The global IVD quality control market is projected to reach USD 1.6 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 5.4%
during the forecast period. The competitive landscape includes the analysis of the key growth strategies adopted by major players between January 2019 and January 2023. Players in the global IVD Quality Control market have employed various strategies to expand their global footprint and increase their market shares such as agreements, divestitures, expansions, and acquisitions.
New York, March 02, 2023 (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 2027" - https://www.reportlinker.com/p05001211/?utm_source=GNW
The product & service segment holds the highest share of the total IVD quality control market during the forecast period.
The quality control products segment accounted for the largest share of the IVD quality control market in 2021. The increasing number of accredited laboratories to ensure the accuracy of diagnostic test results are driving the growth of the IVD quality control products market.
Serum/plasma-based controls segment accounted for the highest share for the Product and Services in total IVD quality control market during the forecast period.
Serum/plasma-based IVD quality controls are highly preferred by laboratories, as they are more stable after manipulation, such as freezing, storage, and lyophilization.; this segment accounted for the largest share of the quality control products market in 2021. The increasing number of IVD tests and the rising need for accuracy, reliability, and reproducibility of test results are the key factors driving the growth of the IVD quality control products market
Third-party controls dominated the Manufacturer segmented of IVD quality control market
Based on manufacturer, the IVD quality control market is segmented into OEM controls and third-party controls.The third-party controls segment accounted for the largest share of the manufacturer segment in the global IVD quality control market in 2021.
The independent controls segment is expected to grow at the highest CAGR in the third-party controls market during the forecast period. The growth of this segment is attributed to the fact that regulatory bodies recommend independent controls.
During the forecast period, hospitals accounted for the highest share in the end users segment of the global IVD quality control market.
The end users of IVD quality controls included in this report are research & academic institutes, hospitals, clinical laboratories, and other end users (blood banks, local public health laboratories, home health agencies, and nursing homes).The hospitals segment accounted for the largest share of the IVD quality control market in 2021, and Clinical laboratories are estimated to be the fastest-growing end-user segment in this market.
The increasing burden of infectious diseases across the globe and the growing volume of genetic testing are the key factors driving the growth of this end-user segment.
North America is will account for the highest share in the global IVD quality control market
By Region, the global IVD quality control market accounted in this report is divided into five major regions—North America, Europe, Latin America, the Asia Pacific, and the Middle East & Africa.In 2021, North America accounted for the largest share of the global IVD quality control market, followed by Europe.
In North America, US accounted for the largest share folowed by Canada. The APAC region has the highest CAGR of the global IVD quality control market.
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.
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%
The market study covers the endoscopy equipment market across various segments.It aims at estimating the market size and the growth potential of this market across different segments by product, by application, by end user, and by region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the IVD Quality Control market and its segments.This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies.
The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.
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