The Market Value of the Global In Vitro Diagnostics Market attained a value of USD 47,031.07 Million in 2020
The Market recorded a historical growth (CAGR) of 18 % between 2017 to 2020, and is expected to grow by...
GlobalData projects the Market to grow at a CAGR of ...
Global In Vitro Diagnostics recorded a double-digit YoY growth in 2020
In Vitro Diagnostics continues to account for the vast majority of COVID-19 medical devices, accounting for mid-double digit of devices in development, followed by Anesthetic and Respiratory Devices and Hospital IT. This is reflected in device approvals in the last 6 months, with a significant portion of new devices being In Vitro Diagnostics, likely as a result of these Class 2 devices being more easily able to obtain approval or emergency use authorizations compared to other medical devices.
In Vitro Diagnostics (IVD) include reagents, instruments and systems intended for use in the diagnosis of disease or other conditions, including the determination of the state of health, in order to treat or prevent disease. The reagents, instruments and systems are intended for use in the collection, preparation, and examination of specimens taken from the human body. The categories tracked under this market are Cardiac Disease, Hematological Disorders, Hormonal Disorders, Metabolic Disorder, Infectious Disease, IVD Analyzers and Reagents, Oncology, and Women's Health.
Weak initial recovery in May 2020 but stronger recovery seen in June 2020. Since July 2020, the Thyroid Function Tests market has consistently stayed above baseline.
Market share has been volatile throughout the pandemic, especially among the top 3 players by revenue.
Procalcitonin tests market not as detrimentally impacted by COVID-19 pandemic, compared to other medical device types.
During decline, procalcitonin tests market dropped to roughly high-double digit revenue, compared to Jan 2020.
Potential positive impact of the pandemic in other months due to increased number of ICU patients.
In October 2021, procalcitonin tests market shows a mid-double digit increase compared to Jan 2020. The COVID-19 Tests market is dominated by NAAT tests. Revenue for these tests closely follows COVID-19 case numbers, suggesting another surge in revenue as cases climb.
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