The global IVD quality controls market is expected to reach USD 1.04 billion by 2022, growing at a CAGR of 3.5% during the forecast period (2017 to 2022). The market is mainly driven by the growing number of accredited clinical laboratories and increasing adoption of third-party quality controls.
In this report, the IVD quality controls market is segmented by product and service, application, end user, manufacturer type, and region. On the basis of product and service, the market is segmented into quality controls, data management solutions, and quality assurance services. In 2016, the quality controls segment accounted for the largest share of the market. Growth in this segment is mainly attributed to the growing number of accredited laboratories and increasing mandates on the use of quality controls from regulatory bodies to ensure the accuracy of diagnostic test results.
In 2016, North America commanded the largest share of the IVD quality controls market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Increasing recommendations and approvals for quality controls from the FDA and the College of American Pathologists (CAP), presence of well-established distribution channels in the U.S., and presence of leading companies in the U.S. are the major factors responsible for the large share of the North American market. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growing focus of manufacturers towards the improvement of laboratory testing quality in this region and also manufacturers in these countries are looking forward to work with local government agencies and academic societies to offer external quality control in an effort to standardize laboratory testing procedure and to ensure accuracy.
Major players in the IVD quality controls market are Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Randox Laboratories (U.K.), Roche Diagnostics Limited (Switzerland), Abbott Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Siemens Healthcare (Germany), and Sysmex Corporation (Japan).
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping greater market shares.
This report provides insights on the following pointers:
About Bharat Book Bureau:
Bharat Book Bureau is the leading market research information provider for market research reports, company profiles, industry study, country reports, business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.
Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Follow us on : Twitter|Facebook| LinkedIn |Google Plus
Bharat Book Bureau, the leading market research information aggregator provides market research reports, company profiles, country reports, newsletters, and online databases for the past twenty four years to corporate, consulting firms, academic institutions, government departments, agencies etc., globally, including India. Our market research reports help global companies to know different market before starting up business / expanding in different countries across the world.