IVD RAW MATERIALS MARKET ANALYSIS

Regional Analysis

Global IVD Raw Materials Market: Regional Insights

Based on geography, the global IVD raw materials market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the rising incidence of chronic diseases and rapidly growing geriatric population in this region. For instance, in vitro diagnostics can detect diseases or other conditions, and can be used to monitor a persons overall health to help cure, treat, or prevent diseases. As per the Centers for Disease Control and Prevention (CDC), chronic diseases, such as heart disease, cancer, and diabetes, are the leading causes of death and disability in the United States. Six in ten Americans live with at least one chronic disease.

Asia Pacific is also expected to witness robust growth in the global IVD raw materials market due to the increase in prevalence of chronic diseases and rapidly growing and growing geriatric population in this region. For instance, two in every three senior citizens in India suffer from some chronic disease, according to the first Longitudinal Ageing Study in India (LASI) by the Union Ministry of Family and Health Welfare (on January 6, 2020). This in turn is expected to increase demand for IVD raw materials in this region.

Figure 1. Global IVD Raw Materials Market Share (%), by Region, 2021

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa