IVD Contract Manufacturing Market by Device Type (Consumables, Equipment), Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology, Coagulation), Service (Manufacturing, Assay Development) - Global Forecast to 2028

IVD Contract Manufacturing Market by Device Type (Consumables, Equipment), Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology, Coagulation), Service (Manufacturing, Assay Development) - Global Forecast to 2028

The global IVD contract manufacturing market is projected to reach USD 25.5 billion by 2028 from USD 15.0 billion in 2023, at a CAGR of 11.2% during the forecast period. The high cost associated with in-house manufactured IVD products, the adoption of new technology to develop efficient products by IVD contract manufacturers, and the increased need to outsource manufacturing to CMOs by large manufacturers to reduce the manufacturing burden and focus on the development of newer technology.

There has been increased manufacturing activities and development by CMOs of advanced technological equipments to compete in this highly fragmented market and strengthen its position.

“IVD Equipment segment accounted for a larger share of the IVD contract manufacturing market”

In 2022, the IVD equipment segment accounted for a larger share of the IVD contract manufacturing market. This segment is also estimated to grow at a stable CAGR during the forecast period. Growth in this segment can primarily be attributed to the increasing volume of IVD tests performed globally and need burst of molecular test equipment post the Covid-19 pandemic.

“The molecular diagnostic segment will grow at highest CAGR during the forecast period”

Based on technology, the molecular diagnostic segment will grow at highest CAGR during the forecast period. Growth in this segment can primarily be attributed to the rising prevalence of infectious diseases, cancer, and various genetic disorders, increasing applications of molecular diagnostic technologies in pharmacogenetics and point-of-care testing. Moreover, the increasing awareness and acceptance of personalized medicine, technological advancements, and the growing application of MDx in hereditary disease testing & prenatal testing is also likely to influence the market growth. The growing use of PCR in proteomics and genomics, automation of instruments, and the emergence of advanced technologies such as qRT-PCR is also likely to support the growth of the market”

“Asia Pacific will grow at highest CAGR during the forecast period”

In 2022, Asia Pacific will grow at highest CAGR during the forecast period. Major factors driving the growth of this market are the presence of large numebr of conntract manufacturers, the rise in number of CMOs in China and India at an exobidantly high rate, the manufacturing capabilites and effienciency of the development plants in this region, ease of supply chain logistics, and cost controlled production of high quality equipments.

The break-up of the profile of primary participants in the IVD contract manufacturing market:

By Company Type: Tier 1 – 34%, Tier 2 – 38%, and Tier 3 – 28%

By Designation: C Level – 26%, Director Level – 35%, Others-39%

By Region: Asia Pacific – 39%, North America – 28%, Europe –17%, Latin America – 9%

Middle East – 7%

The prominent players in the IVD contract manufacturing market include Jabil Inc. (US), Sanmina Corporation (US), TE Connectivity (Switzerland), Celestica Inc.(Canada),Thermofisher (US) Savyon Diagnostics (Israel),

Research Coverage:

The report analyzes the IVD contract manufacturing market and aims at estimating the market size and future growth potential of this market based on various segments such as device type, technology, service and region. The report also includes a product portfolio matrix of various IVD contract manufactured equipment or consumables available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Reasons to Buy the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IVD contract manufacturing market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report provides insights into the following pointers:

Analysis of key drivers (high cost effective manufacturing of high technological and patented technology), restraints (risk to OEMs intellectual property and quality control), opportunities (high growth in developing countries), and challenges (shortage of skilled labour) influencing the growth of the IVD contract manufacturing market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the IVD contract manufacturing market

Market Development: Comprehensive information on the lucrative emerging markets by type, application, end user and region.

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global IVD contract manufacturing market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players like Jabil Inc. (US), Sanmina Corporation (US), TE Connectivity (Switzerland), Celestica Inc.(Canada), Savyon Diagnostics (Israel), Thermofisher (US) in the global IVD contract manufacturing market.