Companies Earn More than $12 Billion Making Products for In Vitro Diagnostic Companies: Kalorama Report
ROCKVILLE, Md., April 4, 2018 /PRNewswire/ -- Kalorama said that the global contract in vitro diagnostic (IVD) manufacturing segment is valued at more than 12 billion dollars and has nearly 500 competitors. The healthcare market research publisher said the market is also well positioned for long-term growth. Several trends and factors will boost the revenue potential of this business. Contract IVD companies will also derive significant demand from the production of private label and non-branded reagents, test kits, and instruments for medical supply wholesalers and retailers. The finding was made in a recently published market study of contract manufacturing in IVD from Kalorama Information. The report, Contract Manufacturing in IVD: Market Analysis, is available for purchase on Kalorama's website.
"Gains will exceed the average pace of the overall IVD industry as participants in the business shift their strategic focus toward higher value-added products and procedures," said Bruce Carlson, Publisher of Kalorama Information. "Most leading worldwide of producers of proprietary IVD systems will increase their reliance on outside contractors as a cost effective means to expand product lines, broaden manufacturing capacity and capabilities, and serve selected customers."
The range of contract IVD manufacturing activities available globally extends to most types of reagents, instruments, and related accessories. The large-scale production of antigens and monoclonal antibodies for immunoassays has emerged as a major application served by the business. Other IVD products widely supplied by contract manufacturers include blood glucose monitors and test strips, clinical chemistry reagents, chromogenic media, and amplified DNA probes. The business is also a major source of microwells, trays, and other custom packaging systems as well as OEM instrument components such as sensors and microfluidic devices.
Kalorama notes that the advanced, diversified IVD industries of the United States, Western Europe, and Japan, along with the emerging IVD industries of China and India, account for more than 90% of global contract IVD manufacturing revenues. In developed markets, outside contractors are assuming an increasing role in the commercialization and production of both specialty and commodity products for major IVD producers such as Roche Diagnostics and Thermo Fisher Scientific. Contract IVD companies in China, India, and other emerging markets focus on manufacturing high volume reagents, instruments, and OEM components through outsourcing agreements with domestic and foreign-based clients. However, many of these contractors are seeking to diversify into higher value-added applications, including the development of molecular assays.
More than 500 competitors are active in global contract IVD manufacturing markets. Most participants are small- to medium-sized concerns that provide related products or services to other customers. Biokit, Calbiotech, DiaCarta, Fapon Biotech, IDxDI, In Vitro Diagnostic Solutions, InBios International, KMC Systems, LRE Medical, MilliporeSigma, Nova Biomedical, Promega, Randox Laboratories, ReAgent Chemical Services, TCS Biosciences, Tulip Diagnostics, and Ximedica are among the notable companies involved the business.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog on our company website: https://www.kaloramainformation.com/.
212 807 2262
View original content with multimedia: http://www.prnewswire.com/news-releases/companies-earn-more-than-12-billion-making-products-for-in-vitro-diagnostic-companies-kalorama-report-300624240.html
SOURCE Kalorama Information