AC­CEL­ER­AT­ING IVD IN­NO­VA­TIONS

Not al­ways per­ceived as the most ex­cit­ing field as ther­a­peu­tics, the di­ag­nos­tics in­dus­try is gain­ing mo­men­tum and grow­ing and chang­ing just as fast. At a rapid pace with pro­jected sales growth be­tween 2012 and 2018 from $43.6 bil­lion to $58.8 bil­lion (C

BioSpectrum (Asia) - - Bio Content -

The in­creas­ingly age­ing pop­u­la­tion, need for rapid di­ag­nos­tic re­sults, emer­gence and re-emer­gence of in­fec­tious diseases, and grow­ing life­style dis­or­ders are ex­pected to ac­cel­er­ate the IVD mar­ket. IVD mar­ket is con­stantly evolv­ing. Mega trends such as con­sol­i­da­tion, au­toma­tion, and re­im­burse­ment poli­cies af­fect ev­ery as­pect of the mar­ket. The grow­ing im­por­tance of di­ag­nos­tics in pa­tient care is ex­pand­ing be­yond hos­pi­tals and lab­o­ra­to­ries to homes, long term and chronic care, and other seg­ments in health­care. Apart from the ma­jor trends in IVD, there are other key trends like grow­ing dig­i­tal­iza­tion of health­care to en­able a more ef­fi­cient pa­tient care con­tin­uum.

The in­creas­ingly age­ing pop­u­la­tion, need for rapid di­ag­nos­tic re­sults, emer­gence and re- emer­gence of in­fec­tious diseases, and grow­ing life­style dis­or­ders are ex­pected to ac­cel­er­ate the IVD mar­ket. IVD mar­ket is con­stantly evolv­ing. Mega trends such as con­sol­i­da­tion, au­toma­tion, and re­im­burse­ment poli­cies af­fect ev­ery as­pect of the mar­ket. The grow­ing im­por­tance of di­ag­nos­tics in pa­tient care is ex­pand­ing be­yond hos­pi­tals and lab­o­ra­to­ries to homes, long term and chronic care, and other seg­ments in health­care. Apart from the ma­jor trends in IVD, there are other key trends like grow­ing dig­i­tal­iza­tion of health­care to en­able a more ef­fi­cient pa­tient care con­tin­uum.

Evolv­ing land­scape

Among IVD seg­ments, molec­u­lar di­ag­nos­tics is one of the most prom­i­nent seg­ment. Molec­u­lar di­ag­nos­tics is an emerg­ing seg­ment in APAC, and com­pa­nies who are fac­ing stag­nant growth in ma­ture mar­kets have the op­tion of tap­ping pharmerg­ing coun­tries. Sig­nif­i­cant rise in health­care ex­pen­di­ture, uni­ver­sal cover­age, age­ing pop­u­la­tion and will­ing­ness to pay among con­sumers are key as­pects for com­pa­nies to fo­cus on APAC re­gion.

“Eco­nomic growth in the re­gion is fu­elling in­vest­ment in na­tional health­care in­fra­struc­tures and ex­pand­ing ac­cess to health­care. While signs point to con­tin­ued growth for the fore­see­able fu­ture, there are chal­lenges in the med­i­cal di­ag­nos­tics space, es­pe­cially in­creas­ing mar­ket com­plex­i­ties and competition from both lo­cal and multi-na­tional play­ers. We be­lieve China, In­dia and emerg­ing South­east Asia coun­tries, such as In­done­sia, are key mar­kets. They al­ready are large mar­kets for med­i­cal di­ag­nos­tics but also have sub­stan­tial un­der­served pock­ets that present sig­nif­i­cant growth po­ten­tial.

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