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 COVID- 19 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.
In vitro diagnostics (IVD) quality control market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 1.25 billion by 2027 growing at a CAGR of 3.8% in the above-mentioned forecast period. Growing demand for multi-analyte controls is expected to enhance the demand for the market.
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In-vitro diagnostics (IVDs) are those medical devices and accessories which are specially designed so they can conduct in-vitro testing on body samples such as tissues, blood and urine. They are widely used for the diagnosis and treatment of various medical conditions.
In-Vitro Diagnostics Products Market has been riding a progressive growth trail over the recent past. The first two quarters of the year 2020 have however witnessed heavy disruptions throughout all the industry facets, which are ultimately posing an unprecedented impact on In-Vitro Diagnostics Products market. Although healthcare & life sciences industry as a whole is witnessing an influx of opportunities in selected sectors, it remains a matter of fact that some of the industry sectors have temporarily scaled back. It becomes imperative to stay abreast of all the recent updates and predict the near future wisely.
The “In Vitro Diagnostic Testing Services Market” 2020 report includes the market strategy, market orientation, expert opinion and knowledgeable information. The In Vitro Diagnostic Testing Services Industry Report is an in-depth study analyzing the current state of the In Vitro Diagnostic Testing Services Market. It provides a brief overview of the market focusing on definitions, classifications, product specifications, manufacturing processes, cost structures, market segmentation, end-use applications and industry chain analysis. The study on In Vitro Diagnostic Testing Services Market provides analysis of market covering the industry trends, recent developments in the market and competitive landscape.
Note: Our domain-specific expert analyst team is keenly monitoring COVID-19 impact on In Vitro Diagnostic (IVD) Products Industry segments and sub-segments for better market understanding. The latest updated 2020 report edition offers COVID-19 impact on various industry segments with an economic slowdown, product demand fluctuations, and revenue accumulation.
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For product type segment, this report listed main product type of In Vitro Diagnostic Services market in global. Infectious Testing, Diabetes Testing, Molecular Testing, Tissue Testing
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.
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