Global Bioinformatics In In Vitro Diagnostics IVD Testing Market Outlook 2024, Forecast To 2033
22 Aug, 2024
The bioinformatics in in vitro diagnostics (IVD) testing market has shown robust growth, increasing from $87.25 billion in 2023 to $93.02 billion in 2024 at a CAGR of 6.6%. This historic growth is due to improvements in healthcare infrastructure, expansion of biobanks, a rising geriatric population, government initiatives and funding, and the growth of personalized medicine. The market is anticipated to continue growing, reaching $121.57 billion in 2028 at a CAGR of 6.9%. The growth in the forecast period is attributed to factors such as rising disease prevalence, IT integration in healthcare, government support, a shift towards personalized medicine, increased awareness about bioinformatics benefits among healthcare providers, and decreasing genomic sequencing costs. Major trends for the forecast period include artificial intelligence (AI) and machine learning, next-generation sequencing, point-of-care (POC) testing, cloud computing and big data, and innovations in immunochemical techniques.
Global Bioinformatics In In Vitro Diagnostics IVD Testing Market Key Driver
The bioinformatics market in IVD testing is expected to grow due to the increasing prevalence of cancer. Cancer involves abnormal cell growth that can spread to other parts of the body and is influenced by exposure, lifestyle, and environmental factors. Bioinformatics in IVD testing provides precise, personalized genetic insights that improve cancer diagnostics, treatment decisions, and patient outcomes. According to the National Library of Medicine in May 2021, the global cancer burden is projected to reach 28.4 million cases by 2040, a 47% increase from 2020. Consequently, the increasing prevalence of cancer is expected to drive growth in the bioinformatics in IVD testing market.
Get A Free Sample Of The Bioinformatics In In Vitro Diagnostics IVD Testing Market ReportGlobal Bioinformatics In In Vitro Diagnostics IVD Testing Market Segments
The bioinformatics in in-vitro diagnostics (IVD) testing market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Type Of Test: Blood Based Tests, Tissue Based Tests
3) By Application: Cardiovascular Diseases, Chronic Diseases, Diabetes, Cancer, Other Applications
By Geography:The regions covered in the bioinformatics in in-vitro diagnostics (IVD) testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the bioinformatics in in-vitro diagnostics (IVD) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Bioinformatics In In Vitro Diagnostics IVD Testing Industry Players
Siemens Healthineers, International Business Machines Corporation, Medtronic Inc., Parker Hannifin Corp., Illumina Inc, PerkinElmer Inc., QIAGEN N.V., Kollmorgen Corp, Bioreference Laboratories Inc., AssureRx Health Inc., Biodesix Inc., Crescendo Bioscience Inc., Affymetrix, Complete Genomics Inc., Aperico Technologies Inc., One Lambda Inc., Datech Oncology, Life Technologies, Signal genetics, CardioDx Inc.
Purchase The Global Bioinformatics In In Vitro Diagnostics IVD Testing Market Report Directly And Get A Swift DeliveryBioinformatics In In Vitro Diagnostics IVD Testing Market Overview
Bioinformatics in in vitro diagnostics (IVD) refers to the application of computational methods, data analysis, and software tools to interpret and analyze biological data generated from in vitro diagnostic tests. It involves using algorithms and statistical models to process large volumes of molecular and clinical data from diagnostic tests conducted outside the living organism (in vitro).
Bioinformatics In In Vitro Diagnostics IVD Testing Global Market Report 2023 provides data on the global bioinformatics in in vitro diagnostics ivd testing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The bioinformatics in in vitro diagnostics ivd testing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.