In Vitro Diagnostic (IVD) Reagents Markets, 2030 - Growing Demand for Protein Therapeutics and Personalized Medicines, Advancements in Diagnostic Technologies Propel Growth

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Mar 01, 2024, 14:00 ET

DUBLIN, March 1, 2024 /PRNewswire/ -- The "In Vitro Diagnostic (IVD) Reagents Market by Type (Antibodies, Proteins, Oligonucleotides, Nucleic Acid Probes) Technology (Immunoassay, Biochemistry, Molecular Diagnostic, Microbiology, Hematology) Use (Clinical, RUO) End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global in-vitro diagnostics reagents market is projected to reach $75.67 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.

The growth of this market is driven by the increasing prevalence of infectious diseases, increasing funding for research activities, the rising adoption of advanced diagnostic technologies, the growth in proteomics and genomics research studies, and the growing number of clinical laboratories offering advanced diagnostic testing menus. Additionally, emerging economies and the growing demand for protein therapeutics and personalized medicines are expected to offer significant market growth opportunities.

However, the stringent regulations for antigen-specific reagents restrain the growth of this market. Additionally, the high costs of reagents and the unfavorable reimbursement scenario pose a significant challenge to the market's growth.

Based on type, the IVD reagents market is segmented into antibodies, purified proteins and peptides, oligonucleotides, nucleic acid probes, and other reagents.

In 2023, the antibodies segment is expected to account for the largest share of the IVD reagents market. The large share of this segment is mainly attributed to the increasing R&D funding. For instance, According to Research America, investments in medical and health R&D by the U.S. has increased by 7.0% between 2019 and 2020. In 2020, the total medical and health R&D expenditure was USD 245.1 billion. Furthermore, the huge demand for antibodies in various biomedical & basic research are the factors contributing to the largest share of this segment.

Based on technology, the IVD reagents market is segmented into immunoassay/immunochemistry, biochemistry/clinical chemistry, molecular diagnostics, microbiology, hematology, coagulation/hemostasis, urinalysis, and other IVD technologies.

In 2023, the immunoassay/immunochemistry segment is expected to account for the largest share of the IVD reagents market. The large share of this segment is mainly attributed to the increasing use of immunoassays in infectious disease testing, the development of novel tests, and the rising demand for immunoassay-based tests. Further, the coronavirus (COVID-19) outbreak since December 2019 is expected to accelerate the growth of this segment owing to the national emergency declared and the requirement of various reagents for the kits and assay preparation.

Based on the use, the IVD reagents market is segmented into clinical use, research use only (RUO), and analyte-specific reagents (ASR).

In 2023, the clinical use segment is expected to account for the largest share of the IVD reagents market. The large share of this segment is mainly attributed to the growing need for the early detection of various epidemic and pandemic infections, the large volume of test samples diagnosed for clinical purposes, and initiatives undertaken by manufacturers to develop advanced IVD reagents drive the demand for IVD reagents for clinical use.

Based on the end user, the IVD reagents market is segmented into IVD manufacturers, reference laboratories, academic institutes and research laboratories, and hospital laboratories.

In 2023, the IVD manufacturers segment is expected to account for the largest share of the IVD reagents market. The large share of this segment is mainly attributed to the initiatives undertaken by IVD manufacturers and the increasing demand for pharmaceutical & biopharmaceutical products from emerging countries.

In 2023, North America is estimated to account for the largest share of the IVD reagents market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Furthermore, in 2023, the U.S. is expected to account for the largest share of the IVD reagents market in North America. The market growth in the U.S. is attributed to the increasing prevalence of infectious diseases, growing preference for PoC testing and personalized medicine, and rising funds and investments for research reagents.

Market Insights

Drivers

Increasing Prevalence of Infectious Diseases
Increasing Funding for Research Activities
Growth in Proteomics and Genomics Research Studies
Growing Number of Clinical Laboratories Offering Advanced Diagnostic Testing Menus

Restraints

Stringent Regulations for Antigen-Specific Reagents

Opportunities

Growing Demand for Protein Therapeutics and Personalized Medicines
Emerging Economies

Challenges

High Costs of Reagents and the Unfavorable Reimbursement Scenario

Factor Analysis

Regulatory Analysis

U.S.
Canada
Europe
China
Japan
India
Latin America
Middle East & Africa

Porter's Five Forces Analysis

Pricing Analysis

Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

Thermo Fisher Scientific (U.S.)
Becton Dickinson and Company (U.S.)
Merck KGaA (Germany)
Bio-Rad Laboratories Inc. (U.S.)
Agilent Technologies Inc. (U.S.)
Abcam plc (U.K.)
Hologic Inc. (U.S.)
InBios International Inc. (U.S.)
SDIX LLC (U.S.)
BioTechne Corporation (U.S.)
Bio-Synthesis Inc. (U.S.)
RayBiotech Inc. (U.S.)
Sino Biological Inc. (China)
Oy Medix Biochemica Ab (Finland)
QIAGEN N.V. (Netherlands)
Beckman Coulter Inc. (U.S.).

Competition Analysis

Overview
Competitive Benchmarking
Competitive Dashboard
Industry Leaders
Market Differentiators
Vanguards
Emerging Companies
Market Share Analysis (2022)
- Thermo Fisher Scientific (U.S.)
- Merck KGaA (Germany)
- Becton, Dickinson and Company (U.S.)

Scope of the Report:

IVD Reagents Market Size & Trend Analysis - by Type

Antibodies
Antibodies Market, By Type
Monoclonal Antibodies
Polyclonal Antibodies
Antibodies Market, By Target
Cluster of Differentiation (CD)
T-cell Receptor (TCR)
Epidermal Growth Factor Receptor (EGFR)
Other Targets
Purified Proteins and Peptides
Oligonucleotides
Nucleic Acid Probes
Other Reagents

Notes: 1. Other targets include Nucleic BCMA, DLL/Notch, EpCAM, HER2, PDGFR?, Claudin 18.2, SLAMF7, and DKK1. B-cell maturation antigen (BCMA).
2. Other reagents include blocking agents, detergents, surfactants, wetting agents, buffers, stabilizers, purified water, dyes, standards and controls, enzymes, cell culture reagents, and anti-coagulants.

IVD Reagents Market Size & Trend Analysis - by Technology

Immunoassay/Immunochemistry
Enzyme-linked Immunosorbent Assays (ELISA) and Enzyme-linked Immunospot Assays (ELISpot)
Lateral Flow Assays (LFA)/Rapid Tests
Western Blotting (WB)
Immunofluorescence (IF)
Functional Assays
Immunoprecipitation (IP)
Other Immunoassay Technologies
Biochemistry/Clinical Chemistry
Molecular Diagnostics
Polymerase Chain Reaction (PCR)
Hybridization
Isothermal Nucleic Acid Amplification Technology
DNA Sequencing & Next-generation Sequencing
Microarray
Other Molecular Diagnostic Technologies
Microbiology
Hematology
Coagulation/Hemostasis
Urinalysis
Other IVD Technologies

Note: 1. Other technologies include virus neutralization tests, agar gel immunodiffusion, and radioimmunoassay.
2. Other molecular diagnostic technologies include electrophoresis, ligase chain reaction (LCR), northern blot, and southern blot.
3. Other IVD technologies include anatomical pathology, histochemistry, and whole blood glucose monitoring.

IVD Reagents Market Size & Trend Analysis - by Use

Clinical Use
Research Use Only (RUO)
Analyte-specific Reagents (ASR)

IVD Reagents Market Size & Trend Analysis - by End User

Reference Laboratories
IVD Manufacturers
Academic Institutes and Research Laboratories
Hospital Laboratories

IVD Reagents Market Size & Trend Analysis - by Geography

North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Spain
Switzerland
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Singapore
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/tfn79m

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