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(Health-NewsWire.Net, October 04, 2019 ) Some of the factors driving the growth of the In Vitro Diagnostics Quality Controls Market are increasing number of accredited clinical laboratories, rising demand for external quality assurance support, and growing adoption of third-party quality controls.
Global market size -
According to the new market research report In Vitro Diagnostics Quality Controls Market USD 1.04 billion by 2022, at a CAGR of 3.5% during the forecast period.
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In this report, the market is segmented by product and service, application, end user, manufacturer type, and region.
• On the basis of application, the In Vitro Diagnostics Quality Controls Market is broadly segmented into clinical chemistry, immunochemistry, molecular diagnostics, hematology, microbiology, coagulation/hemostasis, and other applications. Among these, the immunochemistry segment accounted for the largest share of the IVD quality control applications market in 2016. This large share of the immunoassay segment can be attributed to their increased use in diagnosis over conventional methods, as they ensure precise and accurate test results and help minimize laboratory errors.
However, the molecular diagnostics segment is projected to grow at the highest CAGR during the forecast period. The rising prevalence of infectious diseases along with increase in IVD tests to diagnose these diseases will ultimately stimulate the need for quality controls to validate test results is expected to propel the growth of this segment.
• Based on the manufacturer type, the In Vitro Diagnostics Quality Controls Market is majorly segmented into third-party control manufacturers and OEMs. Among these, the third-party control manufacturers segment accounted for the largest share of the global market in 2016. The large share of this segment is attributed to the increasing use of third-party quality controls across the globe to verify patient test results.
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Geographic Overview -
In 2016, North America commanded the largest share of the In Vitro Diagnostics Quality Controls Market, followed by Europe. Although North America will continue to be the largest market for IVD quality controls, the Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period.
Asian countries, particularly China and India, are expected to offer significant growth opportunities for independent manufacturers of quality controls as well as IVD instrument and reagent manufacturers.
The high growth in these markets can be attributed to the significant demand for high quality, accurate diagnostic tests from the large patient population. Also, with developed economies reaching saturation, manufacturers and suppliers are expected to focus on the Asian market.
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MarketsandMarkets™
Mr. Shelly Singh
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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