According to IQVIA statistics, the global IVD market expanded 6% LC in 2023, continuing to show a rebound from the COVID period. In 2023, the global IVD market size reached USD 81 billion (with COVID-19 accounting for 11%). In 2022, the global market size was USD 118 billion (with COVID-19 accounting for 41%), representing a year-on-year decrease of 30% (including COVID-19). Excluding COVID-19, the market size remained essentially flat.
All regions noted declines impacted by decreased COVID-19 which contributed ~11% of IVD sales.
1) North America: Market size reached USD 29 billion, accounting for 36% of the global market, a year-on-year decrease of 32%, with a two-year CAGR of -13%.
2) Europe, Middle East, and Africa (EMEA): Market size reached USD 22 billion, accounting for 27%, a year-on-year decrease of 29%, with a two-year CAGR of -34%.
3) Asia-Pacific: Market size reached USD 27 billion, accounting for 33%, a year-on-year decrease of 30%, with a two-year CAGR of -13%.
4) Latin America: Market size reached USD 3 billion, accounting for 4%, a year-on-year decrease of 10%, with a two-year CAGR of -13%.
Central Laboratory: Routine test volumes maintained stable growth, including immunoassays, clinical chemistry, coagulation, hematology, etc. Critical care tests (e.g., homodimer and heterodimer markers) continued to grow.
POC: Revenue declined mainly due to a sharp decrease in rapid infectious disease testing and nucleic acid testing. Other POC segments such as blood gas, outpatient rapid tests, and HbA1c testing saw slight increases but could not offset the overall downward trend.
Diabetes: Due to the relatively low adoption of sensor technology, the CGM market saw a slight slowdown in growth in emerging markets. In 2023, CGM accounted for 65% of the global diabetes monitoring market, with potential for further growth.
Molecular Diagnostics: With the increasing global installation of molecular testing equipment, respiratory multiplex panel testing usage may rise.
COVID-19: The COVID-19 testing market was around USD 9 billion in 2023, making up 11% of the overall IVD market, a significant drop from USD 49 billion in the previous year. Technologically, rapid testing accounted for the largest share, followed by nucleic acid testing.
Copyright © 2025 GL events Ruihe (Shanghai) Exhibition Co., Ltd. All Rights Reserved. ( 沪ICP备12004745号-1 )
We deliver the latest IVD news straight to your inbox. Stay in touch with CACLP News.
sign-up for our newsletter today.
To ensure our newsletter hit your inbox, make sure to add @caclp.com to your safe senders list. And, as always, feel free to contact
us with any questions and thanks again for subscribing.