Press Release

Medi-Tech Insights

Global IVD Contract Manufacturing Services Market valued at $4.6 billion (2021), is set to witness a growth of 4% in the next 5 years

May 24th, 2022 2:01 PM

Cost savings, scalability, technology know-how, and risk mitigation offered by IVD contract manufacturers drive OEM’s decision to outsource to IVD CDMOs.

Increasing Preference for Point-of-Care (POC) Testing Services Fuels the global IVD Contract Manufacturing Services Market

In an endeavor to cut result time and help patients make better-informed decisions about their health, there is considerable demand for IVD testing to move closer to the patient i.e. point-of-care (POC) diagnostics whether in the hospital, clinic, physician’s office, or home.

Manufacturing of specific PoC devices presents manufacturers (OEMs) with a variety of design and manufacturing challenges. For instance, the ability to process high-precision components that involve reagents and fluids are the most relevant capabilities sought by OEMs, which are accomplished by specialized IVD CDMOs.

IVD Diagnostic Kits Demand Triggered by Covid-19 Bolsters the IVD Contract Manufacturing Services Market

Ever since the outbreak of Covid-19, the demand for IVDs has exploded, which in turn has fueled the demand for IVD Contract Manufacturing Services. There are several types of SARS-CoV-2 and COVID-19 related IVDs – diagnostic tests, serology/antibody and other adaptive immune response tests and tests for management of COVID-19 patients.

Government Support to Scale Up Production of IVD Kits in the Wake of Covid-19 Spurs the IVD Contract Manufacturing Services Market

Regulators enacted several new measures to expedite access to IVD kits. Regulators issued guidance to assist and clarify new or relaxed requirements under the emergency provisions for IVDs to help accelerate their development. Expedited approval processes for IVDs played a pivotal role in combating the Covid-19 pandemic.

“Recently launched point-of-care IVD instruments and devices are convenient to use and efficient. Manufacturing of specific PoC devices presents manufacturers (OEMs) with a variety of design and manufacturing challenges, which is addressed by IVD CDMOs.” Director, Leading IVD OEM, United States

Competitive Landscape Analysis: IVD Contract Manufacturing Services Market

The global IVD Contract Manufacturing Services market is marked by the presence of key players such as Jabil, STRATEC, Celestica, Sanmina Gerresheimer, Phillips-Medisize, Plexus, Röchling, KMC Systems, Cenogenics Corporation, Savyon Diagnostics, Nova Biomedical, Cone Bioproducts, Invetech, Inc., Thermo Fisher Scientific Inc., Avioq, Inc., LRE Medical, Coris BioConcept, Meridian Bioscience, Inc., Maxim Biomedical, Inc., among others.

Get Customized Report on IVD Contract Manufacturing Services Market @ https://meditechinsights.com/ivd-contract-manufacturing-services-market/

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