LONDON, May 30, 2017 /PRNewswire/ -- The IVD market, defined in procedure volume and pricing tables makes up the market data
The report estimates IVD test procedure Volume and IVD Pricing for the following segments
The report includes estimates of average fees paid toclinical laboratories and medical establishments for specific groups of IVDprocedures. In addition, list pricespublished by producers are provided for selected IVD tests, reagents, andinstruments. A table that measures thetotal amount of IVD product sales against the total volume of IVD procedures ispresented for each major testing category.
An estimated 80 percent of all conditions diagnosed by physicians worldwide are based at least partially on the results of IVD procedures. Information provided by these procedures is also used to assess the progression of diseases, monitor the effectiveness of drug therapies, and develop personalized medicine regimens.
IVD testing technology has progressed significantly over the past few years, spurred by advances in functional genomics and proteomics as well as by innovations in automated instruments, bioinformatics, and telecommunications. These developments are expanding the availability of new tools for the detection and analysis of major worldwide health problems, including cancer, diabetes, heart disorders, and infectious diseases. Evolving global epidemiological patterns, along with changing patient care approaches, are boosting demand for a full range of routine and esoteric IVD procedures.
Advances in technology and the introduction of new and improved reagents and instruments will drive up global demand for most types of IVD procedures. Esoteric and other specialty tests will capture an increasing share of volume as medical providers in the developed countries seek to improve the prognosis of patients with chronic, life-threatening conditions through earlier and more accurate detection and enhanced therapeutic monitoring. Nonetheless, routine tests will continue to account a much larger percentage of world IVD procedures based on lower cost advantages and continuing upgrades in capabilities.
The following tables analyze the global IVD market in termsof product sales, procedure volume, and procedure fees and costs. Historically, the volume of IVD procedureshas exceeded the volume of patient activity by a wide margin. This trend is expected to continue over thelong term and reflects that:
·Many individual IVD tests, including completeblood counts, lipid profiling, metabolic panels, and certain infectious diseaseassays, involve multiple procedures and often require multiple blood draws;
·Several medical conditions, including cancer,diabetes, end-stage renal disease, and hepatitis, require regular testing tomonitor their progression and assess the effectiveness of prescribed therapy;
·Advances in point of care (POC) over-the-countertests are enabling an increasing number of patients to self-monitor medicalconditions, reducing their need for physicians' visits.
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