In Vitro Diagnostic eCommerce Business Models Growth Opportunities

In Vitro Diagnostic eCommerce Business Models Growth Opportunities

Disruptive Differentiation in Supply Chain Management Drives New Growth Potential

RELEASE DATE
05-Jul-2022
REGION
North America
Research Code: K789-01-00-00-00
SKU: HC03549-GL-MR_26609
$2,450.00
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Description

Diagnostics are central to healthcare, but not accessible to all. A 2020 Lancet study states that 47% of the global population has little to no access to accurate diagnostics, emphasizing the need for equitable distribution across geographies and containing procurement costs. The COVID-19 pandemic increased demand for personal protective equipment, consumables for molecular diagnostics, vaccines, and POCT testing for SARS-Cov2. However, serious glitches in supply and logistics due to poor procurement strategies led to manufacturing delays and a surge in diagnostics and healthcare costs. Vendors of R&D prototyping, small-batch manufacturing services, and niche testing labs recorded the largest revenue drop across the value chain. The coronavirus also accelerated healthcare digitalization, including in vitro diagnostics (IVD). Engineering and technological innovations present opportunities to create new eCommerce platform solutions in the diagnostics segment, emphasizing global connectivity, transparency, access, scalability, and cost efficiencies. These features reduce the gaps in the IVD industry, improve access, and democratize diagnostics to empower providers, payers, and patients. Lessons learned from the pandemic in 2020 and 2021 serve as the building blocks to strengthen healthcare systems, primarily timely health service delivery, attention to the healthcare workforce, need for robust health information systems, access to diagnostics (analogous to essential medicines), efficient supply chain for procurement and supplies, and seamless communication and interconnectedness, financing, leadership, and governance. eCommerce marketplaces for healthcare and IVD provide an opportunity to buy, sell, lease, market, and procure diagnostic products and service information on any internet device, such as the computer (web-based) or mobile (mCommerce). Pharmaceuticals, biotech companies, contract research organizations, hospitals, clinics, universities, laboratories, government, and customers can use these technology platforms to access the global ecosystem. While technology infrastructure within eCommerce is evolving, essential technologies enabling healthcare transactions include EDI, bar codes, cloud, product data exchange, and electronic forms. This study assesses the eCommerce business potential across sectors, creating resilient healthcare and diagnostic market opportunities for R&D, manufacturing, and supply chain functions. It explores other scalable, cost-efficient business opportunities with new B2B products, customized outsourcing services, and technology-enabled tools for efficiency and ease of operations. The IVD market is buoyant due to the soaring demand for products, molecular diagnostics, immunoassays, and POCT in chronic diseases. The rise in consumerization, telehealth, and ePharmacy also push it toward further digitalization with advanced artificial intelligence, machine learning, and the internet of things technologies. The study also examines the competitive environment, strategies, market models, and use cases for success in the IVD eCommerce platform industry.

Author: Tejashri Manish Khadilkar

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the In Vitro Diagnostic eCommerce Platform Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Objective and Methodology

In Vitro Diagnostic Ecommerce Industry Landscape

Market Segmentation 

Growth Drivers

Growth Drivers (continued)

Growth Restraints

Growth Restraints (continued)

Macro to Micro Visioning

Technology Adoption Among Patients, Providers, and Physicians

Cross-sector Collaborations Encourage Industry Players to Explore Potential Partnership Opportunities 

Cross-sectoral Interconnectedness Acts as a Force Multiplier for B2B and B2C Markets 

Preferred Channels and Strategic Priorities

Preferred Channels and Strategic Priorities (continued)

Preferred Channels and Strategic Priorities (continued)

Preferred Channel by Diagnostic Device Type

Preferred Channel by Solutions and Service Types 

Market Attractiveness and Partnership Opportunity

Competitive Environment—IVD and eCommerce Marketplace

Competitive Environment—IVD and eCommerce Marketplace (continued)

B2B eCommerce Supply and Demand Channel Pain Points 

Strategies of IVD eCommerce Industry Participants

Strategies of IVD eCommerce Industry Participants (continued)

Strategies of IVD eCommerce Industry Participants (continued)

Strategies of IVD eCommerce Industry Participants (continued)

Strategies of IVD eCommerce Industry Participants (continued)

B2B Supply Chain Marketplace Benefits for Distribution Value Chain Stakeholders 

Use Case—Abbott Diagnostics

Use Case—Siemens Healthineers

Use Case—Thermo Fisher Scientific Corporation

Use Case—LabX

Use Case—KWIPPED

R&D Supply Chain—Online Platform Promises Market Opportunities

Use Case—ZAGENO, Inc.

Use Case—Science.com

Use Case—Wazoku

Competitive Environment—B2C Digital/ePharmacy

Pain Points of B2C Digital/ePharmacy Providers and Suppliers

Strategies of B2C Digital/ePharmacy Industry Participants

Strategies of IVD B2C Digital/ePharmacy Industry Participants (continued)

B2C Digital/ePharmacy Offers Customer-centric Value-added Services and Products

Use Case—Amazon Pharmacy

Use Case—CVS Pharmacy

Case Study—Walgreens Boots Alliance

Conclusion

Growth Opportunity 1—Technology-enabled eCommerce Supply Chain for Scalability Enhanced Customer Experience 

Growth Opportunity 1—Technology-enabled eCommerce Supply Chain for Scalability and Enhanced Customer Experience (continued)

Growth Opportunity 2—R&D eCommerce Marketplace Opens Opportunities and Optimizes Cost and Time for Researchers and Scientists

Growth Opportunity 2—R&D eCommerce Marketplace Opens Opportunities and Optimizes Cost and Time for Researchers and Scientists (continued)

Growth Opportunity 3—Telepharmacy Services for Comprehensive Disease Management

Growth Opportunity 3—Telepharmacy Services for Comprehensive Disease Management (continued)

The Difference Between eCommerce and eBusiness

Business Model Shift

Business Model Shift (continued)

List of Exhibits

Legal Disclaimer

Diagnostics are central to healthcare, but not accessible to all. A 2020 Lancet study states that 47% of the global population has little to no access to accurate diagnostics, emphasizing the need for equitable distribution across geographies and containing procurement costs. The COVID-19 pandemic increased demand for personal protective equipment, consumables for molecular diagnostics, vaccines, and POCT testing for SARS-Cov2. However, serious glitches in supply and logistics due to poor procurement strategies led to manufacturing delays and a surge in diagnostics and healthcare costs. Vendors of R&D prototyping, small-batch manufacturing services, and niche testing labs recorded the largest revenue drop across the value chain. The coronavirus also accelerated healthcare digitalization, including in vitro diagnostics (IVD). Engineering and technological innovations present opportunities to create new eCommerce platform solutions in the diagnostics segment, emphasizing global connectivity, transparency, access, scalability, and cost efficiencies. These features reduce the gaps in the IVD industry, improve access, and democratize diagnostics to empower providers, payers, and patients. Lessons learned from the pandemic in 2020 and 2021 serve as the building blocks to strengthen healthcare systems, primarily timely health service delivery, attention to the healthcare workforce, need for robust health information systems, access to diagnostics (analogous to essential medicines), efficient supply chain for procurement and supplies, and seamless communication and interconnectedness, financing, leadership, and governance. eCommerce marketplaces for healthcare and IVD provide an opportunity to buy, sell, lease, market, and procure diagnostic products and service information on any internet device, such as the computer (web-based) or mobile (mCommerce). Pharmaceuticals, biotech companies, contract research organizations, hospitals, clinics, universities, laboratories, government, and customers can use these technology platforms to access the global ecosystem. While technology infrastructure within eCommerce is evolving, essential technologies enabling healthcare transactions include EDI, bar codes, cloud, product data exchange, and electronic forms. This study assesses the eCommerce business potential across sectors, creating resilient healthcare and diagnostic market opportunities for R&D, manufacturing, and supply chain functions. It explores other scalable, cost-efficient business opportunities with new B2B products, customized outsourcing services, and technology-enabled tools for efficiency and ease of operations. The IVD market is buoyant due to the soaring demand for products, molecular diagnostics, immunoassays, and POCT in chronic diseases. The rise in consumerization, telehealth, and ePharmacy also push it toward further digitalization with advanced artificial intelligence, machine learning, and the internet of things technologies. The study also examines the competitive environment, strategies, market models, and use cases for success in the IVD eCommerce platform industry. Author: Tejashri Manish Khadilkar
More Information
Author Tejashri Manish Khadilkar
Industries Healthcare
No Index No
Is Prebook No
Podcast No
WIP Number K789-01-00-00-00