Growth estimates in the IVD market range from 3 to 4%, but this number depends on the segment covered. Some segments will grow at half the rate, others at double or triple average. Most areas of the IVD market are competitive. New companies enter the IVD market on a consistent basis, and IVD market revenue growth exceeds device or average pharmaceutical markets.
Through 2021, the fastest global growth in IVD procedure volume will emerge in molecular assays followed by histology/cytology processes, and non-glucose POC tests. Reflecting further advances in amplification technologies and the discovery of new genetic and protein markers, molecular assays will expand applications in cancer and infectious disease detection and characterization, transplant matching, donated blood screening, and pharmacodiagnostics.
The increasing use of in situ hybridization in the diagnosis, analysis, and monitoring of hematopoietic neoplasms and solid tumors, along with the widening adaptation of immunohistochemistry techniques to the identification of cancerous cell- and tissue-based antigens, will underlie fast-paced growth in the combined worldwide volume of histology and cytology procedures. The continuing diversification of hospital ambulatory and emergency departments, outpatient clinics, and physicians' offices into onsite patient testing will promote strong growth in the number of non-glucose POC procedures conducted on lower volume, desktop immunoassay systems.
Demand patterns and growth prospects for IVD procedures will vary widely by country and region. The fastest growth in volume will occur in developing countries that leverage increasing economic prosperity to achieve significant improvements in medical delivery systems and resident healthcare accessibility. By contrast, the impoverished nations of Africa, Asia, and Central and South America, are not expected to achieve a significant upgrading of diagnostic testing capabilities in the near term and will remain dependent on philanthropic organizations to detect and control epidemic threats such as HIV, Ebola, and Zika.
Due to maturing markets, the volume of IVD procedures implemented in the developed world will increase more slowly than the average pace of the developing economies. Moreover, in most developed countries, the strengthening of healthcare cost containment initiatives and price controls will result in tighter restrictions being imposed on patient services. This trend will increase pressure on medical providers to avoid prescribing or implementing unnecessary tests, which, in turn, will hold down growth in the volume of IVD procedures.
In spite of tighter cost containment measures and slower overall growth in the volume of IVD procedures, the developed countries will provide the best revenue opportunities for high value-added esoteric patient tests. By enabling the earlier detection and more definitive diagnosis of complex diseases and disorders, these tests hold significant potential to improve the quality and reduce the overall cost of patient care. Accordingly, they are expected to build up applications in the U.S. and other developed countries pursuing value-based healthcare strategies.
Eiken Chemical Company
CLIA Lab Service
Sample to Insight
Labcorp, Laboratory Corporation of America
Key Topics Covered:
1: Executive Summary
3: Regional Market Test Procedure Volume Analysis
4: Point Of Care Test Volume And Pricing Analysis
5: Core Laboratory Test Volume And Pricing Analysis
6: Molecular Assays
7: Hematology Test Volume And Pricing Analysis
8: Coagulation Test Volume And Pricing Analysis
9: Microbiology Test Volume And Pricing Analysis
10: Blood Typing / Grouping Test Volume And Pricing Analysis
11: Histology And Cytology Test Volume And Pricing Analysis