What is the global market size of IVD Quality Control Market?

The IVD Quality Control Market size was valued at USD 1020.94 million in 2021 and is poised to grow from USD 1062.8 million in 2022 to USD 1465.74 million by 2030, growing at a CAGR of 4.1% during the forecast period (2023-2030).

What is the key driver of Global IVD Quality Control Market?

The burden of various diseases has increased, resulting in an increase in laboratory tests. The COVID-19 pandemic in December 2019 led to a rapid increase in demand for diagnostic testing, prompting many government authorities to establish additional laboratories to increase testing capacity, thereby driving market growth.

Global IVD Quality Control Market Size, Share, Growth Analysis, By Product and Service(Quality control products, data management solutions), By Application(Clinical Chemistry, immunochemistry/immunoassay), By Manufacturer type(Third-party control manufacturers, and original equipment manufacturers) - Industry Forecast 2024-2031

Q: What is the key market trend for Global IVD Quality Control Market?

Due to the increasing prevalence of diseases, medical device companies are continuously focusing on the development of technologically advanced diagnostic devices. Hospitals and laboratories show a rising preference towards point-of-care testing devices to obtain accurate real-time data, thereby increasing the demand for such devices and propelling market growth.

Report ID: SQMIG35H2068 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 93 | Figures: 76

Global IVD Quality Control Market Dynamics

IVD Quality Control Market Driver

Increasing Authorized Clinical Laboratory Across the Globe

Burden of various diseases are increased which result in increasing laboratory tests. So that there is an increase in the laboratories in the public and commercial sectors. In Dec2019, COVID-19 increased rapidly which led to high demand for diagnostic testing. Many government authorities have established additional laboratories in order to increase the capacity of laboratory testing. Hence drive the market growth.

IVD Quality Control Market Restraint

Additional Cost and Budget Constraints in Hospital and Laboratories

In a hospital to set up a QC procedure there is a need for investment as well as expertise. In Clinical laboratories working with low volume QC procedures, adoption of QC procedures is costly. This coupled with budgetary constraints in many hospitals and laboratories decreases the adoption of QC procedures.

The cost of data management to manage QC data and QA services for the independent assessment of diagnostic tests further increases the total cost for end users. So that small hospital and laboratory are unable to handle this cost burden.

Global IVD Quality Control Market Report Snapshots

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Global IVD Quality Control Market size was valued at USD 1.10 billion in 2022 and is poised to grow from USD 1.11 billion in 2023 to USD 1.5 billion by 2031, growing at a CAGR of 4.10% during the forecast period (2024-2031).

The Global In Vitro Diagnostics Quality Control market is moderately competitive. Key players adopted various strategies such as merger & acquisitions, collaboration and others to strengthen their position in the global market. Companies focusing on new treatments to produce innovative products. 'Bio-Rad Laboratories', 'Abbott Laboratories', 'Siemens Healthineers', 'Thermo Fisher Scientific', 'Roche Diagnostics', 'Randox Laboratories', 'Bio-Techne Corporation', 'Ortho Clinical Diagnostics', 'Streck', 'Sysmex Corporation', 'Technopath Clinical Diagnostics', 'Helena Biosciences', 'SeraCare Life Sciences', 'Quidel Corporation', 'ZeptoMetrix Corporation', 'Merck KGaA', 'Seracare Life Sciences', 'Fortress Diagnostics', 'Maine Molecular Quality Controls', 'LGC Group'

Burden of various diseases are increased which result in increasing laboratory tests. So that there is an increase in the laboratories in the public and commercial sectors. In Dec2019, COVID-19 increased rapidly which led to high demand for diagnostic testing. Many government authorities have established additional laboratories in order to increase the capacity of laboratory testing. Hence drive the market growth.

Due to increasing prevalence of diseases, medical device companies are continuously focusing on the development of technologically advanced diagnostic devices. Hospitals and laboratories show a rising preference towards point-of-care testing devices to get accurate real time data. Hence the demand for point-of-care testing devices is increased that help to propel the market growth.

North America is expected to hold a large revenue share of the global IVD quality control market due to the presence of the U.S. FDA and many accredited diagnostic laboratories coupled with a strong QC regulation system. The U.S. FDA along with GHTF regulates the North America region for the IVD QC market, from the production to pre-and post-marketing surveillance.

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Global IVD Quality Control Market Dynamics

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