In Vitro Diagnostic (IVD) Reagents Market by Type (Antibodies, Oligonucleotide, Nucleic Acid Probe), Technology (Immunoassay, Hematology, Microbiology), Use (Research, Analyte Specific Reagent), End User (IVD Manufacturer, Clinical Laboratory) – Global Forecast to 2027
The IVD reagents market is expected to grow at a CAGR of 7% from 2020 to 2027 to reach $77.6 billion by 2027. Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, challenges, and opportunities. The growth in the IVD reagents market is mainly attributed to the factors such as increasing global prevalence of acute and chronic infectious diseases coupled with rising geriatric population, increasing adoption of flow cytometry techniques in research and academia, increase in funding for research activities, and rising proteomics and genomics research studies. Moreover, the growing demand for protein therapeutics and personalized medicines and emerging economies offer significant growth opportunities for the players operating in this market.
The global IVD reagents market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027- by type (oligonucleotide, antibodies, nucleic acid probe), technology (immunoassay, hematology, microbiology), use (research, analyte specific reagent), end user (IVD manufacturer, clinical laboratory), and geography. The study also evaluates industry competitors and analyzes the market at regional level.
Based on technology, the immunoassay/immunochemistry segment is estimated to dominate the overall IVD reagents market in 2020. The large share of this segment is mainly attributed to the increasing use of immunoassays in infectious disease testing, development of novel tests, and rising demand for immunoassay-based tests. Further, the outbreak of coronavirus (COVID-19) disease since December 2019 is expected to accelerate the growth of this segment owing to the national emergency declared and requirement of various reagents for the kits and assay preparation.
Based on type, the antibodies segment is estimated to hold the largest share of the overall IVD reagents market in 2020. However, the oligonucleotides segment is expected to grow at the fastest CAGR during the forecast period. The fast growth of this segment is mainly attributed to the factors such as advancements in the field of genomics research, growing adoption of custom oligonucleotides, and rising strategic developments such as agreements and collaborations to expand oligonucleotides market.
Based on end user, the IVD manufacturers segment is estimated to command the largest share of the overall IVD reagents market in 2020. The factors such as rising number of research activities for the development of innovative IVDs, growing public and private funds, and rising demand for advanced disease diagnostics are expected to drive the growth of the IVD reagents market for IVD manufacturing during the forecast period. Moreover, the recent outbreak of COVID-19 is also expected to support the growth of the IVD reagents market for this segment. However, the clinical laboratories segment is expected to register the highest growth during the forecast period, due to the rising number of accredited clinical laboratories; growing collaborations, partnerships, and other strategies undertaken by the key players; and outbreak of COVID-19.
An in-depth analysis of the geographic scenario of the IVD reagents market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). North America is estimated to dominate the overall IVD reagents market in 2020, followed by Europe and Asia Pacific. The factors such as the growing healthcare sector, increasing need to treat various infectious diseases in early stage, increasing healthcare expenditure, and growing investments in personalized medicine and development of novel advanced technologies for diagnosis are supporting the largest share of North America in the IVD reagents market.
The key players operating in the overall IVD reagents market are Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), LGC Biosearch Technologies (U.K.), BioLegend, Inc. (U.S.), InBios International, Inc. (U.S.), LakePharma, Inc. (U.S.), Bioline (U.K.), Abcam plc (U.K.), The Binding Site Group Ltd.(U.K.), SDIX, LLC (U.S.), DIACLONE SAS (France), Bio-Techne Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Hologic Inc. (U.S.), Bio-Synthesis Inc. (U.S.), RayBiotech, Inc. (U.S.), and Sino Biological Inc. (China), among others.
Scope of the Report:
IVD Reagents Market, by Technology
Enzyme-Linked Immunosorbent Assays (Elisa)
(Other Technologies comprises of hybridization and loop-mediated isothermal amplification among others)
IVD Reagents Market, by Type
Antibodies Market, By Type
Antibodies Market, By Target
Nucleic Acid Probes
Purified Proteins or Peptides
(Other reagents include Blocking Agents, Detergents, Surfactants, Wetting Agents, Buffers, Stabilizers, Purified Water, Dyes, Standards & Controls, Enzymes, Cell Culture Reagents, and Anti-coagulants)
IVD Reagents Market, by Use
Research Use Only
Analyte Specific Reagents
IVD Reagents Market, by End User
Academic and Research Institutes
IVD Reagents Market, by Geography
Rest of Europe (RoE)
Rest of Asia Pacific (RoAPAC)
Middle East & Africa
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