The global IVD quality control products market is expected to reach USD 979.0 million by 2020, growing at a CAGR of 3.6% during the forecast period of 2015 to 2020. The growth in this market is majorly 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 based on product type, application, end user, manufacturer type, and region. Based on product type, the market is segmented into quality controls, data management solutions, and quality assurance services. In 2015, the quality controls segment accounted for the largest share of the IVD quality control products market, and is expected to grow at the highest CAGR during the forecast period. The high growth in this segment is attributed to the growing number of accredited laboratories and increasing focus of regulatory bodies on mandating the use of quality controls to ensure the accuracy of diagnostic test results.
In 2015, North America commanded the largest share of the IVD quality control products market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The U.S. is a prime market for IVD quality controls due to the increasing number of accredited laboratories in the country, growing diagnostic test volumes, and rising use of quality control data management solutions to improve efficiency of laboratory operations. On the other hand, the Asia-Pacific market is expected to witness the highest growth in the coming years majorly due to the growing focus of manufacturers on improving laboratory testing quality in APAC countries. Moreover, manufacturers in these countries are looking forward to work with local government agencies and academic societies to offer external quality controls in an effort to standardize laboratory testing procedures and 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).
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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:
- Market Penetration: Comprehensive information on the product portfolios offered by top players operating in the IVD quality controls market. The report analyzes the IVD quality controls market by product type, application, end user, and manufacturer type across all regions
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the IVD quality controls market
- Market Development: Comprehensive information on the lucrative emerging markets by product, technology, application, and region
- Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the IVD quality controls market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of the leading players in the IVD quality controls market