TO BE PUBLISHED : May 2022 | Pages : 328
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The Global In Vitro Diagnostics (IVD) Raw Materials Market Size, Share, & Trends Analysis Report by
Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2022–2027.
328 Pages
164 Tables
140 Charts
5 Regions
13 Countries
39 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 34.25 BILLION (2027) |
| CAGR (REVENUE) | 5.86% (2022-2027) |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2027 |
| MARKET SEGMENTS | Product: Antibody & Antigen, Enzymes, Proteins, Biological Buffers, and Others, Technology: Clinical Chemistry, Immunochemistry, Molecular Diagnostics, and Others, End-User: Pharma & Biotech Companies, Diagnostic Laboratories, and Others, Geography: Europe, North America, APAC, Latin America, and Middle East & Africa |
| GEOGRAPHICAL ANALYSIS | Europe, North America, APAC, Latin America, and Middle East & Africa |
| COUNTRIES COVERED | Germany, Italy, France, UK, Spain, US, Canada, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, Turkey, Saudi Arabia, and South Africa |
IVD raw materials market size was valued at USD 24.34 billion in 2021 and is expected to reach USD 34.25 billion by 2027, growing at a CAGR of 5.86% during the forecast period.
With the rise in chronic conditions and patient populations, the demand for diagnostics and laboratory tests increases. The growing demand for antigen and antibody-based tests that increased during COVID-19 led to its major market share. It is expected to have the highest incremental growth of USD 3.92 billion and absolute growth of 44.41% during the forecast period.
The Europe region is one of the matured markets for in-vitro diagnostic; the large laboratory instruments are highly automated compared to most point-of-care testing devices. Automation has increased the speed and ease of using the devices the workforce is thoroughly trained and adopted. Furthermore, the global IVD raw materials market is expected to witness an incremental growth of USD 9.91 billion and absolute growth of 40.73% by 2027.
Rapid tests developed through clinical chemistry provides test results immediately. Manufacturers offer many IVD raw materials applicable to clinical chemistry methods. The global IVD raw materials market by clinical chemistry is expected to reach USD 12.14 billion by 2027. Furthermore, private laboratories have expanded their footprints in recent years, especially in developing countries, which has stimulated market growth. Moreover, the demand for standalone reference laboratories is gradually rising due to the prevalence of epidemic and pandemic conditions across the globe. The global IVD raw materials market by diagnostic laboratories will grow at a CAGR of over 6% during 2022-2027.
Major manufacturers of IVD raw materials are focusing on their proprietary processing techniques that satisfy the raw material requirements of the IVD industry and provide IVD raw materials made to their own with the off-the-shelf specification. Vendors are constantly investing resources in R&D projects based on market trends and the demand for general health management. Key players are also engaged in strategic acquisitions as part of their inorganic growth strategy to enhance sales and profit margins. Strategic M&As continue to be an essential competitive strategy for key players to expand product offerings, access new technology, or increase market share. Vendors also focus on developing and commercializing innovative analyzers, COVID-19 PCR rapid test kits, and consumables to remain competitive and gain a significant presence in the IVD raw materials market.
In 2021, Europe dominated the global IVD raw materials market compared to other regions. This region is a mature market with developed diagnostic infrastructure available in most countries. The demand for advanced molecular diagnostics in the European countries has gone high owing to the presence of advanced infrastructure in healthcare diagnosis. Point of care diagnostics is the latest trend in the European market. The Europe IVD raw materials market is expected to reach USD 11.80 billion by 2027.
The IVD raw materials market to reach USD 34.25 billion by 2027.
Increasing prevalence of infectious & chronic diseases, growing awareness for early diagnosis and disease prevention, and surge in demand For IVD testing & devices are the growth enablers in the market.
Key players include Aalto Bio Reagents, Fapon Biotech, Fujirebio, Merck KGaA, F. Hoffmann-La Roche, and Thermo Fisher Scientific.
Europe holds the largest share in the IVD raw materials market.
Rising demand for point of care PCR diagnostics, personalized medicine, and molecular diagnostics are the key trends in the IVD raw materials market.
The IVD raw materials market by revenue is expected to grow at a CAGR of 5.86% during 2022-2027.
The following factors are likely to contribute to the growth of the IVD raw materials market during the forecast period:
Base Year: 2021
Forecast Year: 2022-2027
The report considers the present scenario of the IVD raw materials market and its market dynamics for 2022−2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the market.
Key Vendors
Other Prominent Vendors
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