In vitro diagnostic products or raw materials are reagents, instruments, and systems intended for use in the diagnosis of disease or other conditions, including a determination of the health status, in order to cure, mitigate, treat, or prevent disease or its sequelae. The worldwide IVD raw materials market has been expanding quickly because there are so many infectious and chronic diseases, there is a high need for IVD testing and devices, people are getting more cognizant of early disease diagnosis and disease prevention, and there are more high-tech home care kits for cancer diagnostics. But strict product consents and low use of IVD devices are probable to slow market growth.
The global IVD Raw Materials Market is expected to reach at a CAGR of 5.8% between 2022 and 2028.
Key Companies in the IVD Raw Materials Industry:
1. Aalto Bio Reagents
Aalto Bio Reagents was founded in 1978 and is headquartered in Dublin, Ireland. It operated in Brazil, China and Korea, Japan. Aalto Bio Reagents was acquired by Biosynth Carbosynth on May 16, 2022. The transaction's parameters were not disclosed. Aalto Bio Reagents is a provider and developer of biological materials for the in-vitro diagnostic (IVD) and vaccine development industries in the field of emerging diseases. The acquisition expands Biosynth's emerging illness in-vitro diagnostic and vaccine development capabilities.
2. Fapon Biotech
Fapon Biotech is a leading IVD reagent raw materials and one-stop solutions provider, founded in 2001 and is headquartered in Guangdong, China. This is one of the few Chinese companies to penetrate high-end IVD markets in Europe, America and Japan. The sales networks are present in 61 countries and regions across Europe, Americas, Asia, Oceania and Africa. In April 2023, Fapon Biotech Announces Chemiluminescence One-Stop Solution Strategy in India at Medical Fair India 2023.
3. Fujirebio
Fujirebio is a Japanese multinational biotechnology company, founded in 1950 and headquartered in Tokyo, Japan. It has its operations through its offices located in the US, Italy and Russia. In March 2023, AriBio Co., Ltd. and Fujirebio Diagnostics, Inc. announced strategic partnership to advance biomarker development for Alzheimer’s disease and neurodegeneration.
4. Merck KgaA
Merck KgaA The Merck Group, branded and commonly known as Merck,
includes around 250 companies in 180 countries, is a German multinational science and technology company, founded in 1668. The current main parent company of the group, since 1995, is named Merck KGaA. It is headquartered in Darmstadt, Germany. It is present in 66 countries. In October 2022, the global conglomerate said in a statement that it will consider "larger-scale" acquisitions beginning in 2023.
5. F. Hoffmann-La Roche
F. Hoffmann-La Roche commonly known as Roche, is a Swiss multinational healthcare company, founded in 1896 and is headquartered in Basel, Switzerland. It operates in more than 150 countries. In February 2023, Roche announced an expansion of its collaboration with Janssen Biotech Inc. (Janssen) to develop companion diagnostics for targeted therapies, thereby bolstering its research and innovation activities.
6. Thermo Fisher Scientific
Thermo Fisher Scientific is an American supplier of scientific instrumentation, reagents and consumables, and software services, founded in 1956 and is headquartered in Massachusetts, United States. It operates in 50 countries. In January 2023, Thermo Fisher launched its TrueMark infectious disease panels.
Definition: One of the products used in in vitro diagnostics is known as IVD raw materials. Drugs, in vitro reagents, and medical devices are all referred to as IVD. As a subset of medical devices, IVD has certain definitions and regulatory oversight.
