The global in vitro diagnostics market size accounted for USD 102.08 billion in 2024 and is expected to exceed around USD 133.24 billion by 2034, growing at a CAGR of 2.7% from 2024 to 2034.
The in vitro diagnostics market refers to the production, distribution, and application of this diagnostic, which are tests done on samples such as blood or tissue that have been taken from the human body. In vitro diagnostics can also be used in precision medicine to identify patients who are likely to benefit from specific treatments or therapies. This diagnostic can detect diseases or other conditions and can be used to monitor a person’s overall health to help cure, treat, or prevent diseases. The rising adoption of automated analyzers, the gradual shift from centralized testing to point-of-care testing, and the increasing senior population drive the growth for the in vitro diagnostics market.
However, the challenging factors of the market include the high cost of advanced diagnostic equipment, regulatory hurdles, and limited healthcare budgets that can limit the growth of the market. The future scope of the market includes growing demand for rapid and accessible diagnostic solutions, digital health integration, advances in genomics and molecular diagnostics, and the rise of remote patient monitoring, which will help the growth of the in vitro diagnostics market.
Published by Kesiya Chacko
