In Vitro Diagnostics (IVD) Quality Control Market Impacts, CAGR, Growth Factors and Forecast From 2021 to 2031

In Vitro Diagnostics (IVD), a rapidly growing segment of global healthcare is an essential part. IVD can be used to diagnose diseases and monitor the health of an individual to treat, prevent, or cure them. In-vitro diagnostics can be used to test samples, such as blood and urine, taken from the body.

In vitro testing can be done in hospitals, laboratories, and other healthcare facilities. You can perform tests with a variety of instruments, from simple handheld instruments to sophisticated laboratory instruments. The role of IVD testing is crucial in clinical decision-making. The market is expected to grow in value due to the growing number of quality control and accreditation laboratories.

Detail Segmentation

The market for IVD quality control in the global market is segmented based on – type, end-users, and region. Below is a detailed description of each segment:

Based on Type

Serum/Plasma-Based Controls, Whole Blood-Based Controls, Urine-Based Controls.

Based on End-User

Hospitals, Clinical Laboratories, Academic & Research Institutes, Other End-users

Based on Key Players

Bio-Rad Laboratories Inc., Randox Laboratories Ltd., Thermo Fisher Scientific Inc., LGC Limited, Abbott Laboratories, Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Fortress Diagnostics, SERO AS, Sysmex Corporation, Ortho-Clinical Diagnostics, among others.

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Based on the Region:

North America

Europe

Asia-Pacific

South America

Middle East and Africa

Market Dynamics

Due to the increasing incidence of various diseases, there has been a steady increase in the number of laboratory tests being performed around the world. This demand has led to a significant rise in the number of both public and private sector laboratories. Due to the COVID-19 pandemic, there has been a sudden rise in demand for diagnostic testing since December 2019. Numerous government agencies have established new laboratories in order to expand their laboratory testing capabilities. These factors will likely boost the global IVD quality market’s revenue growth over the forecast period.

It is a significant investment to incorporate quality control procedures in a clinical lab. Laboratory staff must be trained to oversee their quality control system. This is expected to limit the potential for economic growth in this sector. The ongoing technological advances have resulted in the development of a new line of multi-analyte/multi-instrument controls. These controls will likely increase revenue for the global IVD quality market.

Consistent growth in GDP in both developing and developed countries has helped to evolve the healthcare sector. Due to the above mentioned growth in GDP, especially in emerging countries, market players have shown a keen interest in these regions.

Competitive Landscape

There are several key players in this market: Bio-Rad Laboratories Incorporated, Randox Laboratories Ltd. and Thermo Fischer Scientific Inc. LGC Limited, Abbott Laboratories Roche Diagnostics Siemens Healthineers Danaher Corporation Danaher Corporation Fortress Diagnostics SERO AS Sysmex Corporation and Ortho-Clinical Diagnostics. The companies mentioned above develop new products/services and adopt expansion strategies. They also engage in partnerships, collaborations, mergers and acquisitions to increase their market share in the global IVD quality assurance market.