Global IVD Raw Materials Market Report to 2027 - Growing Demand for Point-Of-Care PCR Diagnostics Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "IVD Raw Materials Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

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.

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.

The following factors are likely to contribute to the growth of the IVD raw materials market during the forecast period:

• Increasing Prevalence of Infectious & Chronic Diseases
• Growing Awareness for Early Diagnosis and Disease Prevention
• Surge In Demand for IVD Testing & Devices
• Rise In Availability of Advanced Home Care Kits for Cancer Diagnostics

Key Highlights

• Growing trends for point of care diagnostics and personalized medicine contribute to the growth of the IVD raw materials market.
• Investment in the development and commercial launch of IVD instruments and rapid test kits to diagnose several infectious diseases and their applications in the research segment will boost the market in developed countries.
• In 2021, pharma & biotech companies accounted for the major share of 62.19% in the global IVD raw materials market. However, diagnostic laboratories are likely to witness the highest absolute growth of 43.37% during the forecast period.
• Vendors offer a broad portfolio of quality enzymes that are highly suitable for manufacturing diagnostic kits and reagents. Manufacturers are also exploring new enzyme sources from enormous enzymes and optimizing and transforming the most appropriate enzyme molecules.

Market Dynamics

Opportunities & Trends

• Growing Demand for Point-Of-Care Pcr Diagnostics
• Surge in Preference for Personalized Medicine
• Rise in Demand for Molecular Diagnostics
• Advanced Technologies in Ivd Products

Growth Enablers

• Increasing Prevalence of Infectious & Chronic Diseases
• Growing Awareness of Early Diagnosis and Disease Prevention
• High Demand for Ivd Tests & Devices
• Rise in Availability of Advanced Home Care Kits for Cancer Diagnostics

Restraints

• Lot-To-Lot Variations in Ivd Reagents
• Stringent Regulations for Product Approvals
• Lower Penetration of Ivd Devices in Lmics

Market Segmentation

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.

by Product

• Antibody & Antigen
• Enzymes
• Proteins
• Biological Buffers
• Others

by Technology

• Clinical Chemistry
• Immunochemistry
• Molecular Diagnostics
• Others

by End-User

• Pharma & Biotech Companies
• Diagnostic Laboratories
• Others

by Geography

• Europe
• Germany
• Italy
• France
• UK
• Spain
• North America
• US
• Canada
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• South Africa

Key Vendors

• Aalto Bio Reagents
• Fapon Biotech
• Fujirebio
• Merck KGaA
• Hoffmann-La Roche
• Thermo Fisher Scientific

Other Prominent Vendors

• ABclonal
• BBI Solutions
• Beijing Diagreat Biotechnology
• Biofootprints Healthcare
• BioPorto
• Creative Diagnostics
• CUSABIO Technology
• EUPROTEIN
• Eximio Biotec
• GenScript ProBio
• Getein Biotech
• Glentham Life Sciences
• HyTest
• ImmunoDiagnostics
• LGC
• Medix Biochemica
• Meridian Bioscience
• More Diagnostics
• MP Biomedicals
• Nanjing Okay Biotechnology
• Nitto Boseki
• OYC Europe
• Prahas Healthcare
• Promega
• ReAgent
• Rockland Immunochemicals
• Sekisui Diagnostics
• SERION Immunologics
• Signalway Antibody
• Suzhou Yacoo Science
• Trina Bioreactives
• Watson International
• Wuhan Huamei Biotech

For more information about this report visit https://www.researchandmarkets.com/r/jupc2p