The U.S. in vitro diagnostics market size is expected to reach USD 37.35 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2020 to 2027. The prevalence of various diseases such as cancer, autoimmune diseases, and inflammatory conditions is increasing, which is expected to drive the market. For instance, according to the American Cancer Society, about 1.8 million are estimated to be new cancer cases and around 606,520 individuals are projected to die in 2020. Breast, prostate, colorectal, lung, stomach, and liver cancers are the most common types.
In addition, cell counts are performed manually; however, companies are introducing automated instruments to reduce manual work and provide quick and accurate results. For instance, in July 2018, Sysmex America, Inc. entered into a partnership with Advanced Instruments to introduce a novel GloCyte Automated Cell Counter System that is used to detect cerebrospinal fluid cell count. As per this agreement, Sysmex America, Inc. would be the exclusive distributor of the system in the U.S.
Increasing use of approved blood-gas analyzers to monitor respiratory conditions is expected to fuel market growth. For instance, in March 2020, Siemens Healthineers AG received the U.S. FDA approval for the RapidPoint 500e blood gas analyzer. This blood gas analyzer can be used for critically ill patients under acute care. Furthermore, it is anticipated to support COVID-19 response efforts due to its ability to test blood gas, which, in turn, is expected to help manage infected patients by aiding the monitoring of their respiratory conditions.
An increase in the initiatives by organizations to improve patient outcomes using cost-effective and rapid diagnostic techniques to help fight antibiotic resistance is expected to fuel market growth. For instance, in April 2019, The University of Antwerp, Wellcome Trust, and bioMérieux, together launched Value-Dx-an Innovative Medicines Initiative (IMI) project-that was initiated by six IVD companies to fight against antimicrobial resistance. The aim of this project was to transform clinical practice and achieve better patient outcomes by implementing new diagnostic technologies.
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U.S. In Vitro Diagnostics Market Report Highlights
• By technology, the molecular diagnostics segment is expected to be the fastest-growing segment over the forecast period owing to the rising number of approvals by regulatory authorities and the presence of various technologies, such as Polymerase Chain Reaction (PCR), mass spectroscopy, and Isothermal Nucleic Acid Amplification Technology (INAAT)
• The immunoassays technology segment held the largest market share in 2019 due to the increasing adoption of immunoassay-based POC testing and rapid testing and growing use of tests and expansion of assay menu
• Based on end use, the hospitals segment dominated the market in 2019 owing to the availability of a large number of community hospitals, federal government hospitals, and nonfederal psychiatric hospitals and developed infrastructure
• The presence of key players and rising initiatives to raise awareness among healthcare professionals and patients are fueling the market growth
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U.S. In Vitro Diagnostics Market Segmentation
Grand View Research has segmented the U.S. in vitro diagnostics market on the basis of product, technology, application, end use, and country:
U.S. In Vitro Diagnostics Product Outlook (Revenue, USD Million, 2016 - 2027)
• Instruments
• Reagents
• Services
• Energy
• Healthcare
• Retail
• Others
U.S. In Vitro Diagnostics Technology Outlook (Revenue, USD Million, 2016 - 2027)
• Immunoassays
• Instruments
• Reagents
• Services
• Hematology
• Instruments
• Reagents
• Services
• Clinical Chemistry
• Instruments
• Reagents
• Services
• Molecular Diagnostics
• Instruments
• Reagents
• Services
• Coagulation
• Instruments
• Reagents
• Services
• Microbiology
• Instruments
• Reagents
• Services
• Others
• Instruments
• Reagents
• Services
U.S. In Vitro Diagnostics Application Outlook (Revenue, USD Million, 2016 - 2027)
• Infectious Disease
• Diabetes
• Oncology
• Cardiology
• Nephrology
• Autoimmune Diseases
• Drug Testing
• Others
U.S. In Vitro Diagnostics End-use Outlook (Revenue, USD Million, 2016 - 2027)
• Hospitals
• Laboratories
• Home-care
• Others
U.S. In Vitro Diagnostics Country Outlook (Revenue, USD Million, 2016 - 2027)
• U.S.
List of Key Players of U.S. In Vitro Diagnostics Market
• Abbott
• F. Hoffmann-La Roche Ltd.
• Bio-Rad Laboratories, Inc.
• Siemens Healthineers
• Agilent Technologies, Inc.
• Qiagen
• bioMérieux SA
• Quidel Corporation
• Becton Dickinson and Company
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Browse More Related Report:
In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product, By Application, By Technology (Immunochemistry, Molecular Diagnostics), By End-use, By Region, And Segment Forecasts, 2021 - 2027
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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