In vitro diagnostics (IVD) are the highest revenue segment of the medical device market. The global market for IVD products is estimated to be $74.1 billion in 2020, and it is expected to grow at a compound annual growth rate of 6.7% to reach $102.4 billion through 2025.

IVD includes analyzers, reagents, disposable and reusable products, and accessory software products used by both clinical and research laboratories around the world. IVDs range from simple self-use tests to state-of-the-art genomic tests performed in laboratories, which can be used in the diagnosis of infectious and chronic diseases, as well as for preventive care and drug therapy monitoring.