This market research report includes a detailed segmentation of the global in-vitro diagnostics packaging market by product type (bottles and vials, tubes, petri dishes, closures, and others). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The leading vendors analyzed in this report are Bio-Rad, Corning, Greiner Bio-One, and Narang Medical.
Technavio’s market research analysts estimate the global IVD packaging market to grow at a CAGR of 3% between 2016 and 2020. Recent increase in diagnostic services and a rise in the incidence and prevalence of chronic diseases and infections have boosted the growth prospects of IVD packaging market. The Americas is the largest revenue contributing region to the global IVD packaging market, accounting for 48% of the total market share. 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.
The new market research report from Technavio provides a breakdown and analysis of the in-vitro diagnostics packaging segments by technology.
“IVD product packaging manufacturers use sorbents to improve the packaging efficiency of product. These prevent products from the moisture damage caused as well as also increase their shelf life. Sorbents act as specialty oxygen absorbers for IVD products and also are used for hydrocarbon management to remove odor while maintaining moisture control in packaging,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The bottles and vials segment is expected 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.
The key players in the global IVD packaging market include Bio-Rad, Corning, Greiner Bio-One, and Narang Medical. 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.
A more detailed analysis is available in the Technavio report, Global IVD Packaging Market 2016-2020.
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