Global IVD Quality Control Market Size, Share, Growth Analysis, By Product and Service, By Application, By Manufacturer type - Industry Forecast 2023-2030

IVD Quality Control Market size was valued at USD 1.02 billion in 2021 and is poised to grow from USD 1.06 billion in 2022 to USD 1.46 billion by 2030, growing at a CAGR of 4.1% in the forecast period (2023-2030).

Clinical laboratories, an aging population, rising need for external quality assessment programs, expanding POC instrument use in developed nations, and an increase in third-party quality control are all factors contributing to the growth of the worldwide IVD quality control market. Increased prevalence of infectious diseases, HIV, and cancers worldwide, which call for novel diagnostics for efficient treatment and quality control to track their effectiveness. An estimated 24.5 million HIV patients received antiretroviral therapy in 2019, according to the Joint United Nations Program on HIV and AIDS. The market is expanding as a result of quick diagnosis systems and increased need for high-quality evolution assistance.

Top-down and bottom-up approaches were used to estimate and validate the size of IVD Quality Control and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The market for quality control of in vitro diagnostics (IVD) is divided into product and service, application, manufacturer type, end user, and geography. The IVD Quality Control Market is divided into quality control products, data management solutions, and quality assurance services based on the service and product offered. Clinical chemistry, immunochemistry/immunoassay, hematology, molecular diagnostics, coagulation and hemostasis, microbiology, and others are the different application categories that make up the global market. The global IVD Quality Control Market is segmented into original equipment manufacturers and third-party control manufacturers based on the type of manufacturer. Hospitals, home care settings, clinical laboratories, and academic and research institutes are the different end user segments of the worldwide IVD Quality Control Market.

Driver

Increasing Authorized Clinical Laboratory Across the Globe

The prevalence of numerous diseases is rising, which raises the number of laboratory tests. so that the number of laboratories in the public and private sectors will expand. The rapid growth of COVID-19 in December 2019 created a significant need for diagnostic tests. To expand the capability of laboratory testing, numerous government agencies have set up more laboratories. Consequently, fuel market expansion.

Restraints

Additional Cost and Budget Constraints in Hospital and Laboratories

Investment and experience are required in a hospital to build up a QC procedure. Adoption of QC processes is expensive in clinical laboratories using low volume QC procedures. This reduces the adoption of QC techniques together with budgetary restrictions in many hospitals and laboratories.

Market Trend

Medical device businesses are continually concentrating on the creation of technologically cutting-edge diagnostic tools due to the rising occurrence of diseases. Point-of-care testing devices are increasingly preferred by hospitals and laboratories in order to obtain precise real-time data. As a result, there is a surge in demand for point-of-care testing equipment, which fuels the market's expansion.