In vitro diagnostics to be valued at $141.9b by 2029

Point-of-care testing is gaining popularity over traditional hospital and clinic diagnostics.

The in vitro diagnostics market is projected to reach $141.9b by 2029 at a compound annual growth rate of 8.4%, according to BCC Research.

The sector’s expansion is attributed to the increasing ageing population and the rise of chronic diseases, such as diabetes and heart conditions.

Point-of-care testing is gaining popularity over traditional hospital and clinic diagnostics, with demand surging post-pandemic.

Meanwhile, artificial intelligence integration is improving the accuracy and speed of disease detection, further driving market growth.