NEW YORK, April 15, 2015 /PRNewswire/ -- Kalorama Information says overall growth in the clinical chemistry market will be modest, driven by new tests and contributing factors such as an aging population and the growing number of people at risk of cardiovascular disease including those with hypertension, diabetes mellitus and abdominal obesity. Despite the mature status of routine testing, the healthcare market researcher says the clinical chemistry market is continuously redefining itself via new test processes and test menus. The healthcare market research publisher's report, The Worldwide Market for In Vitro Diagnostic Tests, looks not only at clinical chemistry, but also at all the major segments of clinical lab testing.
Kalorama expects modest growth in the clinical chemistry market, in spite of predicted explosive growth in emerging markets such as India, China and Brazil and the expansion of healthcare in those countries. This is because the U.S., Europe and Japan account for at least 85% of the market and these regions should continue to dominate for the next five years. Intense provider consolidation in the United States, commoditization of most chemistry offerings and increasing price pressures have pushed the cost per test of routine chemistries just about as low as possible.
"This is a mature market but there will be some growth, likely modest growth, from sales to emerging markets and expanding test menus," said Bruce Carlson, Publisher of Kalorama Information.
What growth will occur in this segment, the report says, derives from new tests in the area of lipid analysis, proteins, hormone and enzymes related to research in diabetes, cardiovascular disease, cancer, and other acute and chronic conditions. There is a continuous addition of new tests to the lab menu. Homocysteine, anti-CCP, tumor markers, procalcitonin, Vitamin D, autoimmune ANAs, allergy, BNP, hsCRP and hemoglobin A1c are examples of this trend.
Top vendors in this market include Abbott, Beckman Coulter, Roche and Siemens. These companies have invested in new systems that respond to the drive for automation of testing in search of improved laboratory profitability.
Clinical chemistry labs are challenged to add new tests with little increase in financial and human resources. For most labs it may even mean doing more with less. With continuing cuts in government reimbursement rates for laboratory testing, along with cost-cutting measures adopted by the managed care industry and the move to cut health care costs in general, clinical laboratories are exploring ways to improve productivity with smaller budgets. In order to survive in the future, it will be necessary for labs to run more tests, test in fewer sites, operate with less equipment, maintain lower operating costs, hire less skilled labor and harness additional automation.
As pressure has increased to cut healthcare costs, laboratories have relied on automation to maintain profitability. Laboratory automation optimizes efficiency and minimizes errors by integrating mechanical, electronic, and informatics tools to perform an ever expanding variety of laboratory tasks. About one-third of laboratories in Japan, Europe, and North America have implemented a significant degree of central laboratory automation.
The Worldwide Market for In Vitro Diagnostic Tests is the result of months of painstaking work by an IVD industry veteran, who has tracked hundreds of companies for developments, trends and financial results. This research is compiled along with the opinion, observations and insights of industry experts to produce an unparalleled vision of the IVD industry as it is today and as it will be in the future.
Kalorama's report covers not just the Clinical Chemistry Lab, but also the other major segments of clinical lab testing, including:
- Point-of-Care (POC) testing
- Histology and Cytology
- Lab-Based Infectious Disease Immunoassays, by Test
- Molecular Assays
- Molecular Test Sales, Infectious Diseases
- Lab-Based Immunoassay Sales by Analyte Type
- Microbiology and Virology by Test Type
- Blood Banking
The volume includes market estimates for 2013 base year and forecasts to 2018.
The information presented in this report is derived on publicly available information sources such as company, government, and medical organization reports. The analysis is based on the author's industry knowledge combined with literature searches and interviews with industry professionals and experts in the IVD industry. The report can be found at Kalorama Information: http://www.marketresearch.com/redirect.asp?progid=87331&url=http%3A%2F%2Fwww%2Ekaloramainformation%2Ecom%2FWorldwide%2DVitro%2DDiagnostic%2D8326563%2F.
Kalorama is currently conducting further research into the Clinical Chemistry market and will publish a report on the subject. Abbott, Roche and Siemens are among the companies in this market.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
SOURCE Kalorama Information