1 Global IVD Raw Materials Market Size (Revenue) and CAGR (2024-2033)
Global IVD Raw Materials market generated revenue of USD 4107.78 Million in 2024 with a CAGR of 9.54% during 2024 to 2033.
This CAGR of approximately 9.54% indicates a robust growth rate, suggesting that the market will continue to expand significantly over the next year. This growth is expected to be driven by ongoing technological advancements, increased investment in healthcare infrastructure, and the rising demand for rapid and accurate diagnostic solutions.
In conclusion, the global IVD Raw Materials market in 2024 demonstrated strong growth, supported by increasing demand and continuous innovation. With a projected CAGR of 9.54% from 2024 to 2025, the market is poised for further expansion, driven by advancements in diagnostic technologies and the growing health consciousness of the global population.
Figure Global IVD Raw Materials Market Size (M USD) Outlook (2024-2033)
2 IVD Raw Materials Market Trends Analysis
With the continuous development of IVD Raw Materials, manufacturers’ investment in scientific research will continue to increase. With the improvement of the global economy and the increasing concept of health, people’s demand for IVD is increasing, and the demand for IVD Raw Materials will continue to grow.
The level of production and marketing in the Asia-Pacific region will be further improved. The Asia Pacific region is in an important position in the global market. It is expected that the market in the Asia-Pacific region will be further expanded and the production capacity will be further improved. For example, in China, the manufacturing company of IVD Raw Materials is rising and seizing the Chinese market. Fapon’s products include antigens, diagnostic enzymes, antibodies, and other products. The products can be widely used in the fields of immunodiagnosis, biochemical diagnosis, molecular diagnosis, and high-throughput sequencing. Fibonacci products are sold to many countries and regions around the world and entered the high-end markets in Europe, America and Japan. At the same time, the government policies of these countries are also encouraging the development of related companies, which will play a key role in shaping the Asia-Pacific market.
3 Global IVD Raw Materials Market by Type in 2024
The global In Vitro Diagnostic (IVD) Raw Materials market encompasses a diverse range of product types, each serving distinct roles in the diagnostic process. In 2024, the market was segmented into five primary product types: Antibodies, Proteins, Antigens, Viruses, and Others.
Antibodies are immunoglobulin molecules that can specifically bind to target antigens . They are crucial for immunoassays and other diagnostic tests that require high specificity and sensitivity. In 2024, the market value for Antibodies reached $1,204.49 million USD, accounting for approximately 29.32% of the total IVD Raw Materials market. This segment has been a cornerstone of the industry, driven by the increasing demand for precise diagnostic tools, especially in the context of infectious diseases and chronic conditions.
Proteins are essential biomolecules that serve various functions in diagnostic assays, including as markers for diseases or as components of diagnostic kits. The market for Proteins in 2024 stood at $800.22 million USD, representing 19.48% of the total market share. The growth in this segment is attributed to the expanding applications in molecular diagnostics and the need for reliable protein-based markers in disease detection.
Antigens are substances that provoke an immune response and are widely used in diagnostic tests to detect antibodies in patient samples. In 2024, the Antigens market was valued at $1,003.69 million USD, capturing 24.43% of the total market. This segment’s growth is closely tied to the increasing prevalence of infectious diseases and the need for rapid diagnostic solutions, especially in the wake of global health crises like COVID-19.
Viruses refer to viral components or materials used in diagnostic assays, particularly for detecting viral infections. The Viruses segment had a market value of $184.16 million USD in 2024, contributing 4.48% to the total market. While this segment is relatively smaller, its importance has grown significantly due to the ongoing need for viral diagnostic tools, especially in the context of emerging infectious diseases.
Among these product types, Antigens held the largest market share in 2024, driven by the high demand for diagnostic tests targeting infectious diseases. However, Antibodies exhibited the fastest growth rate, reflecting their critical role in advanced diagnostic techniques and the continuous development of new antibody-based assays. The market dynamics highlight the evolving needs of the IVD industry, with both Antigens and Antibodies playing pivotal roles in shaping the future of diagnostic raw materials.
Table Global IVD Raw Materials Market Size and Share by Type in 2024
Product Type | Market Size (M USD) | Market Share (%) |
|---|---|---|
Antibodies | 1,204.49 | 29.32 |
Proteins | 800.22 | 19.48 |
Antigens | 1,003.69 | 24.44 |
Viruses | 184.16 | 4.48 |
Others | 915.21 | 22.28 |
4 Global IVD Raw Materials Market by Application in 2024
The applications of IVD Raw Materials span various sectors within the healthcare and diagnostic industries, each with distinct definitions and market sizes. In 2024, the market was segmented into four primary applications: Pharmaceutical Companies, Laboratories, Hospitals, and Others.
Pharmaceutical Companies utilize IVD raw materials in the development and validation of diagnostic tests, as well as in research and development activities. In 2024, this segment had a market value of $3,345.56 million USD, representing 81.44% of the total IVD Raw Materials market. The dominance of this segment is attributed to the extensive use of diagnostic tools in drug development processes and the growing collaboration between pharmaceutical companies and diagnostic manufacturers.
Laboratories are key consumers of IVD raw materials, using them for routine testing, research, and quality control. The Laboratories segment had a market value of $321.76 million USD in 2024, accounting for 7.83% of the total market. The growth in this segment is driven by the increasing volume of diagnostic tests performed in clinical and research laboratories worldwide.
Hospitals also play a significant role in the IVD Raw Materials market, using these materials for in-house diagnostic testing and patient care. In 2024, the Hospitals segment was valued at $272.01 million USD, contributing 6.62% to the total market. The demand from hospitals is primarily driven by the need for rapid and accurate diagnostic results to support patient treatment decisions.
Among these applications, Pharmaceutical Companies held the largest market share in 2024, driven by their extensive use of diagnostic tools in drug development and research activities. However, the Laboratories segment exhibited the fastest growth rate, reflecting the increasing demand for diagnostic testing and the expansion of laboratory services globally. The market dynamics highlight the critical role of pharmaceutical companies in driving the demand for IVD raw materials, while laboratories continue to be a significant growth driver in the industry.
Table Global IVD Raw Materials Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share (%) |
|---|---|---|
Pharmaceutical Companies | 3,345.56 | 81.44 |
Laboratories | 321.76 | 7.83 |
Hospitals | 272.01 | 6.62 |
Others | 168.45 | 4.10 |
5 Global IVD Raw Materials Market by Region in 2024
The global In Vitro Diagnostic (IVD) Raw Materials market is highly diverse, with significant contributions from various regions across the world. In 2024, the market was segmented into five major regions: North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
North America has traditionally been a dominant player in the IVD Raw Materials market, driven by its robust healthcare infrastructure, advanced technological capabilities, and high demand for precision diagnostics. In 2024, the region’s market value reached $1422.26 million USD, accounting for approximately 34.62% of the global market share. The United States, in particular, contributed significantly to this figure, with a strong presence of leading IVD companies and a focus on research and development.
Europe also played a crucial role in the global market, with a market value of $1253.97 million USD in 2024, representing 30.53% of the total market share. European countries, such as Germany, the UK, and France, have been at the forefront of diagnostic innovation, supported by stringent regulatory frameworks and a high demand for quality healthcare services. The region’s growth was driven by increasing investments in healthcare infrastructure and the continuous development of advanced diagnostic technologies.
Asia-Pacific emerged as a significant growth driver in the IVD Raw Materials market. With a market value of $1100.73 million USD in 2024, the region accounted for 26.80% of the global market share. The rapid economic growth, increasing healthcare expenditure, and the rising prevalence of chronic diseases in countries like China, Japan, and India have fueled the demand for IVD raw materials. Additionally, the region’s growing focus on healthcare innovation and the expansion of diagnostic capabilities have positioned it as a key market for future growth.
Middle East and Africa had a market value of $157.32 million USD in 2024, contributing 3.83% to the global market share. The region’s growth was driven by increasing healthcare awareness, government investments in healthcare infrastructure, and the rising demand for diagnostic solutions to combat infectious diseases. Countries like Saudi Arabia and the UAE played a pivotal role in driving the market’s expansion.
South America had a market value of $ 157.32 million USD in 2024, representing 4.22% of the global market share. The region’s growth was supported by increasing healthcare expenditure and the expansion of diagnostic capabilities, particularly in countries like Brazil and Argentina. Despite economic challenges, South America’s focus on improving healthcare outcomes has positioned it as a growing market for IVD raw materials.
Among these regions, North America had the largest market share by revenue in 2024, driven by its advanced healthcare infrastructure and high demand for precision diagnostics. However, the Asia-Pacific region exhibited the fastest growth rate, reflecting its rapid economic development, increasing healthcare expenditure, and the rising prevalence of chronic diseases. The region’s focus on healthcare innovation and the expansion of diagnostic capabilities further solidified its position as a key growth driver in the global IVD Raw Materials market.
Table Global IVD Raw Materials Market Size, Region Wise in 2024
Region | Market Size (M USD) | Market Share (%) |
|---|---|---|
North America | 1422.26 | 34.62% |
Europe | 1253.97 | 30.53% |
Asia-Pacific | 1100.73 | 26.80% |
Middle East & Africa | 157.32 | 3.83% |
South America | 173.50 | 4.22% |
Figure Global IVD Raw Materials Market Share, Region Wise in 2024
6 Global IVD Raw Materials Market Top 3 Players
Roche Diagnostics International Ltd is a global leader in the development and manufacturing of medical and diagnostic products. Established in 1969 and headquartered in Switzerland, Roche offers a comprehensive range of products, including self-monitoring systems, applications for critical-care, cardiovascular, liver diseases, cancer, and tuberculosis. In 2020, Roche’s revenue in the IVD Raw Materials market reached $372.31 million USD. The company’s strong presence in the market is attributed to its continuous investment in research and development, as well as its focus on providing high-quality diagnostic solutions.
Thermo Fisher Scientific, headquartered in the United States, is another major player in the IVD Raw Materials market. Established in 2006, Thermo Fisher offers a wide range of scientific instruments, consumables, and chemicals. The company’s product portfolio includes analytical instruments, laboratory equipment, software, services, reagents, and supplies for pharmaceutical and biotech companies, hospitals, clinical diagnostic labs, universities, research institutions, and government agencies. In 2020, Thermo Fisher Scientific’s revenue in the IVD Raw Materials market was $215.00 million USD. The company’s growth is driven by its innovative technologies and strategic acquisitions, which have expanded its product offerings and market reach.
Meridian, headquartered in the United States, is a leading manufacturer of diagnostic test kits, purified reagents, and related products. Established in 1977, Meridian specializes in gastrointestinal and upper respiratory infections, serology, parasitology, and fungal disease diagnosis. The company’s product portfolio includes antigens, antibodies, blockers, dNTPs, PCR enzymes, and mixes for diagnostic applications. In 2020, Meridian’s revenue in the IVD Raw Materials market reached $91.81 million USD. Meridian’s success is attributed to its focus on specialized diagnostic solutions and its ability to meet the evolving needs of the healthcare industry.
Table Global IVD Raw Materials Revenue Share of Top3 Players in 2020
Company | 2020 |
Roche Diagnostics International Ltd | 12.41% |
Thermo Fisher Scientific | 7.16% |
Meridian | 3.06% |