Covid -19 Impacts: Ijn Vitro Diagnostics Market Analysis

COVID-19 Impact on In Vitro Diagnostics (IVD) Market: Analysis Report 2020 The coronavirus (COVID-19) pandemic is having a dramatic impact on the in-vitro diagnostics (IVD) including technologies such as PCR, NGS, ELISA, clinical chemistry, rapid-tests, hematology, hemostasis, urinalysis, microbiology testing, and others. Currently, in-vitro diagnostic is the only diagnosis used by the healthcare professionals in order to detect the spread of corona virus across the globe. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East and Africa up to South America. The COVID19 has been declared as a pandemic by WHO due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown such as the U.S., Germany, India and China among more in order to decrease its spread. The lockdown of countries aids in surging of use of diagnostic kits in order to screen patients suffering from coronavirus. According to the situation, the report of 4th June 2020 by WHO stated 6,416,828 cases of corona has been reported globally and 382,867 patients are dead due to the coronavirus.

This intensively research documentation articulating relevant details about growth initiators of the In Vitro Diagnostics (IVD) market has been designed to equip report readers and aspiring market participants with high end reference material to gauge into the nitty gritty of developments, events, trends as well as challenges and threats that influence growth prognosis in the global In Vitro Diagnostics (IVD) market.

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Global In-Vitro Diagnostics (IVD) Market report offers a detailed Outlook and future prospects of the Industry. The In-Vitro Diagnostics (IVD) Market report includes various topics like market size & share, Product types, applications, key market drivers & restraints, challenges, growth opportunities, key players, competitive landscape.

Impact on supply Due to the rising demand for in-vitro diagnostic (IVD) kits, it has been observed that falsified medical products are flourishing in the market. These fake testing kits render the life of a patient at stake. WHO has received several reports concerning falsified in-vitro diagnostics (IVDs) and laboratory reagents for SARS-CoV-2 detection. Further, the misuse, stockpiling, and price gouging leads to severe supply chain disruptions. This has increased the risk for healthcare facilities with limited access to IVD kits during the care of COVID-19 patients. China being the epicenter of the pandemic became the key spot to disrupt the supply of goods.

Strategic decisions by manufacturers With the declining trend and inefficient management of the supply chain, the government and manufacturers are taking initiatives to effectively manage the supply of in-vitro diagnostic kits and make appropriate use of those products in healthcare settings. The capacity to expand reagent and IVD kit production are limited, resulting in unmet needs.

Collaboration, agreements, strategic initiatives by market players in IVD diagnostic markets such as Abbott, Bio-Rad Laboratories, Inc., DiaCarta, QIAGEN among more will help them expand their product portfolio thereby leading to market expansion. This, in turn, will help increase demand for its product in the market thus increasing future sales.

Global Immuno IVD Market Global Immuno IVD Market By Product Type (Reagents, Instruments, Software & Services), Immunodiagnostics Technique (Enzyme-Linked Immunosorbent Assay, Rapid Tests, Enzyme-Linked ImmunoSpot Assays, Radioimmunoassay,

Western Blot, Hematology), Application (Infectious Disease, Cancer, Cardiac Disease, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Other Indications), End- User (Standalone Laboratory, Hospitals, Academic & Medical Schools, Point of Care Testing, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026

Market Analysis: Global Immuno IVD Market Global Immuno IVD Market is set to witness a stable CAGR in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year of 2017. Increasing chronic and infectious disease is driving the growth of this market.

Market Definition: Global Immuno IVD Market In Vitro diagnostics test are usually performed on blood or tissue samples to detect disease or any serious condition. These devices have next generation sequencing tests which can help them to detect genomic variation in person DNA. Increasing incidences of cardiovascular disease, cancer, gastrointestinal, etc. is the major factor fueling the market.

Segmentation: Global Immuno IVD Market

By Geography    

North America US. Canada Mexico

Conclusion It has been observed through the vast spread and rising trends of coronavirus cases each passing day that the novel coronavirus or COVID-19 is expected to leave a significant impact on every aspect of life or market. The risk pose by the infectious disease is not restricted to health but the dwindling economy also. The healthcare domain is under huge pressure to deal with the unimaginably big situation of

COVID-19. Moreover, the surge in patients with this infectious disease anticipates in driving the demand for in-vitro diagnostics (IVD) in the market.

Related Reports:  Global Immuno IVD Market – Industry Trends - Forecast to 2026