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The IVD reagents market is expected to grow at a CAGR of 7% from 2020 to 2027 to reach $77.6 billion by 2027.
The growth in the IVD reagents market is mainly attributed to the factors such as increasing global prevalence of acute and chronic infectious diseases coupled with rising geriatric population, increasing adoption of flow cytometry techniques in research and academia, increase in funding for research activities, and rising proteomics and genomics research studies. Moreover, the growing demand for protein therapeutics and personalized medicines and emerging economies offer significant growth opportunities for the players operating in this market.