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In-vitro Diagnostics Instruments Market by Product, End user, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71190
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The in-vitro diagnostics instruments market share is expected to increase by USD 23.00 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.95%.

This in-vitro diagnostics instruments market research report extensively covers in-vitro diagnostics instruments market segmentation by product (immunochemistry, clinical microbiology, molecular diagnostics, and others), end-user (hospitals and diagnostic laboratories, academic and research institutes, and home care), and geography (North America, Europe, Asia, and ROW). The in-vitro diagnostics instruments market report also offers information on several market vendors, including Abbott Laboratories, Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc. among others.

What will the In-vitro Diagnostics Instruments Market Size be During the Forecast Period?

In-vitro Diagnostics Instruments Market Size

Download the Free Report Sample to Unlock the In-vitro Diagnostics Instruments Market Size for the Forecast Period and Other Important Statistics

 

In-vitro Diagnostics Instruments Market: Key Drivers, Trends, and Challenges

The growing geriatric population is notably driving the in-vitro diagnostics instruments market growth, although factors such as the strained laboratory budgets and lowering reimbursements affecting instrument sales may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the in-vitro diagnostics instruments industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key In-vitro Diagnostics Instruments Market Driver

The geriatric population is increasing significantly across the world. The prevalence of diseases, such as lung disease, cancer, and stroke, is high among the aging population. There is a direct relationship between aging and the susceptibility to infections, as the immune system deteriorates with age. Apart from the impaired functioning of the immune system, the reduced functioning of organs also increases the chances of acquiring infections. These infections can be detected by in-vitro diagnostics diagnostic instruments such as POCT. Thus, there is a high demand for these devices from this segment of the population. The rise in the aging population has also resulted in increased expenditure on healthcare for health check-ups, disease diagnosis, and treatment. These factors have increased the demand for in-vitro diagnostics instruments, as these instruments assist in disease diagnosis. Doctors use the results of these tests to decide treatment options. Hence, the increasing aging population indicates a growing demand for in-vitro diagnostics diagnostic instruments, thus contributing to market growth. 

Key In-vitro Diagnostics Instruments Market Trend

The potential opportunities for POL is another factor supporting the in-vitro diagnostics instruments market share growth. Across the world, there is no uniformity nor support for the use of decentralized in-vitro diagnostics testing in primary and outpatient care. This testing is more often performed in POL. Payers, regulators, and administrators are needed to address the importance of POL testing, as the capabilities of portable in-vitro diagnostics instruments are advancing technically. This situation presents clinicians with several options for in-house testing. Most common infectious disease testing has enabled the use of molecular diagnostic instruments in the POL practice. Many instruments that are usually used for testing in the central labs now support the testing in POL. While CLIA testing for such molecular assays would increase its market growth, certain regulatory aspects over CLIA-waived testing would likely delay its market growth. The overall growth of the POL market in the next five years is expected to meet an overall average growth of the global in-vitro diagnostics instruments market.

Key In-vitro Diagnostics Instruments Market Challenge

Reimbursement policies for diagnostic testing are not constant across various geographies, and they are moving in a downward trend. Hospitals and diagnostic laboratories that are the primary end-users are forced to reduce their expenditure on in-vitro diagnostics instruments to have either break even or profitable revenue. The lean laboratories, or laboratories that must give more output with fewer facilities, are observed in some countries. These laboratories limit new capital equipment purchases to only those that are essentially required or provide an immediate return on investment. Lowered reimbursements and payments for a few instruments such as SMBG in European countries, such as Germany and the UK, have reduced the SMBG segment growth. The US has similar situations for in-vitro diagnostics instruments, and a reduction of reimbursement by Medicare may limit the demand for certain diagnostic testing across all segments. This has, in turn, affected the sales of new instruments for in-vitro diagnostics testing. 

This in-vitro diagnostics instruments market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global in-vitro diagnostics instruments market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the in-vitro diagnostics instruments market during the forecast period.

Who are the Major In-vitro Diagnostics Instruments Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Becton Dickinson and Co.
  • Bio Rad Laboratories Inc.
  • bioMerieux SA
  • Danaher Corp.
  • F. Hoffmann-La Roche Ltd.
  • HORIBA Ltd.
  • Siemens AG
  • Sysmex Corp.
  • Thermo Fisher Scientific Inc.

 

This statistical study of the in-vitro diagnostics instruments market encompasses successful business strategies deployed by the key vendors. The in-vitro diagnostics instruments market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

Product Insights and News

  • Abbott Laboratories - The company offers in-vitro diagnostics instruments namely Sapphire, Ruby, Emerald 22AL, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The in-vitro diagnostics instruments market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

In-vitro Diagnostics Instruments Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the in-vitro diagnostics instruments market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the healthcare equipment market includes the following core components:

  • Research and development
  • Inputs
  • Operations
  • Distribution
  • Marketing and sales
  • Post-sales and services
  • Industry innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for In-vitro Diagnostics Instruments Market?

In-vitro Diagnostics Instruments Market Market segmentation by region

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35% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for in-vitro diagnostics instruments in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions.

The growing aging population and the high prevalence of chronic and infectious diseases will facilitate the in-vitro diagnostics instruments market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The lockdowns imposed across North America due to the outbreak of COVID-19 resulted in the closure of various industries, including those that manufacture products for in-vitro diagnostics instruments, in 2020. By January 2021, the lockdown restrictions in various countries of the region were lifted, which helped in the resumption of business activities. The resumption of various preclinical studies and pharmaceutical operations will drive the demand for in-vitro diagnostics instruments in North America during the forecast period. These factors are expected to foster the growth of the in-vitro diagnostics instruments market to a certain extent in North America.

What are the Revenue-generating Product Segments in the In-vitro Diagnostics Instruments Market?

In-vitro Diagnostics Instruments Market Segmentation

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The in-vitro diagnostics instruments market share growth by the immunochemistry segment will be significant during the forecast period. This segment is the highly automated segment of clinical laboratories and represents the greatest test volume compared with the other types of testing. In China and India, there has been a rise in the number of rural hospitals that lack basic diagnostics laboratory infrastructure. This represents a growth opportunity for affordable immunochemistry analyzers. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the in-vitro diagnostics instruments market size and actionable market insights on post COVID-19 impact on each segment.

 

In-vitro Diagnostics Instruments Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.95%

Market growth 2021-2025

$ 23.00 billion

Market structure

Fragmented

YoY growth (%)

6.23

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 35%

Key consumer countries

US, China, Germany, Canada, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this In-vitro Diagnostics Instruments Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive in-vitro diagnostics instruments market growth during the next five years
  • Precise estimation of the in-vitro diagnostics instruments market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the in-vitro diagnostics instruments industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of in-vitro diagnostics instruments market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Immunochemistry - Market size and forecast 2020-2025
    • Clinical microbiology - Market size and forecast 2020-2025
    • Molecular diagnostics - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Hospitals and diagnostic laboratories - Market size and forecast 2020-2025
    • Academic and research institutes - Market size and forecast 2020-2025
    • Home care - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • Asia - Market size and forecast 2020-2025
      • ROW - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Abbott Laboratories
      • Becton Dickinson and Co.
      • Bio Rad Laboratories Inc.
      • bioMerieux SA
      • Danaher Corp.
      • F. Hoffmann-La Roche Ltd.
      • HORIBA Ltd.
      • Siemens AG
      • Sysmex Corp.
      • Thermo Fisher Scientific Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      In-vitro Diagnostics Instruments market growth will increase by $23008.38 million during 2020-2025.
      The in-vitro diagnostics instruments market is expected to grow at a CAGR of 7.95% during 2020-2025.
      Technavio has segmented the in-vitro diagnostics instruments market by product (Immunochemistry, Clinical microbiology, Molecular diagnostics, and Others) ,end user (Hospitals and diagnostic laboratories, Academic and research institutes, and Home care) , and geographic (North America, Europe, Asia, and ROW).
      Abbott Laboratories, Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., Siemens AG, Sysmex Corp., Thermo Fisher Scientific Inc. are a few of the key vendors in the in-vitro diagnostics instruments market.
      North America will register the highest growth rate of 34.8% among the other regions. Therefore, the in-vitro diagnostics instruments market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the in-vitro diagnostics instruments market growth are:
      • Growing geriatric population
      The in-vitro diagnostics instruments market vendors should focus on grabbing business opportunities from the immunochemistry segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Details on the market shares of various regions
      • Five-force market analysis

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