JERSEY
CITY, N.J., May 2, 2024
/PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release
of a market assessment report on the "Global In Vitro
Diagnostic (IVD) Reagents Market – (By Type (Antibodies, Purified
Proteins and Peptides, Oligonucleotides, Others), By Technology
(Immunoassay, Clinical Chemistry, Molecular Diagnostics,
Microbiology, Hematology, Others), By Use (Clinical Use, Research
Use, Others), By End User (IVD Manufacturers, Academic Institutes
& Research Laboratories, Hospital Laboratories, Others)),
Trends, Industry Competition Analysis, Revenue and Forecast To
2031."
According to the latest research by InsightAce Analytic, the
Global In Vitro Diagnostic (IVD) Reagents Market is valued
at US$ 76.10 Bn in 2023, and it is expected to reach
US$ 113.15 Bn by 2031, with a
CAGR of 5.21% during the forecast period of
2024-2031.
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In vitro diagnostic (IVD) reagents are essential components of
medical tests that aid in the detection of diseases and
other health concerns, allowing for the improvement
of treatment decisions. They help monitor the patient's
vitals and are utilized for precise diagnostic testing of illnesses
and other underlying conditions. Each patient's best course of
treatment can be better determined with the help of these
diagnostic tests. With the rise in both acute and chronic
disorders continuing to rise, the in vitro diagnostics business is
seeing rapid growth.
The frequency of long-term health problems, such as diabetes and
cancer, heart disease, and tuberculosis, is on the rise in modern
workplaces, which is cause for concern. There has been a staggering
rise in the number of cases of infectious infections, respiratory
disorders, and gastrointestinal difficulties. It is anticipated
that the demand for diagnostic equipment will be driven by the
increasing occurrence of these illnesses, which drives the IVD
market.
The rise in investments in research and development (R&D)
aimed at developing more affordable treatments is likely to open up
promising prospects for market growth. However, the high cost of
instruments and the maintenance of diagnostic tablets impeded the
market's growth.
List of Prominent Players in the In Vitro Diagnostic (IVD)
Reagents Market:
- Thermo Fisher Scientific Inc
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc
- Agilent Technologies, Inc.
- QIAGEN N.V.
- Merck KGaA
- Beckman Coulter, Inc
- Hologic, Inc
- Abcam Ltd
- Bio-Techne Corp
- InBios International, Inc.
- SDIX, LLC
- RayBiotech, Inc.
- Sino Biological Inc.
- Other Market Players
Market Dynamics:
Drivers-
The growing demand for the in vitro diagnostic (IVD) reagents
market is fueled by many reasons that underscore the market's
significance in contemporary healthcare. The prevalence of
long-term health problems is increasing, which
is a key factor propelling the IVD Reagents Market.
Diabetes, heart disease, cancer, and infectious disorders like
hepatitis and HIV are all on the increase. When it comes to
diagnosing these disorders, intravenous diagnostic reagents are
vital. They allow for early identification, disease monitoring, and
therapy assessment. Intravenous diagnostic reagents are in high
demand due to the rising prevalence of chronic disorders. Advances
in diagnostic technology have boosted patient outcomes, which has
fueled market expansion.
Challenges:
The prime challenges are high cost, a shortage of competent
individuals, and a lack of norms and protocol because of
lockdowns and isolation in emerging countries, which are predicted
to slow the growth of the in vitro diagnostic (IVD) reagents
market. Healthcare systems around the world are
dealing with limited funding, which forces providers to
find ways to save costs without sacrificing quality.
Under these conditions, there is a lot of pressure on IVD
reagent producers to lower production costs without sacrificing
quality or dependability. Healthcare providers and consumers
are both price-sensitive, which makes the problem even
worse.
The COVID-19 pandemic broke out, and virus-related disruptions
have become increasingly widespread in several industries,
including the worldwide in-vitro diagnostic market. Service
providers have prioritized sanitizing and reorganizing workspaces
as a defence mechanism to increase resilience and decrease security
risks. Integrating digital collaboration tools has also been a need
for remote customer support. Businesses in the in-vitro diagnostic
industry are gradually making a return from the recession by
embracing digital technologies that allow them to grow their
customer base and increase productivity.
Regional Trends:
The North American in vitro diagnostic (IVD) reagents market is
anticipated to record a maximum market revenue share. It is
projected to grow at a high CAGR in the near
future because local businesses have a strong presence in the
area, and the infrastructure supporting various industries is
expanding.
The rising prevalence of long-term health issues, including
diabetes, heart disease, and cancer, is also a key factor
propelling the IVD industry forward. Besides, Asia Pacific had a considerable share in the
market due to improvements in healthcare expenditure and increased
usage of point-of-care devices.
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Recent Developments:
- In April 2023, ALPCO-GeneProof
and Thermo Fisher formed a
partnership to expand the former's portfolio of CE-IVD molecular
assays. Thermo Fisher provided a
portfolio comprising 37 CE-IVD molecular diagnostic assays that
were originally included in the portfolio of ALPCO-GeneProof. The
assays were constructed utilizing their groundbreaking "one
workflow" technology, which facilitated usability and ensured
compatibility with an extensive array of qPCR instruments.
- In June 2022, Biotec CerTest and
BD Jointly developed a molecular diagnostic assay for monkeypox.
The collaboration involved the utilization of the BD MAX™ open
system reagent suite in the assay to verify the functionality of
the CerTest VIASURE Monkeypox CE/IVD molecular test on the BD MAX™
System. The assay, which was accessible to BD MAX™ users, had the
potential to contribute to the advancement of knowledge regarding
the worldwide dissemination of the disease.
Segmentation of In Vitro Diagnostic (IVD) Reagents
Market-
By Type-
- Antibodies
- Purified Proteins and Peptides
- Oligonucleotides
- Others
By Technology-
- Immunoassay
- Clinical Chemistry
- Molecular Diagnostics
- Microbiology
- Hematology
- Others
By Use-
- Clinical Use
- Research Use
- Others
By End user-
- IVD Manufacturers
- Academic Institutes & Research Laboratories
- Hospital Laboratories
- Others
By Region-
North America-
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and
Africa
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Why should buy this report:
- To receive a comprehensive analysis of the prospects for global
In Vitro Diagnostic (IVD) Reagents market
- To receive industry overview and future trends of global In
Vitro Diagnostic (IVD) Reagents market
- To analyze the In Vitro Diagnostic (IVD) Reagents market
drivers and challenges
- To get information on the In Vitro Diagnostic (IVD) Reagents
market size value (US$ Mn) forecast till 2031
- Major Investments, Mergers & Acquisition in global In Vitro
Diagnostic (IVD) Reagents market industry
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