Jan 14, 2013 | Digital Pathology, Instruments & Equipment, Laboratory Hiring & Human Resources, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
Growth in global IVD markets is indicator of increasing demand for clinical laboratory and anatomic pathology testing
During the next 24 months, the global in vitro diagnostics (IVD) market is predicted to exceed $50-billion in revenues. However, this robust growth has an upside and a downside for the clinical laboratories and pathology groups that purchase IVD analyzers, reagents, and consumables.
In a recent story in about the IVD industry, Frost & Sullivan, a global consulting and research firm, made predictions in different segments of the IVD market. It won’t surprise pathologists and clinical laboratory managers that the two fastest-growing segments are molecular and tissue diagnostics. (more…)
Mar 19, 2012 | Laboratory Management and Operations, Laboratory Operations, Laboratory Pathology
Annual growth rates of 11% or more is predicted for molecular diagnostics in coming years
Just as consolidation and acquisitions reshaped the in vitro diagnostics (IVD) manufacturing industry and concentrated market share among just a handful of multi-billion dollar IVD giants, a similar consolidation can be seen in the molecular diagnostics sector. Today it is estimated that just nine global companies control 75% of the molecular diagnostics market.
That market concentration means clinical laboratories and anatomic pathology groups have a just a handful of primary vendors from which to purchase many of the molecular diagnostic assays and genetic tests that are used most frequently in clinical care.
Frost and Sullivan published a detailed study about the molecular diagnostics marketplace. The consulting firm estimated that worldwide sales of molecular diagnostics totaled $4.1 billion in 2010. By contrast, total IVD sales globally were about $48 billion in 2010. That total includes the routine, reference, and esoteric test kits, reagents, and supplies used every day by medical laboratories.
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