CHICAGO, March 9, 2020 /PRNewswire/ -- According to the new market research report "In Vitro Diagnostics Quality Control Market by Source (Serum, Whole Blood, Urine), Application (Immunoassay, Hematology, Microbiology), Type (Independent Controls, Original Equipment Manufacturers), End User (Hospital, Lab) - Global Forecast to 2025", published by MarketsandMarkets™, the In Vitro Diagnostics (IVD) Quality Control Market is projected to reach USD 1,158 million by 2025 from USD 961 million in 2020, at a CAGR of 3.8% during the forecast period.
The market for IVD quality control is primarily driven by the rising number of accredited clinical laboratories and the increasing adoption of third-party quality controls. However, stringent product approval process and lack of regulations for clinical laboratory accreditation will restrain the market growth.
The serum/plasma based quality control segment is expected to dominate the In Vitro Diagnostics Quality Control Market in 2019.
On the basis of type, the quality control products market is segmented into serum/plasma-based controls, whole blood-based controls, urine-based controls, and other controls (controls manufactured from spinal fluid, lipoprotein extracts, and immunoproteins). The serum/plasma-based controls segment is expected to account for the largest market share in 2019. The large share of this segment is mainly attributed to the greater uptake of serum/plasma-based quality controls among laboratories and the widening application areas of these controls for various IVD tests.
The molecualr diagnostics segment is expected to grow at the highest CAGR during the forecast period.
Based on applications, the IVD Quality Control Market is segmented into clinical chemistry, immunochemistry, hematology, coagulation & hemostasis, microbiology, molecular diagnostics, and other applications (ESR, urine chemistry, immunology, cardiac assessment, and blood morphology). The molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rising prevalence of infectious diseases, cancer, and various genetic disorders; the growing demand for blood screening; and the increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing.
The North America to hold the largest regional market share in 2020.
The North America is expected to account for the largest share of the global IVD Quality Control Market in 2020, followed by Europe. The large share of the North America can be attributed to the highly developed healthcare system in the US and Canada, and the presence of a large number of leading IVD quality control vendors & national clinical laboratories & hospitals in this region.
The prominent players in this In Vitro Diagnostics Quality Control Market are Bio-Rad Laboratories Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific Inc. (US), Technopath Clinical Diagnostics (Ireland), Bio-Techne Corporation (US), Fortress Diagnostics (UK), SeraCare Life Sciences Inc. (US), SERO AS (Norway), Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), and Abbott Laboratories Inc. (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.