An Ageing Population Boosts Demand for IVD Testing, Finds Frost & Sullivan

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• Publié par: frost-sullivan
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• Langue: English

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An Ageing Population Boosts Demand for IVD

Testing, Finds Frost & Sullivan

PR Newswire

LONDON, June 26, 2012

- Market Prospects Being Propelled by Adoption of Automation in

Laboratories

LONDON

,

June 26, 2012

/PRNewswire/ --

Western Europe

's greying population,

coupled with the growing shift towards laboratory automation, are spelling

good news for the in vitro diagnostics (IVD) market.

New analysis from Frost & Sullivan (http://www.drugdiscovery.frost.com),

Western European In Vitro Diagnostics (IVD) Market

, finds that the

market earned

$13,110.3 million

in 2011 and estimates this to reach

$22,211.3

million

in 2018 at a compound annual growth rate (CAGR) of 7.8 per cent from

2011-2018. The research covers key segments such as immunochemistry,

microbiology, molecular diagnostics, point-of-care testing (POCT), self-

monitoring of blood glucose (SMBG), tissue diagnostics, haematology and

haemostasis.

"An increasingly ageing population and the rising prevalence of diseases are set

to boost the number of routine health checks and disease diagnosis," notes

Frost & Sullivan Senior Research Analyst K. Srinivas Sashidhar. "Improved

awareness among this ageing demographic pool is also poised to enhance the

demand for screening and diagnosis in the future."

The growing shift towards automation in laboratories is also boosting the

prospects of the IVD market. Automation enables faster diagnostic results,

shorter turnaround time and increased testing volumes

.

This driver is expected

to have a very high impact in the long-term.

Another key trend has been industry consolidation as a result of high R&D and

marketing costs. Market participants need to constantly improve their products

and technology to stay competitive. This necessitates considerable R&D

investments. As companies attempt to reinforce their finances and technical

strengths, the outcome has been a greater number of partnerships and

acquisitions.

"Such consolidation is resulting in fewer participants dominating the market,

with smaller companies finding it more challenging to exist," comments

Sashidhar. "This factor is expected to have a significantly high impact on the

market during the forecast period."

Another trend set to impact market prospects is the shifting focus towards

personalised medicine and customised solutions. Personalised medicine is on

the verge of expansion throughout

Western Europe

, with efforts ongoing to

optimally combine therapeutics with diagnostics.

"Diagnostic companies need to work with pharmaceutical companies to

improve treatment solutions for patients," remarks Sashidhar. "The

development of IVD products and solutions best suited to meet customer needs

represents the way forward."

The IVD market is technology-driven. The escalating demand for IVD testing will

require improved products and long-term, post-sales service. Market

participants will need to develop solutions best suited to customer needs to