Tests which are performed in test- tubes or in a controlled environment outside a living organism to provide diagnosis are known as In-vitro diagnostic (IVD) tests. Contemporary IVD industry commonly uses analytical instruments and reagents to perform various tests to diagnose study and monitor various kinds of diseases. The reagents used are specialized chemicals which are capable of reacting with target substances such as tissue, blood, urine etc, found in the sample provided by the patient. Also, the analytical instruments include various equipments that bring the sample and the reagent together for the reaction to happen and automate the process.
The IVD market of BRIC economies is expected to witness immense growth opportunities due to increased healthcare budgets, increased number of hospitals and technological advancement. Moreover, BRICS is viewed as one of the attractive markets for MNCs concerned with healthcare sector due to the increasing awareness among consumers and large untapped population. Therefore, heavy investments are being made to expand market shares in these areas. However, absence of strict regulations in respect to the patient’s safety is considered as a hurdle for the growth of IVD market, to a certain extent.
The BRICS IVD market is expected to have a healthy growth rate. Various application segments studied in this report include Molecular diagnostics, Clinical Chemistry, Microbiology, Immunology, Hemostasis, Cytology, Cardiac markers, Hormones/marking tumors and Hematology. Clinical chemistry is expected to lead in terms of market size among all the other segments and molecular diagnostics is expected to witness highest growth rate during the forecast period. Among the BRICS nations China is forecasted to account for a larger share of the IVD market followed by Brazil, Russia and India.
Some of the market players profiled in this report include Abbott diagnostics, Sysmex Corp, Mindray ltd, Oxoid ltd, Beckman Coulter Inc, Diasorin diagnostics spa, Ortho-clinical diagnostics Inc, Horiba ltd, Becton, Dickinson & co., Qiagen N.V, Siemens healthcare, Biomérieux SA, Roche diagnostics Ltd and Bio-Rad Laboratories Inc.