The growing prevalence of chronic and infectious diseases is leading to increasing adoption of in-vitro diagnostic tools and tests. IVD raw materials are substrates, reagents and other consumables used in the manufacture and processing of IVD test kits and assays. These materials include antibodies, antigens, nucleic acid probes and other ingredients that are used to detect and measure the presence or concentration of targeted substances. The global IVD raw materials market is estimated to be valued at US$ 27,104.37 Mn in 2023 and is expected to exhibit a CAGR of 58% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The expanding global diagnostics industry is a major driver augmenting the growth of the IVD raw materials market. According to the World Health Organization (WHO), infectious diseases have contributed significantly to the global disease burden. This has increased the demand for immunochemistry tests, reagents and instruments. With technological advancements, new tests are being developed for early detection of diseases which in turn is fueling the consumption of diverse IVD raw materials. Furthermore, rising awareness about preventive healthcare and the growing trend of home healthcare has boosted the demand for IVD products requiring various raw ingredients.

SWOT Analysis
Strength: The IVD raw materials market is poised to grow significantly due to the increasing prevalence of chronic and infectious diseases globally. With rising healthcare expenditure, more diagnostics tests are being performed which drives the demand for IVD raw materials. Furthermore, technological advancements in developing rapid diagnostic kits and assays fuel market growth.

Weakness: Stringent regulatory framework delays the approval process of IVD raw materials. Further, high development cost associated with IVD raw materials increases the product cost.

Opportunity: Emerging markets offer lucrative opportunities owing to growing awareness and increasing investments in healthcare infrastructure. Growing demand for point-of-care testing represents an opportunity area for IVD raw materials manufacturers. Furthermore, development of biosensor technology enables miniaturization of diagnostic devices, presenting new opportunities.

Threats: Threat of substitute diagnostic modalities poses a challenge. Alternative technologies like AI-based diagnostics can replace conventional IVD testing. Stringent medical waste disposal regulations increases compliance costs for manufacturers.

Key Takeaways

The Global IVD Raw Materials Market Size is expected to witness high growth over the forecast period.

Regional Analysis: North America currently dominates the marketand is anticipated to maintain its leading position throughout 2030. This can be attributed to the presence of well-established healthcare industry, increasing healthcare spending, and rising prevalence of chronic disorders in the region.


The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Rapid economic development, growing awareness about disease diagnosis, increasing healthcare expenditure, and rising geriatric population are some of the key factors driving the regional market growth. China dominates the Asia Pacific market due to improving healthcare infrastructure and growing focus on early disease diagnosis in the country.

Key players operating in the IVD raw materials market are Adherium Limited, AstraZeneca, Boehringer Ingelheim, Cohero Health, GSK, Novartis, and ResMed, among others. Major players are focusing on new product launches, collaborations, and mergers & acquisitions to consolidate their market positions.
For instance, in 2023, Adherium collaborated with AstraZeneca to develop digital therapeutics for chronic diseases.

For More Insights, Read: https://www.newsstatix.com/ivd-raw-materials-market-trends-growth-and-regional-outlook-2023-2030/

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