In Vitro Diagnostics - Pakistan | Statista Market Forecast

The projected revenue in the In Vitro Diagnostics market market in Pakistan is set to reach US$79.14m in 2024.
This indicates a positive growth trend for the market in the country.
Furthermore, the revenue is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 3.46%, which will contribute to a market volume of US$93.83m by 2029.
In comparison to other countries, the United States is anticipated to generate the highest revenue in the In Vitro Diagnostics market market, amounting to US$30.10bn in 2024.
This highlights the significant market presence and dominance of the United States in this sector.
The demand for in vitro diagnostics in Pakistan is growing rapidly due to the increasing prevalence of infectious diseases.

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 Pakistan is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Pakistan are driving the growth of the In Vitro Diagnostics market. With an increasing focus on healthcare and a growing awareness of the importance of early disease detection, there is a growing demand for diagnostic tests. Customers are seeking reliable and accurate diagnostic tools to aid in the early detection and management of diseases. This has led to a surge in demand for In Vitro Diagnostics products such as blood tests, molecular diagnostics, and point-of-care testing. Trends in the market are also contributing to the growth of the In Vitro Diagnostics market in Pakistan. Advancements in technology have led to the development of more sophisticated and accurate diagnostic tools. This includes the use of molecular diagnostics, which allows for the detection of diseases at a genetic level, and point-of-care testing, which provides immediate results without the need for laboratory analysis. These advancements have made diagnostic tests more accessible and convenient for patients, driving the demand for In Vitro Diagnostics products. Local special circumstances in Pakistan are also playing a role in the growth of the In Vitro Diagnostics market. The country has a large population, which presents a significant market opportunity for diagnostic companies. Additionally, the government of Pakistan has been investing in healthcare infrastructure and promoting healthcare initiatives, further driving the demand for diagnostic tests. These special circumstances create a favorable environment for the growth of the In Vitro Diagnostics market in Pakistan. Underlying macroeconomic factors are also contributing to the growth of the In Vitro Diagnostics market in Pakistan. The country has been experiencing economic growth, which has led to an increase in disposable income and improved access to healthcare services. As a result, more people are able to afford diagnostic tests and are seeking healthcare services, driving the demand for In Vitro Diagnostics products. Additionally, the government has been focusing on healthcare reforms and initiatives, which has further propelled the growth of the In Vitro Diagnostics market. In conclusion, the In Vitro Diagnostics market in Pakistan is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for reliable and accurate diagnostic tests, advancements in technology, a large population, government initiatives, and economic growth are all contributing to the growth of the market. As a result, the In Vitro Diagnostics market in Pakistan is expected to continue to expand in the coming years.

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.