Product Code: GVR-4-68040-204-5
IVD In Cardiology And Neurology Market Growth & Trends:
The global IVD in cardiology and neurology market size is anticipated to reach USD 30.54 billion by 2030, registering a CAGR of 9.44% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is primarily driven by the increasing prevalence of cardiovascular and neurological disorders aided by the growing geriatric population. According to an article published by the World Heart Federation, in 2023, cardiovascular diseases (CVDs) are the leading cause of death worldwide, with an estimated deaths registered being 20.5 million in 2021. Moreover, neurological disorders are found to affect 15% of the total population globally.
Innovative treatments that combine new or existing medicines with biomarkers are continuously being launched. For instance, currently, biomarkers are used for the treatment of neurological diseases to track brain health by measuring molecules. Recent progressions in biomarkers, such as biomarker signatures, are enhancing the treatment of neurological diseases. This has resulted in early diagnosis, faster drug development, and noninvasive testing. Moreover, digital biomarkers offer numerous pharmaceutical companies contextual and supplemental information to conclude clinical trial decisions. For instance, IXICO Plc is collaborating with major biopharmaceutical firms to authenticate clinically digital biomarkers and use them in clinical trials.
Moreover, the development and introduction of BBBM tests for the diagnosis of indications, such as AD & mild traumatic brain injury, among others, are contributing to market growth. For instance, in March 2020, NIH-funded researchers developed a blood-based test for detecting phosphorylated-tau-181 (ptau181), indicating Alzheimer's disease presence. This approach is less costly and invasive than the existing brain imaging & spinal fluid tests. Similarly, in January 2021, Abbott introduced the first rapid blood test for traumatic brain injury, including concussion. This test measures a particular protein that is found in the blood after a traumatic brain injury and can be used to rule out the need for CT scanning in case of negative test results.
Furthermore, IVDs are gaining increasing importance across various clinical fields for the diagnosis and monitoring of various diseases. A rise in the availability of novel IVD solutions for cardiovascular and neurological disorders is one of the major drivers anticipated to boost market growth. For instance, in October 2023, Mindray announced the expansion of its cardiac biomarker portfolio with the launch of two novel highly sensitive NT-proBNP and troponin I (hs-cTnI) cardiac biomarkers. With this launch, the company aims to enhance and diversify its existing portfolio with innovative technologies for better diagnosis and management of CVDs. Moreover, in July 2023, Quest Diagnostics announced the availability of the first test available for consumers, the AD-Detect Test for Alzheimer's Disease that helps in accessing the potential risk of developing Alzheimer's disease.
IVD In Cardiology And Neurology Market Report Highlights:
- The reagents & consumables segment led the market and is anticipated to register the fastest CAGR from 2024 to 2030 owing to extensive R&D initiatives being undertaken by major players for the development of novel biomarker kits
- The immunoassays segment led the market in 2023 due to the rising R&D about the development of novel immunological diagnostic solutions
- The molecular diagnostic segment is anticipated to grow at the fastest CAGR from 2024 to 2030 owing to the development of advanced and innovative molecular diagnostics instruments
- The hospitals end-use segment led the market in 2023 due to the popular trend of providing innovative devices in hospitals by key plato provideiding quality care
- North America dominated the global market in 2023 owing to factors, such as advanced healthcare infrastructure, rising prevalence of target diseases, and favorable regulatory environment
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Product Type
- 1.2.2. Technology
- 1.2.3. End-use
- 1.2.4. Regional scope
- 1.2.5. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.4.5.1. Data for primary interviews in North America
- 1.4.5.2. Data for primary interviews in Europe
- 1.4.5.3. Data for primary interviews in Asia Pacific
- 1.4.5.4. Data for primary interviews in Latin America
- 1.4.5.5. Data for Primary interviews in MEA
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product type and technology outlook
- 2.2.2. End-use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Increasing prevalence of chronic diseases such as cardiovascular and neurological disorders
- 3.2.1.2. Technological advancement
- 3.2.1.3. Increasing demand for point-of-care diagnostics
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost of devices
- 3.2.2.2. Stringent regulatory policies
- 3.3. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- 3.3.3. Pricing Analysis
- 3.3.4. Volume Analysis (Instruments)
Chapter 4. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Product Type Estimates & Trend Analysis
- 4.1. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Product Type Dashboard
- 4.2. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Product Type Movement Analysis
- 4.3. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market by Product Type, Revenue
- 4.4. Instruments
- 4.4.1. Instruments market estimates and forecasts 2018 to 2030 (USD Million)
- 4.5. Reagents & Consumables
- 4.5.1. Reagents & consumables market estimates and forecasts 2018 to 2030 (USD Million)
- 4.6. Software and Services
- 4.6.1. Software and services market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Technology Estimates & Trend Analysis
- 5.1. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Technology Dashboard
- 5.2. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Technology Movement Analysis
- 5.3. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market by Technology, Revenue
- 5.4. Immunoassays
- 5.4.1. Immunoassays market estimates and forecasts 2018 to 2030 (USD Million)
- 5.5. Molecular Diagnostics
- 5.5.1. Molecular diagnostics market estimates and forecasts 2018 to 2030 (USD Million)
- 5.6. Hematology
- 5.6.1. Hematology market estimates and forecasts 2018 to 2030 (USD Million)
- 5.7. Others
- 5.7.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 6. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: End-use Estimates & Trend Analysis
- 6.1. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: End-use Dashboard
- 6.2. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: End-use Movement Analysis
- 6.3. Global In Vitro Diagnostics (IVD) in Cardiology and Neurology Market by End-use, Revenue
- 6.4. Hospitals
- 6.4.1. Hospitals market estimates and forecasts 2018 to 2030 (USD Million)
- 6.5. Clinical Laboratories
- 6.5.1. Clinical laboratories market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6. Others
- 6.6.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 7. In Vitro Diagnostics (IVD) in Cardiology and Neurology Market: Regional Estimates & Trend Analysis by Product Type, Technology, and End-use
- 7.1. Regional Dashboard
- 7.2. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 7.3. North America
- 7.3.1. U.S.
- 7.3.1.1. Key country dynamics
- 7.3.1.2. Regulatory framework/ reimbursement structure
- 7.3.1.3. Competitive scenario
- 7.3.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
- 7.3.2. Canada
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Regulatory framework/ reimbursement structure
- 7.3.2.3. Competitive scenario
- 7.3.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4. Europe
- 7.4.1. UK
- 7.4.1.1. Key country dynamics
- 7.4.1.2. Regulatory framework/ reimbursement structure
- 7.4.1.3. Competitive scenario
- 7.4.1.4. UK market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.2. Germany
- 7.4.2.1. Key country dynamics
- 7.4.2.2. Regulatory framework/ reimbursement structure
- 7.4.2.3. Competitive scenario
- 7.4.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.3. France
- 7.4.3.1. Key country dynamics
- 7.4.3.2. Regulatory framework/ reimbursement structure
- 7.4.3.3. Competitive scenario
- 7.4.3.4. France market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.4. Italy
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Regulatory framework/ reimbursement structure
- 7.4.4.3. Competitive scenario
- 7.4.4.4. Italy market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.5. Spain
- 7.4.5.1. Key country dynamics
- 7.4.5.2. Regulatory framework/ reimbursement structure
- 7.4.5.3. Competitive scenario
- 7.4.5.4. Spain market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.6. Norway
- 7.4.6.1. Key country dynamics
- 7.4.6.2. Regulatory framework/ reimbursement structure
- 7.4.6.3. Competitive scenario
- 7.4.6.4. Norway market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.7. Sweden
- 7.4.7.1. Key country dynamics
- 7.4.7.2. Regulatory framework/ reimbursement structure
- 7.4.7.3. Competitive scenario
- 7.4.7.4. Sweden market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.8. Denmark
- 7.4.8.1. Key country dynamics
- 7.4.8.2. Regulatory framework/ reimbursement structure
- 7.4.8.3. Competitive scenario
- 7.4.8.4. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5. Asia Pacific
- 7.5.1. Japan
- 7.5.1.1. Key country dynamics
- 7.5.1.2. Regulatory framework/ reimbursement structure
- 7.5.1.3. Competitive scenario
- 7.5.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.2. China
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Regulatory framework/ reimbursement structure
- 7.5.2.3. Competitive scenario
- 7.5.2.4. China market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.3. India
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Regulatory framework/ reimbursement structure
- 7.5.3.3. Competitive scenario
- 7.5.3.4. India market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.4. Australia
- 7.5.4.1. Key country dynamics
- 7.5.4.2. Regulatory framework/ reimbursement structure
- 7.5.4.3. Competitive scenario
- 7.5.4.4. Australia market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.5. South Korea
- 7.5.5.1. Key country dynamics
- 7.5.5.2. Regulatory framework/ reimbursement structure
- 7.5.5.3. Competitive scenario
- 7.5.5.4. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
- 7.5.6. Thailand
- 7.5.6.1. Key country dynamics
- 7.5.6.2. Regulatory framework/ reimbursement structure
- 7.5.6.3. Competitive scenario
- 7.5.6.4. Thailand market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6. Latin America
- 7.6.1. Brazil
- 7.6.1.1. Key country dynamics
- 7.6.1.2. Regulatory framework/ reimbursement structure
- 7.6.1.3. Competitive scenario
- 7.6.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.2. Mexico
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Regulatory framework/ reimbursement structure
- 7.6.2.3. Competitive scenario
- 7.6.2.4. Mexico market estimates and forecasts 2018 to 2030 (USD Million)
- 7.6.3. Argentina
- 7.6.3.1. Key country dynamics
- 7.6.3.2. Regulatory framework/ reimbursement structure
- 7.6.3.3. Competitive scenario
- 7.6.3.4. Argentina market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7. MEA
- 7.7.1. South Africa
- 7.7.1.1. Key country dynamics
- 7.7.1.2. Regulatory framework/ reimbursement structure
- 7.7.1.3. Competitive scenario
- 7.7.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.2. Saudi Arabia
- 7.7.2.1. Key country dynamics
- 7.7.2.2. Regulatory framework/ reimbursement structure
- 7.7.2.3. Competitive scenario
- 7.7.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.3. UAE
- 7.7.3.1. Key country dynamics
- 7.7.3.2. Regulatory framework/ reimbursement structure
- 7.7.3.3. Competitive scenario
- 7.7.3.4. UAE market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.4. Kuwait
- 7.7.4.1. Key country dynamics
- 7.7.4.2. Regulatory framework/ reimbursement structure
- 7.7.4.3. Competitive scenario
- 7.7.4.4. Kuwait market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. List of key distributors and channel partners
- 8.3.2. Key customers
- 8.3.3. Key company market share analysis, 2023
- 8.3.4. Thermo Fisher Scientific Inc.
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. F. Hoffmann-La Roche Ltd
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. Sysmex Corporation
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. Siemens Healthineers AG
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. Quest Diagnostics Incorporated
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. Abbott
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. BD (Becton Dickinson)
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Bio-Rad Laboratories, Inc.
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. Beckman Coulter, Inc.
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives