IVD
diagnostics industry is poised to leverage the global infrastructure by
introducing a wide range of products
In vitro diagnostics market is likely to propagate a notable growth owing to the increasing cases of growing aging population. Other factors such as chronic lifestyle associated diseases and frequent use of personalized medicines as well as POC testing have kept the industry prospects high. Research analysts in Allied Market Research who have captured the recent statistics on share and size, growth, demand and trends say industry is anticipated to expand owing to the discoveries and technology advancements in different IVD technologies. Sudden rise in health concerns and ability of the customers to spend for these test at home or hospitals has resulted in growing awareness among the users, thus leading to growth. Severe health conditions including cancer, sexually transmitted diseases and diabetes have been identified using in vitro diagnostics tests in the long run.
In Vitro Diagnostics Market Remains’ Lucrative for Investment
There are numerous factors that would attract huge investments in the In Vitro Diagnostics market. Several studies indicate that POC testing is a key factor luring investors from across the world. Patients now prefer getting tested in a doctor’s clinic over hospitals. Thus, rapid shift of testing to POC will have many stakeholders interested in this sector. Besides this, the speed with which the medical diagnostics are compelled to deliver will pull in investment from big players. This is visible in the explosion for minimally invasive devices.
The fact that developing nations are now able to spend for diagnostics, which they weren’t able to couple of years back has also increased the investment pockets. Beyond, other markets in vitro tests, Asian country like India observes close to 100 M malaria test every year. Many nations are witnessing a rapid growth in their aging population. Amidst such scenario there is an increasing need for test as well as diagnostic technologies that can easily cope with several changes.
Prominent Players - In Vitro Diagnostics Market
Roche Diagnostics tops the list of prominent vendors in the industry. A subsidiary of Roche, this pharmaceutical company is based in Switzerland. According to an article published in Forbes this pharma company has generated profits of $18.3 bn in 2012. The manufacturer is popular for offering broader portfolio for diagnosis of diseases including diabetes, HIV, hepatitis and HPV among others. Next in the list is Siemens Healthcare, which is subsidiary company of the diversified Siemens. A Forbes article outlines that the company was expecting close $ 4.3 billion in sales in the first quarter of 2014 itself. With is specialization in laboratory diagnostics, company now produces blood gas testing tools, molecular, chemistry and urinalysis among other systems.
Major Trends in The in Vitro Diagnostics Market
Hologic had invested about $3.7 bn in 2012 in Gen – Probe. Company’s molecular diagnostics would continue to play a vital role in the diagnosis of several deadly diseases. Furthermore, its role in identifying whether an organ transplant would be advisable as well as blood screening is inevitable. Commenting on their acquisition Rob Casella, president and CEO of Hologic had said "We are pleased to complete this acquisition and welcome Gen-Probe into the Hologic family. I am excited to work with Carl Hull to capitalize on the many opportunities ahead for our Diagnostics business and for our company. With Gen-Probe's suite of technologies, Hologic is now firmly established as a premier provider of diagnostic solutions.” CEO further added “We are poised to leverage our established global infrastructure with an impressive new product pipeline, and to capitalize on the fast-growing molecular diagnostics market. We are committed to a seamless integration of Gen-Probe and look forward to delivering on the synergies and growth potential presented by this combination."
In addition, the impact of medical device tax is still fresh. According to Obamacare the medical device suppliers are expected to pay 2.3 percent excise tax on their revenue. Another revolution began when Roche diagnostics has bought CMI known for its advanced designs particularly for hematology testing for about $220 M. Roche had taken the decision to invest in CMI owing to its capability to meet targets.
Eyeing the developments in the In Vitro Diagnostics, Allied Market Research has published a market research report titled “World In Vitro Diagnostics (IVD) Market - Opportunities and Forecasts, 2013 – 2020.” Research analysts conducting the study use both qualitative and quantitative research techniques to capture statistics on business imperatives such as growth, share and size and trends. As per the research the world IVD sectors would generate $74.65 bn by 2020.
