PUBLISHER: The Business Research Company | PRODUCT CODE: 1704587
PUBLISHER: The Business Research Company | PRODUCT CODE: 1704587
In vitro diagnostic (IVD) in cardiology and neurology involves conducting medical tests on samples such as blood, urine, or tissue outside the body to diagnose a range of cardiovascular and neurological ailments. These tests are pivotal for detecting conditions such as heart disease, stroke, Alzheimer's disease, and more, aiding in early diagnosis, ongoing monitoring, and treatment planning. They offer timely diagnostic insights crucial for guiding patient care and enhancing outcomes in both cardiology and neurology.
The main products of in vitro diagnostic (IVD) in cardiology and neurology encompass instruments, reagents and consumables, and software and services. Instruments denote the tools or apparatuses utilized for conducting diagnostic examinations and scrutinizing patient specimens within laboratory environments. These encompass various technologies such as immunoassays, molecular diagnostics, and hematology, catering to the needs of hospitals, clinical laboratories, and similar entities.
The in vitro diagnostic (IVD) in cardiology and neurology market research report is one of a series of new reports from The Business Research Company that provides in vitro diagnostic (IVD) in cardiology and neurology market statistics, including the in vitro diagnostic (IVD) in cardiology and neurology industry global market size, regional shares, competitors with in vitro diagnostic (IVD) in cardiology and neurology market share, detailed in vitro diagnostic (IVD) in cardiology and neurology market segments, market trends, and opportunities, and any further data you may need to thrive in the in vitro diagnostic (IVD) in cardiology and neurology industry. This in vitro diagnostic (IVD) in cardiology and neurology market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The in vitro diagnostic (IVD) in cardiology and neurology market size has grown strongly in recent years. It will grow from $15.84 billion in 2024 to $17.27 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rise in the prevalence of age-related cardiovascular and neurological disorders, rise in the aging population, growing emphasis on preventive healthcare and early disease detection, the increasing burden of cardiovascular diseases (CVDs) and neurological disorders, such as stroke and Alzheimer's disease, rise in investments in healthcare infrastructure, and rise in supportive regulatory frameworks governing the approval and reimbursement of diagnostic tests.
The in vitro diagnostic (IVD) in cardiology and neurology market size is expected to see strong growth in the next few years. It will grow to $24.07 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to the shift towards personalized medicine in cardiology and neurology, increasing demand for rapid and on-site testing solutions in cardiology and neurology, expansion of telemedicine and remote consultation services, and rise in research initiatives. Major trends in the forecast period include emergence of liquid biopsy technologies, advancements in nanotechnology, adoption of remote monitoring devices, such as implantable cardiac monitors and brain-computer interfaces, use of multiplex biomarker panels, innovations in medical imaging modalities, such as MRI, CT, and PET scans, and development of companion diagnostics for cardiovascular and neurological drugs.
The expansion of personalized medicine is poised to drive the advancement of the in vitro diagnostic (IVD) market in cardiology and neurology in the foreseeable future. Personalized medicine, which customizes healthcare interventions and treatments to suit the unique characteristics of individual patients, is gaining momentum due to progress in genomics, enhanced understanding of disease mechanisms, patient demand for tailored therapies, and regulatory backing, among other factors. In cardiology and neurology, IVD tests play a pivotal role in facilitating personalized medicine by furnishing essential insights into an individual's genetic composition and disease status. These insights guide the development of customized treatment strategies, thereby enhancing efficacy and minimizing risks. For instance, data from the Personalized Medicine Coalition indicates that in 2022, approximately 34% of all newly approved therapies were personalized medicines, marking a significant rise from previous years. Hence, the escalating adoption of personalized medicines is propelling the growth of the in vitro diagnostic (IVD) market in cardiology and neurology.
Major companies operating in the in vitro diagnostic (IVD) in cardiology and neurology market are innovating AI-driven integrated epigenetic systems to enable early detection of diseases and assess risks. These AI-enabled integrated epigenetic systems utilize machine learning and advanced biomarker analysis methods to improve the precision and sensitivity of diagnosing and monitoring cardiovascular conditions, thereby targeting key factors influencing disease advancement. For example, in February 2023, Cardio Diagnostics Holdings Inc., a US-based biotechnology firm, introduced PrecisionCHD, an AI-powered blood test engineered for the timely identification of coronary heart disease (CHD). Employing the company's integrated epigenetic-genetic engine, this test evaluates CHD susceptibility and strives to preemptively detect the most prevalent cardiovascular ailment. Combining epigenetic and genetic indicators with machine learning algorithms, the new test delivers over 75% sensitivity for both genders. It establishes a connection between a patient's biomarker profile and modifiable risk elements, such as smoking, diabetes, hypertension, and elevated cholesterol levels, which significantly contribute to CHD. PrecisionCHD presents a non-invasive option to conventional methods such as exercise stress tests or angiograms, as it requires blood samples collected either at the clinic or home.
In March 2024, Beckman Coulter, a US-based company specializing in laboratory diagnostics, expanded its partnership with Fujirebio to focus on the development, manufacturing, and clinical adoption of neurodegenerative disease assays. This collaboration aims to combine their expertise in laboratory diagnostics and neurological markers to advance the development of innovative assays for diagnosing neurodegenerative diseases, ultimately improving patient outcomes through more accurate and timely diagnostics. Fujirebio, a Japan-based company, specializes in in vitro diagnostics (IVD) in cardiology and neurology.
Major companies operating in the in vitro diagnostic (IVD) in cardiology and neurology market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson And Company, Quest Diagnostics Incorporated, Hologic Inc., Illumina Inc., Beckman Coulter Inc., Quidel Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Instrumentation Laboratory, bioMerieux SA, Natera, Inc., Randox Laboratories Ltd., Fulgent Genetics Inc., DiaSorin S.p.A., Oxford Nanopore Technologies, Fujirebio Diagnostics Inc., Adaptive Biotechnologies, Biocartis Group NV, Agena Bioscience
North America was the largest region in the in vitro diagnostic (IVD) in cardiology and neurology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in vitro diagnostic (IVD) in cardiology and neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the in vitro diagnostic (IVD) in cardiology and neurology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The in vitro diagnostic (IVD) in cardiology and neurology market consists of revenues earned by entities by providing services such as point-of-care testing, laboratory testing, molecular diagnostics, and biomarker testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
In Vitro Diagnostic (IVD) In Cardiology And Neurology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on in vitro diagnostic (ivd) in cardiology and neurology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for in vitro diagnostic (ivd) in cardiology and neurology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The in vitro diagnostic (ivd) in cardiology and neurology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.