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Global IVD Contract Manufacturing Market to reach USD 33.0 billion by the end of 2030

Global IVD Contract Manufacturing Market Size study & Forecast, by Device Type (IVD Equipment, IVD Consumables), by Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology, Coagulation & Hemostasis, Others), by Service Type (Manufacturing Services, Assay Development Services, Other Services), and Regional Analysis, 2023-2030

Product Code: HLSB-41403595
Publish Date: 10-08-2023
Page: 200

Global IVD Contract Manufacturing Market is valued at approximately USD 13.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2023-2030. IVD contract manufacturing refers to the outsourcing of manufacturing operations for in vitro diagnostic products to specialized contract manufacturers. These contract manufacturers provide a range of services, including product development, production, packaging, quality control, and regulatory compliance. By partnering with contract manufacturers, IVD companies can leverage their expertise, infrastructure, and manufacturing capabilities to streamline operations, reduce costs, ensure regulatory compliance, and meet the growing demand for diagnostic products. The IVD contract manufacturing market offers opportunities for innovation, geographic expansion, and strategic collaborations, while also facing challenges related to regulatory compliance, intellectual property protection, and supply chain management. The driving factors boosting the market growth are the growing IVD Market worldwide and increasing demand for IVD products.

The growing IVD (In Vitro Diagnostics) market is expected to have a positive impact on the IVD contract manufacturing market. As the demand for diagnostic tests and devices increases, IVD companies may seek the expertise and capabilities of contract manufacturers to meet the rising production needs. This surge in demand for contract manufacturing services is likely to drive the growth of the IVD contract manufacturing market, offering specialized manufacturing solutions to IVD companies and supporting the expansion of the overall IVD industry. According to Statista, the global market for in vitro diagnostics (IVD) was valued at around USD 91.2 billion in 2022. It is projected that by 2030, the IVD market is expected to exceed by USD 118 billion, with a compound annual growth rate (CAGR) of 3.2% between 2023 and 2030. In the medical technology industry, the in vitro diagnostics (IVD) segment held the largest share of revenue. In 2021, IVD accounted for more than 18%of the total global revenue in the medical technology industry. Moreover, the globalization of the IVD Market and increasing awareness in developing countries is expected to create abundant opportunities in the market. However, the lack of skilled workforce and high vulnerability to supply chain disruptions stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global IVD Contract Manufacturing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as well-established healthcare infrastructure, high healthcare expenditure, technological advancements, and the strong presence of key market players. Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as increasing population, rising healthcare expenditure, expanding middle class, growing awareness about the benefits of early disease detection and personalized medicine.

Major market player included in this report are:
Jabil, Inc.
Thermo Fisher Scientific Inc.
West Pharmaceutical Services, Inc.
Charles River Laboratories International Inc.
Eurofins Scientific SE
Tecan Group Ltd.
Meridian Bioscience, Inc.
Celestica Inc.
Nipro Corporation
Sekisui Diagnostics LLC
Recent Developments in the Market:
Ø In June 2023, Jabil Inc. launched its new high-performance server platform designed for time-sensitive, low-latency cloud and fintech applications. The Jabil J312-S 1U and JS322-S 2U servers are configured to order and powered by 4th Gen Intel® Xeon dual socket processors. These servers offer customizable options for high-speed, low-latency input/output (I/O), as well as hot-pluggable storage capabilities supporting NVMe, SAS, and SATA technologies. This launch is expected to have a significant impact on the IVD contract manufacturing market, as the advanced server platform equips contract manufacturers with the necessary technology to meet the growing demand for efficient and high-performance IVD solutions.
Ø In May 2023, Thermo Fisher Scientific expanded its drug facility for vaccine manufacture in Singapore. This expansion is expected to have a positive impact on the IVD contract manufacturing market by creating opportunities for collaboration and partnership to support the manufacturing and distribution of vaccines, thus strengthening the overall healthcare industry.

Global IVD Contract Manufacturing Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Device Type, Technology, Service Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Device Type:
IVD Equipment
IVD Consumables

By Technology:
Immunoassay
Clinical Chemistry
Molecular Diagnostics
Microbiology
Hematology
Coagulation & Hemostasis
Others
By Service Type:
Manufacturing Services
Assay Development Services
Other Services

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. IVD Contract Manufacturing Market, by Region, 2020-2030 (USD Billion)
1.2.2. IVD Contract Manufacturing Market, by Device Type, 2020-2030 (USD Billion)
1.2.3. IVD Contract Manufacturing Market, by Technology, 2020-2030 (USD Billion)
1.2.4. IVD Contract Manufacturing Market, by Service Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global IVD Contract Manufacturing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global IVD Contract Manufacturing Market Dynamics
3.1. IVD Contract Manufacturing Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Growing IVD Market worldwide
3.1.1.2. Increasing demand for IVD products
3.1.2. Market Challenges
3.1.2.1. Lack of skilled workforce
3.1.2.2. High vulnerability to supply chain disruptions
3.1.3. Market Opportunities
3.1.3.1. Globalization of the IVD Market
3.1.3.2. Increasing awareness in developing countries
Chapter 4. Global IVD Contract Manufacturing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global IVD Contract Manufacturing Market, by Device Type
5.1. Market Snapshot
5.2. Global IVD Contract Manufacturing Market by Device Type, Performance – Potential Analysis
5.3. Global IVD Contract Manufacturing Market Estimates & Forecasts by Device Type 2020-2030 (USD Billion)
5.4. IVD Contract Manufacturing Market, Sub Segment Analysis
5.4.1. IVD Equipment
5.4.2. IVD Consumables
Chapter 6. Global IVD Contract Manufacturing Market, by Technology
6.1. Market Snapshot
6.2. Global IVD Contract Manufacturing Market by Technology, Performance – Potential Analysis
6.3. Global IVD Contract Manufacturing Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
6.4. IVD Contract Manufacturing Market, Sub Segment Analysis
6.4.1. Immunoassay
6.4.2. Clinical Chemistry
6.4.3. Molecular Diagnostics
6.4.4. Microbiology
6.4.5. Hematology
6.4.6. Coagulation & Hemostasis
6.4.7. Others
Chapter 7. Global IVD Contract Manufacturing Market, by Service Type
7.1. Market Snapshot
7.2. Global IVD Contract Manufacturing Market by Service Type, Performance – Potential Analysis
7.3. Global IVD Contract Manufacturing Market Estimates & Forecasts by Service Type 2020-2030 (USD Billion)
7.4. IVD Contract Manufacturing Market, Sub Segment Analysis
7.4.1. Manufacturing Services
7.4.2. Assay Development Services
7.4.3. Other Services
Chapter 8. Global IVD Contract Manufacturing Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. IVD Contract Manufacturing Market, Regional Market Snapshot
8.4. North America IVD Contract Manufacturing Market
8.4.1. U.S. IVD Contract Manufacturing Market
8.4.1.1. Device Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
8.4.1.3. Service Type breakdown estimates & forecasts, 2020-2030
8.4.2. Canada IVD Contract Manufacturing Market
8.5. Europe IVD Contract Manufacturing Market Snapshot
8.5.1. U.K. IVD Contract Manufacturing Market
8.5.2. Germany IVD Contract Manufacturing Market
8.5.3. France IVD Contract Manufacturing Market
8.5.4. Spain IVD Contract Manufacturing Market
8.5.5. Italy IVD Contract Manufacturing Market
8.5.6. Rest of Europe IVD Contract Manufacturing Market
8.6. Asia-Pacific IVD Contract Manufacturing Market Snapshot
8.6.1. China IVD Contract Manufacturing Market
8.6.2. India IVD Contract Manufacturing Market
8.6.3. Japan IVD Contract Manufacturing Market
8.6.4. Australia IVD Contract Manufacturing Market
8.6.5. South Korea IVD Contract Manufacturing Market
8.6.6. Rest of Asia Pacific IVD Contract Manufacturing Market
8.7. Latin America IVD Contract Manufacturing Market Snapshot
8.7.1. Brazil IVD Contract Manufacturing Market
8.7.2. Mexico IVD Contract Manufacturing Market
8.8. Middle East & Africa IVD Contract Manufacturing Market
8.8.1. Saudi Arabia IVD Contract Manufacturing Market
8.8.2. South Africa IVD Contract Manufacturing Market
8.8.3. Rest of Middle East & Africa IVD Contract Manufacturing Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Jabil, Inc.
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Thermo Fisher Scientific Inc.
9.3.3. West Pharmaceutical Services, Inc.
9.3.4. Charles River Laboratories International Inc.
9.3.5. Eurofins Scientific SE
9.3.6. Tecan Group Ltd.
9.3.7. Meridian Bioscience, Inc.
9.3.8. Celestica Inc.
9.3.9. Nipro Corporation
9.3.10. Sekisui Diagnostics LLC
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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