A recent report published by Infinium Global Research on in-vitro diagnostics (IVD) quality control market provides in-depth analysis of segments and sub-segments in the global as well as regional in-vitro diagnostics (IVD) quality control market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional in-vitro diagnostics (IVD) quality control market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global in-vitro diagnostics (IVD) quality control market. The global in-vitro diagnostics (IVD) quality control market was valued at nearly USD 1300 million in 2022 and is expected to reach about USD 1800 million in 2030, with a CAGR of over 4% during the forecast period 2023-2030.
In-vitro diagnostic tests are conducted on collected blood tissue samples to detect various communicable and non-communicable diseases. Moreover, they can also be used to monitor a patient’s health, cure diseases, and enable medical professionals to identify the most effective treatment procedure or therapy for the patient. IVQ quality controls are products used to assess the quality and accuracy of these tests. Molecular diagnostics, blood-based controls, immunochemistry, and clinical chemistry are important IVD quality control methods. The rapid growth of the global geriatric population is anticipated to drive the IVD testing and quality control product market. Nevertheless, a significant obstacle for the in-vitro Diagnostics (IVD) quality controls industry is the absence of strict regulations surrounding quality controls in low- and middle-income nations.
The increase in the number of accredited clinical laboratories across that acts as one of the major factors driving the growth of the in-vitro diagnostics (IVD) quality control market. The increase in the geriatric population and consequent increase in the occurrence of chronic and infectious diseases accelerate the market growth. The increase in the adoption of POC instruments in developed regions and the rise in the number of accredited clinical laboratories further influence the market. On the other hand, additional costs and budget constraints in hospitals and laboratories, and unfavorable reimbursement scenarios for IVD tests are expected to obstruct the market growth. The lack of regulations for clinical laboratory accreditation and stringent product approval process is projected to challenge the in-vitro diagnostics (IVD) quality control market. Additionally, advancements in healthcare infrastructure, high disposable income, and the surge in healthcare expenditure, and rise in healthcare expenditure positively affect the in-vitro diagnostics (IVD) quality control market. Furthermore, the rise in demand for multi-test chemical controls extends profitable opportunities to the market players.
The in-vitro diagnostics (IVD) quality controls market based on geography can be segmented into North America, Asia-Pacific, South America, Europe, and the Rest of the World. The North American segment is predicted to dominate the in vitro diagnostics quality controls market during the forecast period. The presence of highly developed healthcare infrastructure, a growing geriatric population, rising cases of cancer, and high patient awareness regarding the importance of early diagnosis and treatment. Moreover, the growth in private and public expenditure on R&D is leading to the introduction of more innovative technologies in the region, thereby promoting growth. The Asia Pacific region is forecast to record the fastest growth. The increase in communicable and non-communicable diseases and growth in public healthcare funding in major developing economies like China and India.
The report on global in-vitro diagnostics (IVD) quality control market covers segments such as product and service, application, manufacturer type, and end user. On the basis of product and service, the sub-markets include data management solutions, quality control products, and quality assurance services. On the basis of application, the sub-markets include immunochemistry, microbiology, coagulation/hemostasis, clinical chemistry, molecular diagnostics, hematology, and other applications. On the basis of manufacturer type, the sub-markets include oems, and third-party control manufacturers. On the basis of end user, the sub-markets include clinical laboratories, hospitals, research and academic institutes, and other end users.
The report provides profiles of the companies in the market such as Bio-Rad Laboratories, Inc., LGC Group (acquires Seracare Life Sciences), Randox Laboratories Ltd., Siemens Healthcare Private Limited, Technopath Clinical Diagnostics, Sun Diagnostics, LLC, Ortho Clinical Diagnostics, Sysmex Corporation, BIOMÉRIEUX, and BD.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the in-vitro diagnostics (IVD) quality control market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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