The global bioinformatics in IVD testing market is anticipated to witness growth over the forecast period. Factor such as the growing prevalence of cancer and other rare life-threatening disorders such as HIV, increased research and development, the cost-effectiveness of genomic sequences are the growth propellers for bioinformatics in vitro diagnostics (IVD) testing market. The collaboration of bioinformatics IVD companies with IT companies to design specific software for the diagnosis of the inherited or noncurable diseases is another vital driver for this market. The bioinformatics based diagnosis made a significant contribution to cancer diagnosis and its therapy management. It also allows the detection of tough culture pathogens (viruses or bacteria) to understand the infection epidemiology. Bioinformatics in IVD testing market diagnoses inherited diseases, common disorders and also indicates the initiation of malignancy.
The global bioinformatics in IVD testing market is segmented on the basis of application and region. The market is segmented into bioinformatics based diagnosis for cardiovascular diseases, chronic diseases, diabetes, and cancer. Other diseases that can be diagnosed using the bioinformatics IVD testing system are Alzheimer’s disease, Parkinson’s disease, gastrointestinal disorder, genome sequencing, mass spectroscopy diagnosis, arthritis, tissue-based diagnosis, blood-based diagnosis, and psychiatric disorders.
Various IT companies such as IBM collaborates laboratory diagnosis vendors and the manufacturers for designing specific software for a specific disease condition that will complement human-based diagnosis during the forecast period. Different IT-related organizations enter into alliances with research institutes that provides a platform for biomedicines for novel and cost-effective drugs for incurable disorders. One such technological innovation is IBM’s supercomputer named “Watson” which uses a stored database and recommends suitable treatment on a patient to patient basis.
On the basis of region, the market for temperature monitoring devices is segmented into North America, Europe, Asia-Pacific, and RoW. North America holds the largest market share in this market presently due to the increase in health awareness and the rise in patient expenditure. Asia-Pacific is expected to capture the market in the forecast period due to the rising prevalence of cancer and other rare diseases.
The key players of bioinformatics in IVD testing market are Affymetrix, AssureRx Health Inc, Aperico Technologies Inc, Biodesix Inc, Bioreference Laboratories Inc, CardioDx Inc, Datech Oncology, Life Technologies, Pathogenica, Medtronic Inc, Signal genetics and One Lambda Inc.
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The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.