1. Market Research
  2. > Healthcare
  3. > Medical Device
  4. > In Vitro Diagnostics Market Trends

Survival Strategies for the Global In Vitro Diagnostics Industry

  • April 2014
  • 46 pages
  • Frost & Sullivan
Report ID: 2081781

Summary

Table of Contents

Slowing US and European Markets Demand Alignment with Global Market Needs

Executive Summary

- While there is a positive outlook for global in vitro diagnostics (IVD), top companies face challenges such as slowing growth, increasing competition, and a changing business environment.
- Prime opportunities include pursuing the underpenetrated Brazil, Russia, India, and China (BRIC) markets; and high-growth IVD segments, such as point-of-care testing (POCT) and self monitoring of blood glucose (SMBG).
- Beyond the BRIC countries, the African IVD market holds early-stage opportunities but the market differences should be understood.
- Due to cuts in reimbursement, clinical laboratories are becoming more open to new technologies that can reduce operating costs.
- An IVD company that leverages external partners for developing cost reducing technologies may have a competitive edge.

Industry Overview and Definitions

•IVD is a $x billion market worldwide and is growing in the mid single-digits. Market revenue consists of product sales of the instruments and consumables.
•IVD are tests that can detect disease, conditions, or infections in patients. Testing occurs outside of the body on specimens like blood, tissue, or urine.
•Customers of IVD products are typically hospitals and laboratories. Customer segmentation varies according to region.
•Much of the US IVD testing volume occurs in hospital laboratories.

Key Market Principles

•The unit in this market is test volume that comes from test utilization, which is most significantly impacted by healthcare access.
•There are improving valuations for diagnostics, which is evident in the companion diagnostics segment.
•There is strong demand for segments using advanced technology like molecular diagnostics and clinical sequencing.

Segment Trends

•IVD segments
oImmunochemistry
oPOCT
oSMBG
oMolecular diagnostics
oMicrobiology
oCoagulation
oHematology
oTissue diagnostics
•Key segment trends
oThe immunochemistry segment is the largest segment and is growing more rapidly than the others.
- In previous years, growth had been driven by volume since these are routine tests and this area of the laboratory is very automated. Presently and moving forward, this segment is more and more driven by growing demand from China and other emerging markets.
oThe molecular diagnostics segment also has an impressive growth trajectory. This segment may reach the size of the POCT segment within 3 years.

Intensifying Competitive Landscape

•Tier I Companies: Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Ortho Clinical Diagnostics (J&J), and Beckman Coulter (Danaher).
•Tier II Companies: Alere, Bayer Diabetes Care, bioMerieux, Sysmex, and Becton Dickinson.
•In the period 2009–2012, Tier I and Tier II have increased their market share at the expense of other weaker competitors. The pace of consolidation is remarkable and will only continue in these challenging market dynamics.
•Further consolidation is expected in the future with M&A guided by strengthening or gaining access to new regions and customer segments.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

IVD Market in BRIC by Product & Service, Technology, Application, Country - Forecast to 2022

  • $ 5650
  • Industry report
  • May 2017
  • by MarketsandMarkets

The IVD market in BRIC is expected to reach USD 15.71 billion by 2022 from USD 10.60 billion in 2017, at a CAGR of 8.2%. The key factors driving the growth of the market are growing patient awareness of ...

In Vitro Diagnostics Quality Control Market by Application, Source, Type - Global Forecast to 2022

  • $ 5650
  • Industry report
  • July 2017
  • by MarketsandMarkets

The global IVD quality controls market is expected to reach USD 1.04 billion by 2022, growing at a CAGR of 3.5% during the forecast period (2017 to 2022). The market is mainly driven by the growing numbe ...

Global Laboratory Glassware and Plasticware Industry

  • $ 4950
  • Industry report
  • May 2017
  • by Global Industry Analysts

This report analyzes the worldwide markets for Laboratory Glassware and Plasticware in US$ Thousand by the following Product Segments: Laboratory Glassware (Beakers, Bottles, Burettes, Flasks, Funnels, ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.