Global IVD Contract Manufacturing Services Market Expected to Grow and Reach a Revenue of USD 20.47 Billion in 2028

In-vitro diagnostics (IVDs) tests can detect disease, conditions, and infections and are typically conducted in test tubes and similar equipment. In vitro tests can be done in health care facilities, laboratories, or even at home. The tests are performed with the use of a variety of instruments ranging from small, handheld tests to difficult and complicated laboratory instruments. With the use of these devices, doctors can effectively diagnose patients and are able to provide appropriate treatments. In the case of low- and middle-income countries, there is a lack of an integrated network of laboratories that are used for diagnosis however; a broad set of IVDs can be made available for testing patients in the primary care setting where laboratories are not present. Further, the contract manufacturing services many companies can save costs, maximize their resources, and pay for the upkeep of expensive equipment. The services provided with contract manufacturing include contract machining, contract assembly, and subcontracting.

The increasing prevalence of chronic and infectious diseases along with the rising geriatric population is anticipated to augment the growth of the IVD Contract Manufacturing Services Market during the estimated timeframe. According to the Centers for Disease Control and Prevention, in 2020, the number of deaths in the United States due to Influenza and pneumoniawas estimated to be 53,544. Almost 52.5% of children aged between 6 months to 17 years, 36.3% of adults aged 18-34, 50.3% of adults aged between 50-64 years, and 70.8% of adults aged 65 and over received an influenza vaccination in 2020. As seen from the statistics, elder people are more prone to such diseases and as the elder population is increasing the demand for IVD contract manufacturing is also increasing. Additionally, increased focus on high-volume production using 3D printing and smart manufacturing with the integration of Industry 4.0 is also expected to support the growth of the market in the years to come.

However, the unfavorable reimbursement scenario, changing regulatory landscape along operational barriers faced in conducting diagnostic tests is expected to hinder the growth of the market in near future. Moreover, the increase in the adoption of fully automated and POC instruments in developed regions will further support the growth of the market. Additionally, growing awareness regarding disease diagnosis in developing regions is also likely to create immense opportunities for 3D printers during the estimated timeframe.

Asia Pacific held the largest market share in 2021. This is attributable to the rising disease prevalence and increased consumer awareness in the region. Furthermore, the local presence of major market players is also likely to support the regional growth of the market. Additionally, the high investments and rising focus on PoC devices are also expected to support the growth of the market in near future.

Some of the prominent players operating in the GlobalIVD Contract Manufacturing Services Market include Biocon Ltd. (India), Becton Dickinson and Company (U.S.), Cepheid Inc. (U.S.), F Hoffmann-La Roche Ltd. (Switzerland), and Siemens Healthcare GmbH (Germany)..