COVID-19 Impact on IVD (In Vitro Diagnostics) Market - Exclusive Report by MarketsandMarkets™

CHICAGO, May 6, 2020 /PRNewswire/ -- MarketsandMarkets™ published a report titled, "COVID 19 Impact on IVD (In Vitro Diagnostics) Market by Technology (PCR, NGS, ELISA, Rapid Test, Hematology, Hemostasis, Clinical Chemistry, Microbiology Testing, Urinalysis), End-user and Region – Global Forecast to 2025". Based on their findings, the IVD (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. The demand for In-Vitro Diagnostic products due to COVID-19 pandemic is expected to grow 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 & upgrade.

Request for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=55486975

Based on technology, 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 industry in 2020 – H1. Factors such as the increasing patient emphasis on effective and 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.

Browse in-depth TOC on "COVID-19 impact on IVD (In Vitro Diagnostics) Market"
30 – Tables
10 – Figures 
70 – Pages

Request more details on:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=55486975

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

The US is expected to account for the largest share of the in-vitro diagnostics market in 2020, 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.

As of 2019, some of the prominent players in the in-vitro diagnostics market are Roche Diagnostics (Switzerland), Abbott Laboratories (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Biomerieux (France), and QIAGEN (Germany), among others.

Related Reports:

Digital PCR (dPCR) and Real-time PCR (qPCR) Market by Product (Instruments, Reagents, Software, Services), Application (Clinical, Oncology, Forensics), End-user (Hospitals, Diagnostic Labs, Academia, Pharma-Biotech, CRO) - Global Forecast to 2024

Next-generation Sequencing (NGS) Market by Product (NOVASEQ, NEXTSEQ, SEQUEL, NANOPORE), Consumables, Bioinformatics, Services (EXOME, RNA, DENOVO), Technology (ION, SMRT), Application (Diagnostics, Cancer), End User, Region - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche 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™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ 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™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ 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 flagship competitive intelligence and market research platform, "Knowledge Store" 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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/covid-19-impact-on-ivd-in-vitro-diagnostics-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/covid-19-impact-on-ivd-in-vitro-diagnostics.asp

SOURCE MarketsandMarkets