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3. In Vitro Diagnostics Companies - Roche Diagnostics (Switzerland), Danaher Corporation (US) and Abbott Laboratories (US) are Leading Players

The global in vitro diagnostics market is projected to reach USD 119.4 billion by 2029 from USD  85.2 billion in 2024, at a CAGR of 6.9% during the forecast period. Factors such as the rising demand for point-of-care testing, and growing preference for personalized medicine, will boost the growth of the In vitro diagnostics market. According to the National Centre for Biotechnology Information (NCBI), Point-of-Care Testing (POCT) is clinical laboratory testing conducted close to the site of patient care where care or treatment is provided. POCT provides rapid turnaround of test results with the potential to generate a result quickly so that appropriate treatment can be undertaken.

The in vitro diagnostics market is highly consolidated, with top companies holding significant market shares.

The top five players in this market include:

• Roche Diagnostics (Switzerland),
• Danaher Corporation (US),
• Abbott Laboratories (US),
• Siemens Healthineers AG (Germany),
• Thermo Fisher Scientific, Inc (US) and many more....

These Companies undertake organic and inorganic growth strategies, namely product launches and approvals, expansions, and acquisitions/collaborations to increase their product offerings, address customer requirements, augment profitability, and strengthen their presence in the global market.

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Roche Diagnostics (Switzerland):

Roche Diagnostics account for the largest share of In vitro diagnostics market in 2023. The company manufactures and sells diagnostic products to five customer areas under its diagnostics division—Core Lab, Molecular Lab, Point of Care, Diabetes Care, and Pathology Lab. The company recorded encouraging sales for its items for core lab. The Diagnostics Division of the company saw a significant increase in base business revenues. This gain was primarily driven by immunodiagnostic products, specifically cardiac testing, as well as diagnostic solutions for clinical chemistry and advanced staining.

Abbott Laboratories (US):

Abbott Laboratories held the second position in the In vitro diagnostics market in 2023. The company operates through five segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, Medical Devices, and others. The Diagnostic business segment is further categorized as Core Laboratory, Molecular, Point of Care, and Rapid Diagnostics. To maintain its leading position and meet growing customer requirements, the company has significantly expanded its in vitro diagnostics production capacity.

Danaher Corporation (US):

Danaher held the third position in In vitro diagnostics market in 2023. Danaher has a broad product portfolio in segments like Biotechnology, Life Sciences, Diagnostics, and Environmental & Applied Solutions. The company markets its in vitro diagnostics products in over 100 market directly or indirectly. The diagnostics segment provides clinical tools, consumables, reagents, software, and services needed for illness diagnosis and treatment planning.

The global manufacturer of the In Vitro Diagnostics Market:

The top manufacturers in this market include:

• BD (Becton, Dickinson and Company) (United States),
• bioMérieux (France),
• Ortho Clinical Diagnostics (United States),
• Sysmex Corporation (Japan),
• Hologic, Inc. (United States) and many more....

These manufacturers are at the forefront of driving innovation and advancing healthcare through their in vitro diagnostics products and solutions, contributing to improved patient care and outcomes worldwide.

BD (Becton, Dickinson and Company) (United States):

BD is a global medical technology company that manufactures a wide range of in vitro diagnostic products, including specimen collection devices, molecular diagnostics, and microbiology solutions. With a focus on improving healthcare delivery and patient outcomes, BD's diagnostics division develops innovative products for infectious disease testing, cancer diagnostics, and personalized medicine.

bioMérieux (France):

bioMérieux is a leading provider of in vitro diagnostics solutions for clinical laboratories, microbiology laboratories, and industrial applications. With a legacy of innovation spanning over 50 years, bioMérieux develops assays and systems for infectious disease testing, blood culture identification, antimicrobial susceptibility testing, and food safety.

Ortho Clinical Diagnostics (United States):

Ortho Clinical Diagnostics is a leading manufacturer of in vitro diagnostics solutions, specializing in clinical laboratory testing and blood screening. With a legacy of over 80 years in the diagnostics industry, Ortho develops assays and analyzers for transfusion medicine, immunohematology, clinical chemistry, and infectious disease testing.

Sysmex Corporation (Japan):

Sysmex Corporation is a global leader in in vitro diagnostics, focusing on hematology, coagulation, urinalysis, and flow cytometry. With a commitment to advancing healthcare through innovation, Sysmex develops automated analyzers and reagents for clinical laboratories, enabling accurate and timely diagnosis of various diseases and conditions.

Hologic, Inc. (United States):

Hologic, Inc. is a leading provider of women's health solutions and molecular diagnostics, offering a diverse portfolio of in vitro diagnostic products for laboratory and point-of-care testing. Hologic's diagnostics division develops assays and systems for cervical cancer screening, sexually transmitted infections, respiratory diseases, and bloodborne pathogens.

Related Reports:

In Vitro Diagnostics Market by Product & Service (Instruments, Kits, Software), Technology (Immunoassay, Hematology, Urinalysis), Specimen (Blood, Saliva), Test Type, Application (Oncology, Autoimmune, CVD, Infectious Diseases) - Global Forecast to 2029

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