Global IVD Contract Manufacturing Market

IVD Contract Manufacturing Market Size, Share, Growth Analysis, By Product Type (Consumables, Equipment), By Technology (Immunoassays, Clinical Chemistry), By Service Type (Manufacturing Services, Assay Development), By Region -Industry Forecast 2024-2031.

Report ID: SQMIG35H2317 | Region: Global | Published Date: November, 2024
Pages: 194 | Tables: 92 | Figures: 67

IVD Contract Manufacturing Market News

  • In May 2023, Significant organization formed between two new biotech companies, Reagent IVD Assets Pvt. Ltd. Ltd. (RIVDR), based in Jaipur and involved in diagnostic research, and TechInvention Lifecare Pvt. Ltd., of Mumbai, to manufacture and supply various diagnostics. Offering life sciences laboratory and in-vitro diagnostics (IVD), RIVDR is a contract manufacturer to provide creative integrated responses to the rapidly growing market.
  • In November 2022, launch of biotechnology emphasizing diagnostics, reagent IVD Assets Pvt. Ltd (RIVDR), based in Jaipur, and Mumbai-based biotech firefighter. TechInvention Lifecare Pvt. Ltd., was actively involved in the development and distribution of a wide range of the diagnostic drugs.
  • In July 2023, Cenegenix introduced a partnership with Cleerly, an agency that targets to get rid of the coronary heart disorder by means of growing a brand-new paradigm for treating coronary heart ailment.
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Global IVD Contract Manufacturing Market size was valued at USD 14.80 billion in 2022 and is poised to grow from USD 16.52 billion in 2023 to USD 39.74 billion by 2031, growing at a CAGR of 11.60% during the forecast period (2024-2031).

The global IVD contract manufacturing market is highly competitive, driven by a mix of established players, key service providers and emerging companies. Increasing demand for advanced diagnostic, regulatory solutions challenges and technological advances have shaped this competitive landscape. Companies compete based on their ability to offer innovative, cost-effective solutions while complying with stringent regulatory requirements. Jabil is a leading contract manufacturer in the market, offering a wide range of business services including manufacturing, assembly and compliance. 'Jabil Inc.  ', ' Sanmina Corporation  ', ' TE Connectivity  ', ' Celestica, Inc.  ', ' West Pharmaceutical Services, Inc.  ', ' Savyon Diagnostics, Ltd.  ', ' KMC Systems  ', ' Cenogenics Corporation  ', ' Nova Biomedical  ', ' Cone Bioproducts  ', ' Kimball Electronics, Inc.  ', 'Roche Diagnostics  ', ' Viant Medical Holdings, Inc.  ', 'Sysmex Corporation  ', ' Stratec Se  ', ' Thermo Fisher Scientific, Inc.  ', ' Fujirebio  ', ' Biokit (Werfen)  ', ' Sekisui  ', ' Prestige Diagnostics'

Increasing incidence of chronic diseases such as diabetes, cancer and heart disease is driving the need for advanced In Vitro Diagnostics (IVD) devices This demand has fueled the growth of the IVD contract manufacturing market, period whose manufacturers seek to increase productivity to address global health challenges. Contractors play a key role in providing cost-effective, quality solutions to IVD companies to help them meet rigorous regulatory standards.

Outsourcing to Emerging Markets: A developing trend inside the marketplace is outsourcing products to emerging markets, particularly in Asia-Pacific. Many groups are shifting to these regions due to the lower labor costs, increasing manufacturing strains and skilled personnel. This trend enables manufacturers to cut expenses and tap into the growing market.

North America, especially the US, is an important part of the IVD contract manufacturing market. The dominance of this segment can be attributed to advanced healthcare, well-established diagnostic companies and appropriate regulatory framework. Companies in North America are leading the adoption of cutting-edge technology with molecular diagnostics and personalized medicine along with atom, which significantly strengthens the market. North America emerged as the dominant region in the global IVD contract manufacturing market in 2023. North America boasts a well-developed healthcare infrastructure, including advanced medical facilities, research institutes and regulatory framework. The region is a hub for technological innovation and research in the health and life sciences industries.

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Global IVD Contract Manufacturing Market

Report ID: SQMIG35H2317

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