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The COVID-19 detection concept is making a comeback! IVD may break out

Recently, COVID-19 mutant (Omicron) was discovered in southern Africa, and then spread rapidly in South Africa and around the world. The mutant has more mutations and faster transmission than delta virus, which has attracted much attention in the world. The vaccine giant Moderna CEO predicted that the existing vaccine would be far less effective than the early COVID-19 in dealing with it, and that large scale production of the new vaccine may take months. Under the background that the protective effect of vaccine may decline, it may be the most effective epidemic prevention method to isolate timely the source of infection through COVID-19 detection. Therefore, the support of COVID-19 detection reagent is indispensable for epidemic resistance at home and abroad. The implementation of home testing at home and abroad has also imperceptibly changed people's understanding and consumption concept of testing products. It indicates that in vitro diagnosis (IVD), especially Point-Of-CareTesting (POCT) in the subdivided field of IVD, will enter thousands of households gradually in the future. This has greatly promoted the trend of building an ecological closed loop of IVD and daily life health management in the industry. And this change will take place on a global field.   POCT is the future trend of IVD industry   What is POCT? What is the difference and relationship between it and IVD? There are many kinds of IVD products which are mainly used in hospitals. However, the traditional IVD products are not convenient and even can’t be used in many scenarios where medical personnel is absent, such as policeman checking drunk-driving, the home blood glucose test, and the health status detect of visitors at the customs. A new IVD equipment is required. It may not be able to meet the needs of the rapid detection of hundreds of products at one time by high-level equipment  in the high-speed inspection center. On the contrary, it will reached the other end: the equipment is very small and there are not many items that can be tested at one time. This is a popular product in the IVD industry recently, called POCT. Its full English name is Point-Of-CareTesting. POCT is a rapidly developing subdivision field in the world. According to the Global POCT Outlook report, the global market size in 2018 was about US $24 billion, with a compound growth rate of more than 8% from 2013 to 2018. Among them, except for the blood glucose monitoring market, which accounts for a large proportion of the POCT market, the growth rate of several other segments maintained a high growth rate of more than 10%. The world POCT market is mainly concentrated in the United States and Europe. It is expected that the size of the POCT market will exceed US $27 billion in 2020. The share of Asia Pacific POCT market in the global market is expected to continue to increase. According to BCC Research data, in 2018, the market scale of POCT in the Asia Pacific region was about US $5 billion, accounting for about 25% of the global market share; It is estimated that the Asia Pacific POCT market will exceed US $8 billion by 2023, accounting for 34% of the world.   At present, according to the statistics of relevant institutions, the penetration rate of IVD in China is significantly lower than that in developed countries. The penetration rate of POCT in developed countries such as Britain, America, Germany, France and Canada is generally about 30%, and it is still on the rise. In 2018, the penetration rate of POCT in the United States was about 30%, which is expected to grow steadily in the future and reach about 36% by 2023. According to Frost & Sullivan data, the penetration rate of China's POCT in 2018 was about 14.7%, lower than half of that of the United States. In the next five years, China's POCT market is expected to grow rapidly at the rate of 20% - 25%, and the penetration rate of China's POCT market to IVD will grow fastest in the world. In 2023, the penetration rate of POCT to IVD will increase most significantly, and will reach about 20% in 2023.   Source: Securities Star
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The COVID-19 detection concept is making a comeback! IVD may break out
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