Harrisburg, NC -- (SBWIRE) -- 10/02/2020 -- The In-vitro Diagnostics (IVD) Packaging Market Research Report 2020 to 2025 presents an in-depth assessment of the Station In-vitro Diagnostics (IVD) Packaging It provides the industry overview with market growth analysis with a historical & futuristic perspective considering the following parameters; cost, revenue, demands, and supply data (as applicable). The bottom-up approach was used to estimate the global market size of Station In-vitro Diagnostics (IVD) Packaging based on end-use applications in the various regions, in terms of USD million. The report covers the historic growth of the market, the impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for In-vitro Diagnostics (IVD) Packaging investments from 2020 to 2026.
Top Companies in the Global In-vitro Diagnostics (IVD) Packaging Market
Bio-Rad Laboratories, Inc. (NYSE: BIO), Corning Incorporated (NYSE: GLW), Narang Medical, Amcor, Gbf, Duran, Wheaton Industries, WS Packaging, Sarstedt, among others.
The In-vitro Diagnostics (IVD) Packaging market was valued at USD 7.22 billion in 2019 and is expected to reach USD 9.52 billion by 2025, at a CAGR of 4.5% over the forecast period 2020- 2025.
Market Overview:
The rapidly rising practice of self-testing by the people, an increasing number of point-of-care testing, increased government expenditures on healthcare, growing awareness of personalized medicine, and the increasing number of chronic diseases are some of the major factors boosting the growth of the in vitro diagnostics (IVD) packaging market. The importance of IVD packaging is increasing in the healthcare sector owing to the demand for faster diagnosis time and increased volume of samples obtained by the automation devices. This has resulted in the increased usage of IVD devices in hospitals. Other contributing factors boosting the growth of the market include the pressure from the governments and industries across the globe, to comply with the set regulations, due to the increasing demand for integrated healthcare systems. For instance, the FDA uses a risk-based regulatory scheme for medical devices (including IVDs).
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Market Insights:
As the hospitals and laboratories are some of the major consumers of in vitro diagnostic devices, the increasing revenues of these sectors are also expected to develop the market for IVD packaging across the globe. With the shift from the legacy systems to the commercial solutions favored by the laboratories, the market is expected to grow further as they provide a flexible and reliable method to manage data, resources, and workflows. Many governments across the globe are also regulating policies for laboratories having IVDs. For instance, in May 2018, Australias Therapeutic Goods Administration (TGA) unveiled guidance for laboratories to meet in vitro diagnostics (IVD) regulatory requirements.
The Chinese government is increasing there healthcare expenditure primarily to focus on public health. With the increasing number of hospitals in China, it is justifying their investment in public health initiative, which is driving the market in this region. Moreover, Japan has faced the challenges of a shrinking and aging population for several years. The latest population estimate by the Health, Labor, and Welfare Ministry, released in December 2018, points to the rapid decline of Japan's population with fewer births. The number of babies born in the country, in 2018, is estimated at 921,000, which is 25,000 less than the previous year and falling short of 1 million for the third year in a row. These circumstances in the country have accelerated healthcare spending in the region. India is also considered as a lucrative market for generic R&D activities and manufacturing of pharmaceuticals, owing to its strong capabilities across the value chain. Moreover, India's competitive advantage also resides in the magnified success rate of Indian companies in getting the Abbreviated New Drug Application (ANDA) approvals, which is boosting the market growth.
Competitive Landscape
-June 2019 - Amcor announced the successful completion of its acquisition of Bemis Company Inc. The combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis brings additional scale, capabilities, and footprint that will strengthen Amcors industry-leading value proposition
The In-vitro Diagnostics (IVD) Packaging market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global In-vitro Diagnostics (IVD) Packaging Market based on Types are:
Bottles
Vials
Tubes
Closures
Others
Based on Application, the Global In-vitro Diagnostics (IVD) Packaging Market is Segmented into:
Hospitals
Laboratories
Academic Institutes
Patient Self-Testing
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Regions Are covered By In-vitro Diagnostics (IVD) Packaging Market Report 2020 To 2025.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of In-vitro Diagnostics (IVD) Packaging Market
-Changing In-vitro Diagnostics (IVD) Packaging market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected In-vitro Diagnostics (IVD) Packaging market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of In-vitro Diagnostics (IVD) Packaging Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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The report has 150 tables and figures browse the report description and TOC
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All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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