The global in-vitro diagnostics market, valued at approximately $60.3 billion in 2017, is projected to grow at a CAGR of 4.6% from 2018 to 2026, driven by the rising prevalence of diseases like cancer and diabetes and strategic acquisitions among key players. Innovations such as Abbott's Afinion 2 analyzer, combined with support from regulatory authorities, are expected to further enhance market growth. Coherent Market Insights offers market intelligence and consulting services, assisting clients in various sectors to achieve transformational growth through tailored research solutions.

1. In-vitro Diagnostics Market -
GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2018-2026

2. REPORT DESCRIPTION
In-vitro Diagnostics Market – Overview
In-vitro diagnostics is used as a diagnostic tool by clinicians for faster diagnosis and to ensure timely treatment
for patients. According to the U.S. FDA, in-vitro diagnostic products are those reagents, instruments, and systems
intended for use in diagnosis of disease or other conditions, including determination of the state of health, in order
to cure, mitigate, treat, or prevent disease or its sequela. Such products are intended for use in the collection,
preparation, and examination of specimens taken from the human body.
In-vitro diagnostics (IVD) play a major role in advanced healthcare, as they provide vital information about an
individual or patient after a sequence of tests. These are diagnostic tools, which act as precursors to any treatment.
The global in-vitro diagnostics market size was valued at US$ 60,274.1 million in 2017, and is expected to exhibit
a CAGR of 4.6% over the forecast period (2018–2026).

3. In-vitro Diagnostics Market Trend:
Rising prevalence of cancer and autoimmune diseases is expected to drive the global in-vitro diagnostics market.
According to the American Diabetes Association 2016, an estimated 29.1 million Americans, contributing a total
9.3% of the population, had severe Type II diabetes, while around 1.25 million American children and adults
having type 1 diabetes. Similarly, according to the Multiple Sclerosis Foundation, 2017, multiple sclerosis
autoimmune condition affects 2.5 million people with the global incidence of around 7 cases per 100,000 people
per year.
Rising strategic acquisition and collaboration by market players for expanding their offering in the market is
expected to bolster the market growth. For instance, in January 2017, Qiagen N.V. acquired Omicsoft Corporation
to expand its bioinformatics portfolio. The acquisition will add Qiagen with additional features to manage,
analyze, and share both primary data and analyzed results.
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4. In-vitro Diagnostics Market Taxonomy:
Increasing product launches in the region is the major factor expected to propel the market growth. For instance, in
May 2018, Abbott Laboratories launched its Afinion 2 analyzer in the U.S., the newest generation of the Afinion test
system. The Afinion 2 analyzer is a compact rapid, multi-assay platform that streamlines and simplifies the delivery
of actionable, accurate measurements of hemoglobin A1c (HbA1c), and albumin to creatinine ratio (ACR) results at
the point of care.
Moreover, support from regulatory authorities as well as other government organizations is further expected to
support growth of the North America in-vitro diagnostics market over the forecast period. For instance in 2017,
United Nations Children’s Fund (UNICEF) announced request for proposal for sustained supply of Zika virus point-
of-care diagnostics during 2017 through 2019.
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