US IVD Market to Grow Annually by 2.5% by 2017, Expects GlobalData
14 Mar 2013 • by Natalie Aster
The current IVD market includes immunochemistry, molecular diagnostics, blood donor screening, hematology, hemostasis, and point-of-care testing. As the IVD market evolves to become more efficient and less costly, a shift from manual testing to automated methods is essential. Furthermore, as patient care shifts from the hospital to the alternate care setting, IVD is likely to follow.
Overall market growth will be driven by the increasing prevalence of chronic diseases in the U.S. population, many of which require IVD testing. Therefore, over the forecast period, the market is expected to grow at a compound annual growth rate (CAGR) of 2.5% by 2017.
The report "United States In Vitro Diagnostics Market Outlook to 2018- Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry" by GlobalData states that the molecular diagnostics market is expected to grow as more assays become FDA approved and testing shifts to molecular methods from microbiology or immunoassay disciplines. Molecular diagnostics involves tests for detection of nucleic acids, including DNA, RNA, and related proteins. The main areas of molecular diagnostic testing include infectious disease, genetic disease, and oncology testing.
United States In Vitro Diagnostics Market Outlook to 2018- Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry
Published: November, 2012
Price: US$ 2,500.00
Traditional testing methods to detect proteins lack the sensitivity necessary to detect minute amounts of protein that may be present in early stages of disease. Current methods include chemiluminescence and enzyme-linked immunosorbent assay (ELISA), which require higher concentrations of protein biomarker. Thus these methods are only effective once the disease has progressed. As early detection of disease becomes more important, more sensitive methods, such as molecular testing, will gain popularity. Molecular testing methods can detect protein at concentration levels hundreds’ less than current immunoassay techniques, thus enabling earlier detection of disease and more-accurate monitoring of disease progression.
The infectious-disease assay market will be driven by development of new assays for different diseases and conditions. Growth experienced a spike in 2010 due to the introduction of an FDA-approved assay for Herpes Simplex Virus. Therefore the market for molecular diagnostics will grow at a CAGR of 2% to exceed $2.38 billion by 2017.
More information can be found in the report “United States In Vitro Diagnostics Market Outlook to 2018- Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry” by GlobalData.
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