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IVD Contract Research Organization Market Size Worth US$ 8,019.53 million by 2028Leading companies like Clinexa, ResearchDx, DCN Dx, CMIC HOLDINGS, AKRN Scientific Consulting
According to our latest market research study on "IVD Contract Research Organization Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Services," the market is expected to grow from US$ 4,738.79 million in 2021 to US$ 8,019.53 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights the trends prevailing in the market and market drivers and deterrents. The increasing demand for in-vitro diagnostics and clinical trials and new product launches by market players drive the market growth. However, stringent government policies and lack of skilled workforce limit the market growth.Request for sample PDF Copy @ https://www.theinsightpartners.com/sample/TIPRE00028373/?utm_source=OpenPR&utm_medium=10144
Before COVID-19 pandemic, the global IVD contract research organization market was developing at a significant rate owing to the opportunities and demand in Asia Pacific. It has become priority for the healthcare industry and government to deal with the pandemic and for that they must prioritize the clinical trials for COVID-19 treatment and diagnostics as compared to other disorders. The clinical trials for other disorders were on halt and manufacturers along with contract research organization were focusing on the development of IVD for COVID-19 testing, which helps in treatment and monitoring. The increased production and supply of COVID-19 testing kits in India and China along with other ongoing clinical trials in the region are expected to have moderately positive impact on the growth of the IVD contract research organization market.
Proxima Clinical Research, Inc.; Clinexa; ResearchDx; NAMSA; Nexelis; a Q² Solutions Company; ICON PLC; Toolbox Medical Innovations; DCN Dx; CMIC HOLDINGS Co., LTD; and AKRN Scientific Consulting S.L. are among the prominent players operating in the global IVD contract research organization market.
Companies are launching new and innovative products and services to sustain their position in the global IVD contract research organization market. In September 2020, ICON plc, launched accellacare, a global clinical research network offering patients easier and faster access to treatments and offering customers the option to deploy decentralized trials.
Following are a few examples of companies that launched new IVD products and developments:
In February 2022, Invitae announced the availability of FusionPlex Dx and LiquidPlex Dx in Europe. It provides the highest quality CE-IVD products to enable European pathologists and oncologists to efficiently provide vital information on time to guide cancer therapy for patients. It delivers essential high-quality innovation for precision oncology in the fight against cancer.
In April 2021, Illumina announced the setup of its cancer detection efforts by launching a new in-vitro diagnostic (IVD) test to boost its oncology-focused companion diagnostic (CDx) collaborations. It also plans to launch a new cloud-based bioinformatics data platform.
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