Artificial Intelligence (AI) Is Fastest Growing Segment Fueling The Growth Of In Vitro Diagnostics (IVD) Market
In Vitro Diagnostics Ivd Market The global In Vitro Diagnostics (IVD) Market is estimated to be valued at US$ 80682.76 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: In vitro diagnostics products include medical kits and reagents used to perform medical tests on samples collected from the human body like blood, urine, and tissue. These tests can help in disease detection, diagnosis, and treatment monitoring. Market key trends: The rising geriatric population which is more prone to chronic diseases such as cancer and cardiovascular diseases is driving the growth of the in vitro diagnostics market. According to the United Nations, the number of people aged 65 years or above was estimated to be 703 million globally in 2019 and it is projected to double to 1.5 billion by 2050. Furthermore, introduction of AI and big da...