Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The "IVD In Cardiology and Neurology Market by Product Type, by Technology, by End-User, and By Region" report has been added to ResearchAndMarkets.com's offering.
The increasing global burden of cardiovascular and neurological disorders has been identified as a significant driver for the expansion of the In Vitro Diagnostics (IVD) in the cardiology and neurology sectors. Industry analysts forecast a compounded annual growth rate (CAGR) of 9.47% from 2024 to 2034, with the market size expected to rise from the estimated USD 17.88 billion in 2023 to USD 48.36 billion by the end of 2034.
The market is witnessing revolutionary strides in biomarker discovery, producing a marked impact on the precision of cardiac and neurological diagnostics. Breakthroughs in the development of advanced assays are enhancing the ability to diagnose and manage conditions with greater specificity and sensitivity. The extensive usage of biomarkers like troponin, B-type natriuretic peptide (BNP), and C-reactive protein (CRP) has significantly contributed to the rigorous diagnostic protocols in heart failure and acute coronary syndrome.
Reagents and Consumables Lead Product Types
The surge in demand for reagents and consumables is evident from their substantial share of market revenue, driven by the need for regular replenishment in various diagnostic procedures. In tandem with this, the instruments segment is anticipated to witness the most accelerated growth rate due to the increased uptake of innovative diagnostic tools that elevate efficiency and precision in diagnosing cardiology and neurology related ailments.
Immunology Dominates Technology Segment; Molecular Diagnostics on the Rise
The immunology sector has emerged as the dominant technology in the IVD in cardiology and neurology market. Its prominence is tied to its crucial role in the detection of disease-specific biomarkers. However, the molecular diagnostics segment is showing promising growth prospects, spurred by rising demands for early detection and genetic profiling, which are essential for targeted treatment approaches.
Hospitals Remain the Primary End-Users; Other Sectors Show Robust Growth
Hospitals continue to be the main end-users in the market due to the volume of diagnostic tests performed in these establishments, coupled with the availability of cutting-edge diagnostic modalities. Yet, there is a swift rise in the deployment of diagnostic solutions in alternative care settings such as clinics, diagnostic labs, and home healthcare services, reflecting a broader trend towards decentralized and point-of-care diagnostics.
Regional Market Highlights
North America maintains its lead in market share, benefiting from a strong healthcare framework, high disease incidence, and formidable healthcare spending. Concurrently, the Asia Pacific region is projected to experience the strongest CAGR, with enhanced healthcare investments, a heightened focus on early disease detection, and increased chronic disease rates fueling the upward trajectory of the market in nations like China and India.
Market Outlook
The global IVD in cardiology and neurology market is set on a progressive path, thanks to the multifaceted drivers ranging from technological innovations to the escalating burden of disease. The consistent growth in this market segment is representative of the robust commitment to improving cardiac and neurological healthcare outcomes through the power of precise diagnostics.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $17.88 Billion |
| Forecasted Market Value (USD) by 2034 | $48.36 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
Companies Featured
- Abbott Laboratories
- Roche Diagnostics
- Siemens Healthineers
- Thermo Fisher Scientific
- bioMérieux S.A.
- Becton
- Dickinson and Company (BD)
- Ortho Clinical Diagnostics
- DiaSorin S.p.A.
- Hologic Inc.
- Qiagen N.V.
- Agilent Technologies
- PerkinElmer Inc.
- Genomic Health (part of Exact Sciences)
- Mindray Medical International Limited
- Sysmex Corporation.
For more information about this report visit https://www.researchandmarkets.com/r/uw8xvw
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