The IVD infectious disease market was estimated more than USD 13 billion in 2014. It will witness nearly 8.5% CAGR over the forecast period (2015 to 2022). Major market drivers include wide prevalence of communicable diseases, lower immunity, older population, and awareness regarding infectious diseases.
Older populace with lowered immunity should offer a broad base for market expansion. It suffers multiple infections and is also prone to other illnesses. The market is fragmented into applications, products, technologies, and regions. On the basis of applications, IVD devices are used for testing streptococcus, MRSA, hepatitis, HIV, and influenza.
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HIV is ‘most prevalent’ in low income & industrial nations. It is expected to grow rapidly in the future. This would happen on account of rising HIV incidences, self testing & novel kits, and unmet clinical demands in emergent countries. Supportive governmental policies could spur the IVD infectious disease market.
Based on products, the market is sliced by reagents, instruments, and software. Reagents encompass immunoassays and molecular diagnostics. They held the largest shares in 2014. This was ascribed to the availability of ‘kit’ ranges and broad use of immunoassays for testing infectious diseases. Instruments could profit in the seven years ahead.
They are used specifically for detecting & analyzing infections in blood. Some of them comprise BD Max and cobas 4800. As far as technology segments are concerned, immunoassays dominated the IVD infectious disease market in 2014. This technology earned over USD 4.5 million that year. Their cost-efficiency, popularity in clinical laboratories, and user friendliness propel their growth.
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With regards to regions, North America accounted for the highest market incomes in 2014, with over 35% shares. The same was credited to its high-tech medical infrastructure, technological innovations, and higher disposable earnings. The regions of Middle East & Africa and Asia Pacific are likely to display huge potential from 2015 to 2022.
The global IVD infectious disease market is oligopolistic. Lower hygiene practices & health awareness and ’early testing’ taboos are its other drivers. Prime participants like Roche Diagnostics, Becton Dickinson (BD) Company, Abbott Laboratories, and Bio-Rad Laboratories dominate the market.
They indulge in product innovations that help them occupy significant shares and attain stability. Participants also ensure the integration of these advancements in their instruments.
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