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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
IVD Raw Materials Market size was valued at US$ 27,892.1 million in 2023 and is expected to grow at a CAGR of 14.6% from 2024 to 2030. In vitro diagnostic (IVD) raw materials are crucial components used in manufacturing diagnostic tests and assays. These materials play a vital role in developing and producing various diagnostic tools used to detect diseases, monitor health conditions, and guide treatment decisions. The increasing prevalence of chronic and infectious diseases, growing demand for personalized medicine, and advancements in diagnostic technologies are driving the IVD raw materials market. For instance, the World Health Organization reported that noncommunicable diseases accounted for 71% of global deaths in 2021, highlighting the need for effective diagnostic tools.
Additionally, the COVID-19 pandemic has significantly boosted the demand for diagnostic tests, further propelling market growth. Technological innovations in raw material production, such as the development of recombinant proteins and monoclonal antibodies, contribute to market expansion by enhancing the quality and specificity of diagnostic tests. Furthermore, the aging global population and increased healthcare expenditure in many countries are expected to drive demand for IVD tests and, consequently, IVD raw materials. However, challenges such as stringent regulatory requirements and the high cost of some specialized raw materials may hinder market growth. North America is expected to hold a significant market share, owing to its advanced healthcare infrastructure and high adoption of innovative diagnostic technologies.
In 2022, Thermo Fisher Scientific launched a new line of recombinant proteins specifically designed for use in COVID-19 diagnostic tests, improving test sensitivity and specificity by up to 15%.
Study Period
2024-2030Base Year
2023CAGR
14.6%Largest Market
North-AmericaFastest Growing Market
North-America
The increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular disorders is a significant driver for the IVD raw materials market. These conditions require frequent monitoring and testing, leading to higher demand for diagnostic tests and, consequently, IVD raw materials. For example, the International Diabetes Federation reported that 537 million adults were living with diabetes in 2021, a number expected to rise to 783 million by 2045. This trend underscores the growing need for diabetes monitoring tools and associated raw materials.
Additionally, the growing trend toward personalized medicine has boosted the need for more sophisticated and specific diagnostic tools, further driving market growth. The COVID-19 pandemic has also highlighted the importance of rapid and accurate diagnostic testing, leading to increased investment in IVD technologies and raw materials. However, stringent regulatory requirements for the production and use of IVD raw materials, particularly biological materials, may pose challenges to market growth. The high cost of some specialized raw materials, such as certain antibodies or rare enzymes, could also limit market expansion in some regions. Moreover, the complex supply chain for some raw materials, exposed during the pandemic, has prompted companies to diversify their sourcing strategies, potentially impacting market dynamics.
North America accounted for the largest share of the market in 2023 and is expected to maintain its dominance during the forecast period. Advanced healthcare infrastructure, high healthcare expenditure, and the presence of major IVD companies contribute to North America's leading position in the IVD Raw Materials Market. The Asia-Pacific region is anticipated to show the fastest growth during the forecast period, with a significant CAGR. Factors such as increasing healthcare investments, growing awareness about early disease detection, and improving healthcare infrastructure in countries like China and India are expected to fuel market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 27,892.1 million |
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Market CAGR |
14.6% |
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By Material Type |
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By End User |
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IVD Raw Materials Market w was valued at US$ 27,892.1 million in 2023 and is expected to grow at a CAGR of 14.6% from 2024 to 2030.
The leading players in the global IVD Raw Materials Market are Aalto Bio Reagents, Fapon Biotech, Fujirebio, F. Hoffmann-La Roche, and Thermo Fisher Scientific Inc.
The IVD Raw Materials Market is segmented based on Material Type, End User, and Geography.
Historic years considered for the market study are 2019-2022, 2023 is considered as the base year for market estimation, and Seven years forecast is presented from 2024 – 2030.
| 1.Executive Summary |
| 2.Global IVD Raw Materials Market Introduction |
| 2.1.Global IVD Raw Materials Market - Taxonomy |
| 2.2.Global IVD Raw Materials Market - Definitions |
| 2.2.1.Material Type |
| 2.2.2.End User |
| 2.2.3.Region |
| 3.Global IVD Raw Materials Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global IVD Raw Materials Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global IVD Raw Materials Market By Material Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Antibodies |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Enzymes |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Proteins |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Biological Materials |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Chemical Reagents |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global IVD Raw Materials Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Diagnostic Laboratories |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Hospitals |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Academic & Research Institutes |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global IVD Raw Materials Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America IVD Raw Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Antibodies |
| 8.1.2.Enzymes |
| 8.1.3.Proteins |
| 8.1.4.Biological Materials |
| 8.1.5.Chemical Reagents |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Diagnostic Laboratories |
| 8.2.2.Hospitals |
| 8.2.3.Academic & Research Institutes |
| 8.2.4.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe IVD Raw Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Antibodies |
| 9.1.2.Enzymes |
| 9.1.3.Proteins |
| 9.1.4.Biological Materials |
| 9.1.5.Chemical Reagents |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Diagnostic Laboratories |
| 9.2.2.Hospitals |
| 9.2.3.Academic & Research Institutes |
| 9.2.4.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) IVD Raw Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Antibodies |
| 10.1.2.Enzymes |
| 10.1.3.Proteins |
| 10.1.4.Biological Materials |
| 10.1.5.Chemical Reagents |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Diagnostic Laboratories |
| 10.2.2.Hospitals |
| 10.2.3.Academic & Research Institutes |
| 10.2.4.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) IVD Raw Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Antibodies |
| 11.1.2.Enzymes |
| 11.1.3.Proteins |
| 11.1.4.Biological Materials |
| 11.1.5.Chemical Reagents |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Diagnostic Laboratories |
| 11.2.2.Hospitals |
| 11.2.3.Academic & Research Institutes |
| 11.2.4.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America IVD Raw Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Antibodies |
| 12.1.2.Enzymes |
| 12.1.3.Proteins |
| 12.1.4.Biological Materials |
| 12.1.5.Chemical Reagents |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Diagnostic Laboratories |
| 12.2.2.Hospitals |
| 12.2.3.Academic & Research Institutes |
| 12.2.4.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Aalto Bio Reagents |
| 13.2.2.Fapon Biotech |
| 13.2.3.Fujirebio |
| 13.2.4.Hoffmann-La Roche |
| 13.2.5.Thermo Fisher Scientific Inc. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.