SOURCE: Kalorama Information
NEW YORK, NY--(Marketwire - Feb 11, 2013) - In a sign that testing has become a significant part of clinical practice, Kalorama Information has noted that the total amount of in vitro diagnostic test procedures conducted globally reached 19.1 billion in 2012 and is expected to rise by 4.2% per year through 2017. The finding was made in Kalorama Information's newly published report: "IVD Procedure Volume and Pricing Analysis."
The report notes that approximately 80% of physicians' diagnoses are a result of laboratory tests. In addition to disease diagnosis, clinical lab testing is also performed to evaluate disease progression, monitor drug treatment and conditions, determine individual therapy, and several other reasons. Kalorama's procedure analysis includes core lab procedures such as general chemistries, blood gas analysis and urinalysi. It also includes immunoassays, a variety of infectious disease tests, HbA1c tests, Autoimmune testing, PT coagulation tests, and a variety of molecular tests, among many tests counted.
"In vitro diagnostics has proved its mettle as a cost saver and a patient outcome booster," said Bruce Carlson, Publisher of Kalorama Information. "While that doesn't mean every test product will be successful, we do think the environment for testing products in general is very good, and it's reflected in revenues and investor interest."
The report found that the aging of the global population, high and rising incidence of disease, ongoing technology development and introduction of labor-saving systems were driving the test procedure increases. Core lab tests, including low cost clinical chemistry tests and more advanced immunoassays, represented approximately most of the procedure volume with a growing share in the developing nations. Around the world, IVD and clinical laboratory tests are utilized in a wide variety of healthcare settings. In general, IVD tests are utilized most commonly in hospitals, physician offices and independent clinical labs. Clinical laboratory tests, however, can be conducted in a broad range of settings including ambulances, health fairs, hospices, pharmacies and other locations.
The report indicated that around the world, IVD and clinical laboratory tests are utilized in a wide variety of healthcare settings. In general, IVD tests are utilized most commonly in hospitals, physician offices and independent clinical labs. Clinical laboratory tests, however, are used in a much broader range of settings including ambulances, health fairs, hospices, pharmacies and other locations. A wide number of companies compete for these procedures, including Abbott Laboratories, Roche, Quest, Alere, Danaher, Becton, Dickinson & Co., LabCorp, Ortho Clinical, Qiagen, Bio-Rad and Siemens. Kalorama's report breaks out each company's share of world procedure volume.
"In our analysis we tried to look at not just how many tests are performed today, but how many tests will be performed," said Carlson. "Emerging countries will perform a greater share of procedures in the future, and marketers will need to adapt to that."
The report, "IVD Procedure Volume and Pricing Analysis" contains a breakout of procedures by test, by company and by regions. The report can be found at http://www.kaloramainformation.com/IVD-Procedure-Volume-7343709/
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.