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US Demand for In Vitro Diagnostic Products to Exceed $24 Billion in 2016

Tue, 08/07/2012 - 11:20am
The Freedonia Group

US demand for in vitro (IVD) diagnostic products is forecast to increase 6.1 percent annually to $24.7 billion in 2016. An expanding volume of patient care activity, spurred by aging demographic patterns, a rising incidence of diseases and disorders, and the extension of health insurance coverage by the Affordable Care Act of 2010, will underlie gains. Advances in technology, along with the introduction of new and improved reagents and instruments, will drive up demand in most IVD product segments. These and other trends are presented in In Vitro Diagnostics, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Demand for clinical chemistry products will be boosted by uses in patient health screening and diabetes self-monitoring in addition to the widening availability of integrated and point-of-care systems offering greater productivity and operating ease. The expansion of test menus for therapeutic drug monitoring, infectious disease detection, and cancer and cardiovascular testing, along with advances in chemiluminescent and other advanced systems, will promote gains in the US market for immunoassay products. Companion diagnostics used to determine the safety and effectiveness of drug therapies will provide especially strong growth for immunoassay products.

Demand for molecular diagnostic products will grow the fastest among all IVD products due to their throughput, accuracy, and speed advantages in the detection of infectious diseases, tumors, and genetic disorders. The US market for these products will benefit from the introduction of new, high value-added polymerase chain reaction (PCR) and related tests. Demand for blood testing reagents and instruments will rise 3.4 percent per year to $2.6 billion. Competition from new immunoassay and molecular tests will moderate growth in demand. However, uses in pre-admission hospital testing, coagulation monitoring, donor matching, and donated blood screening will support gains. Cellular analysis reagents and instruments will continue to generate sizable demand from uses in ovarian and breast cancer screening and HIV monitoring. Demand for anatomical pathology reagents and instruments will expand well above the overall average growth pace of IVD products as clinical and forensic laboratories upgrade testing capabilities.

                                                                                                                                               

US IN VITRO DIAGNOSTIC PRODUCT DEMAND

(million dollars)

 

% Annual Growth

Item

2006

2011

2016

2006-

2011

2011-

2016

 

 

 

 

 

 

IVD Product Demand

13560

18410

24740

6.3

6.1

Reagents & Consumables

11280

15470

20940

6.5

6.2

Instruments & Systems

2280

2940

3800

5.2

5.3

 

 

 

 

 

 

 © 2012 by The Freedonia Group, Inc.

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