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In Vitro Diagnostics Quality Control Market to Rise due to Growing Investment in Technological Advancement in Medical Sector

Posted on Oct 24, 2017

The global in vitro diagnostics quality control market has become a key part of the healthcare sector in recent years due to the steady technological advancement of the healthcare sector, which has enabled rapid development of the in vitro diagnostics quality control market. The improved accuracy in diagnoses provided by in vitro diagnostics has made it important in the healthcare sector, making the in vitro diagnostics quality control market crucial in terms of maintaining the advantage provided by in vitro diagnostics to physicians. The rising demand for more accurate diagnoses in the healthcare sector is thus likely to remain a key driver for the global in vitro diagnostics quality control market over the 2017-2022 forecast period.

According to Transparency Market Research, the global in vitro diagnostics quality control market is likely to rise to a valuation of US$710.8 mn by the end of 2017 and further rise to US$837 mn by the end of 2022. The in vitro diagnostics quality control market is expected to exhibit a strong 3.3% CAGR over the 2017-2022 forecast period.

global in vitro diagnostics quality control market

Here are the key insights into the growth prospects of the global in vitro diagnostics quality control market:

The rising number of accredited clinical laboratories in emerging regions is likely to remain a prime driver for the global in vitro diagnostics quality control market in the coming years. Accredited clinical laboratories have been a constant need for the in vitro diagnostics quality control market and their lack in developing regions has been one of its key restraints. Thus, the growing government support and private investment in the development of medical infrastructure in emerging regions such as Asia Pacific except Japan, Latin America, and the Middle East is likely to be a major driver for the global in vitro diagnostics quality control market over the 2017-2022 forecast period.

Major players in the global in vitro diagnostics quality control market are likely to focus on expansion in emerging regions as a key growth strategy in the coming years due to the strong likelihood of government support in the form of subsidies and other financial incentives. Clinical laboratories have become a key outlet for solving unemployment in many emerging regions, particularly due to the need for labor in digital laboratories.

As a result, Asia Pacific except Japan is likely to play a crucial role in the development of the global in vitro diagnostics quality control market in the coming years. The APEJ market for in vitro diagnostics quality controls is set to exhibit a robust 3.5% CAGR over the 2017-2022 forecast period, rising to a valuation of US$136 mn by the end of 2022.

North America is likely to dominate the global in vitro diagnostics quality controls market in the coming years due to the widespread availability of advanced medical infrastructure in the region and the presence of several leading players in the healthcare and medical device sectors, which has enabled steady development of the in vitro diagnostics quality controls market. The North America in vitro diagnostics quality controls market is likely to reach a valuation of US$262.8 mn by the end of 2017 and further rise to US$311.7 mn by the end of 2022, exhibiting a robust CAGR of 3.5%.

Competitive Dynamics

Key players in the global in vitro diagnostics quality control market include Abbott Laboratories, Bio-Rad Laboratories Inc., Helena Laboratories, Ortho Clinical Diagnostics Inc., Randox Laboratories Ltd., Roche Diagnostics, Seracare Life Sciences Inc., Siemens Healthineers, Sun Diagnostics LLC, Thermo Fisher Scientific Inc., Sysmex Corporation, and Quantimetrix Corporation.

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