Laboratory Diagnostics (Global Market)

Laboratory Diagnostics (Russian Market)

Main article: Laboratory diagnostics (Russian market)

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2024: Global Laboratory Medical Diagnostics Market Size Reaches $73.99 Billion for the Year

In 2024, costs in the global market for laboratory medical diagnostics (in vitro) amounted to $73.99 billion. More than a third of this amount fell on the North American region. This is stated in a study by Fortune Business Insights, the results of which were released on April 11, 2025.

The industry demonstrates sustainable development, which is facilitated by several factors. One is the increasing prevalence of acute and chronic diseases, including cardiovascular, genetic and neurological ailments. The use of modern tools for the early detection of such diseases allows doctors to prescribe the most effective treatment courses. Demand is further increasing amid an ageing population: With the rise of older people who are more susceptible to chronic diseases, health care providers are looking for effective means of laboratory medical diagnosis.

Technological advances play an important role in expanding the industry. Integration of automation, artificial intelligence and machine learning improves diagnostic accuracy and responsiveness. Against the background of the introduction of the concept of personalized medicine, diagnostic tools are increasingly used to adapt treatments to individual genetic profiles, which improves the results of therapy. Leading market players invest heavily in research and development activities aimed at improving the characteristics and expanding the capabilities of diagnostic equipment.

Molecular diagnostics is gaining momentum: this is the direction of in vitro diagnostic studies, including all specific methods for analyzing irregular biopolymers - DNA, RNA and proteins. This approach is the basis of personalized medicine. Thanks to molecular diagnostics, it becomes possible to make an early diagnosis and build an optimal treatment regimen that provides the best results. The increase in sales in this segment was facilitated by the pandemic. COVID-19

The study also highlights a number of deterrents. First of all, these are financial difficulties and the lack of an adequate reimbursement policy for diagnostic procedures in developing countries. In addition, in the context of the current macroeconomic situation and geopolitical situation, there may be disruptions in the global supply chain, which negatively affects the availability and cost of raw materials and equipment.

The market in question is segmented into tools as well as reagents and consumables. Type two products bring in the lion's share of revenue, which is explained by the growing number of tests. Analysts estimate that the molecular diagnostics segment held a dominant position in 2024. From a geographical point of view, North America was the leader, which accounted for 37.7% of the global cost, or $27.9 billion. Globally, significant players are named:

• F. Hoffmann-La Roche Ltd.;
• Abbott;
• Thermo Fisher Scientific Inc.;
• Sysmex Corporation;
• Siemens Healthineers AG;
• BD;
• Seegene;
• DiaSorin S.p.A.;
• Quest Diagnostics Incorporated;
• Bio-Rad Laboratories.

In 2025, the cost of laboratory medical diagnostics worldwide is expected to reach $77.73 billion. Fortune Business Insights analysts believe that in the future, the CAGR in the market under consideration will be 6.1%. As a result, by 2032, costs could increase to $117.6 billion.^[1]

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