Description
In vitro diagnostic (IVD) testing is getting back to regular business and continues to be a driving force in the practice of medicine. It has gone from helping the physician to diagnose illness to providing the physician with invaluable information on treatments such as precision medicine. COVID-19 testing continues to decline but is still a factor in total revenues for 2023. New products, changes in global health spending, regulatory changes in major markets and disease trends are among the factors that produce a constantly changing market picture but one that remains resilient.
IVD Trends and Market Update: November 2023 by Kalorama Information is the most up-to-date resource on these and other key market trends. Diagnostic test products have never been more important. This report is an update of the market for in vitro diagnostics products from Kalorama’s analysts to reflect the latest information as of Q3 2023 with a publication date of November 2023.
There are some growing segments in the market that have attracted industry attention. Among these are Point-of-Care, next-generation sequencing (NGS), cancer testing, and companion diagnostics technologies. Immunochemistry, mass spectrometry. Gene testing and molecular diagnostics are also segments of great market interest, anticipated to be a big part of the future of IVD.
Trends highlighted throughout Q3 2023 include:
- Multiplex testing is proliferating
- Continued interest in adopting AI technologies
Kalorama Information maintains its unwavering dedication to examining the IVD market and its dynamically evolving landscape. The company’s excellence in market analysis is attributed to the extensive expertise of its authors and the market research firm’s resolute commitment to providing the most precise and up-to-date data.
In IVD Trends and Market Update: November 2023, you’ll discover out:
- What’s Driving Growth in the IVD Market in Q3 and the last half of 2023?
- What Major Trends are Affecting the Market in Q3 and the last half of 2023?
- How Has COVID-19 Impacted and Continued to Impact the Market in Q3 and the last half of 2023?
- What Product Trends and New Developments Will Shape the IVD Market in the last half of 2023?
Table of Contents
Chapter 1: Worldwide IVD Market – October 2023 Update
IVD Market Demand and Growth
Figure 1-1: Q3 Segment Performance Commentary, 2023
- Table 1-1: Global In Vitro Diagnostic Sales by Product Market, 2023 ($ million) (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]; 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)
- Figure 1-2: IVD Segment Performance, Q1 2023 – Q4 2023e ($MN)
- Figure 1-3: IVD Segment Performance (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Total Market Value, 2023 ($MN) Estimated
COVID-19 Diagnostic Markets
- Table 1-2: COVID-19 Product Sales, by Segment (Immunoassay [Antigen, Serology], Molecular, Rapid [POC Professional, POC At-Home]), 2023 ($ millions)
Effect of COVID-19 on Market Segments
- Table 1-3: IVD Market (excluding and with COVID-19), 2023 ($ millions)
- Figure 1-4: IVD Market Distribution, by Segment (COVID-19 Assays and Instruments, IVD Market excluding COVID-19 Assays and Instruments), 2023 (%)
- Figure 1-5: IVD Market by COVID-19 and non-COVID Markets, Quarterly Performance, 2023 Estimated ($ millions)
- 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; 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; 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 – Q3 2023 – Core IVD Product Launches, Developments and Trends
Clinical Chemistry
Flow Cytometry
Immunoassay
Mass Spectrometry
Molecular
Personalized Medicine
POC
Sequencing
Selected COVID-19 Developments – Q3 2023
- Figure 2-1: COVID-19 Test Market, by Type (Antigen, Molecular, Serology, Rapid), Q1-Q4 2023 ($ millions)
Antigen/Antibody
Molecular
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, 2020-2023 – Roche and Abbott Battle for #1 Spot
- Figure 3-3: Comparison of Total Diagnostic Sales for Abbott vs Roche, 2020-2023 ($ millions)
Q3 M&A Activity
Table 3-1: Q3 2023 Merger and Acquisition Activity
Abbott Laboratories
- Table 3-2: Abbott Corporate Summary
Becton Dickinson and Co
- Table 3-3: Becton Dickinson Corporate Summary
bioMérieux SA
- Table 3-4: bioMérieux Corporate Summary
Danaher Corporation
- Table 3-5: Danaher Corporation Summary
Hologic, Inc.
- Table 3-6: Hologic Corporate Summary
QuidelOrtho Corporation
- Table 3-7: QuidelOrtho Corporate Summary
Roche Diagnostic
- Table 3-8: Roche Diagnostic Corporate Summary
Siemens Healthineers
- Table 3-9: Siemens Healthineers Corporate Summary
Sysmex Corporation
- Table 3-10: Sysmex Corporate Summary
Thermo Fisher Scientific
- Table 3-11: Thermo Fisher Scientific Corporate Summary
Chapter 4: New Opportunities
Multiplex Testing
Next-Generation Sequencing
Artificial Intelligence Future Trends
Disruptive Technologies
