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In Vitro Diagnostics Market Size Worth $113.9 Billion By 2027: Grand View Research, Inc.

January 25, 2021 Published by TheFintechBuzz.com

The global in vitro diagnostics market size is expected to reach USD 113.9 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2021 to 2027. The growth is driven by the growing geriatric population and technological advancements in diagnostics that are supporting its adoption.Technological advancements in terms of accuracy, portability, and cost-effectiveness are expected to be one of the high impact rendering drivers of this market. For instance, in June 2017, Agena Bioscience launched the MassARRAY system integrated with CHIP Prep Module in Europe. The system was marketed as a CE-IVD product under Directive 98/79/EC. Moreover, Real-Time Polymerase Chain Reaction (qPCR) is one of the fastest-growing application segments of the in vitro diagnostics (IVD) market.

Key suggestions from the report:

Molecular diagnostics is expected to witness the fastest growth over the forecast period
High use of reagents in IVD testing, high demand for over-the-counter diagnostic tests, and increase in adoption of these tests in nonmedical facilities, such as home, are some of the factors that are driving the growth, providing it a clinical advantage over other IVD tests
Reagents held the largest market share in 2020 owing to the increasing demand for genetic testing and availability of technologically advanced cancer diagnostic tests in countries with unmet clinical needs, such as India and Middle East & Africa
The growing availability of CE-IVD certified kits globally to diagnose and screen patients during epidemic situations is expected to boost the growth of reagents and instruments segments
Key players are updating their range of testing options for qPCR instruments by undertaking R&D initiatives for the development of kits that target emerging diseases, or by entering into agreements with other kit manufacturing companies

Read 200 page research report with ToC on “In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product, By Application, By Technology (Immunochemistry, Molecular Diagnostics), By End-use, By Region, And Segment Forecasts, 2021 – 2027” at: https://www.grandviewresearch.com/industry-analysis/in-vitro-diagnostics-ivd-market

The IVD market is highly competitive in nature. Consequently, manufacturers are required to improvise products in terms of specificity, accuracy, precision, speed, and other parameters, in order to gain an advantage over previously marketed products.

A steady rise in consumer awareness about diagnosing infectious diseases and increasing disease prevalence, especially in developing and under-developed countries, are driving the market penetration of the products. For instance, in February 2019, Abbott received CE Mark for DETERMINE HBSAG 2 test for detection and diagnosis of hepatitis B surface antigen.

Organizations promote funding to support R&D and product development exercises pertaining to clinical diagnostics. For instance, Vela Diagnostics received USD 225,000 as Biomedical Advanced Research and Development Authority (BARDA) fund to develop COVID-19 tests. Moreover, the introduction of the American Health Care Act of 2017 is expected to improve the healthcare of the U.S. Rising government initiatives pertaining to the importance of IVD will fuel market growth.

The presence of effective technologies such as molecular diagnostics is expected to reduce the threat of substitutes. Moreover, their contribution in the field of genetic testing is of paramount importance and, therefore, experience a low threat of substitutes. However, high prices of these tests are expected to encourage patients to shift to external substitutes.

Major players in the market are Roche Diagnostics; Becton Dickinson; Abbott Laboratories; Siemens; and bioMerieux, which are well-established. Therefore, local companies and new organizations have little scope to enter the market and ensure sustainability. However, companies such as Danaher Corporation and Hologic have successfully excelled in the market through mergers and acquisitions. The seed capital required is high.

Grand View Research has segmented the global in-vitro diagnostics market on the basis of product, technology, application, end-use, and region:

In Vitro Diagnostics Product Outlook (Revenue, USD Million, 2016 – 2027)
- Instruments
- Reagents
- Services
In Vitro Diagnostics Technology Outlook (Revenue, USD Million, 2016 – 2027)
- Immunoassay
  - Instruments
  - Reagents
  - Services
- Hematology
  - Instruments
  - Reagents
  - Services
- Clinical Chemistry
  - Instruments
  - Reagents
  - Services
- Molecular Diagnostics
  - Instruments
  - Reagents
  - Services
- Coagulation
  - Instruments
  - Reagents
  - Services
- Microbiology
  - Instruments
  - Reagents
  - Services
- Others
  - Instruments
  - Reagents
  - Services
In Vitro Diagnostics Application Outlook (Revenue, USD Million, 2016 – 2027)
Infectious Disease
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Disease
- Drug testing
- Others
In Vitro Diagnostics End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Hospitals
- Laboratories
- Home Care
- Others
In Vitro Diagnostics Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
  - U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
  - Italy
  - Spain
  - Russia
- Asia Pacific
  - Japan
  - China
  - India
  - South Korea
  - Singapore
  - Australia
- Latin America
  - Brazil
  - Argentina
  - Mexico
- Middle East & Africa
  - South Africa
  - Saudi Arabia
  - UAE
List of Key Players of In Vitro Diagnostics Market
- Abbott
- Danaher
- bioMérieux SA
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson and Company
- Siemens Healthineers AG
- QIAGEN
- Quidel Corporation
- F. Hoffmann-La Roche AG
- Sysmex Corporation
- Charles River Laboratories International, Inc.
- Quest Diagnostics
- Agilent Technologies

Find more research reports on Clinical Diagnostics Industry, by Grand View Research:

Infectious Diseases In Vitro Diagnostics Market – The global infectious diseases in vitro diagnostics market size was valued at USD 16.3 billion in 2019 and is projected to register a CAGR of 6.2% from 2019 to 2027.
U.S. In Vitro Diagnostics Market – The U.S. in vitro diagnostics market size was valued at USD 25.32 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027.
Point-of-Care Molecular Diagnostics Market – The global point-of-care molecular diagnostics market size was valued at USD 1.72 billion in 2018 and is anticipated to expand at a CAGR of 14.4% over the forecast period.

Realtor.com® Selects Qualia to Deliver Simplified Digital Home Closings

January 25, 2021 Published by TheFintechBuzz.com

Realtor.com^® and Qualia today announced a new relationship that will give agents and their clients a unique ability to collaborate online in real time with their title provider of choice as part of a fully integrated digital closing experience.

The experience will first launch next month as a pilot test in seven states across the country, followed by a nationwide launch later this year. The seven states are Florida, Maryland, Ohio, New Jersey, Pennsylvania, Texas, and Virginia.

“Realtor.com^® believes an open marketplace approach that offers choice, control, transparency and efficiency creates the best experience for home buyers, sellers, and real estate professionals,” said Move Inc. CEO David Doctorow. Move, Inc., is a subsidiary of News Corp and operates realtor.com^®. “Our relationship with Qualia is a great example of this. We’re empowering agents by providing options to help them get their clients all the way through closing, as we simplify the process of buying and selling homes for people throughout their real estate journey.”

Agents in realtor.com^®‘s ReadyConnect Concierge℠ network will be able to use their existing ReadyConnect℠ Agent app to select one of the many highly rated title partners who are powered by Qualia’s platform. Agents can also introduce additional title partners to the network through the ReadyConnect Concierge℠ app and web experience. If they choose, agents can continue to work outside of the app with any title provider outside of the Qualia platform.

If they work with a title provider in the Qualia network, agents and their clients can automatically manage and review documents, track progress in real time, and communicate with the chosen title company through the secure Qualia Connect platform. The platform’s security features also help protect buyers from phishing and fraud; cyber crime in real estate transactions has been increasing rapidly over the past few years, according to FBI reports. Consumers can sign their closing documents, and in select states some participants can have them remotely notarized with Qualia’s fully integrated Remote Online Notarization tool, as well.

In states that allow fully remote closings, agents who give their clients the ability to e-close by working with title providers that embrace modern, digital solutions can set themselves apart from the competition. In an October 2020 Qualia Homebuyer Sentiment Survey, more than 60 percent of survey respondents said they wanted a fully digital closing experience, and more than half of home buyers chose their real estate agent based on a differentiated level of service around closing.

Title and escrow providers in the Qualia network can grow their business with the increased exposure to the 140,000+ agents in realtor.com^®‘s ReadyConnect Concierge℠ network. They’ll also save time and increase efficiencies by collaborating with agents and consumers on one secure, cloud-based closing platform.

“The role that each participant in the home buying journey serves is evolving faster than we’ve ever seen,” said Qualia CEO Nate Baker. “Realtor.com^® is a Proptech leader that has consistently remained ahead of the curve, empowering its agents to deliver a differentiated home buying experience. We are excited to help them continue this journey alongside our existing network of Qualia powered title and escrow partners across the country.”

Realtor.com^® is offering a webinar on February 18 in advance of the pilot tests; visit https://register.gotowebinar.com/register/6421853105671680013 to register.

Title providers can learn more about Qualia and join the network at https://succeed.realtor.com/title-escrow-advertising.

Visit marketing.realtor.com/concierge to learn more about the ReadyConnect Concierge℠ network and how realtor.com^®‘s referral program can help agents and brokers build their business. Unlike some other success-based models, ReadyConnect Concierge℠ is open to all brokers and their agents who want to join – as market conditions allow – and requires no upfront expenses.

Fire & Flower Expands Third-Party Gift Card Program to Additional Retail Locations including Circle K Stores in Ontario, Alberta and Saskatchewan

January 25, 2021 Published by TheFintechBuzz.com

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) today announced that shoppers looking to give the gift of choice can now purchase Fire & Flower gift cards at additional third-party retailers including almost 300 Circle K locations in Ontario, Alberta and Saskatchewan.

Fire & Flower gift cards are sold in Fire & Flower locations and select third-party retailers. This expansion of Fire & Flower gift card availability provides greater opportunities for customers to share the gift of cannabis in a convenient way. Fire & Flower gift cards are redeemable at any Fire & Flower location as well as online at https://fireandflower.com for Fastlane click-and-collect orders.

“Fire & Flower gift cards reflect our continued investment in our relationship with our consumers,” said Trevor Fencott, Chief Executive Officer of Fire & Flower. “Each gift card represents a sincere moment of connection between our customers and someone who is close to them. Our commitment to digitally enabled and convenient retail experiences is an important part of our strategy as a tech-enabled, differentiated brand retailer.”

The gift card market continues to grow in Canada. Recent market research reveals that over 70% of Canadians are still buying their gift cards in-store, either from a large, diversified retail store or their merchant of choice. Customers who use gift cards frequently spend more than their value.

Fire & Flower gift cards are available in denominations from $25 to $100. A full list of the locations for gift cards, can be found at the company’s website at https://fireandflower.com.

USI Money Advances Cross-border Payments through its Raas Product

January 25, 2021 Published by TheFintechBuzz.com

USI Money, a leading cross-border remittance and Forex provider, today announced the successful implementation of its Affiliate programme following a pilot scheme launched only months earlier.

Initially launched as a pilot scheme due to the increase of users reverting to online payment solutions during the pandemic, it proved successful leading the team to bring forward full implementation of the product.

“By launching this incentive campaign following a sharp rise in registrations and interest, we hope that the continued innovative programmes we are introducing will deliver exponential growth to the company. We have continued to grow as a brand and expand our reach to customers,” said Khaleeq Taimuri, Director of USI Money. He also stated, “By working in the current challenging COVID climate we have been able to adapt quickly and efficiently which has enables us to significantly expand our operations and client reach.”

SH Capital Ltd launches in Dubai to empower SMEs with global banking services

January 21, 2021 Published by TheFintechBuzz.com

A new digital treasury services management provider SH Capital Ltd (SHC), launches in Dubai today with a mission to empower small and medium sized enterprises (SMEs and MMEs) by offering world class global banking services, asset management, FX hedging solutions, investment products and services.

SH Capital is a subsidiary of parent company Stanhope Financial Group, which launched with $3.5m funding in November last year. In December, the group also announced the launch of its EU headquarters in Lithuania after obtaining its Electronic Money Institution licence.

The independent fintech firm, which has received its in-principle approval Cat 3A regulatory licensing from the DFSA, Dubai, is set to begin trading as of end of Q2’20, with a mission to help companies meet their financial goals during the Covid-19 recovery.

SHC will act as an intermediary for clients, helping them to access leading and global tier one cash investment products. The Stanhope team of leading industry experts will also advise on commercial paper, money market funds, futures, options, ETFs and FX hedging solutions. Additionally, SHC has already partnered with a number of global counterparties, exchanges and e-trading venues to provide liquidity in the equity, FX, fixed income and commodity markets for all clients.

In spite of recent market volatility due to Covid-19, SHC are also committed to providing bespoke financial strategies for companies as matched principle, designed to meet their risk tolerance and position them ahead of the curve for both short and long-term financial goals.

To do this, SHC leverages the latest RegTech and blockchain technology, which helps to significantly reduce CBR risk and service friction, whilst maintaining a fast, secure and transparent service. More specifically, AML, KYC, trade monitoring and a distributed ledger technology are just some of the technology utilised for an efficient and safe execution of service.

Khalid Talukder, Managing Director, SH Capital Ltd, said:

“Dubai is quickly being recognised as a global hub of fintech and innovation, being home to some of the fastest growing, most exciting firms on the planet. With postponed Dubai Expo launching in the Autumn of 2021, we are perfectly placed to support these business to maximise this global showcasing opportunity.

“Many of these businesses struggle to gain access to efficient and high quality digital asset management and investment products globally to support their treasury activities. We aim to provide a fully digital service offering via our platform allowing easy access to various cash asset management products, services and investment products that they need in order to thrive in an increasingly competitive global world.

“SH Capital Ltd will change all that, reconnecting these fast-growing firms mid-market corporates which are the backbone of GCC commerce with the products offered by Tier 1 financial institutions, as well as offering treasury consultancy to take them to the next level.

“With over 70 years combined experience in our team of financial professionals, shared with quantitative-driven data insight, regulatory technology and blockchain, we are confident we can provide a consistent treasury management service, free from delays, security issues and unfair charging, to all firms in need of assistance during this difficult Covid period and beyond.”

Kevin von Neuschatz, Group CEO, Stanhope Financial Group, said:

“We’re excited to have received our operating licence and formally launch SH Capital Ltd in Dubai. Our on-the-ground team of experts will begin trading immediately, providing ambitious businesses across the region with tier one banking and payments services to enable rapid growth during an incredibly challenging time.

“This is the first of many expansion plans for the Stanhope Financial Group, with similar launches in Europe and other key regions in the first part of 2021.”

Emerging from COVID: An Opportunity to Reinvent Credit for Latino-Owned Businesses

January 21, 2021 Published by TheFintechBuzz.com

The Q4 2020 Latino Small Business Credit Survey edition is a review of 2020 highlighting credit trends relating to Latino-Owned Businesses (LOBs). Based on our report findings, Camino Financial offers policy guidance for the new Biden-Harris administration to promote the financial inclusion of LOBs.

The report shows the lack of PPP and other government relief programs reaching the Latino business community. Only 2.5% of LOBs without a pre-existing relationship with a lender received government relief, compared to 16.5% for those with a pre-existing lender relationship.

In addition, the report shows the emergence of Haves and Have-Nots within the LOB community. The survey shows that lenders are targeting larger businesses with longer operational history and higher credit scores. This asymmetric approach to lending creates barriers for LOBs that skew lower on their size and credit history, preventing them from obtaining capital.

In 2019, LOBs based in Low to Moderate-Income (LMI) areas were 10.6% smaller and generated $25.4K less than those based in non-LMI areas.
Whereas in 2020, LOBs based in LMI areas were 25.1% smaller and generated $64.7K less than those based in non-LMI areas.

Based on report findings, Camino Financial recommends the following:

Define “micro businesses” and design loan programs around this large cohort: When LOBs apply and qualify for PPP or other government loans, they often do not receive the full amount requested, and must look to private lenders to bridge the difference.

In Q4 2020, more than 85% of LOBs earned less than $300k in annual revenue, roughly half the size relative to the national average.

Target relief in LMI areas: In order for lenders to gain confidence in lending to more sectors, the Biden administration must focus on recovery for businesses in LMI areas that are historically left out.

87% of LOBs operate in low to moderate-income (LMI) areas.

Create simple onboarding and training programs: Offering the appropriate credit and educational experience will increase creditworthiness and decrease the negative bias effect against smaller LOBs.

Education and training raise loan approval rates by 6.6x according to our annual credit survey.

8K Miles Software rebrands itself as SecureKloud Technologies Limited

January 21, 2021 Published by TheFintechBuzz.com

8K Miles Software Services Limited, a leading global IT Business Transformation, Secure Cloud Solutions and NextGen Managed Services Provider has rebranded as SecureKloud Technologies Limited. The new name reflects the company’s leadership position and strength in the cloud transformation business with a strong focus on security through a comprehensive suite of offerings.

SecureKloud Technologies will continue to remain focused on its core competencies of technology, domain expertise, innovation and a customer-centric commitment while looking to expand across geographies in Europe and Asia-Pacific and industry verticals like BFSI. On the back of the success in offering cloud computing and security solutions to clients through leading edge cloud-based transformation platforms, the company has enhanced its position in the market through equally compelling solutions in Blockchain, IDAM and Data Engineering.

Creating a brand identity with a new name, logo and website, the company aims to advance its global cloud footprint through niche offerings with a vigorous customer-centric focus. With increasing emphasis on an entrepreneurial mindset, the company envisions the delivery of cutting-edge cloud solutions and services through a scalable and cost-effective product portfolio. The core operational credo of SecureKloud Technologies would be rigour, seamless service delivery and continued focus on innovation.

“A revamped brand identity is testament to the fact that we are the same trailblazing company we were when we got into the cloud business 12 years ago. We are going to differentiate ourselves by the fact that we are a mid-sized company with the aura and energy of a startup and stability of a large company, offering the best of both worlds to our customers, employees and partners. An exciting brand launch reflects our offerings more appropriately to our customers and prospects as we retain our technology leadership position by continuing to invest in new products to enhance our market competitiveness,” stated Suresh Venkatachari, Chairman & CEO, SecureKloud Technologies Limited.

8K Miles Software rebrands itself as SecureKloud Technologies Limited

January 21, 2021 Published by TheFintechBuzz.com

Former Investment Banker and Head of Investment Strategy at Man Group joins Fintech PremiaLab

January 20, 2021 Published by TheFintechBuzz.com

PremiaLab, has today announced the appointment of Mr. Fest as CFO as part of its expansion global expansion. Mr. Fest served as Head of Investment Strategy at Man Group, and held senior positions at Barclays Investment Bank and Mckinsey.

Previously, Mr. Fest was CFO of Fintech Ebury from May 2019 (majority aquired by Banco Santander) and Molo Tech, the UK’s first digital mortgage lender.

Mr. Fest has over 15 years’ investment banking experience in asset management, capital markets and Fintech. He will be responsible for further supporting the firm’s growth in multiple locations across Asia, Europe and the US.

Adrien Geliot, Co-Founder & Chief Executive Officer of PremiaLab said: “We are delighted to welcome Martin to the team. His extensive industry expertise will allow us to further structure our business in multiple locations globally and deploy our ambitious growth strategy.”

The hire follows multiple senior appointements within PremiaLab including John Macpherson former Managing Director at Goldman Sachs, Nomura and Citibank.

Recognized as the reference for data and risk analytics on quantitative strategies, PremiaLab’s capital markets infrastructure is used by leading asset managers, insurance companies and pensions funds to accelerate their digitalization to enhance performance and risk controls while reducing costs.

Mr. Fest holds an MBA from INSEAD and a diploma in engineering, finance and controlling from Technische Universität Braunschweig.

2021 a Tipping Point for Institutional Investors and Digital Assets

January 20, 2021 Published by TheFintechBuzz.com

HashKey Group, a leader in digital asset management and blockchain solutions, predicts that more than 50% of institutional and professional investors will have exposure to digital assets in their portfolios by year end. This would mark 2021 as a tipping point where investors go from evaluating the opportunity to acting. Large-scale government spending worldwide in the pandemic to support economic recovery and the evolving global regulatory framework are the primary reasons cited by investors diversifying into this growing asset class.

HashKey Group recently published its report entitled “Institutional Investor and Digital Assets. First Mover Advantage: What Early Adopters Have Learned” which shares insights from in-depth interviews conducted with institutional investment leaders from around the world.

According to the report, institutional investors expressed fear that they may miss out on potentially exponential growth if they do not adopt digital assets now. They cited the long-term investment opportunities that exist in many forms of asset tokenization, ranging from virtual currencies to infrastructure such as platforms and applications — and growth – as among the reasons to consider the asset class. The total market capitalization of digital assets is just US$260 billion, relatively small compared to other traditional assets[i].

However, globally the digital asset market has tremendous growth potential, and is expected to grow from US$3.4 billion in 2020 to US$6.0 billion by 2025, at a CAGR of 12.0%[ii]. In the HashKey Group report, some first mover investors highlighted the value of investing early to gain knowledge and experience to prepare for the wave.

Michel Lee, Executive President of HashKey Group said, “As an indication of the interest institutional investors have in this asset class, the inflow of institutional funds has contributed to the fluctuation of the prices of some virtual currencies in recent months.”

Lee said, “However, the digital asset class spans much more than just virtual currencies. There are tokenized equities and tokenized bonds and digital economy tokens. Institutional investors are also interested in these subcategories. Our report identifies corporate risk aversion, evolving regulatory frameworks, and perceived lack of supporting infrastructure as factors they consider carefully before adding exposure to digital assets to their portfolios.”

The Securities and Futures Commission (SFC) in Hong Kong announced in November 2020 that it will regulate all digital asset exchanges and trading to prevent market manipulation and money-laundering activities.

Angelina Kwan, Chief Operating Officer of HashKey Group said, “Many institutional investors are themselves regulated and have a fiduciary duty to fulfill. The new SFC regulations will enable more transparency, since only licensed operators can offer regulated virtual assets services and only professional investors can participate. As infrastructure is developed and regulation increases, institutional investors will become more confident about digital asset investment.”

Kwan adds, “In addition to digital currency, custody, trading platforms and security solutions are other digital asset investment opportunities that are more familiar to institutional investors. The development of the digital asset infrastructure in many ways mirrors the way traditional financial services infrastructure grew and matured. That trend makes institutional investors more comfortable as they consider digital asset investment opportunities.”

The Greater Bay Area (GBA) integration is another strategic initiative that could help to accelerate the adoption of digital assets by institutional investors. Hong Kong, as an international financial hub, plays a critical role in facilitating global trading, and is stimulated by innovative Chinese technology and payment solutions. For example, China selected Hong Kong to launch the test for its digital yuan (digital version of China’s fiat currency), because it is the “most open and international city” in the GBA[iii]. An enhanced regulatory framework now being put in place here in Hong Kong will help nurture the digital assets ecosystem in the region.

Michel Lee said, “2021 is a strategic time for institutional investors to consider adding exposure to digital assets in their portfolios. Concern about the long-term future is redoubling investor interest in uncorrelated, more diversified asset classes. Once regulations are established and clarified, institutional investors can leverage Hong Kong as a strategic hub to capture the opportunities. To maximize their potential, they should work with professional partners with proven expertise and track records.”

Author: TheFintechBuzz.com

In Vitro Diagnostics Market Size Worth $113.9 Billion By 2027: Grand View Research, Inc.

Realtor.com® Selects Qualia to Deliver Simplified Digital Home Closings

Fire & Flower Expands Third-Party Gift Card Program to Additional Retail Locations including Circle K Stores in Ontario, Alberta and Saskatchewan

USI Money Advances Cross-border Payments through its Raas Product

SH Capital Ltd launches in Dubai to empower SMEs with global banking services

Emerging from COVID: An Opportunity to Reinvent Credit for Latino-Owned Businesses

8K Miles Software rebrands itself as SecureKloud Technologies Limited

8K Miles Software rebrands itself as SecureKloud Technologies Limited

Former Investment Banker and Head of Investment Strategy at Man Group joins Fintech PremiaLab

2021 a Tipping Point for Institutional Investors and Digital Assets

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