In Vitro Diagnostics Quality Control Product Market & Development by 2022
Posted by pooja on June 4th, 2019
In Vitro Diagnostics (IVD) Quality Control Products Market Report, published by Allied Market Research, forecasts that the global market was valued at 3 million in 2015, and is expected to reach ,052 million by 2022, registering a CAGR of 3.5% during the forecast period 2016 - 2022. The quality controls products segment dominated the market with fourth-fifths share in 2015. Immunochemistry and clinical chemistry application segments together captured around half of the market share in 2015.
The IVD quality control products market is driven by factors such as increasing number of accredited laboratories, stringent mandates on the use of third party IVD quality control products, and increase in the number of IVD test volumes across the globe. Increase in adoption of multianalyte controls and focus of key players on expanding their market presence in emerging economies are anticipated to create new growth opportunities for market players. However, poor reimbursement scenario and lack of regulations regarding the use of controls in emerging economies are expected to hamper the market growth during the analysis period.
In 2015, the quality controls segment accounted for the largest market share in the global market due to the upsurge in demand for third-party quality controls. The serum/plasma based controls accounted for the largest share in the quality controls market in 2015, and is estimated to grow at the fastest CAGR of 4.1% from 2016 to 2022, owing to the increase in demand for products with long self-life and high stability. The immunochemistry application segment dominated the global market by application in 2015, owing to the rise in demand for high-sensitivity immunochemistry tests and increase in availability of multianalyte controls to test the accuracy of large immunoassay test menus.
Key findings of In Vitro Diagnostics (IVD) Quality Control Product Market:
North America was the highest revenue contributor to the global market. Asia-Pacific is projected to be the fastest-growing region by 2022, registering a CAGR of 4.9% during the forecast period, due to increase in acceptance of third party IVD control products and spiraling number of accredited laboratories in the region.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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About the Authorpooja
Joined: May 29th, 2019
Articles Posted: 84
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