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Analysis of the Global In Vitro Diagnostics Market

  • July 2014
  • -
  • Frost & Sullivan
  • -
  • 154 pages

Summary

Table of Contents

Slowing US and European Markets Demand Alignment with Global Market Needs

Despite global economic and industry challenges, in vitro diagnostics (IVD) markets are growing robustly at double the rate of the global pharmaceutical industry. The global IVD market size was $47.30 billion in 2013; it is expected to reach $62.63 billion in 2017, at a compound annual growth rate of 7.3%. Because of stagnating mature markets, companies are heavily focused on globalization in emerging economies such as China and Brazil. This research service discusses the IVD segments of immunochemistry, point-of-care testing, molecular diagnostics, clinical microbiology, tissue diagnostics, hematology, hemostasis, and self-monitoring blood glucose.

Executive Summary
-Despite global economic and industry challenges, in vitro diagnostics (IVD) markets are growing robustly at double the rate of the global pharmaceutical industry.
-The global IVD market size was $ billion in 2013; it is expected to reach $ billion in 2017, growing at a compound annual growth rate (CAGR) of %.
-Global trends summary:
oThe United States and Western Europe are important markets, representing % of global revenue, but the fast-rising Asia-Pacific market should be part of every IVD company’s long-term strategy.
oDespite challenges in reimbursement and a need for Conformité Européenne (CE) marking reform, the Western Europe market exhibits an upward trajectory.
oThe Asia-Pacific region holds the most next-wave emerging markets, including Indonesia, Vietnam, and the Philippines.
oMore patients with private health plans, and the expansion and modernization of health infrastructure, will sustain growth in Latin America; however, a lack of technology and local manufacturing expertise will modulate growth.
-Segment trends summary:
oChina and Eastern Europe drive the demand for integrated analyzers able to run both clinical chemistry assays and immunoassays.
oSelf-monitoring blood glucose (SMBG) segment growth in emerging markets is severely dampened by slowing growth from reimbursement reductions in Europe and the United States.
oThe broad applicability of point-of-care test (POCT) globally, combined with downward pricing trends enabled by microfluidics integration, support the long-term growth of this segment.
oThe developed US and Western European markets continue to drive molecular diagnostics segment growth rather than the emerging Asia-Pacific and Eastern European markets.
oLaunches of new products, support of an existing installed base, and needs of emerging markets will provide relatively consistent hematology segment growth despite some market uncertainties.
oWhile rapid tests and molecular identification methods are a threat to traditional clinical microbiology methods, new mass spectrometry-based identification may bolster segment growth if favorably adopted.
oNew oral anticoagulant drugs are driving the need for associated laboratory testing and demand for coagulation analyzers.
-Competitive landscape summary
oThe global IVD market is highly fragmented, with the top participants—Roche Diagnostics, Siemens Healthcare, and Abbott Diagnostics—controlling % market share.
oMergers and acquisitions (M&A) continue to be an important competitive strategy to access new technology, expand product offerings, enter emerging markets, or increase market share. Further industry consolidation will occur at a rapid pace as IVD companies are acquired by larger IVD companies, pharmaceutical companies, and even nontraditional healthcare companies.

Key Questions This Study Will Answer
Which segments of the market are growing, how long will they continue to grow, and at what rate?
What primary strategies are competitors employing to sustain growth?
What do the key M&A deals indicate about the market?
What are the drivers and restraints for the global IVD market and for emerging markets?
What percentage does each region contribute to the global IVD market? Which regions are growing the fastest?
Which new technologies following next-generation sequencing (NGS) have the potential to be IVD applications?

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