Next-Generation IVD Market by Product, Application, End-user

List of Tables

The Next-Generation IVD Market was valued at USD 62.52 billion in 2023, expected to reach USD 65.60 billion in 2024, and is projected to grow at a CAGR of 5.23%, to USD 89.39 billion by 2030.

The next-generation in vitro diagnostics (IVD) market is characterized by advanced techniques and technologies aimed at precise detection, monitoring, and treatment of diseases. The scope and definition encompass a wide range of innovative diagnostic options, such as molecular diagnostics, point-of-care tests, and integrated diagnostic tools enhanced with AI and data analytics. The necessity for these next-gen IVD tools is driven by an increasing demand for early and accurate diagnosis, personalized medicine approaches, and the escalating prevalence of chronic diseases. Their application spans clinical diagnostics, oncology, infectious diseases, and genetic testing, serving end-users like hospitals, diagnostic laboratories, and research institutes. Market growth is primarily influenced by technological advancements, the rise of non-invasive diagnostics, and the global emphasis on healthcare cost reduction. Opportunities arise from the integration of wearable diagnostics and the growing reliance on real-time data for decision-making. Companies could further leverage these opportunities by investing in robust R&D, expanding into emerging markets, and forming strategic partnerships to enhance technological capabilities. Conversely, market limitations include high costs of advanced diagnostic equipment and stringent regulatory approval processes, which could impede innovation and deployment. Challenges also consist of data privacy concerns and technological interoperability issues among varied healthcare systems. To overcome these challenges, there is a need for innovations focusing on affordable and rapid diagnostic solutions, enhancement of user-friendly platforms, and fostering collaborations that streamline technological integration. Additionally, exploring artificial intelligence applications for predictive diagnostics and personalized patient care can open new research avenues. Businesses can gain insights by emphasizing a market-driven approach, understanding regional healthcare dynamics, and focusing on adaptable business models to navigate market complexities. As the IVD landscape evolves, companies should remain agile, investing in both incremental and breakthrough innovations to maintain competitive advantage.

KEY MARKET STATISTICS
Base Year [2023]	USD 62.52 billion
Estimated Year [2024]	USD 65.60 billion
Forecast Year [2030]	USD 89.39 billion
CAGR (%)	5.23%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Next-Generation IVD Market

The Next-Generation IVD Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising aging population across the globe and growing prevalence of chronic diseases
- Increasing adoption next generation IVD tests to improve precision medicine
Market Restraints
- Need of appropriate healthcare professionals to improve patient care
Market Opportunities
- Advancements in technology used for next generation IVD
- Rising adoption of Point-of-care (POC) testing in IVD industry
Market Challenges
- Stringent regulations impacting the next generation IVD

Porter's Five Forces: A Strategic Tool for Navigating the Next-Generation IVD Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Next-Generation IVD Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Next-Generation IVD Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Next-Generation IVD Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Next-Generation IVD Market

A detailed market share analysis in the Next-Generation IVD Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Next-Generation IVD Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Next-Generation IVD Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Next-Generation IVD Market

A strategic analysis of the Next-Generation IVD Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Next-Generation IVD Market, highlighting leading vendors and their innovative profiles. These include ABL SA Group, Agilent Technologies Inc., Archer by Integrated DNA Technologies, Inc., Becton, Dickinson and Company, Biomerieux SA, BioVendor - Laboratorni medicina A.S., Cerba Research NV, Curetis N.V., Danaher Corporation, F. Hoffmann-La Roche Ltd., Fapon Biotech Inc., Fulgent Genetics, Inc., Geneseeq Technology Inc., Genomic Labs Ltd., Illumina, Inc., Invivoscribe, Inc., NGenBio Co., Ltd., Otsuka Pharmaceutical Co., Ltd., Pillar Biosciences Inc., QIAGEN GmbH, Sophia Genetics SA, Sysmex Europe SE, Tempus Labs, Inc., Thermo Fisher Scientific Inc., Trivitron Healthcare, and Vela Diagnostics Holding Pte Ltd..

Market Segmentation & Coverage

This research report categorizes the Next-Generation IVD Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Product, market is studied across Consumables, Instruments, and Software.
Based on Application, market is studied across Autoimmune Diseases, Cardiology, Diabetes, Infectious Diseases, Nephrology, and Oncology.
Based on End-user, market is studied across Academic & Research Institutions, Diagnostic Laboratories, and Hospitals & Clinics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-2E76C3E47F6A

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising aging population across the globe and growing prevalence of chronic diseases
  - 5.1.1.2. Increasing adoption next generation IVD tests to improve precision medicine
- 5.1.2. Restraints
  - 5.1.2.1. Need of appropriate healthcare professionals to improve patient care
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in technology used for next generation IVD
  - 5.1.3.2. Rising adoption of Point-of-care (POC) testing in IVD industry
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulations impacting the next generation IVD
5.2. Market Segmentation Analysis
- 5.2.1. Product: Utilization of consumables in an in-vitro diagnostics to ensure the accuracy and reproducibility
- 5.2.2. Application: Advancement in the next-generation IVD technology to cater wide array of infectious and chronic diseases
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Next-Generation IVD Market, by Product

6.1. Introduction
6.2. Consumables
6.3. Instruments
6.4. Software

7. Next-Generation IVD Market, by Application

7.1. Introduction
7.2. Autoimmune Diseases
7.3. Cardiology
7.4. Diabetes
7.5. Infectious Diseases
7.6. Nephrology
7.7. Oncology

8. Next-Generation IVD Market, by End-user

8.1. Introduction
8.2. Academic & Research Institutions
8.3. Diagnostic Laboratories
8.4. Hospitals & Clinics

9. Americas Next-Generation IVD Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Next-Generation IVD Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Next-Generation IVD Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Strategic Collaboration: Illumina and Devyser Diagnostics Forge Path in IVD Innovation
- 12.3.2. Fapon Biotech Advances IVD Landscape and Targets Next-Generation Therapeutics Expansion
- 12.3.3. Waters Corporation Introduces Revolutionary Xevo TQ Absolute IVD Mass Spectrometer
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ABL SA Group
2. Agilent Technologies Inc.
3. Archer by Integrated DNA Technologies, Inc.
4. Becton, Dickinson and Company
5. Biomerieux SA
6. BioVendor - Laboratorni medicina A.S.
7. Cerba Research NV
8. Curetis N.V.
9. Danaher Corporation
10. F. Hoffmann-La Roche Ltd.
11. Fapon Biotech Inc.
12. Fulgent Genetics, Inc.
13. Geneseeq Technology Inc.
14. Genomic Labs Ltd.
15. Illumina, Inc.
16. Invivoscribe, Inc.
17. NGenBio Co., Ltd.
18. Otsuka Pharmaceutical Co., Ltd.
19. Pillar Biosciences Inc.
20. QIAGEN GmbH
21. Sophia Genetics SA
22. Sysmex Europe SE
23. Tempus Labs, Inc.
24. Thermo Fisher Scientific Inc.
25. Trivitron Healthcare
26. Vela Diagnostics Holding Pte Ltd.