In-vitro Diagnostics (IVD) Packaging Market Global Insights 2020, Forecast to 2025 | Greiner Holding AG, Amcor Limited, COMAR, LLC

Global In-vitro Diagnostics (IVD) Packaging Market, delivering a must-read report for industry stakeholders wanting to understand the strategic landscape of this increasing sector. Readers will find an in-depth analysis of the market and how it will impact existing traditional markets, as well as insights into future development and opportunities across the globe.

According to the study, the In-vitro Diagnostics (IVD) Packaging market was valued at USD 7.22 billion in 2019 and is expected to reach USD 9.52 billion by 2025, at a CAGR of 4.5% over the forecast period 2020- 2025.

Some of the major players in the market are:

Amcor Limited, Aptargroup Incorporated, Corning Incorporated, Greiner Holding AG, Thermo Fisher Scientific Incorporated, COMAR, LLC., WS Packaging Group, DWK Life Sciences, amongst others.

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Market Overview:

In-vitro diagnostics are tests done on samples such as blood or tissue that are taken from the human body. In-vitro diagnostics can detect diseases or other conditions, and can also be used to monitor a person’s overall health to help cure, treat, or prevent diseases.

The global in-vitro diagnostic packaging market is booming mainly due to technological advancements, enhanced diagnostic tools, and increased availability of over-the-counter tests.

- The rapidly rising practice of self-testing by the people, an increasing number of point-of-care testing, increased government expenditures on healthcare, growing awareness of personalized medicine, and the increasing number of chronic diseases are some of the major factors boosting the growth of the in vitro diagnostics (IVD) packaging market.
- The importance of IVD packaging is increasing in the healthcare sector owing to the demand for faster diagnosis time and increased volume of samples obtained by the automation devices. This has resulted in the increased usage of IVD devices in hospitals.
- Other contributing factors boosting the growth of the market include the pressure from the governments and industries across the globe, to comply with the set regulations, due to the increasing demand for integrated healthcare systems. For instance, the FDA uses a risk-based regulatory scheme for medical devices (including IVDs).

Key Market Trends

Laboratories Segment to Witness High Growth

- As the hospitals and laboratories are some of the major consumers of in vitro diagnostic devices, the increasing revenues of these sectors are also expected to develop the market for IVD packaging across the globe.
- With the shift from the legacy systems to the commercial solutions favored by the laboratories, the market is expected to grow further as they provide a flexible and reliable method to manage data, resources, and workflows.
- Many governments across the globe are also regulating policies for laboratories having IVDs. For instance, in May 2018, Australia’s Therapeutic Goods Administration (TGA) unveiled guidance for laboratories to meet in vitro diagnostics (IVD) regulatory requirements.
- Moreover, the ongoing shift towards personalized medical devices is expected to create a demand for IVD devices. Also, the innovations in IVD devices are likely to accelerate the demand for IVD packaging during the forecast period.

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Asia-Pacific to Witness High Growth

- The Chinese government is increasing there healthcare expenditure primarily to focus on public health. With the increasing number of hospitals in China, it is justifying their investment in public health initiative, which is driving the market in this region.
- Moreover, Japan has faced the challenges of shrinking and aging population for several years. The latest population estimate by the Health, Labor, and Welfare Ministry, released in December 2018, points to the rapid decline of Japan’s population with fewer births. The number of babies born in the country, in 2018, is estimated at 921,000, which is 25,000 less than the previous year and falling short of 1 million for the third year in a row. These circumstances in the country have accelerated healthcare spending in the region.
- India is also considered as a lucrative market for generic R&D activities and manufacturing of pharmaceuticals, owing to its strong capabilities across the value chain. Moreover, India's competitive advantage also resides in the magnified success rate of Indian companies in getting the Abbreviated New Drug Application (ANDA) approvals, which is boosting the market growth.

Table of Contents:

1 Introduction
2 In-vitro Diagnostics (IVD) Packaging Market Research Methodology
3 Executive Summary
4 In-vitro Diagnostics (IVD) Packaging Market Dynamics
5 In-vitro Diagnostics (IVD) Packaging Market Segmentation
6 Competitive Landscape
7 In-vitro Diagnostics (IVD) Packaging Market Opportunities And Future Trends

Note:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.