Report: Most IVD Companies Looked Outside Europe and US For Growth
China, Brazil, Korea See IVD Market Growth and Industry Attention
NEW YORK, Aug. 21, 2014 /PRNewswire/ -- Growth in the $54.6 billion in 2013 came from emerging markets while developed nation markets grew slowly, according to Kalorama Information. The healthcare market research publisher said that China Brazil, and Korea were among the countries that received industry interest in the form of acquisitions, partnerships and expanded sales efforts. Kalorama revealed the market estimates in its biennial survey of the IVD industry, The Worldwide Market for In Vitro Diagnostic Tests, 9th Edition.
The report can be found at: http://www.kaloramainformation.com/redirect.asp?progid=86567&productid=8326563.
"All of the major IVD companies reported large increases in the top seven emerging markets," said Shara Rosen, RT, MBA. "This is fuelled by privatization and health insurance initiatives by governments and employers. Medicare price cutting in the U.S. expected to continue and an essentially flat IVD market in Europe expected for the next few years."
Not surprisingly, China was the target for most efforts. Most IVD major IVD companies reported at least 25% increase in their sales in China, according to Kalorama. In 2012, Abaxis Inc. licensed Abbott Point of Care exclusive rights to distribute and sell its Piccolo Xpress clinical chemistry system and product line of single-use reagent discs in China. Qiagen inked a distribution deal with KingMed Diagnostics, China for its HPV test.
In Brazil, Roche and Qiagen were among the large companies reporting expanded sales. OPKO Diagnostics bought Sao Paulo-based distributor Silicon Comercio. November 2012, Trovagene announced that it would collaborate with the PIO XII Foundation in Brazil to evaluate the performance of the firm's urine-based molecular assay for HPV types associated with cervical lesions, in order to test the viability of their test for replacing pap smears in the Brazilian healthcare system.
While Brazil and China have long been noticed, Korea was an increasing focus area for IVD companies in the past two years, according to the report. Life Technologies, part of Thermo Fisher expanded its Korean distribution South Korean instrument distributor Life Science Korea. Agilent began a partnership with a Korean university. Seegene and NanoBioSys Inc are among the Korean firms that launched products in the past few years.
The report projects that these type of developments will continue. Emerging IVD markets, primarily Brazil, China and India, will still experience market growth two to three times global average for the in vitro diagnostics market. But the report also makes clear that the dollars are still in developed systems, and their slow growth will tame growth forecasts in the industry.
"This growth has a negligible effect to compensate for the lack of significant growth in major markets of Europe, Japan and the U.S," Rosen said.
The Worldwide Market for In Vitro Diagnostics, 9th Edition presents the trends, technologies, customer needs and major suppliers with an eye on how they are shaping the IVD industry. Find the report along with other industry leading research from Kalorama Information at: http://www.kaloramainformation.com/.
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. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
Contact:
Bruce Carlson
(212) 807-2622
[email protected]
Logo - http://photos.prnewswire.com/prnh/20140801/132634
SOURCE Kalorama Information
Share this article