CMOs Face Pressure to Scale Up Production of Automated Instruments to Meet Rising Demand for COVID-19 Testing
Dublin, Nov. 24, 2020 (GLOBE NEWSWIRE) -- "The Global Full Product Development CMO in the IVD Industry, 2020" report has been added to ResearchAndMarkets.com's offering.
Full product development IVD CMO comprises companies that partner with OEMs and support them in the development of IVD devices, ranging from concept to commercialization. IVD companies are continuously looking at new ways to optimize resources due to rising cost pressures and regulatory complexities, prompting industry participants to adopt innovative, integrated business models. CMOS are positioning themselves as one-stop-shop solution providers as opposed to the traditional functional service provider model, creating a mutually beneficial symbiotic relationship between OEMs and CMOs in the IVD industry.
The IVD contract manufacturing market is highly fragmented and witnessed a growth rate of 8.5% in 2019. The publisher expects this segment to change significantly over the next few years since the majority of large IVD OEMs are focused on assay development, which is facing competition and capacity constraints due to stringent quality and regulatory requirements, strict delivery timelines, the need for good manufacturing practices, and delivery scale. OEMs are also increasingly outsourcing the design and manufacturing of instruments that perform diagnostics tests, heightening the competition among IVD CMOs to provide holistic services.
OEMs face challenges in meeting the rising demand for assays, reagents, and kits for COVID-19 testing, in turn, placing pressure on CMOs to scale up production of automated instruments with high throughput. The key strategic imperative for IVD instrument CMOs is to develop capabilities to manufacture simple, rapid, miniature, easy to use, automated, decentralized, and connected next-generation IVD devices with higher throughput rates to meet the ever-rising test demand. This is expected to boost competition among IVD CMOs to provide holistic services and become strategic partners to OEMs.
The report reveals the market positioning of companies in an industry using their Growth and Innovation scores, as highlighted in the report methodology. The document presents competitive profiles on each of the companies in the report based on their strengths, opportunities, and a small discussion on their positioning. The publisher analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the report, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Topics Covered:
1. Strategic Imperative and Growth Environment
- Strategic Imperative
2. Growth Environment
- Global Full Product Development CMO in the IVD Industry
- Competitive Environment
3. Companies to Action
- BIT Analytical Instruments GmbH
- Cambridge Consultants
- EKF Diagnostics
- Hitachi High-Technologies Co., Ltd.
- Invetech
- KMC Systems
- Nova Biomedical
- Phillips-Medisize
- Plexus Corporation
- Stratec SE
- Tecan
- Ximedica
4. Strategic Insights
5. Next Steps: Leveraging the Research Radar to Empower Key Stakeholders
- Significance of Being on the Research Radar
- Research Radar Empowers the CEO'S Growth Team
- Research Radar Empowers Investors
- Research Radar Empowers Customers
- Research Radar Empowers the Board of Directors
6. Research Radar Analytics
- Benchmarking Future Growth Potential
For more information about this report visit https://www.researchandmarkets.com/r/ccrjus
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