In Vitro Diagnostic (IVD) Trends and Market Update: March 2024

Diagnostic testing has become a fundamental aspect of healthcare, aiding physicians in diagnosing conditions and determining treatments. Despite a decline in COVID-19 testing affecting total revenues, core diagnostic segments have generally experienced growth. Factors such as new products, changes in global health spending, regulatory shifts, and disease trends contribute to a constantly changing market, yet one that remains resilient.

Key growing segments attracting industry attention include next-generation sequencing (NGS), personalized medicine, and mass spectrometry. Immunochemistry, point-of-care (POC) testing, and molecular diagnostics are also of significant interest, and expected to play a crucial role in the future of IVD. The IVD market remains dynamic, characterized by constant innovations.

In Vitro Diagnostic (IVD) Trends and Market Update: March 2024 provides the most current insights into these trends and others shaping the market. This report reflects the latest information available.

In In Vitro Diagnostic (IVD) Trends and Market Update: March 2024, you’ll discover:

What’s Driving Growth in the IVD Market in 2024
What Major Trends are Affecting the Market in 2024
What Product Trends and New Developments Will Shape the IVD Market in 2024

Trends highlighted throughout 2023 and into 2024 include:

Growing interest in multiplex disease testing
Increasing interest in digital diagnostics, combining data and analytics with traditional IVD
Continued advancement of AI technologies
Growth in rapid and POC testing
And much more!

The publisher remains dedicated to examining the IVD market and its evolving landscape, providing precise and up-to-date data through the expertise of its authors and its commitment to excellence in market analysis.

Chapter 1: Worldwide Ivd Market - March 2024 Update

Ivd Market Demand and Growth
Figure 1-1: Quarter-By-Quarter Segment Performance Commentary, 2023
Table 1-1: Global in Vitro Diagnostic Sales by Product Market (Clinical Chemistry; Immunoassays: Infectious Disease, Other Immunos, Blood Bank Screening, Drugs of Abuse, Diabetes Hba1C - Lab; Hematology - Core Lab; Microbiology (Id/Ast); Microbiology (Molecular); Microbiology - Mass Spectrometry; Coagulation (Pt/Inr); Coagulation, Molecular; Histology/Cytology; Hpv, Molecular; Nucleic Acid Assays; Blood Grouping/Typing; Blood Bank Molecular - Nat Screens; Circulating Tumor Cells; Poc, OTC Diabetes; Poc, OTC Other; Poc, Professional/Hospital; Mass Spectrometry; Other Ivd), 2023 ($M)
Figure 1-2: Ivd Quarterly Segment Performance, by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, Poc, Other), Q1 2022-Q4 2023 ($M)
Figure 1-3: Ivd Segment Performance, by Segment by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, Poc, Other), Total Market Value, 2023 ($M)
COVID-19 Diagnostic Markets
Table 1-2: COVID-19 Product Sales, by Segment (Immunoassay [Antigen, Serology]; Molecular; Rapid), 2023 ($M)
Effect of COVID-19 on Market Segments
Table 1-3: Ivd Market Excluding and with COVID-19, 2023 ($M)
Figure 1-4: Ivd Market Distribution, by Segment (COVID-19 Assays and Instruments; Excluding COVID-19 Assays and Instruments), 2023 (%)
Figure 1-5: Ivd Market by COVID-19 and Non-COVID Markets, Quarterly Performance, 2024 ($M)
Table 1-4: Global in Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays - Non Isotopic [Infectious Disease, Other Immunos, Blood Bank Screening, Drugs of Abuse, Diabetes Hba1C, Lab, Hematology - Core Lab]; Microbiology (Id/Ast); Microbiology (Molecular); Coagulation (Pt/Inr); Histology/Cytology, D-Dimer; Nucleic Acid Assays/Genetic Tests; Blood Grouping/Typing; Blood Bank Molecular - Nat Screens; Poc, OTC Diabetes; Poc, OTC Other; Poc, Professional/Hospital), Yoy Growth, 2022-2023 (%)
Figure 1-6: Global in Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays - Non Isotopic [Infectious Disease, Other Immunos, Blood Bank Screening, Drugs of Abuse, Diabetes Hba1C, Lab, Hematology - Core Lab]; Microbiology (Id/Ast); Microbiology (Molecular); Coagulation (Pt/Inr); Histology/Cytology, D-Dimer; Nucleic Acid Assays/Genetic Tests; Blood Grouping/Typing; Blood Bank Molecular - Nat Screens; Poc, OTC Diabetes; Poc, OTC Other; Poc, Professional/Hospital), Yoy Growth, 2022-2023

Chapter 2: Product Trends and New Developments

Selected New - Q4 2023 and Q1 2024 - Core Ivd Product Launches, Developments and Trends
Immunoassay
Molecular
Personalized Medicine and Genetic Testing
Poc
Sequencing
Microbiology
Selected COVID-19 Developments - Q4 2023 - Q1 2024
Figure 2-1: COVID-19 Test Market, by Type (Antigen, Molecular, Rapid, Serology), Q1 2023-Q4 2023 - COVID-19 Testing Wanes ($M)

Chapter 3: Top Ivd Market Participant Results

Selected Competitive Leader Updates
Figure 3-1: Ivd Segment Growth, by Leading Competitors (Abbott Diagnostics, Becton Dickinson, Biomérieux, Danaher, Exact Sciences, Quidelortho, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific), Change in Sales, 2022-2023 (%)
Figure 3-2: Changes in Market Distribution for Ivd Sales, Top 10 Companies (Abbott Diagnostics, Becton Dickinson, Biomérieux, Danaher, Exact Sciences, Hologic, Quidelortho, Revvity, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Werlen, Others), 2020-2023 [Roche and Abbott Battle for #1 Spot]
Figure 3-3: Comparison of Total Diagnostic Sales for Abbott vs Roche, 2021-2023 ($M)
Q4 2023, Q1 2024 M&A Activity
Table 3-1: Selected Diagnostic Market Mergers and Acquisitions Deals, Q4 2023-Q1 2024 ($M)
Figure 3-4: Count of Ivd Industry M&A Deals, by Month, Full Year 2023 and Jan-Feb 2024
Abbott Laboratories
Table 3-2: Abbott Corporate Summary
Figure 3-5: Abbott Diagnostics Revenue, by Segment (Core Laboratory, Molecular, Point-Of-Care, Rapid Diagnostics, COVID-19), Full Year 2022 and 2023 ($M)
Becton Dickinson and Co
Table 3-3: Becton Dickinson Corporate Summary
Figure 3-6: Bd Life Sciences, Revenues by Business, Fy End September 30, 2022, and 2023 ($M)
Biomérieux SA
Table 3-4: Biomérieux Corporate Summary
Figure 3-7: Biomérieux Clinical Applications, by Segment (Immunoassays, Microbiology, Molecular Biology, Other Lines), Full Year Results, 2022-2023 (€M)
Danaher Corporation
Table 3-5: Danaher Corporation Summary
Figure 3-8: Danaher Diagnostic Segment Performance, Full Year Results, 2022-2023 ($M)
Exact Sciences, Inc.
Table 3-6: Exact Sciences Corporate Summary
Figure 3-9: Exact Sciences Segment Performance, by Segment Revenue (COVID-19 Testing, Precision Oncology, Screening), Full Year Results, Fy 2022-Fy 2023 ($M)
Hologic, Inc.
Table 3-7: Hologic Corporate Summary
Figure 3-10: Hologic Diagnostic Segment Performance, by Segments (Blood Screening, Cytology & Perinatal, Molecular Diagnostics), Full Year Results, Fy 2022-Fy 2023 ($M)
Quidelortho Corporation
Table 3-8: Quidelortho Corporate Summary
Figure 3-11: Quidelortho Financial Results, by Segment (Immunoassays, Molecular Diagnostics, Point-Of-Care, Transfusion Medicine), 2022-2023 ($M)
Roche Diagnostic
Table 3-9: Roche Diagnostic Corporate Summary
Figure 3-12: Roche Diagnostics Revenue, by Product Group (Core Lab, Diabetes Care, Molecular, Pathology Lab, Point-Of-Care), Full Year Results, 2022-2023 (Chf Mn)
Siemens Healthineers
Table 3-10: Siemens Healthineers Corporate Summary
Figure 3-13: Siemens Diagnostics Revenue, Fy 2022 and Fy 2023 (€M)
Sysmex Corporation
Table 3-11: Sysmex Corporate Summary
Figure 3-14: Sysmex Revenue, by Product Segment (Clinical Chemistry, Fcm, Hematology, Hemostasis, Immunochemistry, Urinalysis, Others), Fy 2022, 2023 and 2024 (Jpy Mn)
Thermo Fisher Scientific
Table 3-12: Thermo Fisher Scientific Corporate Summary
Figure 3-15: Thermo Fisher Scientific Business Segment Performance, by Segment (Analytical Instruments, Eliminations, Laboratory Products and Services, Life Sciences Solutions, Specialty Diagnostics), 2022-2023 ($M)

Chapter 4: New Opportunities

Artificial Intelligence Future Trends
At-Home Testing
Multiplex Testing
Telehealth

Samples

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Companies Mentioned

Abbott Laboratories
Becton Dickinson and Co
bioMérieux SA
Danaher Corporation
Hologic, Inc.
QuidelOrtho Corporation
Roche Diagnostic
Siemens Healthineers
Sysmex Corporation
Thermo Fisher Scientific

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In In Vitro Diagnostic (IVD) Trends and Market Update: March 2024, you’ll discover:

Trends highlighted throughout 2023 and into 2024 include:

Table of Contents

Samples

Companies Mentioned

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