The global infectious disease in vitro diagnostics (IVD) market was valued at USD 26.75 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2030. Several key factors are driving this growth, including the increasing geriatric population vulnerable to infectious diseases, growing awareness around early testing, heightened demand for point-of-care (PoC) testing due to the pandemic, and the rising incidence of infectious illnesses. The COVID-19 pandemic notably transformed the market landscape through the introduction of innovative SARS-CoV-2 testing products and their widespread adoption, leading to substantial market expansion in recent years.
The expanding elderly population globally and the availability of untapped opportunities in developing regions are expected to further support market growth during the forecast period. According to data from the World Bank Group, there were approximately 779 million individuals aged 65 and older worldwide in 2022. Furthermore, the number of people aged 80 and above is forecasted to double by 2050. The increasing prevalence of infectious diseases is a significant contributor to revenue growth. Regular testing is often required for elderly individuals to prevent severe infections, driving demand for IVD solutions in countries like Russia, Japan, Germany, and the U.S., which have some of the highest elderly populations globally.
Reagents led the market in 2023, accounting for 67.21% of the global revenue. This dominance is largely due to the extensive use of reagents and test kits for diagnosing infectious diseases. Additionally, COVID-19 testing initiatives have significantly increased the use of reagents. As of May 2023, the U.S. FDA had approved 449 tests and collection devices for SARS-CoV-2 detection, with approximately 116 of these approved for over-the-counter (OTC) or at-home sample collection.
In 2023, central laboratories held the largest market share at 50.81%. These labs are preferred due to their superior accuracy compared to PoC tests. Furthermore, the option for at-home sample collection with subsequent lab testing enhances patient convenience. Leading market players offer a broad range of lab-based molecular diagnostic solutions and are continuously developing new molecular tests. For example, in April 2023, EliTech announced plans to introduce EliVerse, a high-throughput molecular diagnostics instrument, to the European market in 2024.
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Molecular diagnostics technology represented the largest revenue share in 2023, contributing 35.76% to the market. This is due to the strong penetration of molecular diagnostic technologies such as PCR and next-generation sequencing (NGS), known for their high accuracy. Industry players are actively launching advanced molecular diagnostic instruments and expanding their offerings. For instance, in April 2023, ELITechGroup announced its intention to release a high-throughput, sample-to-result molecular diagnostic platform.
The COVID-19 segment accounted for the largest market share by application in 2023, with 26.27% of total revenue. This is primarily due to widespread SARS-CoV-2 testing and government-led efforts to enhance public testing capabilities. Additionally, the emergence of rapid combination tests for multiple pathogens is expected to support continued growth in this segment. For example, in February 2023, BD received Emergency Use Authorization from the U.S. FDA for a combination test that detects SARS-CoV-2, Influenza A + B, and RSV.
North America dominated the infectious disease IVD market in 2023, holding a 38.49% share. The region is projected to maintain strong growth due to factors such as a supportive regulatory environment, the presence of key industry players, and heightened disease surveillance initiatives. For example, in March 2023, BD obtained 510(k) clearance from the U.S. FDA for its Vaginal Panel on the BD COR System, designed to detect infectious causes of vaginitis.
The following companies are recognized as the leading players in the global infectious disease IVD market, collectively holding significant market share and influencing industry trends:
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