We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
FUJIREBIO

Download Mobile App




Events

ATTENTION: Due to the COVID-19 PANDEMIC, many events are being rescheduled for a later date, converted into virtual venues, or altogether cancelled. Please check with the event organizer or website prior to planning for any forthcoming event.
18 Mar 2021 - 21 Mar 2021
13 Apr 2021 - 16 Apr 2021

IVD Market Exceeded USD 50 Billion in 2011

By LabMedica International staff writers
Posted on 18 Jul 2012
Print article
AACC 2012: A market research company reports that the world market for in vitro diagnostics (IVD) is estimated at USD 50.9 billion for 2011.

According to a report by the healthcare market research publisher, Kalorama Information (New York, NY, USA) growth in the IVD market is driven by an aging population, product innovations, and sales to emerging markets. Kalorama revealed its findings as the industry meets and assesses its progress at the annual 2012 meeting of the American Association for Clinical Chemistry (AACC), which is being held in Los Angeles (CA, USA) from July 15-July 19, 2012.

The revenue estimate for 2011 includes all laboratory and hospital-based products, and over-the-counter (OTC) product sales. The report found that the IVD market has grown but it will be challenged with a sharp decline in pricing for diagnostic tests in Europe and consolidation in the US, which could lead to price erosion.

“A number of world events bode well for the future of medical devices: an aging worldwide population and demand for new hospitals in developing countries,” said Shara Rosen, Kalorama diagnostic analyst and author of the report. “Increasing numbers of people between the ages of 45 and 75 years in the industrialized world consume more healthcare services such as heart and cancer tests.”

Some of the total market growth expected in the coming years could derive from increased test usage in emerging countries. Significant growth is expected in Brazil, China, and India, which are investing in healthcare infrastructure and insurance coverage for a growing, more affluent middle class.

The new availability of choices, undoubtedly good for medical care, poses problems for the physician who must choose correctly from among the numerous new IVD products, and for payers to pay for new technologies that may still be unproven.

Some of the total market growth expected in the coming years could derive from increased test usage in emerging countries. Significant growth is expected in Brazil, China, and India, which are investing in healthcare infrastructure and insurance coverage for a growing, more affluent middle class.

“IVD companies are casting their nets in developing countries, where rising incomes and standards of living have sparked a new health consciousness and growing demands for quality medical care,” remarked Shara Rosen.

Related Links:

Kalorama Information


New
Gold Supplier
Cytocentrifuge
Cytopro Cytocentrifuge Series 2
Coronavirus Test
COVID-19 Coronavirus Real Time PCR Kit
COVID-19 and Influenza Test
COVID-19 and Influenza A+B Antigen Combo Rapid Test
DNA/RNA Extraction Kit
Exiprep 96 Lite & Viral DNA/RNA Kit

Print article

Channels

Molecular Diagnostics

view channel
Image: Histopathologic image from a patient with Li Fraumeni syndrome showing accumulation of mutant TP53 in tumoral cells (Photo courtesy of Thierry Soussi, PhD).

Clinical Germline Testing Evaluated for Pediatric Cancer Patients

Pediatric cancer is rare, with fewer than 10,000 solid tumors diagnosed in children annually in the USA. Previous studies interrogating germline predisposition broadly across pediatric cancer types have... Read more

Industry

view channel
Illustration

Mindray and Tencent AI Lab to Jointly Develop AI Products for Blood Disease Screening and In Vitro Diagnosis

Shenzhen Mindray Biomedical Electronics Co., Ltd. (Shenzhen, China) has signed an AI cooperation framework agreement with Tencent AI Lab (Shenzhen, China) to jointly develop AI products for blood cell... Read more
Copyright © 2000-2021 Globetech Media. All rights reserved.