In Vitro Diagnostics And IVD Quality Control Industry | Forecast 2030
In Vitro Diagnostics And IVD Quality Control Industry Data Book – In Vitro Diagnostics & IVD Quality Control Market
Grand View Research’s In Vitro Diagnostics and IVD quality control industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, volumetric analyses, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. The following data points will be included in the final product offering in two reports and one sector report overview.
The global In Vitro Diagnostics (IVD) and IVD quality control markets combine to account for USD 112.79 billion in revenue in 2021, which is expected to reach USD 114.73 billion by 2030, growing at a cumulative rate of 0.2% over the forecast period. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces.
In Vitro Diagnostics Market Report Highlights
- Molecular diagnostics is anticipated to grow at the fastest CAGR from 2023 to 2030 owing to the rising adoption and usage rate
- Reagents held the largest market share owing to the surge in demand for genetic testing and enhanced availability of technologically advanced diagnostic tests in lower and middle-income countries with unmet clinical needs
- The infectious diseases application segment held the largest market share owing to the large volume of testing for infectious diseases globally
- North America dominated the global market in 2022 owing to the high demand for novel technologies, a large pool of key players, high prevalence of diseases, and advanced healthcare infrastructure
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In Vitro Diagnostics Quality Control Market Report Highlights
- In 2022, the clinical chemistry segment held the largest share of the market. The increasing demand for preventive medicine and the rapid transformation of clinical laboratories into highly automated and efficient businesses are some of the factors responsible for its high market share
- The quality control segment dominated the market in 2022 and is estimated to grow at the highest CAGR over the forecast period. Quality control in the research laboratory is concentrated on certifying the results provided to the individuals are precise
- The hospital segment held the largest share in 2022 due to the presence of highly advanced technology-based devices, such as Next Generation Sequencing (NGS), mass spectrophotometry, and microarrays, and the rising applications of the optimized quality-control procedures
- North America was a major revenue contributor in the global market in 2022 due to the presence of over 150,000 registered diagnostics laboratories. The clinical laboratories are required to provide accurate results and maintain the accuracy standards to retain their license to operate
- Many pharmaceutical companies are implementing the new draft guidance enforced by the U.S. FDA for data integrity on current Good Manufacturing Practices (cGMP)
- It provides information in relation to establishing robust operating procedures and strong management systems, obtaining high-quality raw materials, investigating deviations, and maintaining reliable diagnostic laboratories
- Hoffmann-La Roche Ltd., Siemens Healthcare GmbH, and Abbott Laboratories were some of the other major competitive players in 2021. Siemens Healthcare GmbH offered its services in 17 countries, with 48 production facilities. Furthermore, acquisitions and partnerships can increase the market share held by these companies. For instance, in October 2019, Siemens Healthineers GmbH announced a 10-year strategic partnership with Dallah Health Company for providing access to the latest technologies, such as computer tomography, angiography, magnetic resonance imaging, and ultrasound equipment. Additionally, these players are large and established and hence can innovate to sustain a competitive edge. This in turn offers the leading players to capitalize on consolidation opportunities in the market.
Some of the key distributors of the global in vitro diagnostics market:
- Una Health Ltd.
- Diachel Diagnostics S.A.
- BHR Diagnostics Pvt. Ltd.
- MD Doctors Direct GmbH
- Axon Lab AG
- Rafer, S.L.
- CTK Biotech, Inc.
- Diagnostic BioSystems
- Scientific Equipment Company
- Stat Services Inc.