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In-vitro and Companion Diagnostics Industry - 2010 Yearbook
In-vitro and Companion Diagnostics Industry - 2010 Yearbook
Global In-Vitro Diagnostics (IVD) and Companion Diagnostics (CDx) market set to boom in the next seven years
London,
London,
United Kingdom
(prbd.net)
19/01/2011
The global IVD and CDx market was valued at $30.4 billion in 2009 and is forecast to grow to $42.2 billion by 2016 at the rate of 4.8% over the next seven years. Immunochemistry and Clinical chemistry markets will be the largest IVD categories, accounting for nearly 60% of the total revenues. These markets are expected to grow at 5.2% and 4.1% CAGR (Compounded Annual Growth Rate) between 2009–2016, to reach $15,477.4m and $9,506.7m respectively. The genetic testing market will be the fastest growing market, at a CAGR of 6% during 2009–2016, to become an over the billion dollar market. The global IVD and CDx market will be driven by new technological advancements, a shift towards more complex immunochemistry tests to Point of Care (POC), and the adoption of cost cutting measures such as increased automation and self testing. Major technological advancements such as next generation DNA sequencing, molecular imaging, and microfluidics-based diagnostic devices are expected to drive growth in categories such as immunochemistry and genetic testing.
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Cost reduction has become the primary theme of healthcare reforms globally. To survive and succeed in these challenging conditions, it is imperative for laboratories to look for ways to adapt and implement new strategies to help them save on costs. In today’s competitive environment, revenues per test are continually falling, requiring testing centers to increase their productivity for survival. The paradigm shift towards improved quality, error free services, and the need to ensure patient satisfaction to retain their allegiance has prompted laboratories to adopt novel technologies such as automation and point of care, in order to reduce their expenses. The acceptance of new technologies is expected to drastically improve among those who are currently reluctant to invest to achieve long term cost reduction goals. Companion diagnostics, in particular, hold great potential to reduce healthcare costs.
GBI Research's new report “In-vitro and Companion Diagnostics Industry – 2010 Yearbook” provides an in-depth analysis on the potential applications of in-vitro and companion diagnostics in pharmaceutical drug discovery and clinical services. The report suggests investment decisions in in-vitro and companion diagnostics market by providing information on major segments of in-vitro diagnostics, namely Immunochemistry, Clinical chemistry, Infectious immunology, Hematology, Microbiology, Histology and Cytology, Genetic testing and Companion diagnostics markets, market forecasts and analysis, pipelines, competitive landscape, research trends and mergers and acquisitions. In addition to this, the report also covers market drivers and restraints for the global in-vitro and companion diagnostics market.
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http://www.gbiresearch.com/Report.aspx?ID=In-vitro-and-Companion-Diagnostics-Industry-2010-Yearbook&ReportType=Industry_Report&coreindustry=ALL&Title=Pharmaceuticals_and_Healthcare
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