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Global $6.6 Bn In-Vitro Diagnostics (IVD) Packaging Market, 2022

Mar 28, 2017

Global $6.6 Bn In-Vitro Diagnostics (IVD) Packaging Market, 2022

The global market for In vitro diagnostics packaging was USD 6.62 billion in 2016 and is estimated to reach USD 8.16 billion by 2022 at a CAGR of 3.49% during the period.

In vitro diagnostics (IVD) is a medical device used for performing tests on specimens like blood, urine, stool and other body fluids, derived from humans to detect diseases and infections. This is essential for early diagnosis and treatment of chronic diseases. Increasing number of point of care testing is one of the major drivers of the market. Recent advancements in IVD increase the quality and functionality of packaging materials without affecting the production cost.The significant market growth observed in emerging countries is the key driver for the growth of this market. Emerging economies, such as BrazilRussiaIndia, and China (BRIC), re the focus regions for the period. The improvement of the existing healthcare infrastructure in these countries will result in the augmented demand for IVD packaging during the forecast period.