Combo IVD Market Size is valued at USD 550.12 Mn in 2023 and is predicted to reach USD 920.86 Mn by the year 2031 at a 6.84% CAGR during the forecast period for 2024-2031.
Combo in vitro diagnostics (IVDs) refers to medical tools that measure and analyze biological samples in a controlled environment. These tests are useful for detecting and monitoring a wide range of medical illnesses, including infectious disorders and autoimmune diseases. They are also sometimes used to look for changes in medication treatment. Growing numbers of people afflicted with infectious and chronic diseases are propelling the in vitro diagnostics industry forward. Modern workplaces are witnessing an alarming rising incidence of long-term health problems, including diabetes, cancer, heart disease, and tuberculosis. Infectious diseases, respiratory illnesses, and gastrointestinal issues have all seen significant increases in the number of people affected.
The increasing prevalence of these disorders is expected to fuel the demand for diagnostic equipment, which drives the IVD market. With better healthcare infrastructure, increased frequency of long-term health conditions, unmet healthcare needs, and the surge in demand for advanced in vitro diagnostic testing, the in vitro diagnostics market is anticipated to experience significant growth in untapped emerging markets. Furthermore, innovations in in vitro diagnostics are driving the market forward.
However, the market growth is hampered by the high-cost criteria for the safety and health of the combo IVD market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high combo IVD because of these equipment's high maintenance and operation costs. Professionals with the necessary training must also use in vitro diagnostic software. A further consequence is that the devices become more expensive to maintain, which slows down overall market expansion. The market for in-vitro diagnostics has been affected in different ways by the COVID-19 epidemic. Even though the pandemic immediately hampered research and laboratory operations, it ultimately brought attention to the need for RNA-based research and therapies.
Competitive Landscape
Some Major Key Players In The Combo IVD Market:
- DRG International Inc.
- Becton, Dickinson and Company
- DiaCarta Inc
- Abbott Laboratories
- bioMérieux SA4
- Bio-Rad Laboratories
- Alpha IVD Srl
- BioGX BV
- Thermo Fisher Scientific Inc.
- Megna Health Inc
- CTK Biotech, Inc.
- Biopanda Reagents Ltd
- Hoffmann-La Roche Ltd
- Hologic Inc
- Siemens AG
- Other Prominent Players
Market Segmentation:
The combo IVD market is segmented based on test type, testing, end-user, channel, and sample type. According to test type segment, the market comprises SARS-CoV-2 Flu A/B Combo Test, COVID-19, Influenza A/B, RSV Combo test, COVID-19 IgM/IgG Combo Test, HIV-1/2 Ag/Ab Combo Test, HIV/Syphilis Ab Combo Test, HIV, HBsAg, HCV & Syphilis Combo, hCG Combo Test, Thrombophilia Detection Combo Test, and Other Test Types. Based on testing, the market is divided into rapid testing and point-of-care testing. By end-user segment, the market is categorised into diagnostic centres, hospitals, homecare settings, and other end-users. By channel, the market is segmented into over-the-counter and laboratory-based. By sample type, the market is segmented into oral and nasal swabs, human serum, whole blood, and other sample types.
Based On The Testing, The Point Of Care Testing Segment Is Accounted As A Major Contributor To The Combo IVD Market.
The point-of-care testing combo IVD market is expected to hold a major global market share. The rapid generation of results at the point of care testing can increase clinical or economic outcomes, allowing for the implementation of appropriate treatment. By utilizing point-of-care testing, the interdisciplinary team is able to acquire the most current and accurate data, resulting in an improved and practical medical portrait.
Hospital Segment To Witness Growth At A Rapid Rate.
In 2023, the hospital sector accounted for the highest proportion of income due to an increase in the number of hospitalizations that necessitate assistance from more efficient diagnostic methods. In addition, the ongoing growth of healthcare infrastructure and the positive actions taken by the government are expected to improve the current hospital facilities. This means that more people want IVD tests to be done in hospitals. Most IVD devices are bought and used by hospitals in large numbers.
In The Region, The North American Combo IVD Market Holds A Significant Revenue Share.
The North American combo IVD market is expected to lead with the highest market revenue share in the near future. It can be attributed to increasing supportive government policies and a robust diagnostic system. In addition, Asia Pacific is projected to grow rapidly in the global combo IVD market because of the improvement of healthcare facilities and the increasing presence of many target groups in this region.
Recent Developments:
- In Jan 2023, Bio-Rad Laboratories introduced the CFX Opus Deepwell Dx Real-Time PCR System. This system is a real-time PCR system that officially granted approval by the U.S. Food & Drug Administration (FDA) for in vitro diagnostic (IVD) testing. It has also been developed in compliance with the European Union's regulations for in vitro diagnostic medical devices.
- In June 2022, BD (Becton, Dickinson and Company) has notified the IVD directive 98/79/EC of the CE marking of the BD MAX™ Respiratory Viral Panel (RVP), a novel molecular diagnostic combination test that detects Respiratory Syncytial Virus (RSV), SARS-CoV-2, and Influenza A + B. A solitary nasal or nasopharyngeal biopsy sample was utilized in the test to ascertain whether a patient was infected with COVID-19, influenza, or RSV. This facilitated the prompt implementation of the appropriate treatment plan by clinicians and reduced the necessity for numerous tests or medical visits.
Combo IVD Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 550.12 Mn |
|
Revenue Forecast In 2031 |
USD 920.86 Mn |
|
Growth Rate CAGR |
CAGR of 6.84% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Test Type, By Testing, By End-User, By Channel, By Sample Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
DRG International Inc., Becton, Dickinson and Company, DiaCarta Inc, Abbott, bioMérieux SA4, Bio-Rad Laboratories, Alpha IVD Srl, BioGX BV, Thermo Fisher Scientific Inc., Megna Health Inc, CTK Biotech, Inc., Biopanda Reagents Ltd., F. Hoffmann-La Roche Ltd, Hologic Inc, Siemens AG and other prominent players. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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