(MENAFN- GlobeNewsWire - Nasdaq) Shifting Toward High-Efficiency, Automated Analyses: IVD Reagents Propel Precision medicine ForwardDublin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- The "IVD Reagents market by Type (Antibodies, Nucleic Acid Probes), technology (Hematology), Application (Genetic Testing, Autoimmune Disease), Test Type (Laboratory Test, Point-of-Care Tests), End User (Hospitals & Clinics) & Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global IVD reagents market is valued at an estimated USD 87.41 billion in 2029 and is projected to reach USD 60.45 billion by 2024, at a CAGR of 7.7% during the forecast period. The increasing adoption of IVD technologies has led to a growing need of IVD reagents. The demand for IVD reagents is therefore expected to increase as new diagnostic technologies are getting FDA, EMA approvals from regulatory bodies.
The oligonucleotide segment is projected to witness the highest growth rate in the IVD reagents market, by type, during the forecast period.
Based on type, the IVD reagents market is segmented into antibodies, antigen, purified proteins, and peptides, oligonucleotides, nucleic acid probes, and other IVD reagents. The growing adoption of PCR-based tests in diagnostics has boosted the demand for oligonucleotide in the IVD reagents market. Oligonucleotides have wide range of applications in infectious diseases and genetic testing.
The infectious disease segment to witness the highest share in the IVD reagents market, in 2023, by application
Based on application, the IVD reagents market is segmented into infectious diseases, oncological applications, endocrinological applications, cardiological applications, blood screening, genetic testing, autoimmune diseases, allergy diagnostics, drug monitoring & testing and other applications. The infectious diseases segment experience highest market share of IVD reagents market due to rising number of R&D activities and product approvals for infectious disease applications.
The Asia Pacific region is projected to witness highest growth rate in the IVD reagents market during the forecast period
The global IVD reagents market is segmented into six regions - North America, Europe, Asia Pacific, the Middle East & Africa, Latin America, and the GCC Countries. Over the span of the forecast period, the IVD reagents market is expected to grow at the fastest rate in the Asia Pacific region. Over the projected period, the Asia Pacific market is expected to develop at the greatest rate due to factors such increasing healthcare spending and an extensive population base.
Study Coverage:
In this report, the IVD reagents market has been categorized based on type (antibodies, antigen, purified proteins, and peptides, oligonucleotides, nucleic acid probes, and other IVD reagents), technology (immunoassays, clinical chemistry, molecular diagnostics, hematology, microbiology, coagulation & hemostasis, urinalysis, chromatography & mass spectrometry, immunohistochemistry), application (infectious diseases, oncological applications, endocrinological application, cardiology application, blood screening, genetic testing, autoimmune diseases, allergy diagnostics, drug monitoring & testing, and other applications), test type (laboratory test, and point-of-care tests), end user (hospitals & clinics, clinical laboratories, blood banks, home care settings, pharmaceutical & biotechnology companies, academic institutes, and other end users) and region.
Information regarding the main drivers, restraints, opportunities, and challenges influencing the IVD reagents market's expansion is includes detail in this study. An intensive study of the key players in the IVD reagents market has been done to provide insights into their business profile, service offered, note worthy strategies, acquisitions and expansions, and other deals made pertaining to the market. This study examines the fragmented landscape of emerging IVD reagents startups.
The report provides insights on the following:
Analysis of key drivers: (growing geriatric population, gradual shift towards point-of-care testing and automated analyzers, rise in early diagnosis and personalized medicine, increasing adoption of third-party quality controls, growing biotechnology and biopharmaceutical industries, increasing funding for R&D activities), restraints (unfavorable reimbursement scenario, stringent regulatory requirements), opportunities (increasing development of biomarkers, rising significance of companion diagnostics, market growth opportunities in emerging economies, and growing trend of digitalization), and challenges (operational challenges in clinical process) influencing the growth of the in IVD reagents market. Market Development: Comprehensive information about lucrative markets - the report analyses the IVD reagents market across varied regions. Market Diversification: Exhaustive information about untapped geographies, and investments in the IVD reagents market Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like include F. Hoffmann-La Roche Ltd (Switzerland), Abbott (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), and Thermo Fisher Scientific Inc. (US) are among others, in the IVD reagents market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 424 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $60.45 Billion |
| Forecasted Market Value (USD) by 2029 | $87.41 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
IVD Reagents Market Overview Asia-Pacific: IVD Reagents Market, by Country North America: IVD Reagents Market, by Test Type and Country IVD Reagents Market, by Country
Market Dynamics
Drivers
Growing Geriatric Population Gradual Shift Toward Point-Of-Care Testing and Automated Analyzers Rise in Early Diagnosis and Personalized Medicine Increasing Adoption of Third-Party Quality Controls Growing Biotechnology and Biopharmaceutical Industries Increasing Funding for R&D Activities
Restraints
Unfavorable Reimbursement Scenario Stringent Regulatory Requirements
Opportunities
Increasing Development of Biomarkers Rising Significance of Companion Diagnostics Market Growth Opportunities in Emerging Economies Growing Trend of Digitalization
Challenges
Operational Challenges in Clinical Process
IVD Reagents Market, by Type
Antibodies Monoclonal Antibodies - Increasing Incidence of Cancer to Stimulate Growth Polyclonal Antibodies -Rising Prevalence of Infectious Diseases and Autoimmune Disorders to Support Growth
Antigens, Purified Proteins, and Peptides Increasing Focus on Advanced Precision Medicine to Encourage Growth
Oligonucleotides Growing Inclination Toward Molecular Diagnostics to Drive Market
Nucleic Acid Probes Need for Early Disease Detection and Monitoring Low-Abundance Biomarkers to Aid Growth
IVD Reagents Market, by Technology
Immunoassays Rising Trend of Automation to Promote Growth
Clinical Chemistry Rising Prevalence of Diabetes to Boost Segment
Molecular Diagnostics Growing Demand for Blood Screening and Point-Of-Care Testing to Fuel Market
Hematology Increasing Focus on Stem Cell Research to Speed Up Growth
Microbiology Rising Prevalence of Microbial Infections to Fuel Market
Coagulation & Hemostasis Growing Use of Anticoagulation Therapy to Propel Market
Urinalysis Rising Prevalence of Kidney Diseases to Support Market Growth
Chromatography & Mass Spectrometry Increasing Applications in Disease Screening, Forensic Analysis, and Drug Therapy to Boost Market
Immunohistochemistry Growing Number of Laboratory Tests for Cancer Diagnosis to Drive Market
IVD Reagents Market, by Application
Infectious Diseases Increasing Product Launches and Approvals to Boost Market
Oncological Applications Growing Emphasis on Early Diagnosis and Quality Treatment to Fuel Market
Endocrinological Applications Rising Prevalence of Diabetes and Thyroid-Related Disorders to Sustain Growth
Cardiological Applications Changing Lifestyles in Developed and Developing Countries to Propel Market
Blood Screening Rising Adoption of Automated Diagnostic Instruments to Facilitate Growth
Genetic Testing Increasing Adoption of Genetic Testing to Diagnose Rare and Fatal Diseases to Sustain Growth
Autoimmune Diseases Growing Advancements in Laboratory Technology, Reagents, and Alternative Assay Methodologies to Drive Market
Allergy Diagnostics Growing Focus on Allergy Therapy and Prevention to Accelerate Growth
Drug Monitoring & Testing Growing Implementation of Drugs-Of-Abuse Testing to Drive Market
IVD Reagents Market, by Test Type
Laboratory Tests Increasing Need for Automation to Expedite Growth
Point-Of-Care Tests Need to Closely Monitor Patient Conditions to Augment Growth
IVD Reagents Market, by End-user
Hospitals & Clinics Increasing Specialty Diagnostic Tests to Accelerate Growth
Clinical Laboratories Large Reference Laboratories Small & Medium-Sized Laboratories
Blood Banks Growing Number of Trauma Cases and Availability of Sophisticated Surgical Procedures to Fuel Market
Home Care Settings Growing Preference for At-Home Testing Kits to Drive Market
Pharmaceutical & Biotechnology Companies Increasing Research & Development Efforts to Contribute to Growth
Academic Institutes Increasing Industry-Academia Collaborations to Favor Growth
Company Profiles
Key Players
Danaher Corporation F. Hoffmann-La Roche Ltd. Abbott Siemens Healthineers Thermo Fisher Scientific Inc. Illumina, Inc. BD Hologic, Inc. Bio-Rad Laboratories, Inc. Sysmex Corporation Qiagen Agilent Technologies, Inc. Revvity Diasorin Grifols Werfen Quidelortho Corporation Chembio Diagnostics, Inc. Merck
Other Players
Medical & Biological Laboratories Co. Ltd. Canvax Prestige Diagnostics Adaltis S.R.L. Randox Laboratories Ltd.
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