Demand for Diagnostic Products to Exceed $24 Billion in 2016

Aug. 9, 2012

Advances in technology, along with the introduction of new and improved reagents and instruments, will drive up demand in most in vitro (IVD) diagnostic products segments.

Adrienne Selko

An expanding volume of patient care activity, spurred by aging demographic patterns, a rising incidence of diseases and disorders, and the extension of health insurance coverage by the Affordable Care Act of 2010, will create a large demand for in vitro (IVD) diagnostic products in the United States.

The sector is predicted to increase 6.1% annually to $24.7 billion in 2016, according to a new study from the The Freedonia Group, Inc.

Advances in technology, along with the introduction of new and improved reagents and instruments, will drive up demand in most IVD product segments.

Demand for clinical chemistry products will be boosted by uses in patient health screening and diabetes self-monitoring in addition to the widening availability of integrated and point-of-care systems offering greater productivity and operating ease.

The expansion of test menus for therapeutic drug monitoring, infectious disease detection, and cancer and cardiovascular testing, along with advances in chemiluminescent and other advanced systems, will promote gains in the U.S. market for immunoassay products, the study concludes.

Companion diagnostics used to determine the safety and effectiveness of drug therapies will provide especially strong growth for immunoassay products.

Demand for molecular diagnostic products will grow the fastest among all IVD products due to their throughput, accuracy, and speed advantages in the detection of infectious diseases, tumors, and genetic disorders. The market for these products will benefit from the introduction of new, high value-added polymerase chain reaction (PCR) and related tests.

Demand for blood testing reagents and instruments will rise 3.4% per year to $2.6 billion. Competition from new immunoassay and molecular tests will moderate growth in demand. However, uses in pre-admission hospital testing, coagulation monitoring, donor matching, and donated blood screening will support gains.

Cellular analysis reagents and instruments will continue to generate sizable demand from uses in ovarian and breast cancer screening and HIV monitoring.

Demand for anatomical pathology reagents and instruments will expand well above the overall average growth pace of IVD products as clinical and forensic laboratories upgrade testing capabilities.

About the Author

Adrienne Selko | Senior Editor

Focus: Workforce, Talent

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today.

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world.