Integrated In Vitro Diagnostics Industry Association Officially Launches on the 30th... Leading Industry Development

In Vitro Diagnostic Companies Association and Korea In Vitro Diagnostic Medical Devices Association Merge and Launch Together

The Korea Bio Association announced on the 27th that the In Vitro Diagnostic Companies Council and the Korea In Vitro Diagnostic Medical Device Association under the association will be integrated and launched on the 30th. The integrated council plans to take steps to develop and enhance the capabilities of the domestic in vitro diagnostic industry.

Logo of the In Vitro Diagnostics Industry Association. [Image provided by Korea Bio Association]

The Korea Bio Association has been operating the In Vitro Diagnostic Companies Council, composed of 51 domestic manufacturers, under the association since 2011 to promote the development of the in vitro diagnostic industry. The council currently has a total of 84 member companies, including 38 listed companies. To revitalize the domestic in vitro diagnostic market and strategize for global expansion, the council has held an annual in vitro diagnostic forum and discussed policy improvements and support measures with related government agencies.

The Korea In Vitro Diagnostic Medical Device Association was established on April 30, 2019, alongside the enactment of the In Vitro Diagnostic Medical Device Act.

Both organizations agreed on the need to lead the domestic in vitro diagnostic industry through a merger due to the COVID-19 pandemic response, changes in the European In Vitro Diagnostic Regulation (IVDR), and the rise of domestic-first policies emphasizing the need to strengthen international competitiveness. After merger discussions among executives, a task force (TF) was formed to discuss the merger details. The results were communicated to member companies, and with their consent, the final integration was decided.

The integrated association plans to establish a cooperative operational system, improve management methods, and strengthen cooperation to support the growth of in vitro diagnostic companies through a central role.

Go Han-seung, Chairman of the Korea Bio Association, stated, "We expect this integrated launch to be an opportunity to take the growth of in vitro diagnostic companies to the next level," adding, "We will strive to produce tangible results through active cooperation to ensure the successful establishment of the integrated association."

Meanwhile, the council plans to hold the integrated launch event at 2 p.m. on the 30th at the CCMM Building in Yeouido, Yeongdeungpo-gu, Seoul.