Lifestyle and Disease Encourage IVD markets in Emerging Countries

The emerging countries of Brazil, Russia, India and China (BRIC) represent a promising region for the diagnostic testing industry, as population growth and unhealthy lifestyles fuel patient population growths, according to healthcare experts GlobalData. A new report* predicts that the in vitro diagnostics (IVD) market will be driven by new technological advancements, a shift towards Point of Care (POC) testing and the adoption of cost cutting measures over the coming years. Furthermore, the ever increasing patient pool, improving healthcare infrastructure, coupled with enhanced health awareness and affordability will also keep the IVD market buoyant in BRIC countries.

The increasing prevalence of lifestyle disorders and emergence of infectious diseases are expected to fuel future growth, opening new markets for medical device manufacturers. In addition, with the population of India estimated to exceed 1.7 billion by 2050, surpassing China, the underlying demand for healthcare is anticipated to display a strong boom.

The market for In Vitro Diagnostics (IVD) in the BRIC countries is expected to grow at a compound annual growth rate (CAGR) of 16% to reach a revenue of $11.7 billion in 2018. China is the largest in vitro diagnostics market among emerging countries, with a 56% contribution valuing $2.2 billion in 2011; this is expected to reach $7.1 billion by 2018. Brazil was the second largest in vitro diagnostics market among the emerging countries in 2011, valued at $946.1m. During the same year, the Indian in vitro diagnostics market was worth $581.4m, and the Russian in vitro diagnostics market was valued at $267.4m.

*In Vitro Diagnostics (IVD) - Emerging Countries (Brazil, Russia, India, China) Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018.