In Vitro Diagnostic (IVD) Reagent Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
IVD Reagent Market: Introduction
IVD reagents are used in vitro diagnostic procedures for patient diagnosis, monitoring, and treatment. These products are intended for use in the examination of specimens that are taken from the human body. It may also be used in various instruments ranging from small, handheld tests to complex laboratory instruments. There are three types of in-vitro diagnostic reagents used that include chemical, bio-chemical and immune-chemical. Chemical reagent is the basic IVD reagent used which incorporates dyes, surfactants, buffers, and basic chemicals. Other reagents such as biochemical and immunochemical are complex and incorporate numerous steps and working components. These find applications in clinical chemistry and special chemistry testing laboratories. IVD reagents market is anticipated to witness higher-single digit growth over the forecast period.
IVD Reagent Market: Dynamics
Increasing number of accredited clinical laboratories and incidences of chronic diseases are set to drive the global IVD reagents market. Rising geriatric population and consumer awareness towards precautions have led to increase in laboratory testing and diagnostic procedures which boosts the growth of IVD reagents market globally. Rise in the healthcare expenditure and demand for genomic and proteomic services has led to the rapid growth of the IVD Reagent market. Also, secure accreditation from regulatory bodies has become mandatory for all the clinical laboratories to perform diagnostic tests in most of the countries which further contributes to the growth of IVD reagents market. For instance, countries such as Ireland, France and Belgium have made mandatory accreditation for several laboratory tests. However, strict regulations and policies on new products and techniques for diagnosis are likely to hamper the growth of the IVD Reagent market to a certain extent. In addition, the reimbursement scenario for IVD test is unfavorable in most of the countries which dampen the growth of IVD Reagent market.
IVD Reagent Market: Segmentation
Based on type, the IVD Reagent Market is segmented as:
Based on application, the IVD Reagent Market is segmented as:
Based on the end-use, the global IVD Reagent Market is segmented as:
IVD Reagent Market: Regional Outlook
Global IVD Reagent market is divided into six regions including Latin America, North America, South Asia & Oceania, Europe, East Asia, and MEA. Among these regions, North America is surfaced as the prominent region owing to the presence of advanced technology, laboratory automation, increase in usage of molecular diagnostics for cancer screening and genetic disorders, and the presence of leading manufacturers in the region. Europe is expected to witness moderate growth due to the stringent government regulations on new and established products and established healthcare systems. East Asia, on the other hand, is expected to witness the highest growth over the forecast period due to the increase in healthcare infrastructure in China, increasing chronic diseases and introduction of several policies for the promotion of IVD procedures by the State Development and Reform Commission, Ministry of Health and the Ministry of Science. Moreover, South Asia region is anticipated to be amongst the fastest growing region in the IVD reagents market owing to increase in healthcare spending, rapid development of healthcare infrastructure in emerging countries such as India, and increase in per capita healthcare expenditure of the middle-class population in the region. Middle East & Africa and Latin American countries are expected to have a single-digit share in the market of IVD Reagent.
IVD Reagent Market: market stakeholders
Key market stakeholders in the global IVD Reagent market are Biokit, EKF Diagnostic Holdings, Meridian Life Science, Polymed Therapeutics, amongst others. The IVD Reagent market consists of numerous global and regional players with the global vendors ruling the market.
The research report presents a comprehensive assessment of the IVD Reagent market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The IVD Reagent market report provides analysis and information, according to market segments such as geographies, types and end-use.
IVD Reagent Market Report Covers Exhaustive Analysis On:
The IVD Reagent report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The IVD Reagent report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The IVD Reagent report also maps the qualitative impact of various market factors on market segments and geographies.
IVD Reagent Market Report Highlights:
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