IVD Raw Materials Market
The global IVD raw materials market is facing strong development owing to the huge occurrence of inflammation and chronic ailments, huge demand for IVD testing and tools, increasing perception of early analysis and prevention of the diseases, and increase in accessibility of innovative home care kits for diagnostics of malignancy. Anyhow, strict rules about product grants and lower dissemination of IVD devices are few reasons anticipated to hinder growth of the market.
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Regional Insights
By Region, the global IVD raw materials market is divided into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.
Amidst regions, North America is anticipated to gain largest share in the market due the predicted timeline owing to the increasing cases of chronic disorders and increasing elderly populace in this region. For example, in vitro diagnostics can identify disorders or other problems, and can be utilized to screen a person’s complete health to help treat, diagnose, or stop disorder. According to CDC, chronic diseases, like cardiovascular diseases, malignancy, and mellitus, are the dominating reason of fatality and disability in the U.S. Six in ten Americans suffer from at least one type of chronic ailments.
Asia Pacific is also anticipated to advocate potential growth in the global IVD raw materials market owing to the rising cases of chronic disorder and growing elderly populace in this region. For example, two in every three elder people in India suffer from few chronic disorders, as per the first LASI by the Union Ministry of Family and Health Welfare. This further is anticipated to enhance demand for IVD raw materials in this region.
Drivers:
Increasing prevalence of chronic disorders globally is anticipated to propel the growth of the global IVD raw materials market over the predicted timeline. Chronic disorders are the main causes of disability and death amidst the geriatric populace globally. As per WHO, NCDs kill 41 million people annually, around 71% of all fatalities across the globe. Heart diseases hold for most Non- Communicable Diseases fatalities, after cancers and diabetes. Around 77% of all Non-Communicable Diseases deaths are in low- and middle-income economies.
Technological innovations in IVD raw materials is predicted to fuel the growth of the global IVD raw materials market over the predicted timeframe. For example, in October 2021, ELITech Group announces the endorsement of ELITe BeGenius, the new CE-IVD stand-alone ‘Sample – to – Result; Real Time PCR solution. ELITe BeGenius makes molecular biology thanks to its solid footprint, excluding ease-of-usage, and overall automation. It is a method for labs keen on enhancing daily efficacies and for laboratories looking to bring more trials in house.
Opportunities:
Rising perception and approval of personalized drugs is anticipated to provide notable growth opportunities for companies in the global IVD raw materials market. For example, the term precision medicine indicates to the adaption of therapeutics to every individual based on their unique DNA and physiologic individualities. The trend for personalized drugs is propelling need for diagnostics. IVD can be utilized in precision drugs to detect sufferers who are probably to be benefitted from particular therapies.
Rise in the usage of POC diagnostics is anticipated to offer notable growth opportunities for companies in the global IVD raw materials market. The market is being propelled by rising need for quick analysis trials, which has driven industry players to offer Point Of Care solutions to distributed regions. In May 2020, FDA granted Abbott’s ID NOW, the molecular Point Of Care test, which offers COVID-19 findings in just 13 minutes and is used in a variety of decentralized hospital settings such as professionals’ offices and emergency care centers.
Global IVD Raw Materials Market Trends:
Rise in need for IVD raw materials globally is predicted to fuel growth of the global IVD raw materials market. For example, in May 2022, Agilent Technologies Inc. declared that CE-IVD marked instruments formerly, kits, and reagents were unconfined as IVDR Class A, in acquiescence with the novel EU IVDR regulation. This introduction of IVDR-compliant Class A products guarantees that laboratories in the European Union who depend on Agilent IVDR devices, kits, and reagents in their analytical workflows will constantly be capable of using these goods without interruption.
Rising geriatric populace globally is projected to fuel the growth of the global IVD raw materials market. For example, chronic disorders are the dominating causes of disability and fatality amidst the geriatric populace globally. As per WHO, by 2030, 1 in 6 people in the world will be aged 60 years or above, and by 2050, the global population of people above 60 years will double (2.1 billion).
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Restraints:
Strict rules about the approval of products are anticipated to hinder growth of the global IVD raw materials market. IVD instruments are the most vastly regulated goods produced and promoted in the globe. In the EU, necessity for device security and enactment are laid out in sector-specific legislation that comprises clinical instruments and in vitro diagnostic directives. (EU) 2017/746 (IVDR) will change the EU’s present directive on IVD medical instruments.
Less penetration of IVD instruments in low-income and middle-income economies is predicted to impede growth of the global IVD raw materials market. For example, IVD is important for disease identification, regulation, and management. Anyhow, accessibility to quality-assured analysis has emerged as a main challenge in low- and middle-income economies, leading in delayed or inappropriate diagnosis and inefficient therapy, which affects patient protection.
Global IVD Raw Materials Market Segmentation:
The global IVD raw materials market report is divided into Product, Technology, End-User, and Geography.
Based on Product, the market is divided into Antibodies and Antigens, Biological Buffers, Enzymes, Proteins, and Others. Out of which, Antibodies and Antigens Segment is projected to lead the IVD raw materials market during the predicted duration and this is accredited to the rise in need for IVD appliances over the globe. Antigens and antibodies are the main raw materials utilized in the production of IVD appliances and reagents.
Enzymes Segment is also predicted to spectator notable growth in the upcoming future and this is due to the rising usage of IVD devices and rise in use of IVD. Enzymes are utilized for several IVD uses such as histology, molecular diagnostics, microbiology, hematology, POC, mellitus care, immunoassay, coagulation, and medical chemistry.
Based on Technology, the IVD raw materials market is divided into Molecular diagnostics, Clinical Chemistry, Immunochemistry, and others. From which, Clinical Chemistry Segment is anticipated to lead the market over the predicted timeframe owing to technological innovations in IVD devices. Various developments in medical chemistry are attributable to the current innovations in automation technologies.
Molecular Diagnostics Segment is also anticipated to spectator strong growth in the upcoming future and this is owing to the rising incidences of infectious disorders across the globe. Molecular diagnostics are utilized in detecting infectious disorders such as influenza virus, chlamydia, and TB, or particular strains such as H1N1 virus or COVID-19.
Based on End-User, the market is divided into Diagnostic Laboratories, Pharma, Biotech, & MedTech Companies, and Others. In which, Pharma, Biotech, & MedTech Companies Segment is anticipated to dominate the IVD raw materials market during the predicted duration and this is accredited to the rise in disorders and growing need for IVD instruments, as IVD can identify disorders or other situations, and can be utilized to screen the person’s whole health to aid cure, treat, and/or stop disorder.
Key Developments
In June 2022, Medix Biochemica adopted 100% of the shares of Bioresource Technology to increase its base matrix capacities and further reinforcement its local existence in the US market. Medix will offer its end users with a complete contribution of raw materials for their IVD quality control goods.
In March 2022, Medix Biochemica declared the introduction of revitalized brand to reflect both the enhancements to its contribution resulting current attainments, and its continuing commitment to the IVD industry. The company expects that its enhanced growth will start its status as the ultimate IVD raw materials producer.
Global IVD Raw Materials Market: Key Companies Insights
The global IVD raw materials market is largely competitive. This is accredited to the rising prevalence of chronic disorders and rising elderly populace, resulting, key players are targeting on introduction innovative substances in the market.
Few key players in the global IVD raw materials market are F. Hoffmann-La Roche, Fujirebio, Merck KgaA, Aalto Bio Reagents, Fapon Biotech, and Thermo Fisher Scientific, among others.
*Definition: In vitro diagnostics can identify disorders or other problems, and can be utilized to screen a person’s complete health to help cure, treat, and/or stop disorder. The main raw materials of IVD reagents/kits comprise antibodies, antigens, enzymes, etc., which are essential causes of the standard and efficiency of the reagents/kits.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Technology
- Market Snapshot, By End User
- Market Snapshot, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- High prevalence of chronic diseases across the world
- Stringent regulations regarding product approvals
- Increase in the use of point-of-care (POC) diagnostics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global IVD Raw Materials Market Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global IVD Raw Materials Market, By Product, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Antibodies & Antigens
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Enzymes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Proteins
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Biological Buffers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global IVD Raw Materials Market, Technology, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Clinical Chemistry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Immunochemistry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Molecular diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global IVD Raw Materials Market, By End User, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Pharma, Biotech & MedTech Companies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Diagnostic Laboratories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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