The annual death count of cancer and cardiovascular diseases is 9.6 million and 17.9 million, respectively, as per the World Health Organization (WHO). Similarly, the International Diabetes Federation pegs the worldwide incidence of this disease in the 20–64 age group for 2019 at 352 million, estimating it to increase to 486 million in 2045. While many chronic and acute diseases can be cured, some can only be managed. Even for effective management, the disease first needs to be diagnosed, preferably as early as possible.
P&S Intelligence says that due to the increasing prevalence of chronic diseases and rising awareness about their effective and early diagnosis, the in vitro diagnostic market will grow from $63.5 billion in 2019 to $127.4 billion in 2030, at a 6.6% CAGR between 2020 and 2030 (forecast period). The Latin term in vitro means outside the body; therefore, in vitro diagnostics (IVD) involves diagnosis that is carried out outside the body, in clinical laboratories. This usually involves obtaining a sample of a tissue or bodily fluid and then tracking the amount of a variety of enzymes, sera, and other substances in it.
Numerous technologies are utilized for the purpose, including immunochemistry, clinical chemistry, hematology, molecular diagnostics, microbiology, and anatomic pathology. Among these, clinical chemistry is the most-widely used IVD technology; doctors utilize it to diagnose chronic diseases by studying the amount of various substances, such as lipids, glucose, electrolytes, enzymes, proteins, and hormones,in the blood and urine. In the coming years though, the volume of microbiology tests is predicted to increase the fastest, which would drive the demand for the kits, software, services, reagents, and instruments used for them.
This is because microbiology is specifically used to detect infectious diseases; hence, with the increasing incidence of hepatitis, tuberculosis (TB), chlamydia, and HIV, the volume of microbiology tests is increasing. The growing number of infection cases is also driving the volume of molecular diagnostic tests, which involve the finding of certain biological markers in the genome or proteome of human cells. In this regard, the demand for molecular biology and molecular diagnostic tests is presently rising because of the COVID-19 pandemic, which has become an important in vitro diagnostic market driver.
This is also because among all the applications of in vitro diagnostics —diabetes, infectious diseases, cardiology, oncology, autoimmune diseases, nephrology, in vitro fertilization (IVF), and drug testing/pharmacogenomics — infectious diseases continue to remain the largest application area. As the cause of infectious diseases lies outside the body, an individual’s genome has no sway on it, and they easily transmit from one person to another. COVID-19 cases crossed 95.5 million and deaths exceeded 2 million by mid-January 2020, which has led to an increase in the volume of IVD test like never before.
During the historical period (2014–2019), the in vitro diagnostic market was dominated by North America, which will continue to hold the largest share till 2030. Driven by extensive research and development (R&D), IVD processes and technologies are undergoing widespread technological advancements. In addition, regional governments are offering their support for the adoption of advanced IVD technologies to ensure the supply of safe blood. With the boom in the population, which has been driving the prevalence of various diseases, Asia-Pacific (APAC) will also adopt IVD tests in high volumes in the years to come.
Hence, as more people fall ill, the volume of IVD tests will increase, which will lead to a rise in the demand for all the products and consumables used for them.