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In Vitro Diagnostics (IVD) Quality Control Global Market Report 2024 To 2033 | Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., LGC Limited
In Vitro Diagnostics (IVD) Quality Control Market Segments
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According to The Business Research Company's, The in vitro diagnostics (ivd) quality control market size has grown strongly in recent years. It will grow from $1.33 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to regulatory compliance, increasing prevalence of diseases, growing aging population, expansion of diagnostic laboratories, increased awareness and demand for precision medicine.
The in vitro diagnostics (ivd) quality control market size is expected to see strong growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to personalized medicine advancements, point-of-care testing expansion, digital health integration, adoption of next-generation sequencing (ngs, global health security concerns, integration with electronic health records (ehr): . Major trends in the forecast period include multi-analyte quality control materials, ai and machine learning applications, on-demand quality control solutions, continuous monitoring and real-time feedback, portable and easy-to-use quality control devices.
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Market Drivers and Trends:
The rise in the prevalence of infectious diseases such as HIV and cancer is significantly contributing to the growth of the in vitro diagnostics quality control market. Infectious diseases are common and caused by the transmission of pathogens such as viruses, bacteria, fungi, or parasites. The rise in infectious diseases, including HIV and cancer cases, necessitates novel diagnostic testing goods and services for effective treatment, which is driving up demand for in vitro diagnostics quality control that ensures the accuracy, performance, and quality of test equipment and findings. For instance, according to the Office for National Statistics, a UK-based recognized national statistics institute, in England at the end of the week ending December 9, 2022, the infection rate climbed for people aged 35 to 69 years and increased for those in school years 12 to 24 years. Therefore, the rise in the prevalence of infectious diseases such as HIV and cancer is expected to drive the growth of the in-vitro diagnostics quality control market over the forecast years.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., LGC Limited., Abbott Laboratories, Roche Diagnostics AG, Siemens AG, Ortho Clinical Diagnostics Inc., Helena Laboratories Corporation, Quidel Corporation, Microbiologics Inc., Sun Diagnostics LLC, SeraCare Life Sciences Inc., Fortress Diagnostics Ltd., Seegene Inc., Bio-Techne Corp., Randox Laboratories, Danaher Corporation, Sysmex Corporation, Beckman Coulter Inc., Grifols India Healthcare Private Limited., Hologic Inc., Qiagen NV, Becton Dickinson and Company, Luminex Corporation, BioMerieux SA, Meridian Bioscience Inc., Sekisui Diagnostics LLC, ZeptoMetrix Corporation, Maine Molecular Quality Controls Inc., Maine Standards Company LLC
In Vitro Diagnostics (IVD) Quality Control Market 2024 Key Insights:
• The in vitro diagnostics (ivd) quality control market size is expected to see strong growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Rise In Prevalence Of Infectious Diseases Driving Growth Of In Vitro Diagnostics Quality Control Market
• Growing Emphasis On Research And Development Driving Advancements In In Vitro Diagnostics Quality Control
• North America was the largest region in the in vitro diagnostics (IVD) quality control market in 2023
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