IVD Reagents Market Forecast To 2029: Rising Genetic Testing Adoption Accelerates Market For Oligonucleotide-Based Reagents Worldwide

(MENAFN- GlobeNewsWire - Nasdaq) Shifting Toward High-Efficiency, Automated Analyses: IVD Reagents Propel Precision Medicine Forward

Dublin, 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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• IVD Reagents Market

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