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.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report analyzes key industry drivers, restraints, challenges, and opportunities. 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.
An in-depth analysis of the geographic scenario of IVD reagents provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. 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.
Some of the key players operating in the IVD reagents market report are 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.), Bio Techne 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), and Beckman Coulter, Inc. (U.S.).
Scope of the Report:
IVD Reagents Market Size & Trend Analysis?by Type
o Antibodies Market, By Type
? Monoclonal Antibodies
? Polyclonal Antibodies
o Antibodies Market, By Target
? Cluster of Differentiation (CD)
? T-cell Receptor (TCR)
? Epidermal Growth Factor Receptor (EGFR)
? Other Targets
- Purified Proteins and Peptides
- 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
o Enzyme-linked Immunosorbent Assays (ELISA) and Enzyme-linked Immunospot Assays (ELISpot)
o Lateral Flow Assays (LFA)/Rapid Tests
o Western Blotting (WB)
o Immunofluorescence (IF)
o Functional Assays
o Immunoprecipitation (IP)
o Other Immunoassay Technologies
- Biochemistry/Clinical Chemistry
- Molecular Diagnostics
o Polymerase Chain Reaction (PCR)
o Isothermal Nucleic Acid Amplification Technology
o DNA Sequencing & Next-generation Sequencing
o Other Molecular Diagnostic Technologies
- 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
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
- Latin America
o Rest of Latin America
- Middle East & Africa