COVID-19 Impact on IVD (In Vitro Diagnostics) Market By Technology (Polymerase Chain Reaction, Next-generation Sequencing, Enzyme-Linked Immunosorbent Assay (ELISA), Rapid/PoC Tests, Clinical Chemistry, Microbiology Testing, Hematology, Coagulation & Hemostasis, Urinalysis, and Other Technologies), By End-user (Hospital-based Laboratories, Independent Laboratories, Reference Laboratories, Point of Care and Self Testing, Researchers & Academia, and Other End Users), and By Region - Trends, Analysis, and Forecast till 2029

COVID-19 Impact on IVD (In Vitro Diagnostics) Market accounted for USD 59.1 Billion in 2020 and is estimated to be USD 89.8 Billion by 2029 and is anticipated to register a CAGR of 4.3%.

In-vitro diagnostics (IVD) are medical devices and accessories. They used to perform tests to detect diseases and infections by examining specimens of human body fluids such as urine, tissues, blood, stool, etc.  It helps to determine the health condition and diagnose to cure, treat, or prevent diseases or sequelae, and monitor drug therapies. Devices used for examinations can range from simple tests to DNA technology including reagents, control materials, calibrators, kits, instruments, software, etc. IVD witness huge importance in the global healthcare industry as it aids to protect the health and safety of patients by offering the best medical services. IVD adds remarkable value to diagnoses and treatment processes, and also enhances the well-being of consumer patients and the population as a whole. Thus, the IVD market is experiencing rapid growth in the global healthcare market.

Due to the COVID-19 pandemic, the demand for in-vitro diagnostic products is projected to expand mainly due to factors such as a sharp rise in market demand for PCR, NGS, and serology based rapid-test products. According to data published by WHO on June 22, 2020, there have been 8,860,331 confirmed cases of COVID-19, including 465,740 deaths globally. Additionally, the supportive regulatory landscape for product development & commercialization and a sharp rise in the target patient population also boosts the growth of the target market. These factors have impelled market players to strengthen and improve their current manufacturing and distribution capabilities as well as to focus on product upgrades & commercialization. Moreover, rising demand for point-of-care and rapid tests along with high growth opportunities in emerging countries are propelling the growth of the target market.

The global COVID-19 impact on IVD (in vitro diagnostics) market is segmented based on technology, end-user, and region.

On the basis of the technology, the global COVID-19 impact on IVD (in vitro diagnostics) market is segmented into a polymerase chain reaction, next-generation sequencing, enzyme-linked immunosorbent assay (ELISA), rapid/POC tests, clinical chemistry, microbiology testing, hematology, coagulation & hemostasis, urinalysis, and other technologies. Based on end-user, the target market is bifurcated into hospital-based laboratories, independent laboratories, reference laboratories, point of care and self-testing, researchers & academia, and other end users.

In the region, the global COVID-19 impact on the IVD (in vitro diagnostics) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The U.S. is projected to register for the maximum share in 2020 for the in-vitro diagnostics market, followed by Europe. This can mainly be attributed to the ongoing advancements in the field of gene & immunoassay-based products and the continuous commercialization of innovative diagnostic products coupled with the recent discovery of genetic biomarkers & their clinical role in immunoassay testing. Furthermore, supportive government policies & their emphasis on novel product development and the significant growth of the target patient population drive the growth of the target market in this region.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029.  For the purpose of this study, has segmented the global COVID-19 impact on IVD (in vitro diagnostics) market report based on technology, end-user, and region.

Global COVID-19 Impact on IVD (In Vitro Diagnostics) Market, By Technology:

• Polymerase chain reaction
• Next-generation Sequencing
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Rapid/PoC Tests
• Clinical Chemistry
• Microbiology Testing
• Hematology
• Coagulation & Hemostasis
• Urinalysis
• Other Technologies

Global COVID-19 Impact on IVD (In Vitro Diagnostics) Market, By End-user:

• Hospital-based Laboratories
• Independent Laboratories
• Reference Laboratories
• Point of Care and Self Testing
• Researchers & Academia
• Other End Users

 Global COVID-19 Impact on IVD (In Vitro Dignostics) Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global COVID-19 impact on IVD (in vitro diagnostics) market include Bio-Rad Laboratories, Inc., bioMérieux S.A., QIAGEN NV, Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd., Immucor, Inc., Luminex Corporation, Illumina, Inc., CareDx, and Becton, Dickinson, and Company. Currently, to deal with the COVID-19 impact, prominent players are adopting various strategies such as product commercialization, developmental collaborations, and product distribution partnerships in the in-vitro diagnostics market. Product commercialization is the most broadly adopted growth strategy. For instance, in March 2020, QIAGEN launched a QIAstat-Dx test kit for the detection of SARS-CoV-2 coronavirus in Europe following CE marking. The QIAstat-Dx test kit can differentiate the SARS-CoV-2 coronavirus from 21 other serious respiratory infections in patients who may have similar symptoms in a single testing run of about one hour.

• Bio-Rad Laboratories, Inc.
• bioMérieux S.A.
• QIAGEN NV
• Thermo Fisher Scientific Inc.
• F. Hoffman-La Roche Ltd.
• Immucor, Inc.
• Luminex Corporation
• Illumina, Inc.
• CareDx
• Becton, Dickinson, and Company