Conor Stewart
Research expert covering health & pharmaceuticals in the UK & Europe
Get in touch with us nowIn vitro diagnostics
IVD accounted for the segment with largest revenue share within the global medical technology industry. In 2021, IVD accounted for nearly a fifth of the total global revenue in the medical technology industry. The COVID-19 pandemic affected years of 2020 and 2021 saw worldwide revenue in the industry increase significantly as the pandemic caused a huge demand for quick and reliable tests. In 2019, worldwide revenue was 59 billion euros. In 2020, revenue jumped to 85 billion euros before increasing again in 2021 to 97 billion euros.Importance of preventative screening
Depending on a person’s age, gender, and the country they live in they could be recommended to be screened for certain cancers. The chance of surviving cancer is higher the earlier a tumor is detected. Furthermore, the tumor could also be fairly small when detected early and preventative screenings can catch cancers before symptoms appear. There were worries that due to the COVID-19 pandemic lowering willingness to attend in-person appointments alongside the general strain that the pandemic put on health systems around the world that rates of cancer screenings would decrease. In England, the share of women who were screened for cervical cancer in 2021 was at its lowest rate for eight years. However, on the other hand, in Sweden the share of women who had a cervical cancer screening was at an all-time high in 2021.
