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In Vitro Diagnostics (IVD) Quality Control Market to Hit $ 2.9 Bn , Globally, by 2027 at 6.2% CAGR: Nova One Advisor

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New YorkNova one advisor recently added a research report, In Vitro Diagnostics (IVD) Quality Control market – global industry size, share analysis, market dynamics, market risk factors, market opportunities and challenges. segment forecast and the geographical distribution of the global market, profitability graph and the regional outlook of this business vertical. The global In Vitro Diagnostics (IVD) Quality Control market gathered revenue around USD 1.0 Billion in 2020 and market is set to grow USD 2.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.2% during the prediction period 2021 to 2027.

Overview of In Vitro Diagnostics (IVD) Quality Control Market Study

In Vitro Diagnostics (IVD) Quality Control market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

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Growth Factors:

The In Vitro Diagnostics (IVD) Quality Control testing plays a significant role in clinical decision-making. Over the years, In Vitro Diagnostics (IVD) Quality Control quality control products and procedures have become mandatory in accredited clinical or medical laboratories. The applications of In Vitro Diagnostics (IVD) Quality Control quality control products have also widened over the years, with a number of quality controls currently available in the market for clinical chemistry, immunochemistry, hematology, molecular diagnostics, coagulation, and microbiology. To ensure technological competitiveness, companies are continuously launching innovative and advanced quality control products in the market for a variety of applications.

The growth of the In Vitro Diagnostics Quality Control Market is primarily driven by the rising number of accredited clinical laboratories, rising geriatric population, rising demand for external quality assessment programs, increasing adoption of and POC instruments in developed regions and increasing adoption of third-party quality controls. The rising focus on multi-analyte controls is also expected to offer significant growth opportunities for the market in the coming years. The use of quality control products is, however, not mandatory for all clinical laboratories in many countries. The lack of regulations for these products is expected to adversely affect market growth.

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COVID-19 Impact on In Vitro Diagnostics (IVD) Quality Control Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the In Vitro Diagnostics (IVD) Quality Control market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the In Vitro Diagnostics (IVD) Quality Control market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the In Vitro Diagnostics (IVD) Quality Control market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the In Vitro Diagnostics (IVD) Quality Control market include:  Bio-Rad Laboratories, Inc., Randox Laboratories Ltd., Thermo Fisher Scientific, Inc., LGC Limited, and Abbott Laboratories.  Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Fortress Diagnostics, SERO AS, Sysmex Corporation, Ortho-Clinical Diagnostics, Helena Laboratories Corporation, Quidel Corporation, Sun Diagnostics, LLC, Seegene Inc., ZeptoMetrix Corporation, Qnostics, Bio-Techne Corporation, Microbiologics, Microbix Biosystems, Streck, Inc., Alpha-Tec Systems, Maine Molecular Quality Controls, Inc..

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global IVD quality control market, 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

Global IVD quality control market, by technology

  • Immunochemistry
  • Clinical Chemistry
  • Molecular Diagnostics
  • Microbiology
  • Hematology
  • Coagulation/ Hemostasis
  • Other Technologies

Global IVD quality control market, by manufacturer type

  • Third-party controls
    • Independent controls
    • Instrument specific controls
  • Original Equipment Manufacturer controls

Global IVD quality control market, by end user

  • Hospitals
  • Clinical Laboratories
  • Academic and Research Institutes
  • Other End users

Regional analysis:

North America was the largest regional market in 2020 and accounted for a revenue share of 46.59% owing to the presence of the U.S. FDA and many accredited diagnostic laboratories coupled with strong QC regulation systems. U.S. FDA along with GHTF regulates the North America region for the IVD QC market, from the production to pre- and post-marketing surveillance. The Asia Pacific is expected to be the fastest-growing region over the forecast period as the region has a high potential for this market due to the increasing number of product manufacturing companies.

Moreover, the Asia Pacific Federation of Clinical Biochemistry and Laboratory Medicine (APFCB) has been encouraging the use of IVDs. Thus, a rise in awareness for early and precise diagnosis fosters the product demand. Also, the presence of key regulatory authorities in the region, such as the Ministry of Health, Labor and Welfare (MHLW), Pharmaceuticals and Medical Devices Evaluation Agency (PMDA), and Ministry of Agriculture and Fisheries and Food, will support the market growth.

Why Buy this Report?

The purpose of Nova one advisor’s In Vitro Diagnostics (IVD) Quality Control market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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