Published: Dec, 2017
Some of the key players in the global in vitro diagnostics quality control market include names such as Quantimetrix Corporation, Sysmex Corporation, Thermo Fisher Scientific Inc., Sun Diagnostics LLC, Siemens Healthineers, Seracare Life Sciences Inc., Roche Diagnostics, Randox Laboratories, Ortho Clinical Diagnostics Inc., Helena Laboratories, Bio-Rad Laboratories, and Abbott Laboratories among others. These companies are constantly trying to gain an advantage over their rivals. Thus, they are engaging into strategic business activities such as mergers and acquisitions to enhance their overall market presence.
The global market for in vitro diagnostics quality control is expected to reach an overall market valuation of US$710.8 mn by the fall of 2017. The further growth of the global market is projected to yield an estimated market valuation worth US$837 by the completion of the given forecast period in 2022. This growth of the global market for in vitro diagnostics quality control is expected to be achieved with the help of a steady CAGR of 3.3% over the course of the given forecast period.
The Asia Pacific except Japan market is expected to play a significant role in the overall development of the global market in the coming years. The APEJ market is expected witness a steady CAGR of 3.5% during the given forecast period and is estimated to reach a valuation worth US$136 mn. The North America market for in vitro diagnostics quality control is expected to dominate the market in coming years The North America market is expected to reach a total valuation of US$262.8 mn by the fall of 2017 and is estimated to rise further to US$311.7 mn by the end of given forecast period in 2022, showing a steady CAGR of 3.5%
Growing Number of Accredited Clinical Labs to Drive Market Growth
The global market for in vitro diagnostics quality control has turned into a key component of the global healthcare sector in the past few years because of the stable advancements in technology related to the healthcare industry. This has also enabled a swift growth of the global market for in vitro diagnostics quality control. The enhanced precision in the diagnoses offered by the in vitro diagnostics has made it a vital component in the healthcare industry. This has also made the global market for in vitro diagnostics quality control extremely vital with respect to maintaining the advantage offered by the system to the physicians. The increasing demand for more precise diagnostics in the healthcare industry is thus likely to act as the chief driving factor for the overall development of the global market for in vitro diagnostics quality control over the course of the given forecast period of 2017 to 2022. The increasing number of accredited clinical labs in the developing economies is also expected to play an important role in driving the overall growth of the global market.
Lack of Quality Control Services to Hamper Market Growth
Accredited clinical labs have been in consistent need for the services of in vitro diagnostics quality control. However, the serious dearth of these quality control services in the upcoming regions is expected to be the key restraining factor for the development of the global market for in vitro diagnostics quality control.
This review is based on the latest report by Transparency Market Research titled, “In Vitro Diagnostics Quality Control Market (Product Type - Whole Blood Based Controls, Serum/Plasma Based Controls, Urine Based Controls, Data Management Solutions, Quality Assurance Services; Application - Immunochemistry, Clinical Chemistry, Hematology, Molecular Diagnostics, Microbiology; End Use - Hospitals, Clinical Laboratories, Research and Academic Institutes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”
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