The new report by Expert Market Research titled, ‘North America In-Vitro Diagnostics Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the North America in-vitro diagnostics market, assessing the market based on its segments like products and services, technology, applications, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
North America In-Vitro Diagnostics Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the North America in-vitro diagnostics market report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.7%
The surging number of pathology labs and services equipped with advanced diagnostics machines is expected to drive the market growth over the forthcoming years. The increase in chronic and infectious diseases, such as cancer, heart disease, and diabetes, among others, is increasing the demand for in-vitro diagnostics in North America.
The rising adoption of point-of-care testing for various diseases will have a positive impact on the market demand. Additionally, increasing patient visits in hospitals for health-related issues, disease detection, and testing lead to an increased usage of in-vitro diagnostics in hospitals.
North America In-Vitro Diagnostics Industry Definition and Major Segments
Early warning indications and specific risk factors can be found using in-vitro diagnostics, offering up new opportunities for prevention and early intervention. With the use of some in-vitro diagnostics, people with chronic illnesses can self-monitor and manage their own symptoms outside of the constraints of the lab, hospital, or doctor’s office.
By product and service, the market is segmented into:
• Reagents and Kits
• Software and Services
Based on technology, the market is divided into:
• Clinical Chemistry
• Molecular Diagnostics
• Blood Glucose Self-Monitoring
• Coagulation and Haemostasis
The major applications of the market are:
• Infectious Diseases
• Autoimmune Diseases
On the basis of country, the market is classified into:
• United States
North America In-Vitro Diagnostics Market Trends
Several leading companies are offering in-vitro diagnostic (IVD) solutions that deliver rapid and sensitive results, while minimising cost and complexity. Modern in-vitro diagnostics (IVDs) enable better diagnosis for preventing and managing infectious and chronic diseases. Such factors are expected to drive the market growth in North America. Similarly, major market players are focusing on introducing new in-vitro diagnostic methods in the industry with a higher prevalence of infectious diseases, thus proving beneficial for the overall market expansion. The rising adoption of advanced diagnostic machines in hospitals is further driving the market growth. In order to further accelerate the outlook for the regional market, leading industry players are also concentrating on developing efficient and precise instruments, reagents, and assays for in-vitro diagnostic testing.
Key Market Players
The major players in the market are:
- Becton, Dickinson and Company
- Beckman Coulter, Inc.
- Bio-Rad Laboratories, Inc.
- Surmodics IVD, Inc.
- Illumina, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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