The global IVD quality control market is projected to grow at a CAGR of 3.8%
NEW YORK, March 17, 2020 /PRNewswire/ --
The global IVD quality control market is projected to grow at a CAGR of 3.8%.
The global IVD quality control market size is projected to reach USD 1,158 million by 2025 from USD 961 million in 2020, at a CAGR of 3.8% during the forecast period. The market for IVD quality control is primarily driven by the increasing number of accredited clinical laboratories, rising demand for external quality assessment support, and increasing prevalence of chronic and infectious diseases. However, the unfavorable reimbursement scenario for IVD tests will restrain the market growth.
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In 2019, the independent controls segment accounted for the largest share of the market.
On the basis of type, the third-party controls market is segmented into independent controls and instrument-specific controls.Independent controls segment accounted for the largest share of the third-party controls market in 2019.
The large share of this segment can be attributed to the fact that these controls are recommended by regulatory bodies to gain unbiased quality inputs and results.
In 2019, the hospitals segment accounted for the largest share of the market.
On the basis of end user, the hospitals segment accounted for the largest share of the global IVD quality control market in 2019. The large share of this segment is primarily attributed to the huge volume of IVD procedures being performed in hospitals and increasing focus on offering precise & accurate diagnostic test results.
APAC is projected to witness the highest growth during the forecast period.
The APAC market is estimated to register the highest CAGR during the forecast period. The growth in this market can be attributed to the region's large patient population and rising healthcare needs, increasing number of accredited laboratories, and rising prevalence of chronic and infectious diseases.
The breakdown of primary participants was as mentioned below:
-- By Company Type: Tier 1-35%, Tier 2-45%, and Tier 3-20%
-- By Designation: C-level-45%, Director Level-30%, and Others-25%
-- By Region: North America-40%, Europe-30%, Asia Pacific-20%, Latin America-5%, Middle East & Africa-5%
The leading players in this market include Bio-Rad Laboratories Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific Inc. (US), Technopath Clinical Diagnostics (Ireland), Bio-Techne Corporation (US), Fortress Diagnostics (UK), Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), SeraCare Life Sciences Inc. (US), Abbott Laboratories Inc. (US), Sysmex Corporation (Japan), Ortho-Clinical Diagnostics, Inc. (US), and Helena Laboratories (US).
Research Coverage:
The report analyzes the various quality control products and their adoption patterns.It aims at estimating the market size and future growth potential of the IVD quality control market for different segments such as product & service, application, manufacturer, end user, and region.
The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global IVD quality control market
-- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the global IVD quality control market
-- Market Development: Comprehensive information on the lucrative emerging regions by product & service, application, manufacturer, and end user
-- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global IVD quality control market
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global IVD quality control market
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