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According to the latest report by IMARC Group, titled " In-Vitro Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global in-vitro diagnostics packaging market size reached US$ 6.7 Billion in 2020. In-vitro diagnostics (IVDs) refer to the various kinds of medical devices and accessories that are widely used for performing tests on samples. These equipment assist in analyzing several bodily fluids, such as urine, stool and blood, to detect diseases and infections. These tests are utilized to assist in monitoring drug therapies while facilitating the early diagnosis of chronic diseases at the initial stage. Efficient packaging of IVD devices is pertinent in delivering accurate medical results as IVD are highly sensitive to moisture and other environmental changes. As a result, IVD kits, calibrators, reagents, software, control materials, and other instruments are enclosed in specialized packaging, including bags, bottles, plates and boxes, to protect the chemicals and samples in a proper manner.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global In-Vitro Diagnostics Packaging Market Trends:
The global market is primarily driven by the increasing incidences of chronic lifestyle diseases among the masses. This, along with the increasing healthcare spending and the growing health consciousness among individuals, has contributed to a considerable rise in the demand for IVD packaging across the globe. The market is further driven by the increasing geriatric population on the global level that is more susceptible to developing major medical conditions. Moreover, the rising preference for self-testing kits at home by patients is also contributing to the increased uptake of IVD packaging solutions. Also, numerous key players are now investing in research and development (R&D) activities to introduce high-quality IVD packaging with improved functionality and affordable costs, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the widespread preference for eco-friendly packaging solutions and continual improvements in the healthcare infrastructure. On account of the aforementioned factors, the market is expected to reach a value of US$ 8.1 Billion in 2026, registering a CAGR of 3.3% during 2021-2026.
Market Summary:
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