In Vitro Diagnostics - Czechia | Statista Market Forecast

The projected revenue for the In Vitro Diagnostics market market in Czechia is estimated to reach US$342.10m in 2024.
This market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.21%, leading to a market volume of US$400.60m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue of US$30.10bn in 2024.
In Czechia, the In Vitro Diagnostics market is experiencing a surge in demand due to the country's growing elderly population and increasing focus on preventive healthcare.

Definition:
The market In Vitro Diagnostics (IVD) consists of medical instruments and accessories used to perform tests with the help of biological samples. In Vitro Diagnostics provide valuable information used for detection, prognosis, prevention, and therapeutic monitoring of diseases.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Roche Diagnostics, Abbott Laboratories, Danaher, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Molecular diagnosis
Immunoassays
Clinical chemistry
Microbiology
Hematology

Services (i.e., treatment expenses)
Imaging diagnostics

The In Vitro Diagnostics market in Czechia is experiencing steady growth due to increasing customer preferences for advanced diagnostic technologies and the rising prevalence of chronic diseases.

Customer preferences: Customers in Czechia are increasingly demanding advanced diagnostic technologies that provide accurate and timely results. They value diagnostic tests that are non-invasive, easy to use, and provide quick results. As a result, there is a growing demand for point-of-care testing (POCT) devices, which allow for rapid diagnosis and treatment decisions at the patient's bedside. Additionally, customers are also showing a preference for molecular diagnostics, which enable personalized medicine by identifying specific genetic markers and mutations.

Trends in the market: One of the key trends in the In Vitro Diagnostics market in Czechia is the increasing adoption of digital health technologies. This includes the use of telemedicine and remote patient monitoring, which allow for virtual consultations and real-time monitoring of patients' health conditions. These technologies not only improve access to healthcare in remote areas but also help in the early detection and management of chronic diseases. Furthermore, there is a growing trend of integrating diagnostic devices with electronic health records (EHRs) to streamline healthcare delivery and enhance patient outcomes.

Local special circumstances: Czechia has a well-developed healthcare system with a high level of healthcare expenditure. The country has a strong focus on preventive healthcare and early disease detection, which drives the demand for In Vitro Diagnostics. Additionally, Czechia has a high prevalence of chronic diseases such as cardiovascular diseases, diabetes, and cancer. This further fuels the demand for advanced diagnostic technologies that can aid in the early detection and management of these diseases.

Underlying macroeconomic factors: The In Vitro Diagnostics market in Czechia is influenced by several macroeconomic factors. The country has a stable economy with a high GDP per capita, which enables individuals to afford advanced healthcare services. Furthermore, the government of Czechia has been investing in the modernization of healthcare infrastructure and the implementation of digital health technologies. This creates a favorable environment for the growth of the In Vitro Diagnostics market. Additionally, the aging population in Czechia is contributing to the increased demand for diagnostic tests, as older individuals are more prone to chronic diseases and require regular monitoring. In conclusion, the In Vitro Diagnostics market in Czechia is witnessing steady growth due to increasing customer preferences for advanced diagnostic technologies, the rising prevalence of chronic diseases, and the government's focus on modernizing healthcare infrastructure. The adoption of digital health technologies and the integration of diagnostic devices with EHRs are key trends in the market. The local special circumstances, such as the emphasis on preventive healthcare and the high prevalence of chronic diseases, further drive the demand for In Vitro Diagnostics. The stable economy and aging population in Czechia are underlying macroeconomic factors that contribute to the growth of the market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.