IVD Sector Not Affected by Current Economic Conditions

The in vitro diagnostics (IVD) market will not be affected by current economic conditions for a number of reasons.

Demand for healthcare and diagnostic tests in all the major markets is driven by aging populations and the increased incidence of conditions such as cancer, diabetes, cardiovascular disease, arthritis, and obesity. There is an emerging menu of specialized tests for these diseases, but routine tests are used as the first line of diagnosis.

Market growth for chemistries, immunoassays, hematology, coagulation, microbiology, and histology/cytology tests are related to an increase in the volume of tests performed rather than higher pricing, and more demand for healthcare is expected to translate into greater test volume.

In May, 2008 Kalorama Information (New York, NY, USA), an international market research company, published a report forecasting that the IVD sector would grow steadily to a US$56 billion industry by 2012. Shara Rosen, lead diagnostic industry analyst for Kalorama Information, said, "Economic conditions in the larger economy have not changed our forecasts for the routine market, which describes most of in vitro diagnostics. Expansion of the market for IVDs will continue at its traditional rate of six percent per year.”

Kalorama Information reported that the aging population, demand for healthcare and emerging markets, as well as planned federal healthcare initiatives are still driving the IVD sector. It is also possible that the IVD market forecast remains stable because it suffered in previous recessions.

Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services.

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