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What is the current market size of the ivd raw materials industry, and what growth rate is it expected to achieve?
The IVD raw materials market size has grown rapidly in recent years. It will grow from $25.13 billion in 2024 to $27.73 billion in 2025 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to the growing prevalence of infectious and chronic diseases, rising demand for laboratory-based diagnostic testing, increasing use of enzyme- and protein-based reagents in diagnostics, expansion of clinical diagnostic laboratories, and growing awareness and early disease detection efforts.
The IVD raw materials market size is expected to see rapid growth in the next few years. It will grow to $40.74 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to rising demand for high-sensitivity and rapid diagnostic solutions, expanding application of molecular diagnostics in oncology, a growing geriatric population and related disease burden, increasing demand for companion diagnostics, and rising investments by biopharmaceutical companies. Major trends in the forecast period include a shift towards recombinant and synthetic raw materials, integration of multiplex assays requiring specialized materials, adoption of lyophilized and ready-to-use reagent formats, and development of raw materials tailored for microfluidic and lab-on-a-chip systems.
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What are the major drivers contributing to the growth of the ivd raw materials market?
The increasing prevalence of infectious diseases is expected to propel the growth of the IVD raw materials market going forward. Infectious diseases are illnesses caused by harmful microorganisms that can spread from one person or organism to another. The increasing prevalence of infectious diseases is due to rapid urbanization, which contributes to the spread of infectious diseases by increasing population density and straining sanitation and healthcare infrastructure. IVD raw materials play a crucial role in combating infectious diseases by enabling the development of accurate diagnostic tests for early detection and effective disease management. For instance, in May 2023, according to a report published by the Statens Serum Institut, a Denmark-based medical laboratory, in 2021, there were 146 cases of chronic hepatitis C reported, with 72% (105 cases) involving men, and in 2022, the number increased to 196 cases, with 67% (131 cases) involving men. Therefore, the increasing prevalence of infectious diseases is driving the growth of the IVD raw materials market.
What are the major market segments driving the growth of the ivd raw materials industry?
The IVD raw materials market covered in this report is segmented –
1) By Product: Antibodies, Antigens, Enzymes, Proteins, Biological Buffers, Other Products
2) By Technology: Molecular Diagnostics, Clinical Chemistry, Immunochemistry, Other Technologies
3) By End User: Pharmaceutical And Biotechnology Companies, Diagnostic Laboratories, Contract Research Organizations, Other End Users
Subsegments:
1) By Antibodies: Monoclonal Antibodies, Polyclonal Antibodies, Recombinant Antibodies
2) By Antigens: Recombinant Antigens, Native Antigens, Synthetic Antigens
3) By Enzymes: Polymerases, Reverse Transcriptases, Oxidases
4) By Proteins: Carrier Proteins, Blocking Proteins, Recombinant Proteins
5) By Biological Buffers: Tris Buffers, HEPES Buffers, Phosphate Buffers
6) By Other Products: Stabilizers, Surfactants, Preservatives
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What are the key trends shaping the ivd raw materials market in the forecast period?
Major companies operating in the IVD raw materials market are focusing on developing advanced solutions, such as IVD manufacturing facilities, to strengthen regional diagnostic capabilities and support healthcare self-sufficiency. An IVD (in vitro diagnostic) manufacturing facility is a specialized facility where devices and equipment used for diagnosing diseases and conditions through laboratory testing of samples outside the human body are designed, produced, and tested for quality and compliance. For instance, in January 2024, Colexa Biosensor Limited, a Nigeria-based health technology company, partnered with Codix Pharma Limited, a Nigeria-based pharmaceutical manufacturing company, to launch Sub-Saharan Africa’s first in vitro diagnostics (IVD) manufacturing facility in Lagos. This facility, which produces the onpoint blood glucose meter and strips, is a significant milestone in Africa’s healthcare industry, designed to address the rising diabetes prevalence and improve diagnostic access. The facility can produce 3.6 million packs annually, with the potential for expansion to 10.8 million packs, focusing initially on meeting the demands of West Africa.
Who are the key market players contributing to the growth of the ivd raw materials industry?
Major companies operating in the IVD raw materials market are F. Hoffmann-La Roche, Merck KGaA, Thermo Fisher Scientific, Abbott Laboratories, Siemens Healthineers, Becton Dickinson and Company (BD), Agilent Technologies, Sysmex Corporation, Waters Corporation, Bio-Rad Laboratories Inc., LGC Limited, Neogen Corporation, MP Biomedicals, CUSABIO Technology, Fujirebio, Fapon Biotech, ABclonal Technology, Creative Diagnostics, AIVD Biotech Inc., OPERON, Beijing Diagreat Biotechnology Co. Ltd., Biosynth, Aalto Bio Reagents, Angstrom Biotech, Eximio Biotech, Glentham Life Sciences Limited, OYC Americas Inc., NOVA Biologics Inc.
Which regions are leading the growth of the ivd raw materials market globally?
North America was the largest region in the IVD raw materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IVD raw materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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