In-Vitro Diagnostics (IVD) is a way of conducting medical tests to determine the presence of infectious diseases, chronic ailments, sexually-transmitted diseases, cancerous growth, etc. in which an analyte is assessed in a controlled environment outside the living organism. Most early testing in this type was performed in a test tube, hence the name ‘in-vitro’ meaning ‘in-glass’ in Latin. The present IVD industry focuses on the manufacture of reagents and analytical instruments that are used in diagnostics. Reagents are chemical or biological substances that react with patient samples of blood, tissue, urine, etc. Analytical instruments comprise the equipments that automate the process. Accessories like relevant software products also fall under the IVD market’s purview.
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Significant world-wide rise in infectious diseases and chronic ailments including AIDS, cancer, tuberculosis, diabetes, and cardiovascular illnesses, among others, will drive the future demand for IVD diagnostics. Growing geriatric population in many parts of the world coupled with rising healthcare awareness is contributing to the same. Furthermore, the demand for speedy and non-invasive medical procedures has also increased, leading to growth of the IVD market. IVD diagnostic technique is either completely non-invasive or minimally-invasive. It is also faster with results often being delivered in just a few hours as compared to several weeks for traditional techniques. This results in early detection of medical conditions and better control which benefits the patient and society at large.
Based on products, the IVD market can be categorized into tissue diagnostics, molecular diagnostics, professional diagnostics and diabetes monitoring. Of particular significance is the category of professional diagnostics, owing to its ability to deliver accurate and speedy outcomes. Its subsets include clinical chemistry, coagulation tests and immunoassays. Together, they contributed to more than 70% of the total global demand in 2012. The high level of unmet demand for these testing methods, particularly in the area of infectious diseases, is an important reason for this strong performance. Diabetes monitoring, with more than 15% share, stood in second position in 2012. The widespread prevalence of diabetes coupled with increasing awareness regarding timely and regular testing are factors conducive to demand for diabetic monitoring products like test strips. As per WHO, diabetes will be 7th leading cause of death in 2030. This is indicative of a huge demand for diabetic monitoring products in future. The tissue diagnostics market is likely to grow the fastest by 2020 due to growing demand for lab automation. WHO estimates a 70% rise in new cancer cases over the next two decades. This will also propel growth of tissue diagnostics.
North America accounted for the highest share of the total global IVD market in 2012. This was due to higher spending on healthcare driven by rising awareness levels. This region is anticipated to continue ascent in future. Europe followed North America with about 30% market share in 2012. The main growth generating regions in Europe were UK, Germany, France, Spain and Italy. In western parts of Europe, healthcare systems are heavily funded by governments. This positively impacts IVD market. Proliferation of ailments especially cancer, pneumonia, tuberculosis, etc., will propel future demand for IVD products in Europe. IVD techniques like molecular diagnosis and flow cytometry are critical for timely diagnosis and treatment. Technological advancements and automation in this field are also conducive to European market growth.
Key industry players are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Johnson & Johnson and Beckman Coulter Inc., among others. The global IVD market features multiple large and small operators that provide instruments, reagents, services, etc. However, the five leading operators control more than half of the market share as a result of acquisitions. Companies are concentrating resources on development of new products in promising areas like molecular and tissue diagnostics. Thus, R&D is a key component of the competitive strategy of the global IVD industry.
Information Source: Grand View Research