IVD Market Sees Significant Decline in Sales as COVID-19 Emergency Ends: GlobalData, ET HealthWorld

IVD Market Sees Significant Decline in Sales as COVID-19 Emergency Ends: GlobalData, ET HealthWorld

LONDON: The World Health Organization (WHO) announced on May 5 that COVID-19 is no longer a global emergency.This is a relief for the public, but for many medical device company Companies that have made billions of dollars from the pandemic through tests and medicines say the end of the pandemic will have an even greater impact on sales declines. global data.

Serena Yu, Medical Analyst, global datasaid, ‚ÄúCompanies have reported declining sales of COVID-19 products in the last two quarters. Following the declaration of an epidemic of the disease virus and the cancellation of the emergency use authorization for the new coronavirus test, IVDs Businesses are scrambling to minimize losses. “

Currently, 132 of the 310 clinical trials in infectious diseases are ongoing. IVDs Development of devices and tests for new coronavirus infections. GlobalData predicts that the number of new COVID-19 tests on the market will decline in the next few years. Instead, existing tests are improved. This improves the specificity and sensitivity of the test, multi-parameter test with existing technology.

Yu said, “In January 2023, many companies involved in COVID-19 testing, including Danaher, Abbott, LabCorp, and BD, issued statements about the significant decline in COVID-19 testing. The pandemic is no longer The decline is likely to be even more pronounced in the coming months as it has been announced that it is not an emergency, as sales are likely to peak in the fall and winter. respiratory disease The season begins again. “

  • Published May 9, 2023 at 1:21 PM (IST)

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