The in-vitro diagnostic (IVD) raw materials market involves various raw materials used for production of reagents, components and assays utilized in diagnostic tests. Major raw materials used in IVD include plastic, glass and metals for the manufacturing diagnostic instruments. Additionally, other key raw materials include antibodies for immunology tests, nucleic acids and enzymes for molecular diagnostic tests, and reagents for microbiology tests, hematology tests and clinical chemistry tests. Wide applications of IVD tests in disease screening and detection are augmenting the demand for associated raw materials. Rapid antigen and antibody tests kits are being extensively used for early detection of infectious diseases and metabolic disorders. Further, advances in molecular diagnostic techniques have enhanced disease diagnosis at genetic and molecular levels, driving the need for relevant raw materials.
The Global IVD Raw Materials Market is estimated to be valued at US$ 30339.66 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 To 2031.
Key Takeaways:
Key Players: Key players operating in the IVD raw materials market are Aalto Bio Reagents, Fapon Biotech, Fujirebio, Merck KgaA, F. Hoffmann-La Roche, and Thermo Fisher Scientific, among others. These key players account for a considerable share of the market.
Key Opportunities: Growing demand for disease screening and rise of point-of-care (POC) and rapid tests create significant opportunities for raw material suppliers in the IVD Raw Materials Market Size. Development of custom reagents and assays also opens profitable opportunities.
Global Expansion: Major players are expanding their geographical presence by setting up manufacturing plants across emerging countries to cater to growing demand. Partnerships and acquisitions are adopted by players to enhance technical expertise and better address the evolving needs.
Market Drivers: Rapid antigen and antibody tests kits are being extensively used for early detection of infectious diseases and metabolic disorders augmenting demand for associated raw materials. Advances in molecular diagnostic techniques have enhanced disease diagnosis at genetic and molecular levels, driving the need for relevant raw materials.
Market Restrain: High costs associated with development of new diagnostic assays and reagents along with stringent regulatory norms delay market approvals which act as a restraint.
Segment Analysis
The IVD raw materials market is mainly segmented into nucleic acid-based kits and reagents, enzymatic kits and reagents, immunochemistry-based kits and reagents, and critical care testing kits and reagents. Nucleic acid-based kits and reagents dominate the market and accounted for over 35% market share in 2024. This is because nucleic acid-based tests are widely used for cardiovascular disease testing, cancer testing, genetic testing, and infectious disease testing. Meanwhile, the enzymatic kits and reagents segment will witness steady growth during the forecast period due to rising use of enzyme-labelled technologies in various diagnostic assays.
Global Analysis
Regionally, North America held the largest share of over 35% in the global IVD raw materials market in 2024. This is attributed to robust healthcare infrastructure and rising demand for advanced diagnostic techniques in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to improving healthcare infrastructure, growing medical tourism industry, and increasing adoption of advanced diagnostics in large emerging economies like China and India. Meanwhile, Europe held the second largest market share and is expected to exhibit steady growth driven by supportive government initiatives for research and development in medical diagnostics across countries like Germany, UK, and France.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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