IVD Reagents Market to be Worth $79.76 Billion by 2031

IVD Reagents Market Size, Share, Forecast, & Trends Analysis by Type (Antibodies, Proteins, Oligonucleotides, Nucleic Acid Probes) Technology (Immunoassay, Biochemistry, Microbiology, Hematology) Use (Clinical, RUO) End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘IVD Reagents Market Size, Share, Forecast, & Trends Analysis by Type (Antibodies, Proteins, Oligonucleotides, Nucleic Acid Probes) Technology (Immunoassay, Biochemistry, Microbiology, Hematology) Use (Clinical, RUO) End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the IVD reagents market is projected to reach $79.76 billion by 2031, at a CAGR of 5.3% during the forecast period. The growth of this market is driven by the increasing prevalence of infectious diseases, increasing funding for research activities, the rising adoption of advanced diagnostic technologies, the growth in proteomics & genomics research studies, and the growing number of clinical laboratories offering advanced diagnostic testing menus. Additionally, emerging economies and the growing demand for protein therapeutics and personalized medicines are expected to offer significant market growth opportunities.

However, the stringent regulations for antigen-specific reagents restrain the growth of this market. Additionally, the high costs of reagents and the unfavorable reimbursement scenario pose a significant challenge to the market's growth.

Key Players

The key players operating in the IVD reagents market are Thermo Fisher Scientific (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Abcam plc (U.K.), Hologic Inc. (U.S.), InBios International, Inc. (U.S.), SDIX, LLC (U.S.), Bio Techne Corporation (U.S.), Bio-Synthesis Inc. (U.S.), RayBiotech, Inc. (U.S.), Sino Biological Inc. (China), Oy Medix Biochemica Ab (Finland), QIAGEN N.V. (Netherlands), and Beckman Coulter, Inc. (U.S.).

IVD Reagents Market: Future Outlook

The IVD reagents market is segmented based on Type [Antibodies (by Type {Monoclonal, Polyclonal}, Target {Cluster Differentiation (CD), T-cell receptor (TCR), Epidermal Growth Factor Receptor (EGFR), Other Targets), Purified Proteins and Peptides, Oligonucleotides, Nucleic Acid Probes, Other Reagents], Technology [Immunoassay/Immunochemistry (Enzyme-linked Immunosorbent Assays (ELISA) and Enzyme-linked Immunospot Assays (ELISpot), Lateral Flow Assays, Western Blotting, Immunofluorescence, Functional Assays, Immunoprecipitation, Other immunoassay Technologies), Biochemistry/Clinical Chemistry, Molecular Diagnostics (Polymerase Chain Reaction (PCR), Hybridization, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-generation Sequencing, Microarray, Other Molecular Diagnostics Technologies), Microbiology, Hematology, Coagulation/Hemostasis, Urinalysis, Other IVD technologies], Use [Clinical Use, Research Use Only (RUO), Analyte-specific Reagents (ASRs)], End User [Reference Laboratories, IVD Manufacturers, Academic Institutes and Research Laboratories, Hospital Laboratories].

Based on type, the IVD reagents market is segmented into antibodies, purified proteins and peptides, oligonucleotides, nucleic acid probes, and other reagents. In 2024, the antibodies segment is expected to account for the largest share of 22.1% of the IVD reagents market. The widespread application of antibodies in research and diagnosis due to cost-effectiveness; application in research & immunoassay manufacturing, disease diagnosis, treatment, & protein purification; and rising R&D activities & investments are the factors contributing to the large share of this segment.

Based on technology, the IVD reagents market is segmented into immunoassay/immunochemistry, biochemistry/clinical chemistry, molecular diagnostics, microbiology, hematology, coagulation/hemostasis, urinalysis, and other IVD technologies. In 2024, the immunoassay/immunochemistry segment is expected to account for the largest share of 30.8% of the IVD reagents market. The large share of this segment is mainly attributed to the higher preference for immunodiagnostic tests by practitioners, owing to its high accuracy, inherent specificity, high throughput, high sensitivity, and the emergence of advanced diagnostic immunoassay formats.

Based on the use, the IVD reagents market is segmented into clinical use, research use only (RUO), and analyte-specific reagents (ASR). In 2024, the clinical use segment is expected to account for the largest share of the IVD reagents market. The large share of this segment is mainly attributed to the growing need for the early detection of various epidemic and pandemic infections, the large volume of test samples diagnosed for clinical purposes, and initiatives undertaken by manufacturers to develop advanced IVD reagents.

Based on the end users, the IVD reagents market is segmented into IVD manufacturers, reference laboratories, academic institutes & research laboratories, and hospital laboratories. In 2024, the IVD manufacturers segment is expected to account for the largest share of 35% of the IVD reagents market. The large share of this segment is mainly attributed to the increasing focus on collaborations and expansions to launch IVD reagents. For instance, in May 2023, TechInvention Lifecare Pvt. Ltd. (India) collaborated with Reagent IVD Resources Pvt. Ltd. (India) to manufacture and develop a broad range of diagnostics.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Singapore, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 37.7% of the IVD reagents market, followed by Europe and Asia-Pacific. Furthermore, in 2024, the U.S. is expected to be the largest market shareholder in North America. North America’s major market share is attributed to the highly developed healthcare infrastructure and the presence of major market players such as Thermo Fisher Scientific (U.S.), Becton, Dickinson and Company (U.S.), and Agilent Technologies, Inc. (U.S.).

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Key questions answered in the report:

Which are the high-growth market segments in terms of type, technology, use, end user, and region/country?
What was the historical market size for IVD reagents across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, challenges, and opportunities in the global IVD reagents market?
Who are the major players in the global IVD reagents market?
How is the competitive landscape, and who are the market leaders in the global IVD reagents market?
What are the recent developments in the IVD reagents market?
What strategies are adopted by the major players in the IVD reagents market?
What are the geographical trends and high-growth regions/countries?

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