among the population is anticipated to increase the market growth during the forecast period. However, stringent government rules and regulations are expected to hinder the growth of this market. Ongoing R&D is anticipated to present new opportunities for the market. The U.S. IVD market is accounted for $15,746 million in 2016, and is estimated to reach at $20,707 million by 2023, growing at a CAGR of 3.9% from 2017 to 2023.
The market is segmented on the basis of product type, techniques, application, and end user. By product type, the market is categorized into reagents, instruments, and software & services. On the basis of techniques, it is divided into immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics, clinical chemistry, and other IVD techniques. Application segment covered in the study includes infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and other indications. Based on end user, it is classified into hospitals, academic and medical schools, point of care testing, and others.
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