There has been improvement in healthcare facilities and infrastructure, which has increased the inclination toward an advanced and effective approach to treatment compared to a traditional approach. There has been an increase in demand for point-of-care testing (POCT) for fast results and treatment compared to the traditional testing services. The rise in point-of-care testing has increased the demand for IVD, creating many opportunities for the IVD contract research organization market. APAC is expected to develop significantly due to developing economies, such as China and India. APAC countries are emerging as attractive outsourcing locations for global medical devices and diagnostics manufacturers. The low manufacturing & operating cost and rising demand for IVD products globally are expected to promote the growth of the IVD contract research organization market.
Furthermore, there is a continuous growth in Asia's scientific base and capabilities owing to the growing contribution of clinical research, centralized healthcare institutions, well-qualified and highly motivated investigators, and excellent clinical trial facilities. APAC offers a large and diverse patient pool, as the region comprises ~60% of the world population. Thus, these factors are expected to create new opportunities for the IVD contract research organization market over the forecast period.
Asia Pacific IVD Contract Research Organization Market Segmentation
The APAC IVD contract research organization market is analyzed on the basis of type, services, and country. By type, the market 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. By services, the market 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.
Based on country, the APAC 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 the leading companies in the APAC IVD contract research organization market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 921.51 Million |
| Market Size by 2028 | US$ 1,621.14 Million |
| CAGR (2021 - 2028) | 8.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
|
The Asia-Pacific IVD Contract Research Organization Market is valued at US$ 921.51 Million in 2021, it is projected to reach US$ 1,621.14 Million by 2028.
As per our report Asia-Pacific IVD Contract Research Organization Market, the market size is valued at US$ 921.51 Million in 2021, projecting it to reach US$ 1,621.14 Million by 2028. This translates to a CAGR of approximately 8.4% during the forecast period.
The Asia-Pacific IVD Contract Research Organization Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific IVD Contract Research Organization Market report:
The Asia-Pacific IVD Contract Research Organization Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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Essentially, anyone involved in or considering involvement in the Asia-Pacific IVD Contract Research Organization Market value chain can benefit from the information contained in a comprehensive market report.
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