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Global In Vitro Diagnostics Market to Grow To $69.1 billion by 2017


Posted in IVD by Arundhati Parmar on August 19, 2013

 

The global in vitro diagnostics (IVD) market is expected to grow to $69.1 billion by 2017, up from $49.2 billion in 2012, according to a new report by Research and Markets.

The growth represents a 7% compounded annual growth rate in five years.

Self-testing is the biggest trend fueling the growth of the industry whereas before patients used to visit hospitals for certain kinds of diagnosis. As a result, the number of point-of-care testing products has grown.

Other factors that are contributing to the growth of the IVD industry globally are “ongoing developments in analytical laboratory automation, swift progress in various fields of diagnosis such as … molecular diagnosis, immunoassays, hematology, flow cytometry, microbiology and finally, the geographical market expansion within emerging countries.”

While the U.S., followed by Europe will continue to account for the largest markets for the industry, emerging regions like the BRIC countries represent areas of the fastest growth.

The industry can be categorized into the following segments based on technology:

  • Clinical chemistry
  • Immunochemistry
  • Molecular diagnostics
  • Hematology
  • Coagulation
  • Microbiology
  • Others

The IVD industry can also be broken down into the following sub categories based on applications:

  • Diabetes
  • Infectious diseases
  • Oncology
  • Cardiology
  • Nephrology
  • Auto-immune diseases
  • AIDS
  • Drug testing
  • Others

Some of the leading companies in the space are Abbott Laboratories, Roche Diagnostics, Becton Dickinson & Co., Siemens Healthcare of Germany and Diagnostica Stago SAS of France.

-- By Arundhati Parmar, Senior Editor, MD+DI
arundhati.parmar@ubm.com
 

Learn more about the IVD business landscape in the future by registering for the IVD Business Strategy Conference to be held in San Diego, Nov.6-8.

 

 


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In Vitro Diagnostics Market Will Reach USD 1.1 Billion by 2018

In Vitro Diagnostics Market was valued at USD 46.0 billion in 2011 and is expected to reach an estimated value of USD 74.2 billion in 2018, growing at a CAGR of 7.1% from 2012 to 2018.

In vitro diagnostics (IVDs) provide valuable information regarding the physiological and/or pathological state of body and therefore are very essential to take well-informed medical decisions. Rising number of patients suffering from infectious and chronic diseases such as sexually transmitted diseases, chronic obstructive pulmonary disease, diabetes and cancer is the most significant growth driver of this market. In addition, factors such as increasing global healthcare expenditure and demand for rapid, minimally invasive and non-invasive diagnostic tools & techniques are driving the market as well.

Source : http://www.transparencymarketresearch.com/in-vitro-diagnostic-tests.html