BRICS In vitro Diagnostics Market: China is expected to have the major share

In Vitro Diagnostics Market: Overview

In vitro diagnostics (IVD) is a suite of diagnostic tests performed using analytical instruments and reagents, on samples such as blood, stools, urine, tissues, and other body fluids. These samples are derived from patients or healthy individuals, to detect diseases or infections. Some of the significant technologies incorporated in in vitro diagnostics are polymerase chain reaction (PCR), immunoassays, and sequencing technologies. In vitro diagnostics play significant role in risk assessment, and disease monitoring. Great advances have been achieved lately, particularly in the field of clinical immunology Recombinant allergens have been investigated in diagnosing asthma and food, pollen-induced and insect allergies, in in vitro testing.

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In Vitro Diagnostics Market: Segmentation

The market can be segmented across different categories such as product types, applications, end users and geography. Based on product types, the market is segmented into, instruments, data management systems and reagents & kits. Based on application, the market is further segmented into, diabetes, infectious diseases, oncology, cardiology, nephrology, HIV, and other applications. Laboratories, standalone clinics, hospitals and patients form the major end-users of the market.

The in vitro diagnostic market comprises several tests such as thyroid function tests, renal function tests, lipid profiling, liver function tests, basic metabolism tests, immunoassays, Enzyme Linked Immunosorbent Assay (ELISA), radio Immunoassay (RIA), florescent Immunoassay (FIA), hematology, full blood count (RBC, WBC, and platelets), bone marrow testing, blood coagulation tests, biopsy, microbiology, and other IVD techniques.

In Vitro Diagnostics Market: Regional Insight

On basis of geography, the market has been segmented into five countries – Brazil, Russia, India, China, and South Africa. The BRICS IVD market is expected to have a healthy growth rate owing to the booming healthcare industry, thus driving the in vitro diagnostics market. China is expected to have the major share and is likely to remain the largest regional segment of BRICS countries, followed by Brazil, Russia, India, and South Africa.

Rampant economic growth observed in BRICS countries and emerging markets enabling patient base to afford diagnostic services has resulted in steady increase in healthcare expenditure. This is likely to remain an important driver for the BRICS IVD market in coming years. Increased awareness of diseases and personalized medicines, and rising health conscious urban population, combined with growing incidences of infections and diseases, has led to rise in demand for in vitro diagnostics in BRICS countries. Large aging population and prevalence of chronic diseases, combined with government support for healthcare market will drive the in vitro diagnostics market in China.

Brazil Chamber of Laboratory Diagnostics (BCLD) study demonstrated that out of the total in vitro diagnostics market, laboratories comprised 88%, followed by blood banks at 11%, whereas Point of Care (POC) testing centers comprised only 1%. Increasing healthcare budgets along with rising number of private hospitals, and income levels backed by huge untapped population base offer interesting growth opportunities for IVD market in Brazil. However lack of proper reimbursement policies and a stringent regulatory framework may hamper the market growth. IVD market in South Africa has reached a stable phase with growth concentrated around infectious diseases diagnostics. However price sensitivity, lack of reimbursement policies and labor shortages continue to prove a hindrance to the growth of IVD market in South Africa.

In Vitro Diagnostics Market: Key Players

The in vitro diagnostics market is competitive in nature and hence possesses higher threat to new entrants. Some major players of in vitro diagnostics market comprises Roche diagnostics, Siemens Healthcare, Danaher, Abbott Laboratories, Inc., Johnson & Johnson, and Bio Rad laboratories, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

In Vitro Diagnostics Market Dynamics and Opportunities Report by Transparency Market Research

In vitro diagnostic products are medical devices in the form of a reagent, kit, instrument, equipment, apparatus or system and are used either alone or in combination with other diagnostic tools for gaining critical information for health and drug/therapy monitoring. The market landscape for in vitro diagnostics is changing rapidly due to surging demand for IVDs from regions such as Asia-Pacific and Latin America. In 2011, majority share of the in vitro diagnostics market was held by North America and Europe owing to the high healthcare expenditure and structured network of clinical laboratories. However, this scenario is changing gradually since major market players in the in vitro diagnostics market are focusing on emerging economies to accelerate growth via capitalization of unmet opportunities available in these regions.

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Epigenomics-based Diagnostics to be the Emerging Segment in the Global IVD Market

Increase in the global population accompanied with an increase in the cases of chronic infections and diseases such as sexually transmitted diseases (STDs), diabetes, and cancer have led to the growth of the global IVD market. Rising healthcare expenditure across the globe has further boosted the growth of the global IVD market.

The non-invasive and minimally invasive diagnostic tools offered by the global IVD market are preferred by patients and the doctors alike. This fits with the general trend in the medical industry towards minimally invasive procedures, which are more convenient for both parties. However, reimbursement challenges could restrain the growth of the global IVD market. Also, uncertain and ambiguous environmental regulations will threaten the growth of the global IVD market. Molecular diagnostics have opened new channels for the global IVD market. In the coming years, epigenomics-based diagnostics are forecast to be the emerging segment in the global IVD market. Key players in the in vitro diagnostics market are working on introducing epigenomics-based diagnostic products to stay ahead in the competition.

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Clinical chemistry IVDs held majority of the market share in 2011, across the U.S, India and China market. However, the molecular diagnostics segment is expected to have a robust growth during the forecast period owing to their ability to detect the disease at an early stage of development. Moreover, dramatic rise in the number of diabetes patients globally is driving the diabetes testing IVDs such as blood glucose meters and glucose testing strips.

Europe followed North America in terms of market share in 2011. This market is majorly driven by the presence of strong healthcare support from public as well as private healthcare spending. Some of the other major factors which drive the in vitro diagnostics market in Europe are:

Rising number of infectious diseases such as pneumonia, tuberculosis, malaria, and sexually transmitted diseases, etc.

Aging population and the related rise in the chronic diseases such as cardiovascular diseases (CVDs), diabetes mellitus, cancer, etc.

Demand for advanced and automated diagnostics technologies

Increasing demand for the rapid diagnostics and point-of-care testing

Significant differences in the reimbursement coverage throughout the region and the presence of ambiguous regulatory environment restraints the growth of this market. Although the healthcare system in Europe is better than many parts in the world, the increasing budgetary pressure is curbing the healthcare expenditure in this region.

This is resulting into slower growth rate of in vitro diagnostics market in Europe in comparison to that of the Asia-Pacific region.

The emergence of molecular diagnostics and the epigenomics-based diagnostics are expected to drive in vitro diagnostics market in Europe. In addition, a trend of diagnostic companies collaborating with pharmaceutical companies to launch companion diagnostics will open a premium segment of in vitro diagnostics market in the near future.

In Vitro Diagnostics Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018

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Browse the full In Vitro Diagnostics Market (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics) - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/in-vitro-diagnostic-tests.html

The global in vitro diagnostics market has been segmented on the basis of products and geography. In terms of geography, this market can be divided into Asia Pacific, Europe, North America, and Rest of the World. The products in the global in vitro diagnostics market are clinical chemistry IVDs, immunoassay IVDs, blood testing IVDs, molecular diagnostics, diabetes testing IVDs, and other IVDs.

The increasing demand for IVDs from regions such as Asia Pacific and Latin America is rapidly changing the landscape of the in vitro diagnostics market across the globe. Back in 2011, Europe and North America held a large share in the in vitro diagnostics market due to the presence of organized clinical research facilities and growing healthcare awareness. However, the tables have turned, as developing economies are now in the limelight and are attracting important market players with their pool of unmet opportunities.

The main drivers for the in vitro diagnostics market in Europe are the growing incidence of illnesses such as tuberculosis, sexually transmitted infections, and pneumonia, cardiovascular diseases (CVDs), diabetes mellitus, and cancer, and growing interest in quick diagnostics and point-of-care testing.

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The report suggests that clinical chemistry IVDs dominated the market in China, India, and the U.S in 2011. However, analysts predict that the molecular diagnostics segment will outpace the growth of other segments, as it helps in identifying diseases at a very early stage. In addition to this, the growing number of diabetics will also drive the global diabetes testing IVDs market, which includes blood glucose meters and glucose testing strips. As the diagnostic companies are working with pharmaceutical organizations for improving diagnostic procedures, the market will witness a huge array of convenient testing options in the near future.

The report on the global in vitro diagnostics market also profiles some of the key players in the market to provide a clear picture of the competitive landscape. The important companies in the global in vitro diagnostics market are Abbott Laboratories Inc., Bayer AG, Alere Inc., Becton Dickinson and Company, Siemens Healthcare (a division of Siemens AG), Beckman Coulter Inc., Biomerieux SA, Danaher Corporation, Gen-Probe Incorporated, Life Technologies Corporation, Johnson and Johnson, Thermo Fisher Scientific Corporation, and F. Hoffmann-La Roche Ltd. The section on company profiles includes an overview, financial status, research and development plans, marketing strategies, and investment plans for the coming few years.

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The global in vitro diagnostics market is categorized into the following segments:

Market by Products
U.S.
Clinical Chemistry
Immunoassay
Diabetes Testing
Blood Testing
Molecular Diagnostics
Others (Flow Cytometry, Microbiological Diagnostic Techniques)
India
Clinical Chemistry
Immunoassay
Diabetes Testing
Blood Testing
Molecular Diagnostics
Others (Flow Cytometry, Microbiological Diagnostic Techniques)
China
Clinical Chemistry
Immunoassay
Diabetes Testing
Blood Testing
Molecular Diagnostics
Others (Flow Cytometry, Microbiological Diagnostic Techniques)

Market by Geography
North America
Europe
Asia-Pacific
Rest of the World (RoW)

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