Report : Asia-Pacific IVD Contract Research Organization Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Clinical Chemistry, Molecular Diagnostics, Immunochemistry, Companion Diagnostics, Hematology, Histology and Cytology, Microbiology, and Others), and Services (Clinical Research, Biostatistics and Data Management Services, Therapeutic Expertise, Regulatory Services, Reimbursement Services, Assay Development Services, and Others)
Biostatistics and Data Management Services Segment to Dominate Asia-Pacific IVD Contract Research Organization Market during 2019–2028
According to a new market research study on “Asia-Pacific IVD Contract Research Organization Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Services,” is expected to reach US$ 1,621.14 million by 2028 from US$ 921.51 million in 2021. The market is estimated to grow at a CAGR of 8.4% from 2021 to 2028. Increase in point-of-care testing and potential opportunities from developing economies is the major factor driving the growth of the Asia-Pacific IVD contract research organization market. However, stringent government policies and lack of skilled workforce may hinder the growth of Asia-Pacific IVD contract research organization market. The report provides trends prevailing in the Asia-Pacific IVD contract research organization market along with the drivers and restraints pertaining to the market growth.
The Asia-Pacific IVD contract research organization market is segmented into type, services, and country. The Asia-Pacific IVD contract research organization market, by type, is segmented into clinical chemistry, molecular diagnostics, immunochemistry, companion diagnostics, hematology, histology and cytology, microbiology, and others. The clinical chemistry segment held the largest share of the market in 2020. The Asia-Pacific IVD contract research organization market, by services, is segmented into clinical research, biostatistics and data management services, therapeutic expertise, regulatory services, reimbursement services, assay development services, and others. The biostatistics and data management services segment held the largest share of the market in 2020. Similarly, based on country, the Asia-Pacific IVD contract research organization market is segmented into China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific. China contributed a substantial share in 2020.
Clinexa; CMIC HOLDINGS CO., LTD; ICON PLC; NAMSA; and Proxima Clinical Research, Inc. are among the leading companies in the Asia-Pacific IVD contract research organization market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Icon Plc acquired PRA Health Sciences, Inc. Both businesses were able to provide more value to their patients, clients, staff, and shareholders as a result of these acquisitions.
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