In Vitro Diagnostics (IVD) Market Opportunities: Capitalizing on Emerging Technologies
The global In Vitro diagnostics market size is expected to reach USD 101.58 billion by 2030, and is projected to grow at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing automation in IVD systems has led to an increase in their efficiency, accuracy, and error-free diagnoses. Therefore, there has been an increasing adoption of automated IVD systems by laboratories and hospitals on a large scale. This is a primary factor which has led to its market growth. In addition, several key players are innovating and launching new products, leading to market growth. The growth in the prevalence of chronic and infectious diseases has led to the increasing demand for in vitro diagnostics. Post-pandemic, there have been several healthcare initiatives implemented by the government as well as non-government organizations to improve healthcare systems including diagnostic and laboratory tests. These initiatives are proving to be advantageous for the i