Top 6 Trends Affecting the Diagnostics Market
Key Trends in the In Vitro Diagnostics Market
Stricter US Food and Drug Administration (FDA) regulations in the US impede innovation and adoption of devices and tests in this region. Europe, even though more lenient on the regulation front, is impeded by strict reimbursement policies. Lenient policies and reimbursement breaks make China, South America, and Africa attractive for companies to launch new products.
Increasing integration of digital devices is changing the face of healthcare. Technology ranges from simple automation systems in labs to Electronic Health Records (EHRs) utilizing Big Data to deliver personalized medicine.
The inequity of access to laboratories, especially in rural and remote areas of Africa, South America, and other developing regions encourages governments to invest more in Point-of-care Tests (POCTs). Increasing adoption of POCTs in Europe and the US spurs this market space.
In order to become cost effective, labs in developed nations are consolidating and optimizing their labs by investing in equipment. There is a growing trend of automating labs to meet the booming demand in an efficient manner.
About this report
The IVD market constantly changing. Mega Trends such as consolidation, automation, and reimbursement policies affect every aspect of the market. This study looks at the effects of these trends on three global consumer segments: hospitals, laboratories, and patients. 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 the growing digitalization of healthcare to enable a more efficient patient care continuum.