IVD Raw Materials Market, By Product (Enzymes, Biological Buffers, Antibodies & Antigens, and Others), By Technology (Immunochemistry, Clinical Chemistry, Molecular Diagnostics, and Others), By End-Users (Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others), and By Region - Trends, Analysis and Forecast till 2032

IVD Raw Materials Market was valued at USD 25.8 Billion in 2022 and is projected to grow at a CAGR of 11.60% to reach USD 49.3 Billion by 2032

IVD (In Vitro Diagnostic) products are the instruments, reagents and systems which are intended for use in diagnosis of disease. IVD testing are used for monitoring a person’s general health and thus, used in precision medicine.

IVD Raw Materials Market Drivers and Restrains:

Growing prevalence of chronic diseases and demand for IVD products to fuel market growth

Growing prevalence of chronic diseases across globe has become major contribution in market growth. Rising ageing population coupled with growing chronic diseases has further boost the demand for market growth. Advancement in medical technologies has increased lifespan of humans in last decade. Growing prevalence of cancer diseases and infectious diseases has given rise in IVD technologies such as molecular diagnostics, immunoassay, hematology, microbiology which in turn, facilitate the demand for IVD Raw Materials.

For instance, in 2019, according to CDC (Centers for Disease Control and Prevention), around 1,752,735 new cancer cases were reported and 599,589 people were died of cancer in United States.

For instance, in 2017 (PubMed Central), according to United Nations, the geriatric population aged 60 years or above across globe will triple by 2050, and rapidly growing geriatric population has increased likelihood of chronic and other type of diseases.

Restrains:

However, lower penetration of IVD devices in low-income region and stringent regulations regarding approval of IVD product has hampered the demand for IVD Raw Materials Market growth.

IVD Raw Materials Market Segmentation:

IVD Raw Materials Market is segmented based on Product, Technology, End-Users and Region.

Product Insight

On the basis of Product, IVD Raw Materials Market is segmented into Enzymes, Biological Buffers, Antibodies & Antigens, and Others.

Technology Insight

On the basis of Technology, IVD Raw Materials Market is segmented into Immunochemistry, Clinical Chemistry, Molecular Diagnostics, and Others.

End-Users Insights

On the basis of End-Users, IVD Raw Materials Market is segmented into Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others.

IVD Raw Materials Market Regional Insights:

On region the IVD Raw Materials Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America market is estimated to witness a significantly high revenue share over the forecast period due to rising prevalence of chronic diseases such as heart disease, cancer, and other. Further, growing geriatric population, robust healthcare infrastructure, continuous technological development and development of advanced medical devices has boost the market growth in the region.

For instance, according to the CDC (Centers for Disease Control and Prevention), in the United States, around 697,000 people died from heart disease, and around 20.1 million adults aged 20 and older are suffering from coronary artery disease (CAD), which in turn supports the growth of IVD Raw Materials Market.

Asia Pacific market is estimated to witness a fastest revenue share over the forecast period due to growing population, increased obesity, prevalence of chronic diseases and improved healthcare facilities.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032.

Few Other Promising Reports:

• IVD Contract Manufacturing Services Market
• In-Vitro Toxicology/Toxicity Testing Market

IVD Raw Materials Market Key Players:

The key players operating the IVD Raw Materials Market includes, Aalto Bio Reagents, Thermo Fisher Scientific, Fapon Biotech, Merck KgaA, Fujirebio, Hoffman-La Roche, ABclonal, Beijing Diagreat Biotechnology, CUSABIO Technology, Eximio Biotech, and Others.

Recent Development:

The New Launched Product News,

In August 2018, Creative Diagnostics launched new varieties of IVD raw materials in global market. The new launched featured products are DENV antigens of four distinct serotypes, tumor markers and Lp-PLA2 monoclonal antibody pair.

Strategic Acquisitions and Partnership News,

In July 2021, Medix Biochemica acquired 100% shares of Diaclone a provider of monoclonal antibodies in areas of oncology, inflammation and immunology. With this acquisition Medix will expand its leading portfolio of IVD (in-vitro diagnostics) raw materials with technological and complementary capabilities by strengthening its position in Western Europe market.

• Aalto Bio Reagents
• Thermo Fisher Scientific
• Fapon Biotech
• Merck KgaA
• Fujirebio
• Hoffman-La Roche
• ABclonal
• Beijing Diagreat Biotechnology
• CUSABIO Technology
• Eximio Biotech