The prevalence of age-related diseases such as chronic and infectious diseases are driving the North America in-vitro diagnostics market demand during the forecast period.

The North America In-Vitro Diagnostics Market size was valued at USD 33.54 billion in 2023, and is predicted to reach USD 43.64 billion by 2030, at a CAGR of 3.4% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The aging population, marked by a rising prevalence of age-related diseases and conditions worldwide, is a key driver for the growth of the in-vitro diagnostics market. As people age, the incidence of these conditions increases, leading to a higher demand for diagnostic tests for early detection, monitoring, and management to prevent further progression and complications.

This demographic shift is clearly observable from the projected rise of individuals aged 65 years and older, expected to more than double from 761 million in 2021 to 1.6 billion by 2050 worldwide. As a result, healthcare providers are confronted with the increasing task of meeting the changing healthcare requirements of elderly individuals, driving the need for advanced diagnostic solutions.

Moreover, the specific healthcare demands of the aging population emphasize the necessity for precise diagnostic technologies tailored to individual needs. Therefore, the aging demographic plays a pivotal role in shaping the growth and development of the North America in-vitro diagnostics market, influencing its future trajectory.

However, high costs associated with research, development, and regulatory approval are significant factors restraining the North America in-vitro diagnostics market growth. Operating within this sector necessitates significant financial investment for companies to navigate the complex landscape of research and development.

This investment often encompasses extensive clinical trials, laboratory testing, and product refinement to guarantee accuracy and reliability. Additionally, obtaining regulatory approvals from agencies such as the FDA requires strict adherence to stringent standards, further compounding the financial burden. This financial constraint can discourage potential adopters from market expansion.

On the other hand, point-of-care testing (POCT) is poised to be a significant driver of growth in the in-vitro diagnostics (IVD) market in the forthcoming years. POCT serves as a valuable complement to laboratory testing, especially in situations where immediate results are crucial, such as emergency departments, ambulances, and remote healthcare settings. 

With POCT technologies offering rapid tests for infectious diseases, cardiac markers, glucose monitoring, pregnancy testing, and more, healthcare providers can quickly assess patients' conditions and make timely treatment decisions.

By integrating POCT with traditional IVD, healthcare providers can enhance their diagnostic capabilities, delivering more efficient and patient-centered care. This integration streamlines workflows, allowing for faster diagnosis and treatment initiation, ultimately leading to improved patient outcomes.

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Several key market players operating in the North America in-vitro diagnostics industry include Roche Holding AG, Abbott Laboratories, Thermo Fisher Scientific Inc, Danaher Corporation, Becton, Dickinson and Company, Siemens Healthineers AG, bioMérieux SA, Sysmex Corporation, QIAGEN N.V., and Bio-Rad Laboratories, Inc., and others.

Key Insights from the North America In-Vitro Diagnostics Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the North America in-vitro diagnostics market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the North America in-vitro diagnostics market is provided in the report along with their competitive analysis.