Diagnostic tests are medical procedures or devices designed to identify and determine the presence or absence of specific diseases, conditions, or markers in individuals. These tests play a crucial role in healthcare by aiding in the early detection, diagnosis, and monitoring of various medical conditions.
The market encompasses a wide range of diagnostic tools and technologies, including laboratory-based tests, point-of-care tests, imaging studies, molecular diagnostics, and other methods. It involves the collaboration of numerous stakeholders, including healthcare providers, diagnostic test manufacturers, regulatory authorities, and research institutions.
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Data Bridge Market Research analyzes that the Global Diagnostic Tests Market is expected to reach the value of USD 495.85 billion by 2031, from USD 264.17 billion in 2023, growing at a CAGR of 8.4% during the forecast period of 2024 to 2031.
Key Findings of the Study
Rising Number of IVD Tests Conducted Across the Globe
In vitro diagnostics are one of the most significant segments in the healthcare industry. They are considered to be the utmost significant tool in the diagnostic world that help in the early diagnosis and prevention of diseases that affect the emotional, and personal life of the patient and also drain out financially. They are used in the diagnosis of cancer the prediction of associated risks, and others. The increase in dependence on IVD tests and advancements in technology are driving the market growth,
IVD tests include the usage of instruments, reagents, self-testing, and others. IVD test gives access to new diagnostics that are increasing the value of diagnostics by improving the healthcare quality. In addition, IVD is also responsible for providing valuable insight into the industry.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Type (Routine Tests and Specialized Tests), Component (Services and Products), Technology (Immunoassay-Based, PCR-Based, Next Gen Sequencing, Spectroscopy-Based, Chromatography-Based, Microfluidics, and Others), Mode of Testing (Prescription-Based Testing and OTC Testing), Application (Oncology, Cardiology, Orthopedics, Gastroenterology, Gynecology, Neurology, Odontology, and Others), Sample Type (Blood, Urine, Saliva, Sweat, Hair, and Others), Testing Site (Laboratory Based Testing and At Home Testing), Testing Type (Biochemistry, Hematology, Microbiology, Histopathology, and Others), Age (Geriatric, Adult, and Pediatric), End User (Hospitals, Diagnostic Center, Ambulatory Surgical Centers (ASCs), Specialty Clinics, Homecare, Blood Banks, Research Labs & Institutes, and Others), Distribution Channel (Direct Tenders, Retail Sales, and Online Sales)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Turkey, Netherlands, Switzerland, Norway, Hungary, Austria, Lithuania, Ireland, Rest of Europe, China, Japan, India, South Korea, Australia, Malaysia, Singapore, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Peru, Colombia, Venezuela, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Kuwait, and Rest of Middle East and Africa
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Market Players Covered
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F. Hoffmann-La Roche Ltd (Switzerland), Abbott (U.S.) Danaher (U.S.), Siemens Healthineers AG (Germany), BD (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Bio-Rad Laboratories, Inc. (U.S.), EKF Diagnostics (U.K.), ACON Laboratories, Inc. (U.S.) and BIOMEDOMICS INC. (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
The global diagnostic tests market is segmented into eleven notable segments based on type, component, technology, mode of testing, application, sample type, testing site, testing type, age, end users, and distribution channel.
- On the basis of type, the global diagnostic tests market is segmented into routine tests and specialized tests
In 2024, the routine tests segment is expected to dominate the global diagnostic tests market
In 2024, the routine tests segment is expected to dominate the market with a market share of 63.77% due to the rising number of transplant procedures.
- On the basis of component, the global diagnostic tests market is segmented into services and products
In 2024, the services segment is expected to dominate the global diagnostic tests market
In 2024, the services segment is expected to dominate the market with a market share of 65.05% due to the rising number of IVD tests conducted across the globe.
- On the basis of technology, the global diagnostic tests market is segmented into immunoassay-based, PCR-based, next gen sequencing, spectroscopy-based, chromatography-based, microfluidics, and others. In 2024, the immunoassay-based segment is expected to dominate the market with a market share of 34.47%
- On the basis of mode of testing, the global diagnostic tests market is segmented into prescription-based testing and OTC testing. In 2024, the prescription-based testing segment is expected to dominate the market with a market share of 82.41%
- On the basis of application, the global diagnostic tests market is segmented into oncology, cardiology, orthopedics, gastroenterology, gynecology, neurology, odontology, and others. In 2024, the oncology segment is expected to dominate the market with a market share of 30.85%
- On the basis of sample type, the global diagnostic tests market is segmented into blood, urine, saliva, sweat, hair, and others. In 2024, the blood segment is expected to dominate the market with a market share of 67.90%
- On the basis of testing site, the global diagnostic tests market is segmented into laboratory based testing and at home testing. In 2024, the laboratory based testing segment is expected to dominate the market with a market share of 83.51%
- On the basis of testing type, the global diagnostic tests market is segmented into biochemistry, hematology, microbiology, histopathology, and others. In 2024, the biochemistry segment is expected to dominate the market with a market share of 43.40%
- On the basis of age, the global diagnostic tests market is segmented into geriatric, adult, and pediatric. In 2024, the geriatric segment is expected to dominate the market with a market share of 52.06%
- On the basis of end user, the global diagnostic tests market is segmented into hospitals, diagnostic center, ambulatory surgical centers (ASCs), specialty clinics, homecare, blood banks, research labs & institutes, and others. In 2024, the hospitals segment is expected to dominate the market with a market share of 50.20%
- On the basis of distribution channel, the global diagnostic tests market is segmented into direct tenders, retail sales, and online sales. In 2024, the direct tenders segment is expected to dominate the market with a market share of 83.03%
Major Players
Data Bridge Market Research analyzes F. Hoffmann-La Roche Ltd (Switzerland), Abbott (U.S.), Danaher (U.S.), Siemens Healthineers AG (Germany), BD (U.S.) as the major players in the global diagnostic tests market.
Market Developments
- In May 2023, Roche officially announced the acquisition of Stratos Genomics. This acquisition led to the development of DNA based sequencing for diagnostics use. This enhanced the healthcare diagnosis segment of the company, thus leading to more revenue generation
- In April 2022, Bio-Rad Laboratories, Inc. officially announced that it acquired Celsee, Inc., which provides instruments for the analysis of cells and helps in diagnosis. This acquisition created an opportunity for both of them to launch new products, which will improve the company's product portfolio
- In September 2022, Abbott revolutionized continuous glucose monitoring (CGM) with the launch of the FreeStyle Libre 3 sensor. This sensor boasts a 14-day wear time, eliminating the need for finger pricking and offering patients real-time glucose data for better diabetes management. The Libre 3's extended wear time and improved user experience address major pain points for diabetic patients, potentially leading to increased market share and patient satisfaction.
- In March 2020, Roche got FDA approval for Elecsys GALAD. This approval enhanced the company's product segment and helped in the early diagnosis of carcinoma. This approval also enhanced the financials of the company
- In March 2020, Bio-Rad Laboratories, Inc. officially announced its partnership with Testing Labs Worldwide. This partnership helped in the diagnosis of various diseases, including COVID-19. This helped enhance the company's product portfolio.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Turkey, Netherlands, Switzerland, Norway, Hungary, Austria, Lithuania, Ireland, rest of Europe, China, Japan, India, South Korea, Australia, Malaysia, Singapore, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, Colombia, Venezuela, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Kuwait, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is estimated to be the dominant region in the Global Diagnostic Tests Market
North America is expected to dominate the market due rising number of IVD tests conducted in the region.
Asia-Pacific is estimated to be the fastest-growing region in the Global Diagnostic Tests Market
Asia-Pacific is expected to grow due to the increase in technological advancements in the field of transplants and improving diagnosis seeking rate in the region.
For more detailed information about the global diagnostic tests market report, click here – https://www.databridgemarketresearch.com/es/reports/global-diagnostic-tests-market
