In Vitro Diagnostics (IVD) Quality Control Market by Application (Immunoassay, Molecular Diagnostics, Microbiology, Hemostasis, Hematology), Source (Serum, Whole Blood, Urine), Type (Instrument Specific, Third Party Control) - Global Forecast to 2022
The global IVD quality controls market is expected to reach USD 1.04 billion by 2022, growing at a CAGR of 3.5% during the forecast period (2017 to 2022). The market is mainly driven by the growing number of accredited clinical laboratories and increasing adoption of third-party quality controls.
In this report, the IVD quality controls market is segmented by product and service, application, end user, manufacturer type, and region. On the basis of product and service, the market is segmented into quality controls, data management solutions, and quality assurance services. In 2016, the quality controls segment accounted for the largest share of the market. Growth in this segment is mainly attributed to the growing number of accredited laboratories and increasing mandates on the use of quality controls from regulatory bodies to ensure the accuracy of diagnostic test results.
In 2016, North America commanded the largest share of the IVD quality controls market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Increasing recommendations and approvals for quality controls from the FDA and the College of American Pathologists (CAP), presence of well-established distribution channels in the U.S., and presence of leading companies in the U.S. are the major factors responsible for the large share of the North American market. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growing focus of manufacturers towards the improvement of laboratory testing quality in this region and also manufacturers in these countries are looking forward to work with local government agencies and academic societies to offer external quality control in an effort to standardize laboratory testing procedure and to ensure accuracy.
Major players in the IVD quality controls market are Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Randox Laboratories (U.K.), Roche Diagnostics Limited (Switzerland), Abbott Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Siemens Healthcare (Germany), and Sysmex Corporation (Japan).
• Detailed insights on all the submarkets, based on application (immunochemistry, clinical chemistry, molecular diagnostics, hematology, microbiology, coagulation/hemostasis, and other applications), this can help market players to identify high growth segments in the IVD quality controls market.
• The report also provides information on key players in this market and their growth strategies and recent developments. This can help the company to assess the competition at global and regional levels in a better manner.
• Key insights and market sizing for the different end users of the IVD quality controls market namely, hospitals, laboratories, research & academic institutes, and other end users.
• Country-wise market size and forecast for all the subsegments. Thus, not only the high growth product & service, manufacturer type, application, and end user areas; the market size numbers provided in the report will also enable market players to identify key geographic markets, and thereby strategize global marketing efforts in order to achieve sustainable revenue growth in the coming years.
• It provides key insights on market dynamics, such as drivers, restraints, opportunities, and challenges for this market.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping greater market shares.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the IVD quality controls market. The report analyzes the market by product and service, application, end user, and manufacturer type across all regions
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the IVD quality controls market
• Market Development: Comprehensive information on the lucrative emerging markets by product and service, manufacturer type, application, end user, and region
• Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the IVD quality controls market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the IVD quality controls market