Key factors propelling the growth of the market are high prevalence of chronic diseases, increasing the use of POC (Point-of-care) diagnostics, advanced technologies, increasing awareness, and acceptance of personalized medicines. The increasing government healthcare expenditure and consumer’s healthcare spending are also responsible for the growth of the market.

The increase in the US in vitro diagnostics market is majorly due to the high prevalence of chronic diseases, such as heart diseases, cancer, asthma, and diabetes, along with COVID -19 in 2020. It is estimated that these diseases are responsible for majority of deaths in the United States, killing more than 1.7 million citizens, annually. Thus, IVDs have proved to be beneficial in managing these chronic conditions. IVDs help in the detection of early warning signs and individual risk factors, creating new opportunities for prevention and early intervention.

There are also emerging technological innovations, such as lab-on-a-chip, wearable devices, and POC diagnostics, that are increasingly becoming an important part of the healthcare landscape. These POC diagnostic products have been developed to be used on a patient’s bedside in hospitals to get instant results, without the need of sending the samples to the lab. Thus, owing to the ease of use and the ability to provide instant results, the use of POC diagnostics in the United States is increasing rapidly, thereby, boosting the growth of the market studied.

Key Market Trends

Cancer/Oncology Segment is Expected to Grow the Fastest over the Forecast Period

  • Oncology is expected to witness the fastest CAGR, due to the rising number of cancer cases in the United States. There is also an increasing demand for self-care devices and POC diagnostics in the United States for the treatment of chronic diseases that are expected to boost the market growth in the future. In 2018, it was noted that 17 million new cases of cancers were identified, as per the Cancer Research UK. This shows the growing demand regarding the oncology-based diagnostics tests across the world.
  • The infectious disease segment also holds the largest market share, due to a high prevalence of pneumonia, tuberculosis, and HIV/AIDS. Thus, with the increasing cases of infectious diseases, it is expected to contribute to the growth of the US in vitro diagnostics market.



Hospitals and Clinics Segment is Expected to Grow over the Forecast Period

  • Hospitals and Clinics hold the largest market share, in terms of revenue, owing to the large volume of diagnostic tests carried out in hospitals and the rising volumes of Class II and Class III IVD medical devices that are being readily used for diagnostic testing. The healthcare professionals present in hospitals utilize in vitro diagnostics for disease detection and to get the best results for each patient.



Competitive Landscape

Companies, like Abbott Laboratories, Becton, Dickinson and Company, and Danaher Corporation, are adopting strategic actions, mergers and acquisitions, and continued technological advancements, in order to retain their market share in the future. The companies are focusing on increasing technological advancements, in order to address the customer needs, like fully automated systems, that provide fast and accurate results.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support