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Revvity, Inc. RVTY announced the launch of its new IDS i20 analytical random-access platform from EUROIMMUN. Per management, it is expected to enable full automation of chemiluminescence immunoassays (ChLIA).
The IDS i20 instrument is equipped with the ability to process up to 140 tests per hour (assay dependent) and is the latest addition to RVTY’s well-established IDS i-device series.
The latest product availability is expected to boost Revvity’s Immunodiagnostics product line under the broader Diagnostics segment.
Likely Trend of RVTY Stock Following the News
Following the announcement, shares of the company lost nearly 2.9% till yesterday’s closing.
Historically, the company has gained a top-line boost from its various product launches. Although the latest product availability is likely to be beneficial for RVTY’s top-line growth going forward, the stock declined overall.
Revvity currently has a market capitalization of $10.67 billion. It has an earnings yield of 5.3%, favorable than the industry’s 4.1%. In the last reported quarter, RVTY delivered an earnings surprise of 5.2%.
Significance of the Launch by Revvity
Per Revvity, the IDS i20 platform is a CE-marked and FDA-listed device that will likely allow laboratories to consolidate multiple specialty tests on a unique single instrument with greater reagent capacity and higher test throughput compared to existing offerings. The IDS i20 platform is expected to offer fully automated processing of specialty assays in endocrinology, allergy, autoimmune and infectious diseases, Alzheimer’s disease and therapeutic drug monitoring.
Management believes that the IDS i20 instrument will be able to support Revvity’s customers in transitioning from manual and semi-automated processing to a fully automated solution for enhanced immunodiagnostics workflows.
Industry Prospects in Favor of RVTY
Per a report by Grand View Research, the global ChLIA market was estimated at $11.71 billion in 2023 and is anticipated to witness a CAGR of 4.6% between 2024 and 2030. Factors like the growing emphasis on early disease detection and increased efforts by pharmaceutical companies in drug discovery and development are likely to drive the market.
Given the market potential, the latest product launch is expected to be a significant milestone for Revvity and boost its business.
Revvity’s Notable Developments
Last month, Revvity announced its first-quarter 2025 results, wherein its Diagnostics segment recorded a robust year-over-year revenue growth both on a reported and organic basis.
In March, Revvity announced the launch of EUROIMMUN’s CE-marked Anti-Measles Virus ELISA 2.0 (IgG) to support the diagnosis of a measles virus infection or to determine the immune status against measles virus.