Technavios market research analyst predicts the global in-vitro diagnostics (IVD) packaging market to grow at a CAGR of around 3% between the period of 2016 and 2020. The prospects for growth in this market are driven by the recent increase in diagnostic services and a rise in the incidence and prevalence of chronic diseases and infections. Additionally, the growing practice of self-testing by patients at home is a noteworthy factor that incites market growth during the forecast period.
The significant market growth observed in emerging countries is the key driver for the growth of this market. In recent times, it has been observed that product manufacturers are focusing on emerging economies, such as Brazil, Russia, India, and China (BRIC), to expand their operations. The improvement of the existing healthcare infrastructure in these countries will result in the augmented demand for IVD packaging during the forecast period.
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Product-type segmentation of the in-vitro diagnostics packaging market
* Bottles and vials
* Petri dishes
In this market study, analysts have estimated the bottles and vials segment to be the highest revenue generating segment during the forecast period. The ability of vials and bottles to withstand high temperatures, chemical shocks, and thermal shocks will result in its augmented adoption during the predicted period.
Geographical segmentation of the in-vitro diagnostics packaging market
Technavio market research analysts anticipate the Americas to be the largest market for IVD packaging during the forecast period. Rising aging population and an increase in the number of people with chronic and infectious diseases will bolster the demand for diagnostic products and services, which in turn will foster growth in this market during the estimated period.
Competitive landscape and key vendors
The vendors in this market compete in the complex and challenging medical devices industry, which is subject to frequent changes. To succeed in this market, the vendors need to invest in patent protection as it will help them to augment their revenue generating capacity. Furthermore, to establish themselves in this market, the vendors have to focus on improving their distribution networks rather than marketing their products.
The leading vendors in the market are
* Greiner Bio-One
* Narang Medical
Other prominent vendors in the market include Baidefu, Bellco Glass Crystalgen, Duran Group, Eppendorf, Kimble Chase Life Science, Sarstedt, VITLAB.
Key questions answered in the report include
* What will the market size and the growth rate be in 2020
* What are the key factors driving the global in-vitro diagnostics packaging market
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