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Portability of IVD Devices
Point of care (POC) diagnostic devices help obtain diagnostic results with the patient or close to the patient. POC enables quick results and faster implementation of therapy. They also offer convenience, connectivity, and quality assurance, and the portability advantage of these IVD devices is one of the critical contributory factors to surging demand.
Ideally, most geriatrics and general practitioners prefer the in-vitro diagnostics method over other options due to its portability. Modern in vitro diagnostics enhance patients' treatment with limited physical movement due to severe chronic ailments such as bowel disorders or muscle and joint injuries.
Some popularly utilized portable IVD devices include diabetic glucose meters, home pregnancy tests, and urine test strips for determining the presence of certain chemicals, PH levels, and specific gravity. Other easy-to-use point-of-care diagnostic systems enable real-time molecular testing in health care facilities and field applications.
Automation of Diagnostics Workflow
Typically, laboratory testing is a complex and labor-intensive process requiring multiple steps from sample extraction to result analysis and interpretation. With an increasing number of samples due to COVID-19, there is an urgent need to improve productivity to avoid errors in laboratory testing. Many processes in molecular diagnostic workflows can now be undertaken with the help of automated equipment like the robotic liquid handling platform. Such automation reduces hands-on time, improves accuracy, and enhances the in-vitro diagnostic revenue. Ideally, automated systems are designed to process a higher number of samples in a short period. Automated workflows play a critical role in quick turn-around testing during outbreaks and pandemics.
Rising Availability of Advanced Home Care Kits for Cancer Diagnostics
The oncology IVD diagnostics segment is also expected to grow substantially by 2027, thanks to the increasing availability and adoption of advanced care kits, primarily the fecal occult blood tests (FOBT). The FOBT is designed for effective colon cancer diagnostics in homecare settings. The FOBT technology is expected to uplift the oncology segment's demand and boost the global in-vitro diagnostics market revenue.
What Is The Impact Of COVID-19?
The COVID-19 pandemic has led to a sharp rise in the demand for in vitro diagnostic products. This trend can largely be attributed to an unprecedented surge in market demand for PCR, NGS, and serology-based rapid-test products. Notably, a very supportive regulatory environment for product development and commercialization and a substantial rise in the target patient population are other contributory factors. These factors have nudged the IVD diagnostics players to improve and strengthen their current manufacturing and distribution capabilities to meet the rising market demands.
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