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In Vitro Diagnostics Market Size Worth $113.9 Billion By 2027: Grand View Research, Inc.

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The global in vitro diagnostics market size is expected to reach USD 113.9 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2021 to 2027. The growth is driven by the growing geriatric population and technological advancements in diagnostics that are supporting its adoption.Technological advancements in terms of accuracy, portability, and cost-effectiveness are expected to be one of the high impact rendering drivers of this market. For instance, in June 2017, Agena Bioscience launched the MassARRAY system integrated with CHIP Prep Module in Europe. The system was marketed as a CE-IVD product under Directive 98/79/EC. Moreover, Real-Time Polymerase Chain Reaction (qPCR) is one of the fastest-growing application segments of the in vitro diagnostics (IVD) market.

Key suggestions from the report:

  • Molecular diagnostics is expected to witness the fastest growth over the forecast period
  • High use of reagents in IVD testing, high demand for over-the-counter diagnostic tests, and increase in adoption of these tests in nonmedical facilities, such as home, are some of the factors that are driving the growth, providing it a clinical advantage over other IVD tests
  • Reagents held the largest market share in 2020 owing to the increasing demand for genetic testing and availability of technologically advanced cancer diagnostic tests in countries with unmet clinical needs, such as India and Middle East & Africa
  • The growing availability of CE-IVD certified kits globally to diagnose and screen patients during epidemic situations is expected to boost the growth of reagents and instruments segments
  • Key players are updating their range of testing options for qPCR instruments by undertaking R&D initiatives for the development of kits that target emerging diseases, or by entering into agreements with other kit manufacturing companies

Read 200 page research report with ToC on “In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product, By Application, By Technology (Immunochemistry, Molecular Diagnostics), By End-use, By Region, And Segment Forecasts, 2021 – 2027” at: https://www.grandviewresearch.com/industry-analysis/in-vitro-diagnostics-ivd-market

The IVD market is highly competitive in nature. Consequently, manufacturers are required to improvise products in terms of specificity, accuracy, precision, speed, and other parameters, in order to gain an advantage over previously marketed products.

A steady rise in consumer awareness about diagnosing infectious diseases and increasing disease prevalence, especially in developing and under-developed countries, are driving the market penetration of the products. For instance, in February 2019, Abbott received CE Mark for DETERMINE HBSAG 2 test for detection and diagnosis of hepatitis B surface antigen.

Organizations promote funding to support R&D and product development exercises pertaining to clinical diagnostics. For instance, Vela Diagnostics received USD 225,000 as Biomedical Advanced Research and Development Authority (BARDA) fund to develop COVID-19 tests. Moreover, the introduction of the American Health Care Act of 2017 is expected to improve the healthcare of the U.S. Rising government initiatives pertaining to the importance of IVD will fuel market growth.

The presence of effective technologies such as molecular diagnostics is expected to reduce the threat of substitutes. Moreover, their contribution in the field of genetic testing is of paramount importance and, therefore, experience a low threat of substitutes. However, high prices of these tests are expected to encourage patients to shift to external substitutes.

Major players in the market are Roche Diagnostics; Becton Dickinson; Abbott Laboratories; Siemens; and bioMerieux, which are well-established. Therefore, local companies and new organizations have little scope to enter the market and ensure sustainability. However, companies such as Danaher Corporation and Hologic have successfully excelled in the market through mergers and acquisitions. The seed capital required is high.

Grand View Research has segmented the global in-vitro diagnostics market on the basis of product, technology, application, end-use, and region:

  • In Vitro Diagnostics Product Outlook (Revenue, USD Million, 2016 – 2027)
    • Instruments
    • Reagents
    • Services
  • In Vitro Diagnostics Technology Outlook (Revenue, USD Million, 2016 – 2027)
    • Immunoassay
      • Instruments
      • Reagents
      • Services
    • Hematology
      • Instruments
      • Reagents
      • Services
    • Clinical Chemistry
      • Instruments
      • Reagents
      • Services
    • Molecular Diagnostics
      • Instruments
      • Reagents
      • Services
    • Coagulation
      • Instruments
      • Reagents
      • Services
    • Microbiology
      • Instruments
      • Reagents
      • Services
    • Others
      • Instruments
      • Reagents
      • Services
  • In Vitro Diagnostics Application Outlook (Revenue, USD Million, 2016 – 2027)
  • Infectious Disease
    • Diabetes
    • Oncology
    • Cardiology
    • Nephrology
    • Autoimmune Disease
    • Drug testing
    • Others
  • In Vitro Diagnostics End-use Outlook (Revenue, USD Million, 2016 – 2027)
    • Hospitals
    • Laboratories
    • Home Care
    • Others
  • In Vitro Diagnostics Regional Outlook (Revenue, USD Million, 2016 – 2027)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Singapore
      • Australia
    • Latin America
      • Brazil
      • Argentina
      • Mexico
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
  • List of Key Players of In Vitro Diagnostics Market
    • Abbott
    • Danaher
    • bioMérieux SA
    • Bio-Rad Laboratories, Inc.
    • Becton, Dickinson and Company
    • Siemens Healthineers AG
    • QIAGEN
    • Quidel Corporation
    • F. Hoffmann-La Roche AG
    • Sysmex Corporation
    • Charles River Laboratories International, Inc.
    • Quest Diagnostics
    • Agilent Technologies

Find more research reports on  Clinical Diagnostics Industry, by Grand View Research:

  • Infectious Diseases In Vitro Diagnostics Market  The global infectious diseases in vitro diagnostics market size was valued at USD 16.3 billion in 2019 and is projected to register a CAGR of 6.2% from 2019 to 2027.
  • U.S. In Vitro Diagnostics Market – The U.S. in vitro diagnostics market size was valued at USD 25.32 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027.
  • Point-of-Care Molecular Diagnostics Market  The global point-of-care molecular diagnostics market size was valued at USD 1.72 billion in 2018 and is anticipated to expand at a CAGR of 14.4% over the forecast period.

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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