during the forecast period. IVD testing plays a significant role in clinical decision-making. The growth of the IVD quality control market is primarily driven by the rising number of accredited clinical laboratories, rising geriatric population, rising demand for external quality assessment programs, increasing adoption of and POC instruments in developed regions and increasing adoption of third-party quality controls.
New York, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In Vitro Diagnostics Quality Control Market, by Source, Technology, Manufacturer, End Users - Global Forecast to 2026" - https://www.reportlinker.com/p05001211/?utm_source=GNW
The rising focus on multi-analyte controls is also expected to offer significant growth opportunities for the market in the coming years. The use of quality control products is, however, not mandatory for all clinical laboratories in many countries. The lack of regulations for these products is expected to adversely affect the market growth
The product & service segment holds the highest share of the total IVD quality control market during the forecast period.
Based on product & service, the IVD quality control market is segmented into quality control products, data management solutions, and quality assurance services.The quality control products segment accounted for the largest share of the IVD quality control market in 2020.
The increasing number of accredited laboratories and mandates for the use of quality controls from regulatory bodies to ensure the accuracy of diagnostic test results are driving the growth of the IVD quality control products market.
Serum based controls drive the growth of the quality control products segment during the forecast period.
Based on type, the IVD quality control products market is segmented into serum/plasma-based controls, whole blood-based controls, urine-based controls, and others. Serum/plasma-based controls are highly preferred by laboratories; this segment accounted for the largest share of the quality control products market in 2020. The greater uptake of serum/plasma-based quality controls among laboratories and the wide application areas of these controls for various IVD tests are driving the market growth
Molecular diagnostics segment accounted for the highest CAGR of the global IVD quality control market
Based on technology, the IVD quality control market is broadly segmented into clinical chemistry, immunochemistry, hematology, coagulation & hemostasis, microbiology, molecular diagnostics, and other technologies.The molecular diagnostics segment has the highest CAGR for the forecast period.
With the increased non-communicable disease burden, molecular diagnostic tests have been used in the field of oncology widely. Technological advancement in the field of molecular diagnostics is another driver for the growth of this industry.
Third-party controls accounted for the highest share for the IVD quality control market
Based on manufacturer, the IVD quality control market is segmented into third-party controls and OEM controls. The third-party controls segment accounted for the largest share of the global IVD quality control market in 2020. The large share of this segment can be attributed to the increasing use of third-party quality controls across the globe to verify the accuracy and reliability of tests
Based on end users, hospitals accounted for the highest share of the global IVD quality control market during the forecast period.
The key end users of IVD quality controls studied in this report include hospitals, clinical laboratories, research & academic institutes, and other end users. The hospitals segment accounted for the largest share of the IVD quality control market in 2020, owing to the large volume of diagnostic tests carried out in hospitals.
North America is expected to account for the highest share for players operating in the global IVD quality control market
Geographically, the global IVD quality control market studied in this report is divided into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.In 2020, North America accounted for the largest share of the global IVD quality control market, followed by Europe.
The APAC region has the highest CAGR of the global IVD quality control market.The Asia Pacific is considered the most lucrative market for IVD quality controls, owing to the region’s large patient population and rising healthcare needs.
Market players are focusing on improving laboratory test quality in emerging APAC countries by working with local government bodies, agencies, and academic societies to offer external QC for standardizing laboratory testing procedures and ensure accuracy.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10%
• By Designation – C-level–30%, Director-level–50%, Others–20%
• By Region – North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East and Africa–5%
Key players in the IVD quality control Market
Some of the key players in the market include Bio-Rad Laboratories, Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific, Inc. (US), LGC Limited (UK), and Abbott Laboratories (US). Other prominent payers in the market include Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Fortress Diagnostics (UK), SERO AS (US), Sysmex Corporation (Japan), Ortho-Clinical Diagnostics (US), Helena Laboratories Corporation (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), Seegene Inc. (South Korea), ZeptoMetrix Corporation (US), Qnostics (UK), Bio-Techne Corporation (US), Microbiologics (US), Microbix Biosystems (Canada), Streck, Inc. (US), Alpha-Tec Systems (US), Maine Molecular Quality Controls, Inc. (US), and Grifols, S.A. (Spain). These players aim to secure higher market shares through strategies such as product launches, expansions, agreements, and acquisitions.
The report analyzes the IVD quality control market and aims at estimating the market size and future growth potential of this market based on various segments such as product, technology, manufacturer type, end user, and region.The report also includes a product portfolio matrix of various IVD quality control available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
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 more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global IVD quality control market. The report analyzes this market by product, technology, manufacturer type, end user, and region.
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global IVD quality control market
• Market Development: Comprehensive information on the lucrative emerging markets by product, technology, manufacturer type, end user, and region.
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global IVD quality control market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global IVD quality control market.
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