Meticulous Research®: IVD Quality Control Market to Reach $2.28 Billion by 2031

“Meticulous Research®: IVD Quality Control Market to Reach $2.28 Billion by 2031”

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Meticulous Research® has released its latest publication, projecting the In Vitro Diagnostics (IVD) quality control market to achieve a valuation of $2.28 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.

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1.1.1.1       Market Growth Drivers

The expansion of the IVD quality control market is primarily fueled by several factors:

• Rising Prevalence of Chronic Diseases: An increasing number of chronic disease cases necessitates accurate diagnostic testing, boosting the demand for quality controls.
• Aging Population: As the global geriatric population grows, so does the need for reliable diagnostic procedures.
• Increasing Clinical Laboratories: The proliferation of clinical laboratories worldwide demands robust quality control measures.
• Point-of-Care (POC) and Rapid Diagnostics: Growing adoption of POC testing and rapid diagnostic methods enhances the requirement for quality control products.
• Third-Party Quality Controls: There is a rising demand for third-party quality controls and comprehensive quality assessment reports.

However, stringent technical and regulatory requirements pose challenges to market growth. Despite these barriers, opportunities abound with the increasing demand for multi-analyte and multi-instrument controls.

1.1.1.2       Key Market Players

Leading companies in the IVD quality control market include:

• Siemens Healthineers AG (Germany)
• Bio-Rad Laboratories, Inc. (U.S.)
• Danaher Corporation (U.S.)
• LGC Group (U.K.)
• Thermo Fisher Scientific Inc. (U.S.)
• SERO AS (Norway)
• Randox Laboratories Ltd. (U.K.)
• QuidelOrtho Corporation (U.S.)
• Streck LLC (U.S.)
• Microbiologics, Inc. (U.S.)
• Bio-Techne Corporation (U.S.)

1.1.1.3       Market Segmentation

The IVD quality control market is segmented into several categories:

·         By Offering:

• • Quality Control Products:

• • • By Type: Serum/Plasma-based Controls, Whole Blood-based Controls, Urine-based Controls, Other Controls.
    • By Function: Independent Controls, Instrument-specific Controls.

• • Quality Assessment Services
  • Data Management Solutions

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·         By Technology:

• • Immunoassay/Immunochemistry
  • Biochemistry/Clinical Chemistry
  • Molecular Diagnostics
  • Hematology
  • Coagulation/Hemostasis
  • Microbiology
  • Other Technologies

·         By Application:

• • Infectious Diseases
  • Oncology
  • Cardiology
  • Autoimmune Disorders
  • Neurology
  • Other Applications

·         By End User:

• • Hospitals & Clinics
  • Diagnostic Laboratories
  • Academic Institutes & Research Laboratories
  • Other End Users

·         By Geography:

• • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

1.1.1.4       Segment Highlights

• Quality Control Products: Expected to dominate in 2024, particularly serum/plasma-based controls, due to their precision in diagnostic testing.
• Immunoassay/Immunochemistry Technology: Anticipated to hold the largest market share in 2024, driven by the high specificity, sensitivity, and cost-effectiveness of immunoassays.
• Infectious Diseases Application: Projected to lead the market share in 2024, propelled by the high prevalence of diseases like HIV and influenza, and the impact of pandemics such as COVID-19.
• Hospitals & Clinics: Foreseen to be the largest end user segment in 2024, supported by the high volume of diagnostic tests and the rising number of hospital admissions.

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1.1.1.5       Regional Insights

The Asia-Pacific region is expected to register the highest growth rate during the forecast period. Key drivers include the burgeoning IVD industry, rising healthcare expenditure, and improvements in healthcare infrastructure.

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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