Press release
The IVD Raw Materials Market to Hit $38.05 Billion by 2029, More than $12 Billion Opportunities in the Next 6 Years - Arizton
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Report Summary
Market Size (2029): USD 38.05 Billion
Market Size (2023): USD 26.98 Billion
CAGR (2023-2029): 5.90%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product Type, Technology, End-User, & Geography
Geographical Analysis: North America, Europe, APAC, Latin America, Middle East & Africa
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The increasing prevalence of chronic conditions and a growing patient population are driving up the demand for diagnostics and laboratory tests. In vitro diagnostic (IVD) medical devices have emerged as a major sector in diagnosis, leading to significant advancements. This heightened utilization of IVDs has concurrently spurred a growing need for their raw materials. Additionally, trends towards point-of-care diagnostics and personalized medicine are further fueling the expansion of the IVD raw materials market.
IVD products, including devices and reagents, rely on essential raw materials such as antigens, antibodies, and enzymes. These components are crucial for ensuring the quality and effectiveness of IVD products. The rising demand for point-of-care diagnostics, personalized medicine, and the impact of COVID-19 have all accelerated the development of advanced IVD products, thereby increasing the demand for IVD raw materials.
Advancements and Future of In-Vitro Diagnostics (IVDs)
IVDs play a critical role in analyzing blood, bodily fluids, or tissue samples to detect illnesses, guide treatments, and prevent diseases. They are essential in advancing patient care through technologies such as companion diagnostics and precision medicine, which tailor treatments based on individual genetic, environmental, and lifestyle factors. The Human Genome Project's impact in the 21st century solidified personalized medicine by linking genetic makeup to health outcomes, paving the way for advanced diagnostic technologies.
IVD devices, especially companion diagnostics, are integral to personalized medicine by facilitating targeted treatments. Examples of such devices include pregnancy tests, blood glucose monitors, and cancer screening tools, which help identify predispositions and inform personalized treatment plans. Recent advancements in IVD technologies have further expanded personalized care with the development of home-based devices for monitoring conditions such as blood glucose levels, cholesterol, and hormonal balance.
The future of IVDs is set to undergo significant digital transformation, enhancing patient-centric care through user-friendly devices and real-time data connectivity. Manufacturers are anticipated to invest in digital strategies that simplify sample collection and improve access to diagnostic information. This shift is driven by the increasing demand for advanced IVD devices and rising disposable income among consumers.
Competitive Overview
Major manufacturers of IVD (in vitro diagnostic) raw materials are increasingly focusing on developing proprietary processing techniques tailored to the specific needs of the industry. They are also prioritizing innovative product development and broadening their product portfolios to maintain a competitive edge in the market.
To boost their market presence, these manufacturers are continuously introducing new products and expanding their offerings to address major infectious diseases and other medical conditions. Significant investments in research and development (R&D) are being made to enhance their product ranges. In addition, they are swiftly adapting to technological advancements and responding to new products launched by competitors.
Key players in the IVD raw materials market are actively pursuing strategic acquisitions to drive sales and profit margins. Mergers and acquisitions (M&As) are a key component of their growth strategy, enabling them to expand their product lines, gain access to new technologies, or increase their market share.
The launch of advanced IVD products by leading manufacturers, such as Roche's SARS-CoV-2 antibody test and Sysmex's novel antigen detection reagent, has significantly raised awareness and demand for IVD test kits, particularly in response to the COVID-19 pandemic.
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Key Vendors
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Merck KGaA
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Fujirebio
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Aalto Bio Reagents
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Fapon Biotech
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F. Hoffmann-La Roche
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Thermo Fisher Scientific
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ABclonal
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BBI Solutions
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Beijing Diagreat Biotechnology
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Biofootprints Healthcare
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BioPorto
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Creative Diagnostics
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CUSABIO Technology
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Eximio Biotec
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GenScript ProBio
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Getein Biotech
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Glentham Life Sciences
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HyTest
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ImmunoDiagnostics
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LGC Group
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Meridian Bioscience
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Medix Biochemica
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More Diagnostics
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MP Biomedicals
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Nanjing Okay Biotechnology
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Nitto Boseki group
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OYC Europe
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Prahas Healthcare
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Promega
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ReAgent
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Rockland Immunochemicals
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Sekisui Diagnostics
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SERION Immunologics
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Signalway Antibody
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Suzhou Yacoo Science
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Trina Bioreactives
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Watson International
Segmentation & Forecast
Product Type
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Antibody & Antigen
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Enzymes
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Proteins
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Biological Buffers
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Others
Technology
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Clinical Chemistry
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Immunochemistry
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Molecular Diagnostics
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Others
End-User
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Pharma & Biotech Companies
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Diagnostic Laboratories
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Others
Geography
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North America
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The U.S.
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Canada
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Europe
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Germany
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The U.K.
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France
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Italy
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Spain
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APAC
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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Turkey
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South Africa
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Saudi Arabia
Key Questions Answered in the Report:
How big is the global IVD raw materials market?
Which region dominates the global IVD raw materials market?
What are the key drivers of the global IVD raw materials market?
What is the growth rate of the global IVD raw materials market?
Who are the major players in the global IVD raw materials market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-ivd-raw-materials-market-to-hit-3805-billion-by-2029-more-than-12-billion-opportunities-in-the-next-6-years-arizton]
Phone: +1-312-235-2040/+1 302 469 0707
Country: United States
Website: https://www.arizton.com/market-reports/ivd-raw-materials-market
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