Latest News- In Vitro Diagnostics (IVD) Contract Manufacturing Market: IVD consumables is expected to lead the Device segment during 2025-2029

The In Vitro Diagnostics (IVD) Contract Manufacturing Market is being driven by Increasing demand for one-stop-shop IVD contract manufacturing

The In Vitro Diagnostics (IVD) Contract Manufacturing Market is expected to grow at a CAGR of 13.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 12966.6 million. In the realm of In Vitro Diagnostics (IVD) manufacturing, leasing equipment has emerged as a strategic business solution for end-users, particularly those with budgetary constraints. Leasing not only increases operational flexibility but also offers tax benefits, enhancing the financial performance of IVD manufacturers. The swift and uncomplicated credit approval and documentation processes associated with leasing make it an attractive option for businesses of all sizes. Shimadzu, for instance, prioritizes leasing IVD equipment to numerous end-users, including healthcare facilities in the US and abroad. Transactions for the company span from USD6,000 to USD250,000, underscoring the significant growth opportunities that leasing presents. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Device
  • IVD consumables
  • IVD equipment/instrument
• Service Type
  • Assay development
  • Manufacturing
  • Others
• Technology
  • Immunoassays
  • Molecular diagnostics
  • Clinical chemistry
  • Hematology
  • Microbiology
• Geography
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for one-stop-shop IVD contract manufacturing
• Increasing prevalence of chronic and infectious diseases and rising geriatric population
• High growth potential for market in emerging countries

However, the market also witnesses some limitations, which are as follows:

• Threat of infringement of intellectual property (IP) rights in IVD contract manufacturing
• Doubts over quality control and assurance of IVD products
• Delays in contractual obligations in IVD contract manufacturing

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Market Scope in In Vitro Diagnostics (IVD) Contract Manufacturing Market Research Report

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Research Analysis Overview

The In Vitro Diagnostics (IVD) Contract Manufacturing Market involves third-party manufacturers producing diagnostic testing materials, such as assay kits and diagnostic instruments, for disease detection and monitoring. These operations offer expertise, specialized manufacturing capabilities, and economies of scale, reducing production costs for clients. The prevalence of diseases, aging population, and regulatory requirements drive market growth. Molecular diagnostics, point-of-care testing, and rapid diagnostic tests are key trends. Strategic collaborations, personalized medicine, and AI are shaping the industry. Global healthcare spending, early disease detection, patient care, and regulatory compliance are significant factors. Infectious diseases and regulatory requirements pose challenges.

Market Research Overview

The In Vitro Diagnostics (IVD) Contract Manufacturing Market is a significant segment of the global healthcare equipment industry. This market involves diagnostic testing materials manufactured by third-party specialists for IVD companies. Technavio, a leading technology research and consulting firm, categorizes this market within the larger healthcare equipment sector, which encompasses R&D of capital equipment, instruments, implants, accessories, and consumables for disease diagnosis, monitoring, and treatment. The global healthcare equipment market size is determined by the combined revenue generated by manufacturers of diagnostic equipment and devices. Contract manufacturers bring expertise, optimized operations, and production cost advantages to IVD companies, enabling them to focus on core competencies. These manufacturers offer advanced, differentiated, and clinically validated assay kits, utilizing state-of-the-art facilities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/