Global IVD Contract Manufacturing Market Set to Reach USD 46 Billion by 2034

The global IVD contract manufacturing market is on a strong growth trajectory, with a projected market valuation of USD 14.7 billion in 2024, anticipated to increase to an impressive USD 46 billion by 2034. This growth is driven by a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period.

As the global burden of cancer and infectious diseases rises, the demand for advanced diagnostic tools is escalating, leading to an increased need for IVD contract manufacturing services. This surge is not only responding to the growing prevalence of chronic diseases but is also fueled by the expanding adoption of diagnostic technologies that enable faster and more accurate detection of diseases.

In-vitro diagnostics play a crucial role in diagnosing a wide range of conditions, from cancers to infections, and as healthcare providers seek to expand their diagnostic capabilities, outsourcing to IVD contract manufacturers is becoming an increasingly viable solution. This market growth reflects not just the rising demand for diagnostic tests but also the pivotal role that contract manufacturers play in meeting these demands efficiently and at scale.

With advancements in technology and increasing global healthcare needs, IVD contract manufacturers are poised to deliver high-quality and cost-effective solutions, catering to the growing demand from healthcare providers and diagnostic companies worldwide. The market’s expansion is also supported by regulatory developments and strategic collaborations between IVD manufacturers and contract service providers.

The robust growth prospects in the global IVD contract manufacturing sector represent an exciting opportunity for businesses within the medical diagnostics and contract manufacturing industries. As market dynamics evolve, companies focusing on innovation, quality assurance, and strategic partnerships will likely see substantial success in meeting the rising demand for in-vitro diagnostic solutions.

“The IVD market is growing due to demand for point-of-care testing, molecular diagnostics, and sequencing, which further drives the need for contract manufacturing services.” – comments an FMI analyst.

Key Takeaways:

• The global in-vitro diagnostics (IVD) contract manufacturing market is projected to grow from USD 14.7 billion in 2024 to USD 46 billion by 2034, driven by a CAGR of 12.1%.
• United States: The rise in Point of Care Testing (POCT), fueled by advancements in portable diagnostic technology and the demand for rapid results, is accelerating the growth of IVD contract manufacturing. POCT solutions for blood glucose monitoring, cardiac indicators, and infectious disease testing are key drivers in improving patient outcomes and healthcare efficiency.
• United Kingdom: The National Health Service (NHS)’s focus on enhancing patient outcomes and operational effectiveness is pushing the demand for innovative IVD products. Contract manufacturers are responding by delivering affordable, high-quality diagnostic solutions that meet NHS standards.
• China: The increasing focus on precision medicine is driving the need for advanced diagnostic tests to support targeted treatments. IVD contract manufacturers are essential in developing precision diagnostics that align with China’s expanding healthcare and genomics sector.
• Japan: Recent market liberalization and regulatory reforms are streamlining the licensing process for IVD products. These changes are creating greater opportunities for IVD contract manufacturers to help both domestic and international companies navigate the regulatory landscape and bring innovative products to market.
• South Korea: The growth of smart city projects, particularly in Seoul, is driving the demand for health-tech solutions in urban healthcare. IVD contract manufacturers are integral in providing smart diagnostic tools and data-driven solutions that complement the country’s evolving healthcare ecosystem.

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Market Competition:

To maintain a competitive edge in the global in vitro diagnostic (IVD) contract manufacturing market, industry leaders are focusing on technological advancements, strategic partnerships, and regional expansion. They are also investing in state-of-the-art manufacturing facilities, optimizing supply chain management, and prioritizing rigorous quality control measures to ensure regulatory compliance.

Key players are driving significant progress in the IVD contract manufacturing space, as demonstrated by recent developments such as:

In 2023, Cenegenics entered into a strategic partnership with Cleerly, a company dedicated to eliminating heart attacks by revolutionizing cardiac disease treatment. This collaboration allows Cenegenics to evaluate coronary computed tomography angiography (CCTA) images through Cleerly’s AI-powered platform, enabling healthcare professionals to more efficiently detect, classify, and assess atherosclerosis (plaque buildup) in coronary arteries.

Key Companies Profiled:

• Celestica Inc.
• Cenogenics Corporation
• Cone Bioproducts
• Fujirebio
• Invetech
• Jabil Inc.
• Kimball Electronics, Inc.
• Kmc Systems
• Meridian Biosciences
• Nemera
• Nolato GW Inc.

Key Segments Profiled in the IVD Contract Manufacturing Market:

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
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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