In-Vitro Diagnostics for Cardiology and Neurology Market Trends

  • Report ID: 3849
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

In-Vitro Diagnostics for Cardiology and Neurology Market Trends

Growth Drivers

  • Growing Adoption of Point-of-Care Testing Devices
  • Increasing Prevalence of Chronic Diseases Across the Globe

Challenges

  • High Cost of In-Vitro Diagnostics Instruments

In-vitro diagnostics for cardiology and neurology Market: Key Insights

Healthcare Expenditure per Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

8.9%

Base Year Market Size (2024)

USD 17.24 billion

Forecast Year Market Size (2037)

USD 52.23 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Radhika Pawar


  • Report ID: 3849
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of IVD in cardiology and neurology is evaluated at USD 18.54 billion.

In-vitro diagnostics for cardiology and neurology Market size was valued at USD 17.24 billion in 2024 and is set to exceed USD 52.23 billion by 2037, expanding at over 8.9% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is set to dominate majority revenue share by 2037, attributed to growing investments by healthcare providers to improve the diagnostics infrastructure in the region.

The major players in the market are Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd, Sysmex Corporation, Siemens AG, Becton, Dickinson, and Company, and others.
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