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              Biopharma & IVD

              The global in vitro diagnostics market is forecast to grow from $53.3 billion in 2013 to $69.3 billion by the year 2018, according to EAC, predicted 4.9% annual growth assuming constant currency rates.

              By region, North America is the largest IVD market at $23.4 billion in 2013, followed by Europe/Middle East/Africa at $18.8 billion, Asia-Pacific at $5.9 billion, Japan at $3.9 billion and Latin America at $2.5 billion. But Asia-Pacific is the fastest growing region with continued double digit growth rates.

              By segment, 5 largest segments, in rank order, are Immunoassays, Whole Blood Glucose, Central Lab Clinical Chemistry, POC/POL and Clinical Molecular. However, the fastest growing segments in the past year were Clinical Molecular (7.9%), POC/POL testing (7.0%), Hematology (6.3%), Anatomic Pathology (6.2%) and Immunoassay (5.9%).

              By application, the IVD market can be divided into infectious disease, diabetes, cancer, cardiology, autoimmune diseases, nephrology, drug testing, and HIV/AIDS. Of these, infectious diseases, followed by HIV/AIDS testing are top two generators of revenue in the market currently and are expected to maintain their positions.

              By end user location, the vast majority of IVD testing (74%) is still performed in central laboratories, defined as hospital labs, private reference labs, and blood bank labs. An increasing proportion is being performed at point-of-care locations in hospitals as well as physician offices and other decentralized sites such as retail and community clinics (11%). Finally, consumer testing – either physician directed or Over-the-Counter (OTC) – represents 15% of the IVD market.

              Experts from Frost & Sullivan have given following key drivers and restraints for global IVD market in recent years:

              For IVD industry trends in the following years, we could expect IVD market will booming in Asia Pacific region and emerging markets. Infectious diseases and HIV/AIDS testing are attracting more priority. And molecular diagnostics and POCT segment will have faster growing rates. Diagnostic testing will continue to move towards decentralization.

              IVD Industry is a very huge attractive growing pie for all stakeholders, especially in emerging markets. SZ&W Group will commit to create commercial opportunities to our members to booming IVD business in emerging markets.

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