(MENAFN- GlobeNewsWire - Nasdaq) The Global IVD Raw Materials market Size was Valued at USD 14560 Million in 2023 and the Worldwide IVD Raw Materials Market Size is Expected to Reach USD 49860 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Aalto Bio Reagents, Fapon Biotech, Fujirebio, Hoffmann-La Roche, Thermo Fisher Scientific, Merck KgaA, ABclonal Technology, Joinstar Biomedical technology Co. Ltd., OPERON, AIVD Biotech Inc., SR Bioera, SolGent Co., Ltd., NOVA Biologics, Inc., and Other Key Players
New York, United States , Aug. 08, 2024 (GLOBE NEWSWIRE) -- The Global IVD Raw Materials Market Size is Expected to Grow from USD 14560 Million in 2023 to USD 49860 Million by 2033, at a CAGR of 13.10% during the forecast period 2023-2033.
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In vitro diagnostics (IVD) raw materials refer to the essential substances and components used in the production of diagnostic tests and assays performed outside of a living organism, typically in a laboratory setting. These materials are vital for the development and production of IVD products, which are used to diagnose diseases, disorders, or infections by analyzing samples like blood, urine, or tissue. The in vitro diagnostics (IVD) raw materials market is driven by many important reasons, including rising demand for healthcare services and early illness diagnosis, as well as technological developments in diagnostic technologies, which increase the demand for high-quality raw materials. The increasing frequency of chronic and infectious diseases, coupled with an aging population, further drives the market. However, the in vitro diagnostics (IVD) raw materials market is hampered by several constraints, including high costs for specialized components and tight regulatory regulations that can cause market entrance delays.
Browse key industry insights spread across 180 pages with 110 Market data tables and figures & charts from the report on the " Global IVD Raw Materials Market Siz , Share, and COVID-19 Impact Analysis, By Product (Antibodies & Antigens, Enzymes, Proteins, Biological Buffers, and Others), By Technology (Clinical Chemistry, Immunochemistry, Molecular diagnostics, and Others), By End-User (Pharma, Biotech & MedTech Companies, Diagnostic Laboratories, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The enzymes segment is predicted to hold the largest market share through the forecast period.
Based on the product, the IVD raw materials market is classified into antibodies & antigens, enzymes, proteins, biological buffers, and others. Among these, the enzymes segment is predicted to hold the largest market share through the forecast period. Enzymes play an important part in diagnostic assays, such as illness detection and biological sample analysis. Enzymes are important in different diagnostic processes because of their high specificity and efficacy in catalyzing biological reactions, making them an important component in the generation of IVD products.
The molecular diagnostics segment is anticipated to hold the highest market share during the projected timeframe.
Based on the technology, the IVD raw materials market is divided into clinical chemistry, immunochemistry, molecular diagnostics, and others. Among these, the molecular diagnostics segment is anticipated to hold the highest market share during the projected timeframe. This dominance is being pushed by the increased use of molecular diagnostic tools, which provide great accuracy and precision in detecting genetic and viral disorders. Advances in genomics and the increasing frequency of chronic and infectious diseases are driving up demand for raw materials used in molecular diagnostics, making this segment the dominating force in the IVD raw materials market.
The pharma, biotech & medtech companies segment is anticipated to hold the greatest share of the IVD raw materials market during the projected timeframe.
Based on the end-user, the IVD raw materials market is categorized into pharma, biotech & medtech companies, diagnostic laboratories, and others. Among these, the biopharma segment is anticipated to hold the greatest share of the IVD raw materials market during the projected timeframe. This dominance is due to the massive investment in IVD raw materials that these businesses make in developing and producing diagnostic technologies, which drives the need for high-quality raw materials.
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North America is estimated to hold the largest share of the IVD raw materials market over the forecast period .
North America is estimated to hold the largest share of the IVD raw materials market over the forecast period. This region is distinguished by its excellent healthcare infrastructure, extensive investment in biomedical research, and severe regulatory requirements. The region's well-developed healthcare system and significant demand for IVD products increase the demand for specialized raw materials.
Asia Pacific is predicted to have the highest CAGR growth in the IVD raw materials market over the forecast period. The Asia Pacific region is growing at the quickest rate, because of rapidly improving healthcare infrastructure, more urbanization, and rising healthcare spending. The region's enormous population, combined with greater awareness and health initiatives, is increasing the demand for diagnostic testing and the resources required to perform it.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the IVD raw materials market include Aalto Bio Reagents, Fapon Biotech, Fujirebio, Hoffmann-La Roche, Thermo Fisher Scientific, Merck KgaA, ABclonal Technology, Joinstar Biomedical Technology Co. Ltd., OPERON, AIVD Biotech Inc., SR Bioera, SolGent Co., Ltd., NOVA Biologics, Inc., and Others.
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Recent Developments
In March 2022 , Medix Biochemica introduced a new name to reflect recent acquisitions and its ongoing commitment to the IVD market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the IVD raw materials market based on the below-mentioned segments:
Global IVD Raw Materials Market, By Product
Antibodies & Antigens Enzymes Proteins Biological Buffers Others
Global IVD Raw Materials Market, By Technology
Clinical Chemistry Immunochemistry Molecular diagnostics Others
Global IVD Raw Materials Market, By End-User
Pharma, Biotech & MedTech Companies Diagnostic Laboratories Others
Global IVD Raw Materials Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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