Description
This research service provides critical insights into the impact of COVID-19 on the global in-vitro diagnostics (IVD) industry, highlighting the growth opportunities, market revenue, and technology trends that influence its growth. Its three major segments identify the strategic imperatives of the IVD industry, the impact of COVID-19 on the IVD growth environment, and actionable growth and profit opportunities of industry participants. The report highlights the similarities and contrast between the United States, Europe, KSA, and UAE.
Leading IVD players are adopting risk-mitigation measures and reprioritizing their opportunities towards controlling the pandemic. The segment initially grappled with supply chain issues (reagents, swabs) and is expected to follow the trend of active COVID-19 cases. POCT and molecular diagnostics account for 30% of all IVD testing. Major players Roche and Abbott both reported a 29% global sales increase in molecular diagnostics compared to Q1 2019. Government funding will compound these figures. Hospital-based testing unrelated to COVID-19, including immuno-histochemistry, accounts for 57% of the IVD market and was severely impacted by reduced patient volumes.
The report highlights the dynamics of the clinical laboratories and covers the key market growth opportunities that encompass IVD solution requirements, disruptive technologies, and innovative business models. The research includes market trends and future concepts that shed light on revenue forecasts and the importance of certain projects, programs, and partnerships.
Author: Surbhi Gupta
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