New York, October 07, 2021 – Reports and Data has published its latest report titled “In-Vitro Diagnostics (IVD) Quality Control Market, By Product & Service Type (Quality Control Products, Whole Blood-based Controls, Serum/Plasma-based Controls, Urine-based Controls, Others), By Manufacturer (Third-Party Control Manufacturers, Original Equipment Manufacturers (OEMs), Instrument-Specific Controls, Others), By Application (Immunochemistry/Immunoassay, Coagulation & Hemostasis, Molecular Diagnostics, Clinical Chemistry, Others), By End-use (Hospitals, Home Care, Clinical Laboratories, Academic & Research Institutes, Others), And Region – Global Forecast To 2028”
Rise in demand for third-party IVD quality controls and increasing number of accredited clinical laboratories across the globe are major factors driving market growth
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According to Reports and Data, the global in-vitro diagnostics (IVD) quality control market size was USD 961.2 million in 2020 and is expected to reach USD 1,306.5 million in 2028 and register a revenue CAGR of 4.1% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
In vitro diagnostics (IVD) quality control refers to the assessment of IVD tests that are conducted to detect healthcare-associated infections including urinary tract infections. IVD quality controls determine the overall safety and efficacy of these tests and thus enhance laboratory performance. The efficacy of IVD devices is monitored by leading regulatory bodies including the U.S. Food & Drug Administration (FDA), Central Drug Standard Control Organization (CDSCO), and European Medicines Agency (EMEA). Some commonly used in-vitro diagnostics control and validation panels include human papillomavirus (HPV) control panel and blood culture (BCID) control panel.
Revenue growth of the global in-vitro diagnostics (IVD) quality control market is majorly attributed to growing prevalence of chronic diseases including diabetes and cancer, increasing cases of severe infectious diseases such as HIV/AIDS, rapid adoption of advanced in-vitro diagnostic solutions, and increasing use of at-home IVD products such as blood glucose monitoring kits. Rising number of accredited clinical laboratories, growing need for efficient assessment of IVD quality, increasing demand for third-party IVD quality controls, and presence of a favorable regulatory scenario create further growth opportunities for the global in-vitro diagnostics (IVD) quality control market.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Immunochemistry Application Segment to Account for Largest Revenue Share:
Based on application, the immunochemistry segment is projected to reach the largest market share over for the forecast period. Growing use of in-vitro diagnostics growing use of in-vitro diagnostics in immunochemistry, rising incidence of infectious diseases including the novel coronavirus disease, increasing need for production of antibodies and antigens, and increasing adoption of advanced in-vitro diagnostic techniques are key factors contributing to growth of this segment.
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Hospitals Segment to Dominate Other End-use Segments:
Based on end-use, the hospitals segment is expected to register the fastest revenue growth rate over the forecast period. Increasing prevalence of chronic and acute diseases, rising burden of infectious diseases, rapidly increasing cases of COVID-19, growing rate of hospital admissions, and increasing focus of healthcare professionals on adopting advanced diagnostic solutions are expected to drive growth of the hospitals segment.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, North America was the most dominant in the global in-vitro diagnostics (IVD) quality control market in terms of revenue share contribution in 2020. Rise in geriatric populace, growing prevalence of chronic and acute diseases, increasing cases of autoimmune disorders, and rising need for early disease diagnosis are major factors driving the North America in-vitro diagnostics (IVD) quality control market growth. Growing demand for advanced in-vitro diagnostics control panels for enhanced safety and efficacy of laboratory tests is another major factor driving market growth in the region.
Asia Pacific to Lead in Terms of Revenue CAGR:
The Asia Pacific in-vitro diagnostics (IVD) quality control market revenue growth is attributed to increasing prevalence of infectious diseases, exponentially rising number of COVID-19 cases, rising incidence of HIV/AIDS and urinary tract infection, and rapidly growing patient pool. Rapid advancement of the region’s healthcare infrastructure is another key factor contributing to the Asia Pacific market growth.
Major Companies in the Market Include:
- Abbott Laboratories Inc.
- Thermo Fisher Scientific
- Bio-Techne Corporation
- Bio-Rad Laboratories Inc.
- Siemens Healthineers
- Roche Diagnostics
- Technopath Clinical Diagnostics
- SeraCare Life Sciences Inc.
- Sysmex Corporation
- Fortress Diagnostics
- Randox Laboratories Ltd.
- Danaher Corporation
- Helena Laboratories
- Ortho-Clinical Diagnostics, Inc.
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For the purpose of this report, Reports and Data has segmented the global in-vitro diagnostics (IVD) quality control market based on product & service type, manufacturer, application, end-use, and region:
Product & Service Type Outlook (Revenue, USD Million; 2018-2028)
- Quality Control Products
- Whole Blood-based Controls
- Serum/Plasma-based Controls
- Urine-based Controls
- Data Management Solutions
- Quality Assurance Services
- Source-based IVD Quality Controls
Manufacturer Outlook (Revenue, USD Million; 2018-2028)
- Third-Party Control Manufacturers
- Original Equipment Manufacturers (OEMs)
- Instrument-Specific Controls
- Independent Controls
Application Outlook (Revenue, USD Million; 2018-2028)
- Coagulation & Hemostasis
- Molecular Diagnostics
- Clinical Chemistry
End-use Outlook (Revenue, USD Million; 2018-2028)
- Home Care
- Clinical Laboratories
- Academic & Research Institutes
- Contract Research Organizations (CROs)
- IVD Manufacturers
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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