IVD Quality Control Market in terms of revenue was estimated to be worth $1.3 billion in 2022 and is poised to reach $1.6 Billion by 2027, growing at a CAGR of 5.4% from 2022 to 2027 according to a new report by MarketsandMarkets™. The growth of the IVD quality control market is driven by the rising number of accredited clinical laboratories, rising geriatric population and subsequent growth in the prevalence of chronic and infectious diseases and increasing adoption of third-party quality controls. The rising focus on multi-analyte controls and Increasing investments from government bodies and private players in healthcare sectors in emerging economies is also expected to offer significant growth opportunities for the market in the coming years. Lack of regulations for clinical laboratory accreditation in several emerging countries could be the challenges faced by the market in upcoming years.
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The IVD quality control industry is expected to witness a significant growth in near future. This is due to the increasing demand for quality control in the health care sector and the development of new technologies and processes that can help improve accuracy and efficiency.
Key Market Players of IVD Quality Control Industry
Some of the key players in the market include Bio-Rad Laboratories, Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific, Inc. (US), LGC Limited (UK), and Abbott Laboratories (US). Other prominent payers in the market include Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Fortress Diagnostics (UK), SERO AS (US), Sysmex Corporation (Japan), Ortho-Clinical Diagnostics (US), Helena Laboratories Corporation (US), Quidel Corporation (US), Sun Diagnostics, LLC (US), Seegene Inc. (South Korea), ZeptoMetrix Corporation (US), Qnostics (UK), Bio-Techne Corporation (US), Microbiologics (US), Microbix Biosystems (Canada), Streck, Inc. (US), Alpha-Tec Systems (US), Maine Molecular Quality Controls, Inc. (US), and Grifols, S.A. (Spain).
North America to dominate the global IVD quality control market
North America dominated the global IVD quality control market. Approvals of quality control products from the FDA and the College of American Pathologists (CAP) and the presence of leading companies in the US are driving the IVD quality control market in North America. US dominated the North America IVD quality control market. In the coming years, the increasing number of IVD tests; the growing need to ensure the accuracy, reliability, and reproducibility of test results; and the use of third-party quality controls among clinical laboratories in this region will play a key role in the market growth.
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IVD Quality Control Market Dynamics:
Drivers:
· Increasing number of accredited clinical laboratories
· Growing adoption of third-party quality controls
· Rising demand for external quality assessment support
· Rising geriatric population and subsequent growth in the prevalence of chronic and infectious diseases
· Increasing adoption of POC instruments in developed regions
Restraints:
· Additional costs and budget constraints in hospitals and laboratories
· Unfavorable reimbursement scenario for IVD tests
Opportunities:
· Rising demand for multi-analyte controls
Challenges:
· Stringent product approval process
· Lack of regulations for clinical laboratory accreditation in several emerging countries
The study categorizes the global IVD quality control market to forecast revenue and analyze trends in each of the following submarkets:
By Product and Service
- Quality control products
- Serum/ Plasma based controls
- Whole blood based controls
- Urine based controls
- Other controls
- Data Management Solutions
- Quality Assurance Services
By Technology
- Immunochemistry
- Clinical Chemistry
- Molecular Diagnostics
- Microbiology
- Hematology
- Coagulation/ Hemostasis
- Other Technologies
By Manufacturer Type
- Third-party controls
- Independent controls
- Instrument specific controls
- Original Equipment Manufacturer controls
By End User
- Hospitals
- Clinical Laboratories
- Academic and Research Institutes
- Other End users
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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