Global IVD Raw Materials Market Overview: Trends Shaping Growth to 2029

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What Market Value Is The IVD Raw Materials Industry Expected To Reach By 2029, Starting From 2025 Levels?

The ivd raw materials market size has experienced significant expansion over recent years. It is projected to grow from $25.13 billion in 2024 to $27.47 billion in 2025, achieving a compound annual growth rate (CAGR) of 9.3%. This historic growth can be attributed to the rising prevalence of infectious and chronic diseases, increased demand for laboratory-based diagnostic testing, broader application of enzyme- and protein-based reagents in diagnostics, the expansion of clinical diagnostic laboratories, and intensified efforts for awareness and early disease detection.

The ivd raw materials market size is projected for substantial expansion in the coming years. This market is anticipated to reach $39.88 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 9.8%. This growth during the projection period can be attributed to factors such as increasing need for quick and highly sensitive diagnostic methods, broader use of molecular diagnostics in cancer treatment, an expanding elderly demographic along with associated health issues, rising call for companion diagnostics, and increased funding from biopharmaceutical firms. Key developments expected within this timeframe involve a move towards synthetic and recombinant raw ingredients, the incorporation of multiplex assays necessitating specific components, the widespread use of ready-to-use and lyophilized reagent forms, and the creation of raw materials specifically designed for microfluidic and lab-on-a-chip technologies.

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Which Drivers Are Shaping The IVD Raw Materials Industry’s Market Share?

The rising occurrence of infectious diseases is anticipated to boost the expansion of the IVD raw materials market in the future. These diseases are conditions resulting from detrimental microbes capable of transmitting between individuals or organisms. This growing prevalence stems from rapid urbanization, which fosters the spread of infectious diseases through heightened population density and by putting pressure on sanitation and healthcare systems. IVD raw materials are vital in fighting infectious diseases, facilitating the creation of precise diagnostic tests for prompt identification and efficient disease control. For example, a report from May 2023 by the Statens Serum Institut, a medical laboratory based in Denmark, indicated that in 2021, 146 cases of chronic hepatitis C were documented, with 72% (105 cases) affecting men. By 2022, this figure rose to 196 cases, of which 67% (131 cases) were men. Consequently, the rising incidence of infectious diseases is stimulating the growth of the IVD raw materials market.

What Are The Leading Segments Analyzed In The IVD Raw Materials Market?

The ivd raw materialsmarket covered in this report is segmented –

1) By Product: Antibodies; Antigens; Enzymes; Proteins; Biological Buffers; Other Products

2) By Technology: Molecular Diagnostics; Clinical Chemistry; Immunochemistry; Other Technologies

3) By End User: Pharmaceutical And Biotechnology Companies; Diagnostic Laboratories; Contract Research Organizations; Other End Users

Subsegments:

1) By Antibodies: Monoclonal Antibodies; Polyclonal Antibodies; Recombinant Antibodies

2) By Antigens: Recombinant Antigens; Native Antigens; Synthetic Antigens

3) By Enzymes: Polymerases; Reverse Transcriptases; Oxidases

4) By Proteins: Carrier Proteins; Blocking Proteins; Recombinant Proteins

5) By Biological Buffers: Tris Buffers; HEPES Buffers; Phosphate Buffers

6) By Other Products: Stabilizers; Surfactants; Preservatives

What Are The Major Trends Driving The Growth Of The IVD Raw Materials Market?

Major entities operating within the IVD raw materials market are concentrating on developing sophisticated solutions, such as IVD manufacturing facilities, to enhance regional diagnostic capabilities and promote healthcare self-sufficiency. An IVD (in vitro diagnostic) manufacturing facility is a specialized center where devices and equipment for diagnosing diseases and conditions through laboratory testing of samples outside the human body are designed, manufactured, and assessed for quality and compliance. For instance, in January 2024, Colexa Biosensor Limited, a Nigeria-based health technology firm, partnered with Codix Pharma Limited, a Nigeria-based pharmaceutical manufacturing company, to launch Sub-Saharan Africa’s first in vitro diagnostics (IVD) manufacturing facility in Lagos. This establishment, which produces the onpoint blood glucose meter and strips, represents a significant achievement in Africa’s healthcare industry, designed to address the growing prevalence of diabetes and improve access to diagnostics. The facility currently has an annual production capacity of 3.6 million packs, with the potential to expand to 10.8 million packs, initially focusing on fulfilling the demands of West Africa.

Which Major Firms Are Strengthening Their Position In The IVD Raw Materials Industry?

Major companies operating in the IVD raw materials market are F. Hoffmann-La Roche, Merck KGaA, Thermo Fisher Scientific, Abbott Laboratories, Siemens Healthineers, Becton Dickinson and Company (BD), Agilent Technologies, Sysmex Corporation, Waters Corporation, Bio-Rad Laboratories Inc., LGC Limited, Neogen Corporation, MP Biomedicals, CUSABIO Technology, Fujirebio, Fapon Biotech, ABclonal Technology, Creative Diagnostics, AIVD Biotech Inc., OPERON, Beijing Diagreat Biotechnology Co. Ltd., Biosynth, Aalto Bio Reagents, Angstrom Biotech, Eximio Biotech, Glentham Life Sciences Limited, OYC Americas Inc., NOVA Biologics Inc.

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Which Region Is Expected To Witness The Fastest Growth In The IVD Raw Materials Market?

North America was the largest region in the IVD raw materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IVD raw materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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