Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global in vitro diagnostic reagents market is expected to be driven by an increase in the number of authorized clinical laboratories and the prevalence of chronic diseases.
Application of In Vitro Diagnostic Reagents in Clinical Chemistry and Special Chemistry to Soar
The latest report by Fact.MR provides in-depth analysis of drivers, restrains, and emerging trends shaping future outlook of the in vitro diagnostic market. The report studies various factors affecting the demand across market segments in terms of type, application and end user.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global in vitro diagnostic reagents market is expected to be driven by an increase in the number of authorized clinical laboratories and the prevalence of chronic diseases. Increased laboratory testing and diagnostic procedures have resulted from an increase in the worldwide elderly population and consumer knowledge of precautions, boosting the growth of the market. Demand for IVD reagents is expected to grow at a higher-single digit CAGR during the forecast period, 2019-2029.
The rapid expansion of the IVD Reagent market is due to an increase in healthcare spending and demand for genomic and proteomic services. Furthermore, in most countries, obtaining approval from regulatory bodies to perform diagnostic tests has become a must for all clinical laboratories, which contributes to the growth of the IVD reagents market. Countries such as Ireland, France, and Belgium, for example, have made certification for a variety of laboratory tests mandatory.
In addition, the market is expected to grow due to technological advancements in in vitro diagnostic products, technologies, software, and services.
Chemical, biochemical, and immune-chemical reagents are the three categories of in-vitro diagnostic reagents employed. Chemical reagents, which include dyes, surfactants, buffers, and basic compounds, are the most common IVD reagents. Biochemical and immunochemical reagents, for example, are more complicated, with multiple processes and working components. Hence, chemical reagents market is expected to witness positive growth in the coming years
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The COVID-19 epidemic prompted international lockdowns in order to monitor social distance. These lockdowns had a significant influence on every industry and business. Similarly, the COVID-19 outbreak had an impact on the in vitro diagnostics sector. Multiple diagnostic test manufacturers have developed and began offering various tests and kits prepared utilizing IVD reagents in response to the COVID-19 epidemic and shortages of laboratory-based molecular testing capacity and reagents. These easy test kits are based on the detection of COVID-19 viral proteins in respiratory samples or the identification of human antibodies developed in response to infection in blood or serum. As a result of the pandemic, the use of IVD reagents for kits and assay preparation using immunoassay and molecular diagnostics technology has increased.
According to the report, North America has emerged as the most prominent region due to improved technology, laboratory automation, a surge in the use of molecular diagnostics for cancer screening and genetic disorders, and the presence of top manufacturers in the region
Key Takeaways from In Vitro Diagnostic (IVD) Reagent Market Survey
- North America leads the in vitro diagnostic reagent market owing to technological advancements.
- South Asia region is expected to be the fastest-growing region in the market owing to development of healthcare infrastructure and increase healthcare spending.
- Application of IVD reagents in clinical chemistry and special chemistry testing laboratories to witness positive growth.
Key Drivers
- Rising incidences of acute and chronic infectious diseases coupled with growing geriatric population to drive the in vitro diagnostic reagent market.
- Usage of flow cytometry techniques in research and academia and rising proteomics and genomics research studies to propel the demand of in vitro diagnostic reagents.
Key Restraints
- In most countries, the reimbursement situation for IVD tests is complex, stifling the growth of the IVD Reagent market.
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Competitive Landscape
Some of the prominent players operating in the in vitro diagnostic (IVD) reagent market profiled by Fact.MR are:
- Biokit
- EKF Diagnostic Holdings
- Meridian Life Science
- Polymed Therapeutics
More Insights on the In Vitro Diagnostic (IVD) Reagent Sales Outlook
Fact.MR provides an unbiased analysis of in vitro diagnostic (IVD) reagent market, presenting forecast statistics for the period from 2019-2029. The study divulges compelling insights on the global demand for in vitro diagnostic reagents with a detailed segmentation on the basis of:
Type:
- Chemical
- Bio-chemical
- Immunochemical
Application:
- Immunoassay
- Clinical Chemistry
- Molecular Diagnostics
- Hematology
- Urinalysis
- Others
End-Use:
- Healthcare Institutes
- Independent Laboratories
- Research Institutes
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Key Questions Covered in the In Vitro Diagnostic (IVD) Reagent Market Outlook Report
- The report offers insight into in vitro diagnostic reagents demand outlook for 2019-2029
- The market study also highlights projected sales growth for in-vitro diagnostic reagents market between 2019 and 2029
- In vitro diagnostic reagents market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- In vitro diagnostic reagents market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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