In Vitro Diagnostic (IVD) Trends and Market Update: March 2024

Table of Contents

Chapter 1: Worldwide IVD Market – March 2024 Update

IVD Market Demand and Growth

• Figure 1-1: Quarter-by-Quarter Segment Performance Commentary, 2023
• Table 1-1: Global In Vitro Diagnostic Sales by Product Market (Clinical Chemistry; Immunoassays: Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c – lab; Hematology – Core Lab; Microbiology (ID/AST); Microbiology (molecular); Microbiology – Mass Spectrometry; Coagulation (PT/INR); Coagulation, molecular; Histology/cytology; HPV, molecular; Nucleic acid assays; Blood grouping/typing; Blood bank molecular – NAT Screens; Circulating tumor cells; POC, OTC diabetes; POC, OTC other; POC, professional/hospital; Mass Spectrometry; Other IVD), 2023 ($M)
• Figure 1-2: IVD Quarterly Segment Performance, by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Q1 2022-Q4 2023 ($M)
• Figure 1-3: IVD Segment Performance, by Segment (Clinical Chemistry, Coagulation, Hematology, Histology, Immunoassay, Microbiology, POC, Other), Total Market Value, 2023 ($M)

COVID-19 Diagnostic Markets

• Table 1-2: COVID-19 Product Sales, by Segment (Immunoassay [Antigen, Serology]; Molecular; Rapid), 2023 ($M)

Effect of COVID-19 on Market Segments

• Table 1-3: IVD Market excluding and with COVID-19, 2023 ($M)
• Figure 1-4: IVD Market Distribution, by Segment (COVID-19 Assays and Instruments; Excluding COVID-19 Assays and Instruments), 2023 (%)
• Figure 1-5: IVD Market by COVID-19 and non-COVID markets, Quarterly Performance, 2024 ($M)
• Table 1-4: Global In Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays – non isotopic [Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c, lab, Hematology – Core Lab]; Microbiology (ID/AST); Microbiology (molecular); Coagulation (PT/INR); Histology/cytology, d-dimer; Nucleic acid assays/genetic tests; Blood grouping/typing; Blood bank molecular – NAT Screens; POC, OTC diabetes; POC, OTC other; POC, professional/hospital), YoY Growth, 2022-2023 (%)
• Figure 1-6: Global In Vitro Diagnostic Market, by Segment (Clinical Chemistry; Immunoassays – non isotopic [Infectious disease, Other immunos, Blood bank screening, Drugs of Abuse, Diabetes HbA1c, lab, Hematology – Core Lab]; Microbiology (ID/AST); Microbiology (molecular); Coagulation (PT/INR); Histology/cytology, d-dimer; Nucleic acid assays/genetic tests; Blood grouping/typing; Blood bank molecular – NAT Screens; POC, OTC diabetes; POC, OTC other; POC, professional/hospital), YoY Growth, 2022-2023

 

Chapter 2: Product Trends and New Developments

Selected New – Q4 2023 and Q1 2024 – Core IVD Product Launches, Developments and Trends

Immunoassay

Molecular

Personalized Medicine and Genetic Testing

POC

Sequencing

Microbiology

Selected COVID-19 Developments – Q4 2023 – Q1 2024

• Figure 2-1: COVID-19 Test Market, by Type (Antigen, Molecular, Rapid, Serology), Q1 2023-Q4 2023 – COVID-19 Testing Wanes ($M)

 

Chapter 3: Top IVD Market Participant Results

Selected Competitive Leader Updates

• Figure 3-1: IVD Segment Growth, by Leading Competitors (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Exact Sciences, QuidelOrtho, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific), Change in Sales, 2022-2023 (%)
• Figure 3-2: Changes in Market Distribution for IVD Sales, Top 10 Companies (Abbott Diagnostics, Becton Dickinson, bioMérieux, Danaher, Exact Sciences, Hologic, QuidelOrtho, Revvity, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Werlen, Others), 2020-2023 [Roche and Abbott Battle for #1 Spot]
• Figure 3-3: Comparison of Total Diagnostic Sales for Abbott vs Roche, 2021-2023 ($M)

Q4 2023, Q1 2024 M&A Activity

• Table 3-1: Selected Diagnostic Market Mergers and Acquisitions Deals, Q4 2023-Q1 2024 ($M)
• Figure 3-4: Count of IVD Industry M&A Deals, by Month, Full Year 2023 and Jan-Feb 2024

Abbott Laboratories

• Table 3-2: Abbott Corporate Summary
• Figure 3-5: Abbott Diagnostics Revenue, by Segment (Core Laboratory, Molecular, Point-of-Care, Rapid Diagnostics, COVID-19), Full Year 2022 and 2023 ($M)

Becton Dickinson and Co

• Table 3-3: Becton Dickinson Corporate Summary
• Figure 3-6: BD Life Sciences, Revenues by Business, FY End September 30, 2022, and 2023 ($M)

bioMérieux SA

• Table 3-4: bioMérieux Corporate Summary
• Figure 3-7: bioMérieux Clinical Applications, by Segment (Immunoassays, Microbiology, Molecular Biology, Other Lines), Full Year Results, 2022-2023 (€M)

Danaher Corporation

• Table 3-5: Danaher Corporation Summary
• Figure 3-8: Danaher Diagnostic Segment Performance, Full Year Results, 2022-2023 ($M)

Exact Sciences, Inc.

• Table 3-6: Exact Sciences Corporate Summary
• Figure 3-9: Exact Sciences Segment Performance, by Segment Revenue (COVID-19 Testing, Precision Oncology, Screening), Full Year Results, FY 2022-FY 2023 ($M)

Hologic, Inc.

• Table 3-7: Hologic Corporate Summary
• Figure 3-10: Hologic Diagnostic Segment Performance, by Segments (Blood Screening, Cytology & Perinatal, Molecular Diagnostics), Full Year Results, FY 2022-FY 2023 ($M)

QuidelOrtho Corporation

• Table 3-8: QuidelOrtho Corporate Summary
• Figure 3-11: QuidelOrtho Financial Results, by Segment (Immunoassays, Molecular Diagnostics, Point-of-Care, Transfusion Medicine), 2022-2023 ($M)

Roche Diagnostic

• Table 3-9: Roche Diagnostic Corporate Summary
• Figure 3-12: Roche Diagnostics Revenue, by Product Group (Core Lab, Diabetes Care, Molecular, Pathology Lab, Point-of-Care), Full Year Results, 2022-2023 (CHF MN)

Siemens Healthineers

• Table 3-10: Siemens Healthineers Corporate Summary
• Figure 3-13: Siemens Diagnostics Revenue, FY 2022 and FY 2023 (€M)

Sysmex Corporation

• Table 3-11:  Sysmex Corporate Summary
• Figure 3-14: Sysmex Revenue, by Product Segment (Clinical Chemistry, FCM, Hematology, Hemostasis, Immunochemistry, Urinalysis, Others), FY 2022, 2023 and 2024 (JPY MN)

Thermo Fisher Scientific

• Table 3-12: Thermo Fisher Scientific Corporate Summary
• Figure 3-15: Thermo Fisher Scientific Business Segment Performance, by Segment (Analytical Instruments, Eliminations, Laboratory Products and Services, Life Sciences Solutions, Specialty Diagnostics), 2022-2023 ($M)

 

Chapter 4: New Opportunities

Artificial Intelligence Future Trends

At-Home Testing

Multiplex Testing

Telehealth