The BIVDA Market Audit for 2021 showed the huge impact of Coronavirus testing on the UK market size for IVDs, even without capturing the billions of pounds spent by government directly on Lateral Flow Tests (LFTs). Such was the growth in pandemic-related testing that the usual ranking of top IVD companies by revenues was turned upside down, with Cepheid leapfrogging Siemens into third place.
Overall, the market increased by 23% (£233m) to reach £1.4bn including glucose self-testing as recorded in government figures. A number of specific tests became sought after for improved assessment of Covid patients, while many tests required for elective procedures and other diagnoses declined as the general level of activity was reduced. It remains to be seen how quickly these sectors will recover and how dramatically Covid test volumes will decline during 2022.
A summary report on the BIVDA MA findings is available to participants in the audit on request. If you would like your company to participate, please contact me to discuss how to go about gaining access to this valuable source of market intelligence.
22 June 2022