In the past few years, the epidemiological burden of infectious diseases across the globe has increased. According to the WHO, infectious diseases cause ~17 million deaths in a year. Also, the recent outbreaks of Ebola, Zika, dengue, and Middle East respiratory syndrome, among others, have triggered the cases of infectious diseases. Also, urbanization, globalization, climate change, civil conflict, and the nature of pathogen transmission between humans & animals have increased the risk of transmission for infectious diseases.
In 2019, 3,296 Ebola cases and 2,196 deaths were reported, making it the second-largest documented outbreak after the 2014–2016 epidemics in West Africa (Source: CDC). Also, according to the WHO, as of July 2019, a total of 87 countries and territories have had evidence of autochthonous mosquito-borne transmission of the Zika virus. Moreover, in 2018, an estimated 37.9 million people were living with HIV (including 1.7 million children), with a global HIV prevalence of 0.8% among adults (Source: WHO).
The recent outbreak of the COVID-19 infection is an example of the same. According to the WHO, as of 23rd June 2020, there were 9,193,194 confirmed cases and 474,467 confirmed deaths, which increased to 15,099,548 cases and 619,605 deaths as of 22nd July 2020. The increasing prevalence of infectious diseases across the globe is significantly accelerating the demand for effective diagnosis, creating immense opportunities for immunoassays.
To reduce the prevalence of infectious diseases, in-vitro diagnostics is considered as the most pivotal diagnostic tool. Diagnosis can be performed with human blood or tissue samples to detect diseases and infections. It can also be used to monitor a person's overall health to help cure, treat, or prevent diseases. In vitro diagnosis makes use of various technologies and immunoassays, in which the quantitation of the analyte depends on the reaction of an antigen and antibody.
A wide variety of immunoassay techniques have been developed, with ELISA, microarray, radioimmunoassay, immunocytochemistry, western blotting, and blood screening. Immunoassays also find application in cancer markers, diagnosing infectious diseases, cardiac analysis, therapeutic drug monitoring, and allergen tests.
Therefore, owing to its high potential, key companies are actively working on designing and launching new products in the IVD reagents market. Some of the major product launches include:
- In May 2020, ERBA Diagnostics Mannheim GmbH (Germany) launched its immunoassay-based kit—ErbaLisa COVID-19 ELISA kits for the detection of IgG and IgM antibodies to SARS-CoV-2. This kit allows qualitative as well as semi-quantitative detection of IgG and IgM antibodies.
- In March 2020, Epitope Diagnostics Inc. (U.S.) launched its immunoassay kits, namely, EDI Novel Coronavirus COVID-19 IgG ELISA Kit and EDI Novel Coronavirus COVID-19 IgM ELISA Kit.
- Similarly, in February 2020, WuXi Diagnostics (China) launched the nCoV IgM Detection kit, nCoV IgM/IgG Detection Kit, and nCoV Nucleic Acid Detection Kit.
These newly launched products are integrated with detection solutions, which are assisting medical institutions in diagnosing COVID-19 infection quickly & accurately and improving epidemic prevention & control. The increase in the launch of newer immunoassay-based diagnostic kits will result in the increased adoption of IVD reagents.
Thus, this is expected to drive the global IVD reagents market at a CAGR of 7.0% to reach $77.56 billion by 2027, according to Meticulous Research®.
Meticulous Research’s Repository for IVD Industry Include:
In Vitro Diagnostic (IVD) Reagents Market by Type (Antibodies, Oligonucleotide, Nucleic Acid Probe), Technology (Immunoassay, Hematology, Microbiology), Use (Research, Analyte Specific Reagent), End User (IVD Manufacturer, Clinical Laboratory) – Global Forecast to 2027
Latin America In Vitro Diagnostics (IVD) Market by Product (Consumables, Instruments, Software), Technology (Immunoassay, Microbiology, Molecular Diagnostics), Application (Oncology, Diabetes), End User (Hospital, Reference Lab) - Forecast to 2027
In Vitro Diagnostics Market | IVD Market By Product (Reagent, Instruments, Software, Service), Technique [Immunoassay, Clinical Chemistry (Lipids, Renal, Thyroid), PCR], Application (Hematology, Diabetes, Nephrology, Oncology), End User (Hospital, POC) - Global Forecast to 2024