REDDING, Calif., July 8, 2024 /PRNewswire/ -- According to a new
market research report titled, 'IVD Reagents
Market Size, Share, Forecast, & Trends Analysis by
Type (Antibodies, Proteins, Oligonucleotides, Nucleic Acid Probes)
Technology (Immunoassay, Biochemistry, Microbiology, Hematology)
Use (Clinical, RUO) End User - Global Forecast to
2031,' published by Meticulous Research®, the
IVD reagents market is projected to reach $79.76 billion by 2031, at a CAGR of
5.3% from 2024 to 2031.
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In-vitro diagnostic (IVD) reagents include oligonucleotides,
antibodies, nucleic acid probes, purified proteins or peptides,
buffers, calibrators, serum, cell medium, and standards &
controls used in research activities. These reagents are used to
diagnose and prevent diseases or other conditions and manufacture
IVD kits & assays for diagnostic purposes.
The growth of this market is driven by the increasing prevalence
of infectious diseases, increasing funding for research activities,
the rising adoption of advanced diagnostic technologies, the growth
in proteomics and genomics research studies, and the growing number
of clinical laboratories offering advanced diagnostic testing
menus. Additionally, emerging economies and the growing demand for
protein therapeutics & personalized medicines are expected to
offer significant market growth opportunities.
However, the stringent regulations for antigen-specific reagents
restrain the growth of this market. Additionally, the high costs of
reagents and the unfavorable reimbursement scenario pose a
significant challenge to the market's growth.
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Increase in Proteomics and Genomics Research Studies to Boost
the Growth of the IVD Reagents Market
In recent years, there has been a surge in proteomics and
genomics-based research studies, driven by technological
advancements and the need to understand the genetic and molecular
bases of various diseases. These fields are utilized to identify
proteins and genes, along with their structures, functions, and
modifications, across multiple research areas, particularly in
medical research, drug discovery, and diagnostics. Researchers
commonly use various antibodies, including polyclonal, monoclonal,
recombinant, and mono-specific antibodies, due to their high target
specificity and strong affinity for target molecules.
Traditionally, proteomics and genomics studies relied on
conventional Sanger sequencing
technology to sequence and analyze single genes, amplicon targets,
genomic fragments, and short tandem repeats. However, according to
the National Human Genome Research Institute, Sanger sequencing can produce inaccurate
results, offer low throughput, and be time-consuming. Consequently,
it has recently been largely replaced by Next-Generation Sequencing
(NGS).
NGS allows the simultaneous analysis of 100 genes, requires a
lower amount of input material, and is cost-effective. Sanger sequencing costs about USD 500 per 1,000 bases, while NGS costs around
USD 0.50 per 1,000 bases. This
significant cost difference has prompted researchers to adopt more
sophisticated and specific techniques. Advanced genomics and
proteomics techniques leverage antibody-based research for
biomarker identification and drug development. For example, the
monoclonal antibody inhibitor trastuzumab (ErbB2, HER-2) has been
used as a monotherapy in women with HER-2 overexpressing metastatic
breast cancer.
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Proteomics research techniques, such as immunoprecipitation,
western blotting, and immunofluorescence, utilize antibody
fragments for high-throughput characterization and downstream
applications. The latest methods involve antibody chips and
intracellular immunization to obtain proteomics data with increased
reliability and robustness. Scientists use antibody-based tissue
profiling in clinical proteomics to generate data from both normal
and diseased tissues. Thus, the growth in proteomics and genomics
research studies is supporting the expansion of the IVD reagents
market.
The IVD reagents market is segmented based on type [Antibodies
(by Type {Monoclonal, Polyclonal}, Target {Cluster Differentiation
(CD), T-cell receptor (TCR), Epidermal Growth Factor Receptor
(EGFR), Other Targets), Purified Proteins and Peptides,
Oligonucleotides, Nucleic Acid Probes, Other Reagents], Technology
[Immunoassay/Immunochemistry (Enzyme-linked Immunosorbent Assays
(ELISA) and Enzyme-linked Immunospot Assays (ELISpot), Lateral Flow
Assays, Western Blotting, Immunofluorescence, Functional Assays,
Immunoprecipitation, Other immunoassay Technologies),
Biochemistry/Clinical Chemistry, Molecular Diagnostics (Polymerase
Chain Reaction (PCR), Hybridization, Isothermal Nucleic Acid
Amplification Technology, DNA Sequencing & Next-generation
Sequencing, Microarray, Other Molecular Diagnostics Technologies),
Microbiology, Hematology, Coagulation/Hemostasis, Urinalysis, Other
IVD technologies], Use [Clinical Use, Research Use Only (RUO),
Analyte-specific Reagents (ASR)], End User [Reference Laboratories,
IVD Manufacturers, Academic Institutes and Research laboratories,
Hospital Laboratories].and Geography. The study also evaluates
industry competitors and analyzes the market at the regional and
country levels.
The report also includes an extensive assessment of the key
growth strategies adopted by leading market players in the last
three to four years. Some of the key players operating in the IVD
reagents market are Thermo Fisher Scientific (U.S.), Becton,
Dickinson and Company (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.),
Agilent Technologies, Inc. (U.S.), Abcam plc (U.K.), Hologic Inc.
(U.S.), InBios International, Inc. (U.S.), SDIX, LLC (U.S.), Bio
Techne Corporation (U.S.), Bio-Synthesis Inc. (U.S.), RayBiotech,
Inc. (U.S.), Sino Biological Inc. (China), Oy Medix Biochemica Ab (Finland), QIAGEN N.V. (Netherlands), and Beckman Coulter, Inc. (U.S.).
Among the types, in 2024, the antibodies segment is expected to
account for the largest share of 22.1% of the IVD reagents
market. The large share of this segment is mainly attributed to the
widespread application of antibodies in medicine for research,
diagnosis, drug & IVD development, & disease treatment;
increasing proteomics & genomics-based research; funding for
R&D; and rising need for disease-specific biomarkers.
Among the technologies, in 2024, the immunoassay/immunochemistry
segment is expected to account for the largest share of
30.8% of the IVD reagents market. The large share of this
segment is mainly attributed to the rising demand for
immunoassay-based tests and the significant benefits of these
technologies, such as rapid, convenient, and accurate results for
the detection and quantitation of targets; continuous development
of new biomarkers; cost-benefit; and growing adoption of automated
platforms for ELISA.
Among the uses, in 2024, the clinical use segment is expected to
account for the largest share of the IVD reagents market. The
large market share of this segment can be attributed to the growing
need for the early detection of various epidemic and pandemic
infections and Initiatives by manufacturers for the development of
advanced IVD reagents for clinical applications.
Among the end users, in 2024, the IVD manufacturers segment is
expected to account for the largest share of 35% of the IVD
reagents market. The large market share of this segment can be
attributed to the increasing demand for innovative products and the
growing incidence of infectious diseases.
Based on geography, the global IVD reagents market is segmented
into North America (U.S.,
Canada), Europe (Germany, France, U.K., Italy, Spain,
Switzerland. Netherlands, Rest of Europe), Asia-Pacific (Japan, China,
India, Australia, South
Korea, Singapore, Rest of
Asia-Pacific), Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the
largest share of 37.7% of the global IVD reagents market.
North America's major market share
can be attributed to the rising funds and investments for research
reagents, increasing adoption of automated instruments, growing
automation in clinical & hospital laboratories, and increasing
prevalence of infectious diseases.
However, Asia-Pacific is slated
to register the highest CAGR during the forecast period. This is
attributed to factors such as rapid urbanization, increasing
investments by healthcare providers towards infrastructure
improvement, the presence of key IVD reagent companies in countries
like China, India, Singapore, and South
Korea, and government investments in research and
development activities. Furthermore, the need to manage the growing
burden of infectious diseases, growing accessibility to healthcare
services & advanced products, growing income levels of the
middle-class population, and increasing number of hospitals and
clinics contribute to the growth of this market.
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Scope of the Report:
IVD Reagents Market Size & Trend Analysis—by Type
- Antibodies
- Antibodies Market, By Type
- Monoclonal Antibodies
- Polyclonal Antibodies
- Antibodies Market, By Target
- Cluster of Differentiation (CD)
- T-cell Receptor (TCR)
- Epidermal Growth Factor Receptor (EGFR)
- Other Targets
- Purified Proteins and Peptides
- Oligonucleotides
- Nucleic Acid Probes
- Other Reagents
Notes: 1. Other targets
include Nucleic BCMA, DLL/Notch, EpCAM, HER2, PDGFRα, Claudin 18.2,
SLAMF7, and DKK1. B-cell maturation
antigen
(BCMA).
2. Other reagents include blocking agents, detergents, surfactants,
wetting agents, buffers, stabilizers, purified water, dyes,
standards and controls, enzymes, cell culture reagents, and
anti-coagulants.
IVD Reagents Market Size & Trend Analysis—by
Technology
- Immunoassay/Immunochemistry
- Enzyme-linked Immunosorbent Assays (ELISA) and Enzyme-linked
Immunospot Assays (ELISpot)
- Lateral Flow Assays (LFA)/Rapid Tests
- Western Blotting (WB)
- Immunofluorescence (IF)
- Functional Assays
- Immunoprecipitation (IP)
- Other Immunoassay Technologies
- Biochemistry/Clinical Chemistry
- Molecular Diagnostics
- Polymerase Chain Reaction (PCR)
- Hybridization
- Isothermal Nucleic Acid Amplification Technology
- DNA Sequencing & Next-generation Sequencing
- Microarray
- Other Molecular Diagnostic Technologies
- Microbiology
- Hematology
- Coagulation/Hemostasis
- Urinalysis
- Other IVD Technologies
Note: 1. Other
technologies include virus neutralization tests, agar gel
immunodiffusion, and
radioimmunoassay.
2. Other molecular diagnostic technologies include electrophoresis,
ligase chain reaction (LCR), northern blot, and southern
blot.
3. Other IVD technologies include anatomical pathology,
histochemistry, and whole blood glucose monitoring.
IVD Reagents Market Size & Trend Analysis—by Use
- Clinical Use
- Research Use Only (RUO)
- Analyte-specific Reagents (ASR)
IVD Reagents Market Size & Trend Analysis—by End
User
- Reference Laboratories
- IVD Manufacturers
- Academic Institutes and Research Laboratories
- Hospital Laboratories
IVD Reagents Market Size & Trend Analysis—by
Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Switzerland
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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