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In Vitro Diagnostics Quality Control Market to Expand with Significant CAGR by 2022

Jan 4th 2019 at 7:05 AM

 

The increasing prominence of the in vitro diagnostics sector in healthcare and its growing use across a number of regions across the world has boosted demand from the global In Vitro Diagnostics Quality Control Market. In vitro diagnostics quality controls have taken on a crucial role in modern healthcare due to the better accuracy of diagnoses offered by their use and are thus likely to remain in demand in the coming years. The global in vitro diagnostics quality control market is thus likely to exhibit a steady CAGR of 3.3% over the 2017-2022 forecast period.

Transparency Market Research estimates the global in vitro diagnostics quality control market to rise to a valuation of US$710.8 mn by the end of 2017 and further rise to US$837 mn by the end of 2022. The steady rise in investment in the healthcare sector in recent years from governments as well as leading private sector players is likely to aid smooth growth of the in vitro diagnostics quality control market in the coming years.

The report segments the global in vitro diagnostics quality control market by product type into whole blood based controls, serum/plasma based controls, urine based controls, data management solutions, quality assurance services, and others. Of these, whole blood based controls are likely to dominate the global in vitro diagnostics quality control market in the coming years due to the comprehensive assessment they provide in in vitro diagnostics. The whole blood based controls segment of the global in vitro diagnostics quality control market is expected to be valued at US$208.5 mn by the end of 2017 and further rise to US$238.5 mn by the end of 2022. The segment’s 2.7% CAGR over the 2017-2022 forecast period is likely to lead to its share in the market dropping from 29.3% to 28.5% by 2022, but its annual growth figure of US$6 mn is the highest in the global in vitro diagnostics quality control market.

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The North America market for in vitro diagnostics quality controls is expected to rise from US$262.8 mn in 2017 to US$311.7 mn by the end of 2022. North America accounted for close to 37% of the global in vitro diagnostics quality control market in 2017 and is likely to remain similarly dominant in the global figures over the 2017-2022 forecast period. The North America in vitro diagnostics quality control market is likely to exhibit a strong 3.5% CAGR between 2017 and 2022 to remain the most attractive region for in vitro diagnostics quality control market players.

Despite North America’s dominance in the in vitro diagnostics quality control market, Asia Pacific except Japan is also likely to play a prominent role in the development of the global in vitro diagnostics quality control market in the coming years. The Asia Pacific except Japan in vitro diagnostics quality control market is expected to exhibit a strong 3.5% CAGR over the 2017-2022 forecast period, rising to a valuation of US$136 mn by the end of 2022.

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Key players in the global in vitro diagnostics quality control market include Abbott Laboratories, Bio-Rad Laboratories Inc., Helena Laboratories, Ortho Clinical Diagnostics Inc., Randox Laboratories Ltd., Roche Diagnostics, Seracare Life Sciences Inc., Siemens Healthineers, Sun Diagnostics LLC, Thermo Fisher Scientific Inc., Sysmex Corporation, and Quantimetrix Corporation.

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