The world market for in vitro diagnostics (IVD) will reach $83.3 billion in revenues in 2020, according to a recently published report from Kalorama Information, The Worldwide Market for In Vitro Diagnostics . This includes instruments, reagents, kits and equipment-related software and services. Kalorama has just released the 1
| ARLINGTON, Va., Aug. 31, 2020 /PRNewswire/ -- The world market for in vitro diagnostics (IVD) will reach $83.3 billion in revenues in 2020, according to a recently published report from Kalorama Information, The Worldwide Market for In Vitro Diagnostics. This includes instruments, reagents, kits and equipment-related software and services. Kalorama has just released the 13th edition of its yearly report.
The firm says that the 2020 market for IVD was substantial and growing, even before the COVID-19 pandemic hit. Now COVID-19 pandemic has dramatically shaped the market, adding $9 billion to revenues. Growth areas apart from COVID-19 PCR and antibody tests include other infectious diseases (particularly respiratory pathogens), liquid biopsies, companion diagnostics, and critical care and hematology tests. d-Dimer was an area not in Kalorama’s historic IVD totals that was added in this edition, it has found use in detecting severity of COVID cases. All critical care tests, especially blood gas, PCT and other biomarkers, have fared well. The market news is not all positive. Some areas of in vitro testing have been negatively affected by the pandemic. These include noninfectious disease immunoassays, diabetes, and histology/cytology tests, which originate with doctor visits. Doctor visits have been impacted by social distancing and lockdowns during the year, though some catch-up visits and resulting tests are expected later in the year and in regions where COVID-19 has had less impact. Kalorama has accounted for these in their reporting. It’s not known how long dollars added to the market as a result of the pandemic will remain in the market, so Kalorama makes COVID-19 and non-COVID market calculations. Kalorama says the effect of the publicity that IVD has received as a result of the COVID-19 pandemic should pay dividends down the road for the industry, particularly with more serious preparation for new infectious disease threats. Machines designed for COVID-19, such as Abbott’s ID Now or Cepheid’s GeneXpert, may be removed from labs if the threat is perceived to have passed, but most likely systems will be converted to other purposes. There’s also been scores of new companies that are entering the market. Some are very small firms making PCR probes for the pandemic and competing on location or cost. But it’s also normal for some companies who enter the IVD market with one test to survive and become new competitors. Improved throughputs, CRISPR-based tests, new saliva based or home-based collection systems could be used for other purposes in the future, the report says. Kalorama’s report is used by major companies in the industry, investors and other market-watchers. The report available at: https://kaloramainformation.com/product/the-worldwide-market-for-in-vitro-diagnostics-13th-edition/ About Kalorama Information
SOURCE Kalorama Information |
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