In-vitro Diagnostics Market Pivotal Players | Abbott, Becton Dickinson, BioRad, BioMerieux, Cephied (Danaher), Grifols, Johnson & Johnson, Luminex, LivaNova (Sorin), Ortho Clinical Diagnostics, F. Hoffmann-La Roche, Siemens
With incredible rise in the occurrence of diseases all around the world, in-vitro diagnostics (IVD) market has gained substantial momentum owing to its significance in detecting varied medical conditions and to expedite treatments. Different tests performed on human blood or tissue samples assist medical professionals to monitor the health of patients and treat, cure or prevent diseases. Prevalence of cancer, diabetes, autoimmune diseases, hepatitis, kidney disorders and a large number of infectious diseases have immensely transformed the in-vitro diagnostics industry landscape, along with influencing vital technological developments. Valued at nearly USD 62.8 billion in 2017, the global in-vitro diagnostics market has been witnessing massive expansion in the diagnosis and treatment of infectious diseases among the growing geriatric population.
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According to WHO estimates, the total population of people aged 60 years or more, will almost double from 900 million in 2015 to approx. 2 billion in 2050. It is a known fact that older people have lower immune systems and are more prone to getting infected, requiring consistent testing for diseases and necessitating the in-vitro diagnostics industry intervention. Mounting cases of infections in younger patients have also mandated the use of efficient diagnostic processes for recognizing and managing the diseases. Heavy R&D investments by healthcare companies and medical institutes have resulted in the discovery of several techniques for testing infections that cause respiratory disorders, diarrheal problems, tuberculosis and AIDS. Infectious diseases are a leading cause of fatalities worldwide and the need for appropriate methods of identifying and dealing with them will profusely advance the in-vitro diagnostics market.
As each disease is attributed to different causes, no unique method can be applied to test for every kind of infection. Considered to be one of the most advanced technology for testing available in the in-vitro diagnostics market, molecular diagnostics has grabbed the attention of key industry players who are seeking to capitalize on its extensive application scope. Becoming a go-to solution in clinical testing for infections, cancers and other disorders, molecular diagnostics has allowed for improved and faster detection of harmful agents in the blood stream. Molecular testing is able to detect even minute amounts of infectious elements in the body, enabling the identification of diseases faster than what was previously possible. Increasingly deployed in detecting infectious diseases as it is a less invasive technique in comparison to performing biopsies, molecular diagnostics technology has presented an extremely lucrative vertical within the in-vitro diagnostics market.
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Elaborating on the potential of molecular diagnostics for managing infections, further WHO reports show that three categories of infectious diseases had been ranked in the top ten causes of deaths worldwide in 2016, namely tuberculosis, diarrheal diseases and lower respiratory infections. Tuberculosis (TB), in particular, had resulted in over 1.7 million deaths from the total of 10.4 million TB cases recorded in the year. Mostly affecting the lungs, TB easily spreads through air and inhaling only a small amount of infectious germs can cause the disease to build up. As such, the in-vitro diagnostics industry has experienced rapid progress in development of efficient testing solutions for early detection of this curable airborne disease. Notable industry collaborations have permitted the advent of affordable and easily accessible molecular diagnostic services to prevent the spread of TB and other infectious illnesses.
A reputed medical research foundation, LifeArc and the University of St Andrews Infection Group recently unveiled a new molecular diagnostic test, which they collaboratively developed for detecting and quantifying TB bacteria among affected patients. The Molecular Bacterial Load Assay (MBLA) test will purportedly use molecular techniques to count the live bacteria and the process is up to get CE-marked so that it can be made available to patients in every region. It is important to detect the onset of TB early and the MBLA is designed to achieve results within hours what traditional methods did in weeks. The in-vitro diagnostics market will largely benefit from the application of molecular diagnostics in treating TB, since international health agencies and governments have committed themselves towards eradicating the TB epidemic by 2030.
All in all, the in-vitro diagnostics industry has made unequivocal contributions towards diagnosing infectious diseases and enabled doctors to create targeted therapies and treatments for patients. Convenient access to superior quality equipment and the emergence of integrated monitoring technologies will further drive the in-vitro diagnostics market, which consists of leading healthcare companies like Abbot, BioRad, Cepheid, Danaher, Johnson & Johnson, Roche Diagnostics, Siemens and Qiagen.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
184.108.40.206. Paid sources
220.127.116.11. Unpaid sources
Chapter 2. Executive Summary
2.1. In-vitro diagnostics industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Type trends
2.1.3. Technology trends
2.1.4. Application trends
2.1.5. End-user trends
2.1.6. Regional trends
Chapter 3. In-vitro Diagnostics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
18.104.22.168. Growing rate of healthcare infections particularly in North America
22.214.171.124. Increasing adoption rate of automated diagnostic machine & equipment in Europe
126.96.36.199. Rising geriatric population preferring personalized medicines in Asia Pacific
188.8.131.52. Surging number of pathology labs and services equipped with advanced diagnostics machine
184.108.40.206. Increasing awareness regarding viral disease detection in the U.S.
3.3.2. Industry pitfalls and challenges
220.127.116.11. Excessive cost of diagnosis service
3.4. Growth potential analysis
3.4.1. By type
3.4.2. By technology
3.4.3. By application
3.4.4. By end-user
3.5. Regulatory landscape
3.6. Porter’s analysis
3.7. Competitive landscape, 2017
3.7.1. Strategy dashboard
3.8. PESTEL analysis
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