Next-Gen In Vitro Diagnostics (IVD) Market to Reach $172.02 Billion by 2029 | The Business Research Company

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The Business Research Company's Next-Gen In Vitro Diagnostics (IVD) Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, August 23, 2025 /EINPresswire.com/ -- "Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

What Is The Projected Market Size & Growth Rate Of The Next-Generation In Vitro Diagnostics (IVD) Market?
There has been a swift expansion in the market size of the next-generation in vitro diagnostics (IVD) in the past few years. The market, which is valued at $106.97 billion in 2024, is estimated to escalate to $117.97 billion in 2025, marking a compound annual growth rate (CAGR) of 10.3%. The significant increase during the historic period could be linked to factors like the rise in the aged population, enhanced government funding, amplified investments in genomic research, an uptick in clinical trials, and an increased awareness of health among consumers.

The future market size of next-generation in vitro diagnostics (IVD) is set to experience substantial expansion in the coming years, projecting a growth up to $172.02 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. Numerous factors contribute to this predicted growth during the forecast period such as the emergence of personalized medicine, a rise in healthcare spending, increased activities in research and development, escalating cases of infectious diseases and chronic illnesses. Key trends expected during this timeframe involve technological advancements, the incorporation of artificial intelligence and machine learning into diagnostic processes, state-of-the-art diagnostic techniques, individually tailored medicine, and the discovery of new biomarkers.

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What Is The Crucial Factor Driving The Global Next-Generation In Vitro Diagnostics (IVD) Market?
The rising need for personalized medicine is forecasted to invigorate the future growth of the next-generation in vitro diagnostics (IVD) market. Precision medicine is a medical practice that tailors disease prevention and treatment to an individual's genetic make-up, environment, and lifestyle. The accessibility of genomic data is driving the growth of personalized medicine as it empowers healthcare providers to develop specific treatments based on a person's unique genetic composition, resulting in more effective patient care. The role of next-generation in vitro diagnostics (IVD) in this domain is invaluable, furnishing detailed molecular and genetic insights that facilitate custom-made treatment and preventative measures for each patient. In February 2024, the Personalized Medicine Coalition, a US-based hospital and healthcare organization, announced that in 2023 the FDA approved 16 new personalized treatments for patients with rare diseases, an increase from six in 2022. As such, the escalating demand for personalized medicine is fuelling the expansion of the next-generation in vitro diagnostics (IVD) market.

Who Are The Leading Players In The Next-Generation In Vitro Diagnostics (IVD) Market?
Major players in the Next-Generation In Vitro Diagnostics (IVD) Global Market Report 2025 include:
• F Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Becton Dickinson and Company
• Quest Diagnostics Incorporated
• Grifols SA
• Agilent Technologies Inc.
• Illumina Inc.
• Sysmex Corporation
• Bio-Rad Laboratories Inc.

What Are Some Emerging Trends In The Next-Generation In Vitro Diagnostics (IVD) Market?
Leading firms in the next-generation in vitro diagnostics (IVD) market are turning towards a strategic partnership model. This involves joining forces with technology suppliers, research institutions, and medical bodies to fast-track innovation, improve diagnostic precision, and widen the reach of high-tech testing answers for individuals, corporations, and governments. These strategic alliances help companies tap into each other's unique capabilities and resources for shared success and growth. For example, in October 2024, UK-based biotech firm Yourgene Health forged a partnership with Genetix, a Colombian human genetic diagnosis company, to instigate the first-ever local non-invasive prenatal testing (NIPT) service in Colombia. This move marks a considerable leap in prenatal care in the area, providing prospective parents quick, dependable, and affordable access to superior genetic evaluation. The service employs Yourgene Health's IONA Nx NIPT Workflow, a fully-fledged, CE-marked in vitro diagnostic (IVD) solution. This workflow is remarkably adaptable and scalable, well-suited to different sample sizes and allows Genetix to provide a quality-guaranteed prenatal screening service within Colombia.

Analysis Of Major Segments Driving The Next-Generation In Vitro Diagnostics (IVD) Market Growth
The next-generation in vitro diagnostics (ivd) market covered in this report is segmented –
1) By Product Type: Consumables, Instruments, Software
2) By Type: Core Laboratory Diagnostics, Point-Of-Care Testing, Molecular Diagnostics
3) By Application: Oncology Or Cancer, Infectious Diseases, Diabetes, Cardiology , Other Applications
4) By End-User: Hospitals And Clinics, Diagnostic Laboratories, Academic And Research Institutions, Other End Users

Subsegments:
1) By Software: Laboratory Information Management Systems, Specimen Tracking Software Modules, Cloud-Based Tracking Software, Barcode and Radio Frequency Identification Integration Platforms, Mobile Applications for Specimen Tracking
2) By Consumables: Barcode Labels, Radio Frequency Identification Tags, Specimen Bags and Tubes, Labeling Ribbons, Seals and Caps
3) By Hardware: Barcode Scanners, Radio Frequency Identification Readers, Label Printers, Workstations and Terminals, Storage and Transport Monitoring Devices

View the full next-generation in vitro diagnostics (ivd) market report:
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Which Region Is Expected To Lead The Next-Generation In Vitro Diagnostics (IVD) Market By 2025?
In 2024, the dominant region for the Next-Generation In Vitro Diagnostics (IVD) global market was North America. However, the region with the anticipated fastest growth during the forecast period is Asia-Pacific. In the report for 2025, the Next-Generation In Vitro Diagnostics (IVD) market includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

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