In Vitro Diagnostic (IVD) Trends and Market Update: December 2024

The in vitro diagnostics (IVD) market has demonstrated robust growth, driven by technological advancements and expanding opportunities. Diagnostic testing has evolved from merely diagnosing illnesses to providing critical insights for precision medicine treatments. Although COVID-19 testing has declined, it continues to contribute to overall revenues in 2024. The market remains dynamic, influenced by new product developments, shifts in global health spending, regulatory changes, and disease trends, maintaining its resilience.

Several segments within the IVD market are experiencing significant growth and attracting industry attention. These include Point-of-Care (POC) testing, cancer diagnostics, companion diagnostics, immunochemistry, and mass spectrometry. Additionally, nucleic acid assays, gene testing, and HPV molecular diagnostics are poised for substantial growth, marking them as key areas of interest for the future.

Diagnostic testing is now a cornerstone of healthcare, aiding in both diagnosis and treatment decisions. Despite the decline in COVID-19 testing, core diagnostic segments have shown consistent growth. The market's evolution is driven by factors such as innovative products, global health expenditure changes, regulatory shifts, and emerging disease trends.

Key growth areas include next-generation sequencing (NGS), personalized medicine, and mass spectrometry. Immunochemistry, POC testing, and molecular diagnostics are also expected to play crucial roles in the future of IVD. The market is characterized by continuous innovation and adaptation.

The report In Vitro Diagnostic (IVD) Trends and Market Update: December 2024 by Kalorama Information provides the latest insights into these trends and other factors shaping the market. It covers:

• Drivers of growth in the IVD market in 2024
• Major trends impacting the market in 2024
• Product trends and new developments shaping the IVD market in 2024

Highlighted trends from Q3 2023 to Q3 2024 include:

• The increasing role of AI technologies in IVD development and testing
• Exponential growth in the POC diabetes market
• Double-digit growth in HPV molecular testing
• Significant growth in blood banking molecular NAT screening due to advancements in nucleic acid methods