Advanced tests are expected to drive market development growth in the in vitro diagnostics (IVD) market through the year 2018, despite cuts to lab reimbursement, predicts a new report by Kalorama Information analyst Emil Salazar.
The report, “The United States Market for In Vitro Diagnostic Tests,” compared each IVD market segment’s actual or projected monetary share of market volume between 2013 and 2018 with the segment’s current share of the market. It projects that molecular assays for non-infectious diseases testing and histology will be the two fastest-growing IVD market segments through 2018. Because the use of histology to support cancer diagnosis and treatment is becoming increasingly reliant on immunohistochemical reagents and molecular hybridization techniques, this area represents a fast-rising market among the aging population in the United States.
But not all segments are expected to experience growth in this time period. Core lab and point-of-care IVD market segments will see below-average market development, the report predicts. Despite this, product innovation and industry responsiveness to clients’ needs should lead to stability and growth in IVD sales.
Read more about the report’s finding in the June issue of Clinical Laboratory News, or purchase the full Kalorama report online.