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In Vitro Diagnostic (IVD) Market by Product Type, Application and Technology - 2017
The global in vitro diagnostics market is a fragmented market with the top five companies,Roche Diagnostics, Siemens Healthcare, Johnson & Johnson, Danaher Corporation, and Abbott Laboratories, governing 58.9% of the total market share. Roche is the leader in the professional diagnostics (clinical chemistry and immunochemistry) market. The company has a broad product portfolio including products under various categories, such as professional diagnostics, tissue diagnostics, molecular diagnostics, and diabetes care. Due to its wide range of diabetes care (Accu-Chek series) products, it has also become a leader in the blood glucose monitoring market. The company adopted product development and innovation as the dominant strategy to sustain its leadership position in the global in vitro diagnostic (IVD) market.
New product development and launch is the most preferred strategy acquired by leading market players followed by agreements, partnerships, collaborations, and joint ventures and mergers and acquisitions. Market players adopt these strategies to access new technologies, expand their product portfolio, enter into growing markets, and/or to increase their market share. In addition to the top market players, companies such as Alere Inc.; Becton, Dickinson and Company; biorieux; Bio-Rad Laboratories; Hologic, Inc.; and QIAGEN N.V. primarily focused on mergers and acquisitions to accelerate their global product offerings. Companies such as ARKRAY, Inc. and DiaSorin S.p.A. adopted expansions as the dominant strategy to sustain their growth in the market.
Major strategic developments take place in the field of cancer diagnostic technologies which exhibits high-growth potential in the near future. Dominant market players such as Roche Diagnostics, QIAGEN N.V., Siemens Healthcare, and Abbott Laboratories, Inc. introduced several tests for cancer diagnosis in order to keep pace with the industry. The molecular diagnostics technology is also gaining popularity, primarily due to the increasing demand for personalized medicines. The high demand for personalized medicines is a potential area that encourages companies to invest in the IVD reagents and devices market. Becton, Dickson and Company; Hologic, Inc.; QIAGEN N.V.; DiaSorin S.p.A.; and biorieux are some of the growing diagnostics companies focusing on the growth of their molecular diagnostics business predominantly through mergers and acquisitions. In addition, biomarkers are also facing emerging trends in the market that uncovers new growth opportunities for IVD companies. For instance, in June 2011, QIAGEN NV acquired Ipsogen S.A. to leverage its broad range of assays covering 15 biomarkers for the prognosis, diagnosis, and monitoring of blood cancers. The acquisition enabled QIAGEN NV to develop its business in molecular assays for profiling and personalized healthcare.
The demand for sophisticated diagnostic techniques and increasing acceptance of personalized medicines are the emerging fields attracting the companies to plunge into IVD market.
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In Vitro Diagnostic (IVD) Market [Instruments, Reagents & Data Management Systems] [Technique (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Haematology) & Applications (Diabetes, Infectious Diseases, Cancer & Cardiology)] Systems, End Users] – Forecast To 2017
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