IVD Quality Control Market Top Growth Factors and Business Intelligence
Market growth influenced due to following factors-
- Increasing number of accredited clinical laboratories.
- Rising demand for external quality assurance support.
- Growing adoption of third-party quality controls.
Global market size-
According to research report the global IVD Quality Control Market is projected to reach $1,158 million by 2025, at a CAGR of 3.8% during the forecast period.
Key Market Players-
The prominent players in this In Vitro Diagnostics Quality Control Market are Bio-Rad Laboratories Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific Inc. (US), Technopath Clinical Diagnostics (Ireland), Bio-Techne Corporation (US), Fortress Diagnostics (UK), SeraCare Life Sciences Inc. (US), SERO AS (Norway), Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), and Abbott Laboratories Inc. (US).
Bio-Rad Laboratories Inc. (US) was the leading player in the IVD Quality Control Market and accounted for the largest share in 2018. The company is a leading provider of clinical diagnostic systems, analytical devices, and instruments. The company has a robust portfolio of quality control products, data management solutions and quality assurance services for hospital laboratories, reference laboratories, transfusion laboratories, and physician office laboratories.
Key players are focusing on increasing their presence in this growing market through both organic as well as inorganic growth strategies, such as product launches, agreements, partnerships, collaborations, and expansions. Due to the intense competition in the In Vitro Diagnostics Quality Control Market, various market players are increasingly focusing on expanding their geographic presence in high-growth emerging markets.
Top Market Segment-
Based on applications, the IVD Quality Control Market is segmented into clinical chemistry, immunochemistry, hematology, coagulation & hemostasis, microbiology, molecular diagnostics, and other applications (ESR, urine chemistry, immunology, cardiac assessment, and blood morphology).
The molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period.
"This growth can be attributed to the rising prevalence of infectious diseases, cancer, and various genetic disorders; the growing demand for blood screening; and the increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing"
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Geographic Overview -
The North America is expected to account for the largest share of the global In Vitro Diagnostics Quality Control Market in 2020, followed by Europe. The large share of the North America can be attributed to the highly developed healthcare system in the US and Canada, and the presence of a large number of leading IVD quality control vendors & national clinical laboratories & hospitals in this region.