IVD Market in the US 2015-2019
IVD tests are helpful in diagnosis, screening, and disease management in humans and animals. These tests are usually performed in controlled environment, and they include blood analysis for the sign of infection and urine for the presence of glucose. The purpose of IVD test is not only to direct therapeutic effect but also to provide the health status of a patient. IVD plays an important role in supporting the decision making for clinical conditions. These advances have led to the development of point of care and self-test, which are easy and convenient for patients and medical professionals to use. The self-test include pregnancy test, blood glucose monitoring, cholesterol testing, infectious disease testing, and cardiac biomarker tests. IVD test can be performed in various settings, including clinical laboratory, a physician’s office, or at home.
Technavio's analysts forecast the IVD market in the US to grow at a CAGR of 5.45% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the IVD market in the US for the period 2015–2019. The market can be divided into three segments: consumables, instruments, and services. To calculate the market size, the report considers the revenue generated from the three segments.
Technavio's report, the IVD Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – IVD Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the IVD market in the US: Abbott Laboratories, bioMérieux, Danaher, Roche Diagnostics and Siemens Healthcare
Other Prominent Vendors in the market are: A. Menarini Diagnostics, ARKRAY, Affymetrix, Agilent Technologies, Alere, Axis-Shield, Bio-Rad Laboratories, Bruker BioSciences, Cepheid, Dako, DiaSorin, ELITech, Eiken Chemical, Fujirebio Diagnostics, GE Healthcare, Grifols, Horiba, Illumina, Instrumentation Laboratory, Johnson & Johnson, Luminex, Magellan Biosciences, Nanosphere, Nova Biomedical, Nova Century Scientific, PerkinElmer, Phadia, QIAGEN, Quidel, Quest Diagnostics, Randox Laboratories, Sysmex Hematology, Tosoh, Trinity Biotech and Werfen Life Group
Commenting on the report, an analyst from Technavio’s team said: “Disease management and individualized treatment can be enabled by diagnostic tests, which can provide real-time or rapid results. For instance, glycated hemoglobin and blood glucose monitoring tests for diabetes, cholesterol monitoring in lipid-lowering therapy, and blood level monitoring of antiretroviral drugs in HIV strains allow clinicians to obtain diagnostic information and reduce the likelihood of adverse events. These treatments can also be managed by real-time, customized approaches. Personalizing these treatments will enable better channeling of diagnostic information of the patient, and thereby communicate results directly to clinicians.”
According to the report, the Healthcare Reform Act of 2010 aimed to increase accessibility and provide quality healthcare at affordable costs to all citizens. Since its initiation, there has been an increase in the number of citizens covered by insurance. According to the Congressional Budget Office, by 2015, almost 19 million US citizens will be covered by insurance as a result of PPACA. In addition, it introduced preventive services for women such as screening for cervical cancer and mammograms, which will be covered by health plans. The full-time employees of large companies also benefited because they were initially denied health insurance by their employers. These factors will give an impetus to the growth of the market.
Further, the report states that regulatory and reimbursement issues hinder the sales of IVD components, thereby hampering market growth.
Abbott Laboratories, bioMérieux, Danaher, Roche Diagnostics, Siemens Healthcare, A. Menarini Diagnostics, ARKRAY, Affymetrix, Agilent Technologies, Alere, Axis-Shield, Bio-Rad Laboratories, Bruker BioSciences, Cepheid, Dako, DiaSorin, ELITech, Eiken Chemical, Fujirebio Diagnostics, GE Healthcare, Grifols, Horiba, Illumina, Instrumentation Laboratory, Johnson & Johnson, Luminex, Magellan Biosciences, Nanosphere, Nova Biomedical, Nova Century Scientific, PerkinElmer, Phadia, QIAGEN, Quidel, Quest Diagnostics, Randox Laboratories, Sysmex Hematology, Tosoh, Trinity Biotech, Werfen Life Group
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