Impact of COVID-19 on In-Vitro Diagnostics Regulations | HCLTech

Impact of COVID-19 on In-Vitro Diagnostics Regulations

The impact of COVID-19 on IVD Market size is expected to be raised. The demand for in-vitro diagnostic products due to the COVID-19 pandemic is predictable to increase mainly due to factors such as a sharp rise in market demand for PCR, NGS, serology based rapid-test products, the helpful regulatory landscape for product development & commercialization, and a sharp rise in target patient population. These factors have encouraged market players to improve and strengthen their current manufacturing and distribution capabilities as well as to focus on product commercialization & upgrades. The in-vitro diagnostics marketplace is segmented on technology, end-user, and region/country. Based on reported result, 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. An industrial overview of the global market is provided along with the market growth estimated to be achieved with the products that are sold. Main companies who occupy a large market share and the different products sold by them in the global market are recognized. Download the whitepaper to read about the other major challenges and impact of COVID-19 on IVDR.

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