In Vitro Diagnostics

Bio-Rad Laboratories, Inc. (US) and Thermo Fisher Scientific, Inc. (US) are leading players in In Vitro Diagnostics (IVD) Quality Control Market

The IVD quality control market is dominated by are Bio-Rad Laboratories, Inc. (US), Randox Laboratories Ltd. (UK), Thermo Fisher Scientific, Inc. (US), LGC Limited (UK), and Abbott Laboratories (US).

The global IVD quality control market is projected to reach USD 1.4 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.3% during the forecast period. IVD testing plays a significant role in clinical decision-making. The growth of the IVD quality control market is primarily driven by the rising number of accredited clinical laboratories, rising geriatric population, rising demand for external quality assessment programs, coincreasing adoption of and POC instruments in developed regions and increasing adoption of third-party quality controls. The rising focus on multi-analyte controls is also expected to offer significant growth opportunities for the market in the coming years. The use of quality control products is, however, not mandatory for all clinical laboratories in many countries. The lack of regulations for these products is expected to adversely affect the market growth

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Bio-Rad Laboratories, Inc. holds the leading position in the IVD quality control market. The company provides innovative quality control products and services. It also offers a range of third-party quality controls, data management solutions, and external quality assurance services for hospital laboratories, reference laboratories, transfusion laboratories, and physician office laboratories. Under its leading brands, such as Lyphochek and Liquichek, the company offers various IVD quality controls to customers globally. The company is expected to sustain its leading market position in the coming years owing to its strong product portfolio, geographic presence, and brand name in the global market. Its market leadership can also be attributed to its strong distribution and subsidiary network across the globe, enabling it to serve customers in North America, Europe, and the Asia Pacific. Bio-Rad Laboratories has direct distribution channels in over 35 countries outside the US through subsidiaries, and they focus on sales, customer service, and product distribution.

Thermo Fisher Scientific, Inc. holds the second position in the global IVD quality control market. The company is a leading provider of IVD quality control products and services. The company offers a robust portfolio of quality controls for clinical chemistry, molecular control, microbiology, serology, serum toxicology testing, specimen validity testing, and therapeutic drug monitoring (TDM). With its strong geographic presence and wide distribution networks, the company has established itself as a leader in the global IVD quality control market. To sustain its leading position and further increase its share in the market, the company focuses on organic and inorganic growth strategies.

Thermo Fisher assisted with the pandemic response by quickly developing the Applied Biosystems TaqPath COVID-19 Combo Kit. This kit was granted emergency use authorization in the US in March 2020, followed by similar authorizations worldwide. The company launched the Thermo Fisher Scientific COVID-19 product line, which greatly increased its inventory of COVID-19-related items. The company expanded its portfolio of COVID-19-related products, launching the Thermo Fisher Scientific Amplitude Solution for high-throughput PCR-based testing and the Applied Biosystems TaqCheck PCR test for asymptomatic health surveillance. USD 1.20 billion was invested in R&D to deliver newer technologies by creating reliable and innovative products.

Globally, Randox Laboratories Ltd. holds the third position in the IVD quality control market. The company has more than 30 years of experience in developing laboratory quality controls for the in vitro diagnostics market. It is one of the largest manufacturers of true third-party quality control solutions. The company delivers reliable and high-quality products designed to assess the performance of instruments accurately. The company’s quality control portfolio includes Acusera true third-party quality controls, Acusera 24.7 Live Online, Interlaboratory Data Management Software, RIQAS, and Acusera Verify. The company provides liquid and lyophilized quality control products to over 47,000 clinical laboratories globally and sells products in over 145 countries. It focuses on R&D for product development.

Related Reports:

In Vitro Diagnostics (IVD) Quality Control Market by Source (Plasma, Whole Blood, Urine), Technology (Immunoassay, Hematology, Microbiology, Molecular Diagnostics), Manufacturer (Third-party, OEM), End Users (Hospitals, Lab) - Global Forecast to 2026

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Report Code
MD 4180
RI Published ON
9/3/2021
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