The world market for diagnostics was about $54.6 billion in 2013 and is expected to grow 4% annually, to $65 billion, by 2018.
That figure in Kalorama's biennial survey of the IVD industry, The Worldwide Market for In Vitro Diagnostic Tests, 9th Edition, includes all laboratory and hospital-based products, and OTC product sales. New technology is leading the charge, according to Kalorama. Diagnostic laboratory technology has changed dramatically due to the publication of the human genome project and advances in functional genomics, bioinformatics, miniaturization and microelectronics.
"Not three years ago it would have been almost inconceivable to see research technologies such as genome sequencing and mass spectroscopy play a pivotal role in improving lab medicine," said Shara Rosen, Kalorama's lead diagnostic analyst and the author of the report. "Their influence is felt in personalized medicine, inherited diseases, pathogen detection, antibiotic resistance testing, blood banking and much more to come."
According to the report, this phenomenon has seen the major vendors of these technologies enter the IVD market. Life Technologies, Illumina, Affymetrix, Bruker Daltonics, PerkinElmer/Caliper and others have all launched clinical tests and test services. Another finding in the report is that emerging markets have taken off. All of the major IVD companies reported at least 25% increase in their sales in China and growth in the top seven emerging markets: Brazil, Turkey, Korea, India, Russia and Mexico.
"We knew that these were target markets but the double-digit results in China were surprising," said Bruce Carlson, Publisher of Kalorama Information. "These countries continue to invest in healthcare infrastructure and insurance coverage and IVD is part of that."
On the supply side, labs are challenged to add new tests with little increase in financial and human resources. For most labs it may even mean doing more with less.
The survey can be obtained at http://www.kaloramainformation.com/redirect.asp?progid=86544&productid=8...
- PHYSICAL SCIENCES
- EARTH SCIENCES
- LIFE SCIENCES
- SOCIAL SCIENCES
Subscribe to the newsletter
Stay in touch with the scientific world!
Know Science And Want To Write?
- Case For Moon: Gateway For Open Ended Exploration, With Planetary Protection Central - On The SpaceShow
- Sweet Irony: The Environmental Impacts Of GMO Sugar Science Denial
- Why We Get Tired When We Stay Up Too Late
- The Real Cost Of Milk
- When It Comes To Replicating Psychology Studies, Good Luck
- We’re Not In Europe Any More: BfR Statement On EDCs Embraces The Risk-Based Approach
- Prescaled Jet Triggers: The Rationale Of Randomly Picking Events
- "Okay, that may be true, but we never hear from them. Instead we hear from Environmental Working..."
- "You lost me at: Environmental groups, who ordinarily love centralized government and social authoritarian..."
- "Mi Cro, I happened upon your global temperature charts recently, and want to be sure I understand..."
- "You make good points. I thank you for them. I am enjoying reading your work. I agree that asteroid..."
- "Oh, okay, glad you aren't worried about little asteroids. Yes I agree, I haven't come across that..."
- Ketamine Better than Haloperidol for Sedation Onset But Not Much Else
- TIps & Tricks To Ward Off Ticks
- What is CRISPR-Cas9 and why do we need to know about it?
- Pancreatic Cancer: Surgery Improves Survival in One-third
- Intervention Decreases Adolescents’ Obesity
- What Organic and Chemical Actually Mean: A Glossary of Hijacked Terms
- Science instruments of NASA's James Webb Space Telescope successfully installed
- Tiny wasp sniffs out, picks up 'good vibrations' to battle ash borer
- Abundance inequality in freshwater communities has an ecological origin
- Family size and education levels: The right support could reverse long-held theory
- New water-quality data on impact of corn, soybeans on nitrate in Iowa streams