Owing to Opportunity in Strong Demand for Disease Diagnosis and Preventive Healthcare The in-vitro diagnostics (IVD) raw materials market is estimated to see growth owing to emerging diagnostic applications as well as innovations in point-of-care testing (POCT) devices. The IVD raw materials such as antibodies, oligonucleotide primers, buffers, biological reagents find applications in disease diagnosis, drug discovery & development, and preventive healthcare.

The global in-vitro diagnostics (IVD) raw materials market is estimated to be valued at US$ 27,104.37 million in 2023 and is expected to exhibit a CAGR of 58% over the forecast period between 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The strong demand for disease diagnosis and preventive healthcare presents a major market opportunity for players in the IVD raw materials market. Rising prevalence of chronic and infectious diseases worldwide has accelerated the demand for diagnostic testing. Moreover, growing awareness about early diagnosis is prompting more individuals to undergo regular health checkups. This is expected to fuel the usage of IVD testing kits, thereby boosting the need for raw materials in the IVD ecosystem. With healthcare moving towards more individualized treatment based on advanced diagnostic methods, the consumption of IVD raw materials is projected for significant growth over the forecast period. Key players operating in the IVD raw materials market can capitalize on this opportunity by augmenting their product offerings that help enable faster and efficient disease diagnosis.

Porter's Analysis
Threat of new entrants: The threat of new entrants in the IVD raw materials market is moderate. This is due to the requirement of large capital investments, stringent regulations, and the need for expertise and experience.
Bargaining power of buyers: The bargaining power of buyers in the IVD raw materials market is high. This is due to the availability of raw materials from various suppliers globally.
Bargaining power of suppliers: The bargaining power of suppliers in the IVD raw materials market is moderate. This is because suppliers possess specialized production capabilities and buyers rely on a limited number of suppliers.
Threat of new substitutes: The threat of new substitutes in the IVD raw materials market is low. This is because IVD raw materials have specific chemical properties suitable for in vitro diagnostic applications.
Competitive rivalry: The competition in the IVD raw materials market is intense due to the presence of several global and regional players.

SWOT Analysis
Strength: Growing geriatric population and increasing prevalence of target diseases drive market growth. Manufacturers are focusing on developing innovative products with improved performance.
Weakness: High costs associated with raw materials and stringent regulatory guidelines for approval of IVD kits. Dependence on limited suppliers for specialized raw materials.
Opportunity: Rising R&D spending and healthcare investments in emerging nations present new opportunities. Growing awareness about early disease diagnosis boosts demand.
Threats: Unfavorable changes in reimbursement policies affect product adoption. Volatility in raw material prices impacts manufacturing costs.

Key Takeaways
The Global IVD Raw Materials Market Size is expected to witness high growth during the forecast period of 2023-2030. The global in-vitro diagnostics (IVD) raw materials market is estimated to be valued at US$ 27,104.37 million in 2023 and is expected to exhibit a CAGR of 58% over the forecast period between 2023 to 2030.

Regionally, North America accounted for the largest share of the IVD raw materials market in 2024 due to the growing geriatric population and rising prevalence of chronic diseases in the region. Europe was the second largest market.

Key players operating in the IVD raw materials market include Adherium Limited, AstraZeneca, Boehringer Ingelheim, Cohero Health, GSK, Novartis, and ResMed, among others. Adherium Limited provides sensor systems, airway delivery devices, and adherence monitoring solutions for respiratory medications. AstraZeneca is a global biopharmaceutical company involved in research, development, manufacturing and marketing of prescription medicines.

Get more insights on this topic:
https://www.marketwebjournal.com/ivd-raw-materials-market-demand/