Several key factors are driving this growth, including the increasing geriatric population vulnerable to infectious diseases, growing awareness around early testing, heightened demand for point-of-care (PoC) testing due to the pandemic, and the rising incidence of infectious illnesses. The COVID-19 pandemic notably transformed the market landscape through the introduction of innovative SARS-CoV-2 testing products and their widespread adoption, leading to substantial market expansion in recent years.The expanding elderly population globally and the availability of untapped opportunities in developing regions are expected to further support market growth during the forecast period. According to data from the World Bank Group, there were approximately 779 million individuals aged 65 and older worldwide in 2022. Furthermore, the number of people aged 80 and above is forecasted to double by 2050. The increasing prevalence of infectious diseases is a significant contributor to revenue growth. Regular testing is often required for elderly individuals to prevent severe infections, driving demand for IVD solutions in countries like Russia, Japan, Germany, and the U.S., which have some of the highest elderly populations globally.
Get a preview of the latest developments in the Global Infectious Disease In Vitro Diagnostics Market! Download your FREE sample PDF today and explore key data and trends
Product Insights
Reagents led the market in 2023, accounting for 67.21% of the global revenue. This dominance is largely due to the extensive use of reagents and test kits for diagnosing infectious diseases. Additionally, COVID-19 testing initiatives have significantly increased the use of reagents. As of May 2023, the U.S. FDA had approved 449 tests and collection devices for SARS-CoV-2 detection, with approximately 116 of these approved for over-the-counter (OTC) or at-home sample collection.
Regional Insights
North America dominated the infectious disease IVD market in 2023, holding a 38.49% share. The region is projected to maintain strong growth due to factors such as a supportive regulatory environment, the presence of key industry players, and heightened disease surveillance initiatives. For example, in March 2023, BD obtained 510(k) clearance from the U.S. FDA for its Vaginal Panel on the BD COR System, designed to detect infectious causes of vaginitis.
Key Companies in the Infectious Disease In Vitro Diagnostics Market
The following companies are recognized as the leading players in the global infectious disease IVD market, collectively holding significant market share and influencing industry trends:
QIAGEN
BD
bioMérieux SA
F. Hoffmann-La Roche, Ltd.
Hologic, Inc. (Gen Probe)
Abbott
Quidel Corporation
Siemens Healthineers AG
Bio-Rad Laboratories, Inc.
Danaher
OraSure Technologies, Inc.
Gather more insights about the market drivers, restrains and growth of the Infectious Disease In Vitro Diagnostics Market