United States In-Vitro Diagnostics (IVD) Market Size to Surpass USD 49 Billion by 2030

Published | 28 August 2024

United States In-Vitro Diagnostics (IVD) Market is flourishing because of the increasing prevalence of chronic diseases and innovations in IVD technology, such as point-of-care testing, molecular diagnostics, and automation.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States In-Vitro Diagnostics (IVD) Market size at USD 33.50 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States In-Vitro Diagnostics (IVD) Market size to expand at a CAGR of 5.70% reaching a value of USD 49.10 billion by 2030. The growing elderly population and the increasing incidence of both communicable and non-communicable diseases are key drivers of United States in-vitro diagnostics (IVD) market. The number of point-of-care tests is also rising along with the use of automation in labs and automated equipment, which is expected to provide United States in-vitro diagnostics (IVD) market enormous potential for expansion over the period in analysis.

Opportunity - Rising adoption of automation in IVD labs

The increasing adoption of automated instruments and automation in laboratories is anticipated to present lucrative growth opportunities for United States In-Vitro Diagnostics (IVD) Market. Automated instruments provide several benefits, such as higher performance levels, enhanced productivity, data accuracy, and meeting safety protocols. As a result, many industry players are developing and launching automated instruments that offer higher efficiency and effectiveness in diagnostic tests. The increasing test volumes and shortage of skilled lab personnel are anticipated to boost automation in laboratories, thus, in turn, driving the growth of United States In-Vitro Diagnostics (IVD) Market.

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Hospitals Are Leading End Users of IVD in United States Market

The increasing number of hospital facilities and dependence on IVD for diagnosis and treatment decisions fuel the demand for in-vitro diagnostic tests. The high rate of in-patient and out-patient treatment in hospitals due to the presence of advanced diagnostic setups further contributes to its market growth. Hence, the hospital segment dominates United States In-Vitro Diagnostics (IVD) Market by end user. Meanwhile, the point-of-care (PoC) segment is also expected to grow at a high rate over the forecast period. Other major end user segments in United States In-Vitro Diagnostics (IVD) Market include standalone laboratories, and academic & medical schools.

Impact of Escalating Geopolitical Tensions on United States In-Vitro Diagnostics (IVD) Market

The escalating geopolitical tensions disrupt the growth of United States In-Vitro Diagnostics (IVD) Market. For example, China is one of the United States’ top economic partners and a significant exporter of medical diagnostic test equipment. However, the growing hostility between the two nations driven by China's developing military might pose a risk to the healthcare industry. Additionally, geopolitical conflicts affect supply chains, making healthcare supplies harder to get and ultimately leading to price increases that might affect the growth of United States Market for In-Vitro Diagnostics (IVD).

Competitive Landscape

United States In-Vitro Diagnostics (IVD) market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific, Johnson & Johnson, Ortho-Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux, QIAGEN, and Becton, Dickinson and Company.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in United States In-Vitro Diagnostics (IVD) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and United States In-Vitro Diagnostics (IVD) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States In-Vitro Diagnostics (IVD) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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