Diagnostic Reagents Market (Product Type: Chromatography Reagents, Molecular Diagnostic Reagents, Immunoassay Reagents, Clinical Chemistry Reagents, Flow Cytometry Reagents, Cell & Tissue Culture Reagents, Hematology & Hemostasis Reagents, Microbiology Reagents, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Diagnostic Reagents market was valued at USD 45.18 billion in 2021 and it is expected to hit around USD 87.4 billion by 2030 with a CAGR of 7.5% during the forecast period 2022 to 2030.

Diagnostics are the mainstay of detection, diagnosis, and assessment of any type of disease. More than 60% to 70% of medical decisions regarding disease treatment, management, and prevention are based on diagnostics. Diagnostics play a key role in preventive healthcare.

Diagnostics deliver information that can benefit patients by enabling the selection of the right treatment. They enable health professionals to choose appropriate preventive interventions and provide vital prognostic data that can optimize care pathways and management. In diagnostic testing, diagnostic reagents play a major role in medical labs, helping produce test results through diagnostic testing assays. Clinical diagnostic reagents are the most basic reagents. They use one or two reagent systems. These could be used for various tests including measuring serum albumin concentrations.

Report Scope of the Diagnostic Reagents Market

High Prevalence and Increase in Incidence of Chronic Infectious Diseases to Boost Demand for Diagnostics

Diagnosis of infectious and chronic diseases is one of the leading applications of in vitro diagnostics reagents. Diagnostic reagents (both biological and chemical reagents) are an integral and vital part of any diagnostic test. Emergence and outbreak of various infectious diseases have created challenges and new opportunities for researchers to develop new diagnostic tools and tests for early diagnosis and prevention of diseases, and IVD reagents play a crucial role in it.

On March 11, 2020, the WHO declared the novel coronavirus (COVID-19) outbreak a global pandemic. Outbreak of new diseases such as COVID 19 and rise in demand for quick and better diagnosis of infectious diseases through in vitro diagnostics are likely to boost the demand for diagnostic reagents, especially IVD reagents, in the market.

Lack of Development of Good Quality Reagents to Affect Small Players

Laboratory development test could become more common as we move toward new technologies and new approaches to clinical testing such as mass spectrometry. Researchers have characterized the effects of poor quality reagents in development of tests for diagnosis of diseases. Here, the importance of being able to trust the quality of reagents is amplified significantly.

Even within regulated markets, we cannot always be sure of ongoing quality; a quick search of the U.S. FDA Medical Device Recalls database shows multiple reagent recalls every year. This makes the pathway of small-scale diagnostic reagent manufacturers quite different to maintain the strict regulatory quality for reagents in the diagnostic reagents facility due to requirement of large capital investment to maintain the stock. Hence, they are unable to cater to the big diagnostic players who always look for good quality reagents.

Availability of Advanced Diagnostic Services Driving Hospitals & Diagnostic Laboratories Segment

In terms of end-user, the global diagnostic reagents market has been divided into hospitals & diagnostic laboratories, academic & research institutes, and others. Rise in number of hospitals with diagnostic labs in developing countries, increase in patient preference to visit hospitals for reimbursement facilities, availability of advanced diagnostic services, and ability to perform various types of tests are expected to drive the hospitals & diagnostic laboratories segment during the forecast period. As of February 2019, there were a total of 33,000 hospitals in China, an increase of 1,866 compared to the same period in 2018.

Regional Outlook of Global Diagnostic Reagents Market

North America accounted for a prominent share of the global diagnostic reagents market in 2021. The trend is projected to continue during the forecast period due to the rise in healthcare care spending for prevention of diseases, adoption of quick innovative tests, and high degree of awareness about routine tests to maintain healthy life in the region.

The diagnostic reagents market in Asia Pacific is anticipated to grow at a high CAGR from 2022 to 2030. This can be ascribed to the increase in popularity of molecular test over traditional tests such as microbiology test, surge in incidence of lifestyle-related & chronic illnesses, and technical developments in countries such as India, Indonesia, Thailand, and South Korea.

Some of the prominent players in the Diagnostic Reagents Market include:

• Abbott Laboratories
• F. Hoffmann-La Roche AG
• Becton, Dickinson and Company
• Siemens Healthineers
• Sysmex Corporation
• DiaSorin S.p.A.
• bioMerieux SA
• Ortho Clinical Diagnostics
• Thermo Fisher Scientific, Inc.
• Agilent Technologies, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Diagnostic Reagents market

• Product Type
• Chromatography Reagents
• Molecular Diagnostic Reagents
• Immunoassay Reagents
• Clinical Chemistry Reagents
• Flow Cytometry Reagents
• Cell & Tissue Culture Reagents
• Hematology & Hemostasis Reagents
• Microbiology Reagents
• Others
• End-user
• Hospitals & Diagnostics Laboratories
• Academic & Research Institutes
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Diagnostic Reagents industry analysis from 2022 to 2030 to identify the prevailing Diagnostic Reagents industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Diagnostic Reagents industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Diagnostic Reagents industry trends, key players, market segments, application areas, and market growth strategies.