Combo IVD Market Growth and Restrain Factors Analysis Report

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Combo IVD Market - (By Test Type (SARS-CoV-2 Flu A/B Combo Test, COVID-19, Influenza A/B, RSV Combo test, COVID-19 IgM/IgG Combo Test, HIV-1/2 Ag/Ab Combo Test, HIV/Syphilis Ab Combo Test, HIV, HBsAg, HCV & Syphilis Combo, hCG Combo Test, Thrombophilia Detection Combo Test, Other Test Types), By Testing, By End-User, By Channel, By Sample Type), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Combo IVD Market is valued at US$ 550.12 Mn in 2023, and it is expected to reach US$ 920.86 Mn by 2031, with a CAGR of 6.84% during the forecast period of 2024-2031.

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Combo in vitro diagnostic (IVD) procedures involve testing a patient's blood or tissue samples to monitor vital signs and accurately diagnose illnesses and underlying health conditions. These diagnostic tests help healthcare providers determine the most effective treatment plans for each patient. As the prevalence of both acute and chronic diseases continues to rise, the IVD market is experiencing rapid growth. The increasing rates of long-term health conditions like diabetes, cancer, heart disease, and tuberculosis are raising significant concerns.

Additionally, the rise in cases of infectious diseases, respiratory issues, and gastrointestinal problems is contributing to this surge. The growing incidence of these health issues is expected to drive the demand for diagnostic equipment, further boosting the IVD market. Moreover, continued investments in research and development (R&D) for more affordable treatment options are expected to provide promising opportunities for market expansion. However, the high cost of diagnostic instruments and the maintenance of diagnostic devices remain challenges that could limit market growth.

List of Prominent Players in the Combo IVD Market:
• DRG International Inc.
• Becton, Dickinson and Company
• DiaCarta Inc
• Abbott Laboratories
• bioMérieux SA4
• Bio-Rad Laboratories
• Alpha IVD Srl
• BioGX BV
• Thermo Fisher Scientific Inc.
• Megna Health Inc
• CTK Biotech, Inc.
• Biopanda Reagents Ltd
• F. Hoffmann-La Roche Ltd
• Hologic Inc
• Siemens AG
• Other Prominent Players

Market Dynamics:
Drivers-
The demand for the combo in vitro diagnostic (IVD) market is increasing, primarily due to the growing number of elderly patients requiring frequent health monitoring. Additionally, advancements in IVD technologies are playing a significant role in the market's growth. With the development of more accurate, sensitive, and time-efficient diagnostic tools, including point-of-care (POC) testing, liquid biopsy, next-generation sequencing, and molecular diagnostics, healthcare providers are now able to achieve better patient outcomes. These technological advancements have become a driving force in the expansion of the IVD market.

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Challenges:
The combo IVD market faces several challenges, including stringent regulations, a shortage of skilled professionals, and the lack of standardized protocols, particularly in emerging countries where the impact of lockdowns and isolation has been felt. Ethical concerns and the regulations surrounding gene editing and human studies also pose significant obstacles. Moreover, the necessity of in-depth knowledge of biological methods and the increasing negative reimbursement environments are key factors hindering the market's growth. The ongoing changes in government regulations further complicate the situation.

Regional Trends:
The North American combo IVD market is expected to dominate the revenue share, with strong projected growth driven by a well-established local presence of businesses and an expanding infrastructure supporting various industries. The increasing prevalence of long-term health conditions such as diabetes, heart disease, and cancer is another key factor fueling the market's growth in this region. Meanwhile, Europe is also expected to maintain a significant market share, supported by higher healthcare spending and a growing use of point-of-care devices.

Recent Developments:
• In Jan 2023, Bio-Rad Laboratories introduced the CFX Opus Deepwell Dx Real-Time PCR System. This system is a real-time PCR system that officially granted approval by the U.S. Food & Drug Administration (FDA) for in vitro diagnostic (IVD) testing. It has also been developed in compliance with the European Union's regulations for in vitro diagnostic medical devices.
• In June 2022, BD (Becton, Dickinson and Company) has notified the IVD directive 98/79/EC of the CE marking of the BD MAXTM Respiratory Viral Panel (RVP), a novel molecular diagnostic combination test that detects Respiratory Syncytial Virus (RSV), SARS-CoV-2, and Influenza A + B. A solitary nasal or nasopharyngeal biopsy sample was utilized in the test to ascertain whether a patient was infected with COVID-19, influenza, or RSV. This facilitated the prompt implementation of the appropriate treatment plan by clinicians and reduced the necessity for numerous tests or medical visits.


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Segmentation of Combo IVD Market-
By Test Type-
• SARS-CoV-2 Flu A/B Combo Test
• COVID-19, Influenza A/B, RSV Combo test
• COVID-19 IgM/IgG Combo Test
• HIV-1/2 Ag/Ab Combo Test
• HIV/Syphilis Ab Combo Test
• HIV, HBsAg, HCV & Syphilis Combo
• hCG Combo Test
• Thrombophilia Detection Combo Test
• Other Test Types
By Testing -
• Rapid Testing
• Point Of Care Testing
By End-User-
• Diagnostics Centres
• Hospitals
• Homecare Setting
• Other End-Users
By Channel-
• Over-the-Counter
• Laboratory based
By Sample Type-
• Orals and Nasal Swabs
• Human Serum
• Whole Blood
• Other Sample Types
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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