PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425014
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425014
In Vitro Diagnostics Quality Control Market size was valued at USD 1,315 Million in 2022, expanding at a CAGR of 2.5% from 2023 to 2030.
Tests known as in vitro diagnostics (IVDs) are used to identify illnesses, ailments, and infections. The term "in vitro" literally means "in glass," denoting that these tests are usually carried out in test tubes and related apparatus, as opposed to in vivo testing, which are carried out within the body.
In Vitro Diagnostics Quality Control Market- Market Dynamics
Increasing investment in clinical laboratories and supportive regulatory bodies to propel market demand
The primary drivers of the market growth are anticipated to be the growing number of authorized clinical laboratories across the globe and the existence of supportive regulatory authorities. Diagnostic labs are in greater demand because of the rising prevalence of illnesses like diabetes, cardiovascular disease, and infectious disorders. Both public and private laboratories are going through the accreditation process to bring themselves up to industry standards, increase the volume of procedures they perform, and draw in more patients. Medicare and Medicaid Services will pay laboratories that hold a CLIA accreditation.
Additionally, the U.S. FDA and other Global Harmonization Task Force (GHTF) regulatory bodies are promoting the convergence of medical device regulatory systems, which is expected to promote commerce while utilizing regulatory tools to safeguard public health. According to the American Clinical Laboratory Association, over 7.5 billion laboratory tests are conducted in the United States each year, and laboratory testing is the basis for 80% of clinical decisions. The WHO estimates that 537 million persons between the ages of 20 and 79 have diabetes. In 2021, this accounted for 10.5% of the global population in this age bracket. These factors are expected to bolster the market growth.
In Vitro Diagnostics Quality Control Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 2.5% over the forecast period (2023-2030)
Based on Type segmentation, quality control segment was predicted to show maximum market share in the year 2022, owing to development in medical devices.
Based on Application segmentation, immunology segment was the leading segment in 2022, due to high demand for immunochemistry.
Based on End-User segmentation, hospitals segment was the leading segment in 2022, mainly due to increasing reliability in healthcare professionals in hospitality.
On the basis of region, North America was the leading revenue generator in 2022, owing to robust quality control regulation systems.
The Global In Vitro Diagnostics Quality Control Market is segmented on the basis of Type, Application, End-User, and Region.
The market is divided into three categories based on Type: quality control, quality assurance, and data management solutions. The quality control segment dominates the market. The rising application in clinical chemistry, hematology, and microbiology are expected to boost the segment growth.
The market is divided into six categories based on Application: immunoassay, hematology, clinical chemistry, coagulation, microbiology, and others. The immunoassay segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand for immunology assessment is boosting the segment growth.
The market is divided into three categories based on End-User: hospitals, clinical laboratories, and others. The hospitals segment dominates the market and is likely to maintain its dominance during the forecast period. The increased adoption of IVD solution at hospitals is mainly boosting the market growth.
In Vitro Diagnostics Quality Control Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period because of the U.S. FDA's presence, the abundance of qualified diagnostic labs, and robust quality control and regulatory frameworks. The IVD quality control market in North America is governed by the GHTF and the U.S. FDA. From manufacture to premarketing and post-marketing surveillance, it controls quality.
In Vitro Diagnostics Quality Control Market is moderately fragmented in nature. The companies in the industry are concentrating on technology advancements, business expansions, and the creation of novel medical equipment. Moreover, some of the other strategic initiatives carried out by important organizations include mergers and acquisitions for the purpose of developing fresh products.
In May 2023, ZeptoMetrix introduced a new line of quality control products, PROtrol, designed for antigen-based diagnostics methods, such as the lateral flow immunoassay for infectious diseases.