In-vitro Diagnostics (IVD) Packaging market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
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.
The In-vitro Diagnostics (IVD) Packaging market is highly competitive and consists of a number of major players: Amcor Limited, Aptargroup Incorporated, Corning Incorporated, Greiner Holding AG, Thermo Fisher Scientific Incorporated, COMAR, LLC., WS Packaging Group, DWK Life Sciences and Others
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Scope of the Report
In vitro diagnostics are tests done on samples such as blood or tissue that are taken from the human body. In vitro diagnostics can detect diseases or other conditions, and can also be used to monitor a persons overall health to help cure, treat, or prevent diseases.
Key Market Trends
Laboratories Segment to Witness High Growth
– 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.
– Moreover, the ongoing shift towards personalized medical devices is expected to create a demand for IVD devices. Also, the innovations in IVD devices are likely to accelerate the demand for IVD packaging during the forecast period.
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Asia-Pacific to Witness High Growth
– 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 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 Japans 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.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: In-vitro Diagnostics (IVD) Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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