How big is the Lab Automation For In-Vitro Diagnostics Market?

The Lab Automation For In-Vitro Diagnostics Market size is expected to reach USD 5.75 billion in 2024 and grow at a CAGR of 6.30% to reach USD 7.80 billion by 2029. Read More

What is the current Lab Automation For In-Vitro Diagnostics Market size?

In 2024, the Lab Automation For In-Vitro Diagnostics Market size is expected to reach USD 5.75 billion. Read More

Who are the key players in Lab Automation For In-Vitro Diagnostics Market?

Cognex Corporation, Roche Holding AG, Thermo Fisher Scientific Inc., Danaher Corporation and Siemens Healthineers AG are the major companies operating in the Lab Automation For In-Vitro Diagnostics Market. Read More

Which is the fastest growing region in Lab Automation For In-Vitro Diagnostics Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Lab Automation For In-Vitro Diagnostics Market?

In 2024, the North America accounts for the largest market share in Lab Automation For In-Vitro Diagnostics Market. Read More

What years does this Lab Automation For In-Vitro Diagnostics Market cover, and what was the market size in 2023?

In 2023, the Lab Automation For In-Vitro Diagnostics Market size was estimated at USD 5.39 billion. The report covers the Lab Automation For In-Vitro Diagnostics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lab Automation For In-Vitro Diagnostics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Lab Automation For In-Vitro Diagnostics Market Share

Statistics for the 2023 & 2024 Lab Automation For In-Vitro Diagnostics market share, created by Mordor Intelligence™ Industry Reports. Lab Automation For In-Vitro Diagnostics share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Lab Automation For In-Vitro Diagnostics Industry

The lab automation for in vitro diagnostics market is fragmented, with influential players like Thermo Fisher Scientific Inc., Cognex Corporation, Danaher Corporation, Roche Holding AG, and Agilent Technologies Inc. Vendors in the market are embracing strategies such as partnerships and acquisitions to improve their product offerings and gain sustainable competitive advantage. For example, in October 2023, Sysmex Corporation and Fujirebio Holdings Inc. cooperated to improve their immunoassay R&D, clinical development, production, and marketing activities.
Favorable endeavors undertaken by government and non-government bodies to improve overall healthcare services are expected to increase market growth. In October 2023, WHO published the Essential Diagnostics List (EDL), a wide list of IVD products that helps countries make decisions regarding diagnostic tools. It provides evidence-based recommendations and ensures the accessibility of essential products for target people.
In August 2023, the Africa CDC cooperated with the Africa Development Agency-New Partnership for Africa's Development (AUDA-NEPAD) to expand access to diagnostic tests across Africa. Such initiatives are anticipated to boost market growth.
Several lab automation platform designers have also raised funds from venture funds to solve the challenges in the drug development and testing industry. In February 2024, Monomer Bio raised USD 5.6 billion through seed funding and aims to develop an AI-powered lab automation platform that allows researchers to develop innovative treatments.
Furthermore, the in vitro diagnostics market is subject to growing regulatory scrutiny. For instance, in July 2023, the US FDA revealed a renewed attempt to regulate laboratory-developed tests (LDTs) as medical devices. In September 2023, the US FDA made it mandatory for LDT manufacturers to comply with medical device statutes and regulations. FDA intended to enforce this in phases starting in 2024 to 2028.