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Digital Pathology and Laboratory Automation are Two Strategic Themes Driving the Growth of the IVD Market
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The study aims to analyze and forecast the Asia Pacific (APAC) in-vitro diagnostics (IVD) market outlook and technology trends for 2016.Research Scope: • Key trends and opportunities in the IVD market, which has been segmented into 8 major divisions: o Immunochemistry o Self-monitoring Blood Glucose (SMBG) Meter o Hematologyo Point-of-care Testing (POCT)o Tissue Diagnostics o Hemostasis o Clinical Microbiology o Molecular Diagnostics• Regional trends in APAC; it covers China, India, Japan, Australia, South Korea, and member states of the Association of Southeast Asian Nations (ASEAN)The APAC IVD industry is undergoing major transformation. Paradigm shifts in the Asian healthcare ecosystem are driving the future of the IVD industry with stellar growth rates and rampant uptake of innovative technologies. Market penetration of molecular diagnostic (MDx) tests in infectious disease diagnosis, laboratory automation for high throughput operational efficiency, and digital pathology are three major themes that will impact the future of clinical pathology in Asia. The spurt in the number of private healthcare sectors and market shift towards quality care, private insurance, and high demand for medical tourism have led Asia to be on par with western counterparts in terms of availability and access to novel technologies. However, given the huge potential and market opportunities, there remain significant challenges in the complex market with preferential demands in Asian countries and fluidic regulatory and market access networks that pose significant challenges for operating companies. The APAC IVD industry, worth $ 14.44 billion in 2016, is expected to reach $19.64 billion in 2021 growing at a CAGR of 6.3%. In molecular diagnostics, infectious disease has the highest market share of 72.0%, followed by oncology (14.3%), genetic disorders (10.0%), and pharmacogenomics (3.7%). Digital innovations in the IVD industry, such as digital pathology, precision medicine, and health analytics are radically changing the care continuum in APAC. The IVD market is moving towards total laboratory automation from task-targeted automation. Although stand-alone automation systems are cost effective in clinical labs, multiple stakeholders in the healthcare ecosystems including physicians, payers, and administrators demand “connected-pathology solutions.”Key Questions This Study will Answer:1. What is the current IVD market scenario in Asia? 2. What are the emerging segments in Asia? 3. What are the hot beds in Asia for investment in diagnostics? 4. What are the regional dynamics that impact the growth of the IVD industry? 5. What is the penetration of novel diagnostic solutions across the care continuum pathway?
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