IVD products are becoming increasingly important to hospitals and physicians, and this report reveals that sales of these products have continued to rise during the last few years. This market research report is expected to provide valuable information to healthcare professionals, policymakers, and business owners. There are several market players in the IVD market, including Roche Diagnostics, Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific, Johnson & Johnson, Symex Corporation, and Symex Corporation.
Rising awareness of personalized medicine has resulted in an increased use of IVD technologies and molecular diagnostics (MTx) in the United States.
In addition, rapid test results are essential in individualized treatment regimens, which reduce the incidence of unintended side effects. Other applications include diabetes monitoring using HbA1c testing, therapeutic drug monitoring for HIV, and cholesterol monitoring to assess the effectiveness of lipid-lowering therapies.
IVDs have specific regulatory requirements regarding the methods of testing. Most IVDs require analytical studies based on artificial or clinical samples, and in rare cases, further clinical information is required. Although the FDA rarely requires prospective clinical studies, they regularly request laboratory samples that meet specific requirements. In addition to testing protocols, manufacturers are required to comply with a range of quality assurance and regulatory requirements. By purchasing this market research report, you’ll have access to a comprehensive market overview and future forecasts.
In addition to quantitative and qualitative data, the report includes qualitative analysis of IVD testing and quality controls. The market for quality controls includes various types of test strips, including immunoassay, molecular diagnostics, and clinical chemistry. The report also lists key players in the IVD quality control market. This includes Roche Diagnostics, Abbott Diagnostics, Seracare Life Sciences, and Technopath Clinical Diagnostics.
The IVD quality control products market was valued at $269 million in 2015.
The growth of this segment is expected to increase at a CAGR of 3.5% during the forecast period. IVD quality control products are used to validate the reliability of IVD testing systems, and evaluate the impact of operator performance and environmental conditions on test results. According to the report, the growth of the IVD quality control market has been attributed to the increasing number of third-party quality controls and accreditation standards. However, stringent regulatory norms and reimbursement policies will hamper the growth of the market.
US demand for patient monitoring systems is expected to grow at a CAGR of 5.9% through 2015. This market will continue to grow strongly in the consumer segment due to foodborne pathogens. In addition, the equipment sector is projected to increase at a 4.6 percent CAGR through 2013, with accessories and remote monitoring equipment the fastest growing segments. In the US, pharmaceuticals will remain the leading product category, but home health care services will experience the largest growth rates.
Packaged lawn and garden consumables will grow at a CAGR of 3.7 percent annually through 2015. Growth in this category will be led by new entrants like stevia extract reb-A. Meanwhile, the lighting fixtures segment will grow at a 4.8 percent annual rate, with the fastest gains being in the motor vehicle and residential sectors. Finally, LED-based lighting will expand at double-digit rates from 2009 levels, reversing recent declines. Further, the demand for this product category is likely to increase with the advent of more advanced materials.