openPR Logo
Press release

COVID 19 Impact on IVD (In Vitro Diagnostics) Market | Leading Companies are Roche Diagnostics, Abbott Laboratories, Thermo Fisher Scientific, Becton Dickinson and Company, Bio-Rad Laboratories, Biomerieux, and QIAGEN

05-12-2020 01:46 PM CET | Health & Medicine

Press release from: MarketsandMarkets

COVID 19 Impact on IVD (In Vitro Diagnostics) Market | Leading

The demand for in-vitro diagnostic products due to the COVID-19 pandemic is expected to increase mainly due to factors such as a sharp rise in market demand for PCR, NGS, serology based rapid-test products, the supportive regulatory landscape for product development & commercialization, and a sharp rise in target patient population. These factors have prompted market players to improve and strengthen their current manufacturing and distribution capabilities as well as to focus on product commercialization & upgrades.

The global in-vitro diagnostics market size is expected to be valued at USD 61.7 billion in 2020 and projected to reach USD 77.9 billion by 2025, growing at a CAGR of 4.8% during 2020-2025.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=55486975&utm_source=OpenPr&utm_medium=referral&utm_campaign=paidpr

The PCR segment is expected to hold the largest share of the market in 2020 H1

Based on technology, the in-vitro diagnostics market is segmented into PCR, NGS, ELISA, rapid-tests, clinical chemistry, hematology, hemostasis, urinalysis, microbiology testing, and others. The PCR segment is expected to hold the largest share of the global in-vitro diagnostics market in 2020 - H1. Factors such as the increasing patient emphasis on effective & early patient screening, continued commercialization of novel COVID screening platforms by major players, early efforts of key players to address supply chain bottlenecks, and easy availability of controls & standards are driving the growth of this segment.

The US to account for the largest share of the in-vitro diagnostics market in 2020 H1

The US is expected to account for the largest share of the in-vitro diagnostics market in 2020 - H1, followed by Europe. This can primarily be attributed to the continuous commercialization of innovative diagnostic products coupled with ongoing advancements in the field of gene & immunoassay based products, the recent discovery of genetic biomarkers & their clinical role in immunoassay testing, supportive government policies & their emphasis on novel product development, and the significant expansion of target patient population.

Recent Developments (2019-2020):

+ In March 2020, Abbott expanded their manufacturing capacity to offer 5 million ID now test kits per month from April onwards
+ In April 2020, Hologic has strengthened its production line for CDx units to provide 600K test kits per month
+ In March 2020, IDT has announced its capabilities to offer 5 million diagnostic test kits from April 1st week for COVID screening
+ In March 2020, BARDA (US) has provided funding of USD 0.7 million to Hologic to develop rapid diagnostic kits for COVID

Request for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=55486975&utm_source=OpenPr&utm_medium=referral&utm_campaign=paidpr

Key Market Players

Major players covered include Bio-Rad Laboratories, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), QIAGEN NV (Netherlands), Thermo Fisher Scientific Inc. (US), bioMérieux S.A., Immucor, Inc. (US), Illumina, Inc. (US), Luminex Corporation (US), CareDx (US), Becton, Dickinson and Company (US), Hologic (US), GenDx (Netherlands), Biofortuna (UK), Takara Bio, and BAG Healthcare

An analysis of the market developments between December 2019 to April 2020 revealed that product commercialization, developmental collaborations, and product distribution partnerships were adopted by market players to maintain a competitive position in the in-vitro diagnostics market to mitigate the COVID-19 impact. Product commercialization was the most widely adopted growth strategy.

Mr. Aashish Mehra
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: sales@marketsandmarkets.com

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's(TM) flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release COVID 19 Impact on IVD (In Vitro Diagnostics) Market | Leading Companies are Roche Diagnostics, Abbott Laboratories, Thermo Fisher Scientific, Becton Dickinson and Company, Bio-Rad Laboratories, Biomerieux, and QIAGEN here

News-ID: 2042517 • Views: 450

More Releases from MarketsandMarkets

Oligonucleotide Synthesis Market Worth USD 14.1 billion by 2026 - Industry-Speci …
According to the new market research report "Oligonucleotide Synthesis Market by Product (Drug, Synthesized Oligos (Primer, Probe), Reagents), Type (Custom, Predesign), Application (Therapeutic (ASO, siRNA), Research (PCR), Diagnostic), End User (Hospital, Pharma, CROs) - Global Forecast to 2026", published by MarketsandMarkets™, the Oligonucleotide Synthesis Market is projected to reach USD 14.1 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 17.6% during the forecast period. Browse in-depth…
Base Oil Market | Key players operating in the market include Chevron Corp, Exxo …
According to recent market research "Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid), Region (North America, Europe, Asia Pacific, South America, MEA) – Global Forecast To 2025", The global Base Oil Market is projected to grow from USD 28.7 billion in 2020 to USD 36.7 billion by 2025, at a CAGR of 5.0%…
Medical Aesthetics Market Worth USD 15.9 billion by 2025 - Industry-Specific Cha …
This report aims to provide detailed insights into the global medical aesthetics market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market. Expected Revenue Growth Analysis: The global…
Propylene Oxide Market worth $29.5 billion by 2026 | Key players Dow Inc., BASF …
According to recent market research "Propylene Oxide Market by Application (Polyether Polyols, Propylene Glycols),Production Process (Chlorohydrin, Styrene Monomer, Cumene Based), End-Use Industry (Automotive, Building & Construction), and Geography - Global Forecast to 2026", The propylene oxide market is projected to grow from USD 22.5 billion in 2021 to USD 29.5 billion by 2026, at a CAGR of 5.6% from 2021 to 2026. The propylene oxide market is majorly driven…

All 5 Releases


More Releases for COVID

Company Innovation During COVID-19
Centuria Foods, Inc. was able to come out on top during the worldwide COVID-19 pandemic because of its ability to adapt and act quickly to the new normal. The company’s leadership quickly realized this virus was going to be a long term crisis that would result in short term revenue loss. Most clients were wanting to wait and see what was going to happen before moving forward with previously scheduled production.…
COVID-19 proof deliveries
DUNA-BIOSHIELD eliminates the risk of contamination without risks for people, residues, odors and without environmental restrictions. It is our hydroalcoholic disinfectant compliant with the directives of the World Health Organization that DUNA has developed, and has been applied since March 2020 to all products departing from its factory in Modena. With the official extension of the state of health emergency on the national territory until October 15th, as well as the…
COVID-19 ANALYSIS TELEHEALTH MARKET
Telehealth Market: Overview The telehealth market is riding on the wave of growth. This is because telehealth is no longer an option, but a necessity due to the increasing dangers of COVID-19. The crisis is serving as an opportunity for the telehealth market to grow at a rapid pace. During this uncertain COVID-19 pandemic, telehealth serves as a boon. With a large populace forced to stay at home due to the…
Covid 19 Discounts at Imaginology
Imaginology LLC, a Phoenix owned small business, specializing in animation, video and interactive media production, announced that it is offering discounts on their in-studio, live streaming services to businesses affected by Covid-19. Like the businesses they want to help, their business has also been impacted by the pandemic. The staff saw the broad reaching effects of sheltering in place on businesses and families alike and realized the studio is in…
PHARMA MANUFACTURING COVID-19 CHALLENGE
New Delhi, 19 June, 2020 - Business Horizons, pharmaceutical publishers, announces the launch of their latest publication titled Pharma Manufacturing Covid-19 Challenge. This is their latest offering in the field of pharmaceutical books, after the highly successful earlier book Pharmaceutical Facility Management. In December 2019, China began noticing a disturbing trend of pneumonia like cases that were fast multiplying in the city of Wuhan, the sprawling capital of central China’s Hubei…
COVID-19 UV Light Solution
New York-based MRD Lighting, a major vendor to the international cruise industry, is developing ultraviolet lighting prototypes to combat airborne and surface-transmitted viruses aboard ships. The company, which has consistently innovated in providing a wide array of solutions to cruise lines, is working with subject matter experts in the radiological and epidemiology arenas to provide rapid-response capabilities as the Coronavirus increasingly impacts the cruise industry. "We have been expanding our capabilities and…