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In Vitro Diagnostics (IVD) Quality Control Market: Major Trends Reshaping the Future of the Industry
In Vitro Diagnostics (IVD) Quality Control
What Will the In Vitro Diagnostics (IVD) Quality Control Industry Market Size Be by 2025?
The market size for In Vitro Diagnostics (IVD) quality control has seen notable growth in recent times. It is projected to expand from $1.4 billion in 2024 to $1.49 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this historic growth include regulatory compliance requirements, a surge in disease prevalence, an expanding aging population, the growth of diagnostic laboratories, and a heightened awareness and demand for precision medicine.
What's the Long-Term Growth Forecast for the In Vitro Diagnostics (IVD) Quality Control Market Size Through 2029?
The market for in vitro diagnostics (IVD) quality control is predicted to witness considerable expansion in the upcoming years, potentially reaching a value of $2.09 billion in 2029 with a compound annual growth rate (CAGR) of 8.7%. The surge expected in the forecast duration could be due to the advances in personalized medicine, the broadening of point-of-care testing, integration with digital health, the uptake of next-generation sequencing (NGS), concerns related to global health security, and alignment with electronic health records (EHR). The weather vane for forthcoming trends includes multi-analyte quality control materials, the application of artificial intelligence and machine learning, bespoke quality control solutions, persistent monitoring with real-time responses, and portable, user-friendly quality control appliances.
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What Are the Key Growth Drivers Fueling the In Vitro Diagnostics (IVD) Quality Control Market Expansion?
An increase in infectious diseases like HIV and cancer is considerably boosting the growth of the in vitro diagnostics quality control market. These infectious diseases spread through pathogens like viruses, bacteria, fungi, or parasites and are prevalent. The escalating cases of such diseases, especially HIV and cancer, call for new diagnostic tests and services for efficient treatment. This, in turn, intensifies the demand for in vitro diagnostics quality control, which verifies the precision, functionality, and quality of the testing tools and results. For example, data from the Office for National Statistics, a leading statistics organization in the U.K, revealed that, by the end of the week of December 9, 2022, the rate of infection rose among individuals aged between 35 and 69 years and also incremented in school children aged 12 to 24 years. Thus, increases in infectious diseases like HIV and cancer are likely to fuel the growth of the in-vitro diagnostics quality control market in the coming years.
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What Are the Key Trends Driving In Vitro Diagnostics (IVD) Quality Control Market Growth?
The growth of the in vitro diagnostics quality control market is being shaped by escalating research and development activities. Key players in the in vitro diagnostics (IVD) quality control market are coming up with innovative products to gain a competitive advantage. For example, in November 2023, the Netherlands-based Digital Technology company, Newland EMEA, introduced a forward-thinking suite of in vitro diagnostics (IVD) products at the MEDICA trade fair. This consisted of five advanced barcode scanners specifically designed for the healthcare sector. These include the high-speed FM510 and FM530, the versatile FM550, and the smart FM600 camera, all aimed at boosting automation in IVD procedures, and enhancing diagnostic speed and precision. This inaugural distribution highlights Newland EMEA's drive towards progress in automatic identification and data collection technology. The ultimate goal is to augment patient care by creating more effective healthcare solutions.
How Is the In Vitro Diagnostics (IVD) Quality Control Market Segmented?
The in vitro diagnostics (IVD) quality control market covered in this report is segmented -
1) By Product type: Quality Control Products, Data Management Solutions, Quality Assurance Services
2) By Manufacturer Type: IVD Instrument Manufacturers, Third Party Quality Control Manufacturers
3) By Application: Clinical Chemistry, Hematology, Immunoassay, Molecular Diagnostics, Microbiology, Coagulation Or Hemostasis, Other Applications
4) By End-Users: Hospitals, Clinical Laboratories, Research And Academic Institutes, Other End Users
Subsegments:
1) By Quality Control Products: Control Materials, Quality Control Kits, Proficiency Testing Samples
2) By Data Management Solutions: Software For Quality Control Management, Data Analysis Tools, Cloud-Based Solutions
3) By Quality Assurance Services: Consulting Services, Training And Education Services, Audit And Compliance Services
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Which Companies Are Leading the Charge in In Vitro Diagnostics (IVD) Quality Control Market Innovation?
Major companies operating in the in vitro diagnostics (IVD) quality control market include 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, 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.
Which Regions Are Leading the Global In Vitro Diagnostics (IVD) Quality Control Market in Revenue?
North America was the largest region in the in vitro diagnostics (IVD) quality control market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in vitro diagnostics (IVD) quality control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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