In Vitro Diagnostic (IVD) Reagent Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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In Vitro Diagnostic (IVD) Reagent Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : September, 2020 | Chemical & Materials | PPT format

Report Digest


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:

  • Chemical
  • Bio-chemical
  • Immunochemical

Based on application, the IVD Reagent Market is segmented as:

  • Immunoassay
  • Clinical Chemistry
  • Molecular Diagnostics
  • Hematology
  • Urinalysis
  • Others

Based on the end-use, the global IVD Reagent Market is segmented as:

  • Healthcare Institutes
  • Independent Laboratories
  • Research Institutes

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:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends / Issues / Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

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:

  • A Detailed overview of the parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.