Market News Today In Vitro Diagnostics Market | Page 2

According to the National Diabetes Statistics Report 2014, approximately 9.3% of total of the U.S.
population or 29.1 million people of the total have diabetes and around 27.8% of the U.S population
or 8.1 million people are undiagnosed and are suffering from diabetes
Various organizations are working to observe the industry. For example, BIVDA, an union of
companies with high involvement and interest which represents manufacturers and distributors
implementing in the UK is actively involved in commercialization of novel diagnostics.
Rising importance of the diagnosis in patient care and swiftly altering healthcare environment, along
with the increase in awareness about the diseases, will help to promote the IVD market in the coming
years.
Increasing demand for the detection of different diseases which includes upper and lower respiratory
tract infections such as RSV, influenza, Legionaries disease, pneumonia and malaria will help to drive
the growth.
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Product Insights
Professional diagnostic were found to be the largest segment with revenues of USD 41.34 billion in
2016. The increasing base of target population with unmet medical needs which includes infectious
diseases and the potential of this segment to offer reliable and rapid diagnostics will lead segment
growth.
Tissue diagnostics is expected to grow at a CAGR of 10.2% from 2014 to 2020 due to increasing
prevalence rates of cancer thus raising the demand for lab automation. In accordance to the National
Cancer Institute, in 2015, the most common cancers are likely to be of bronchus and lung, rectum and
colon, breast, melanoma of the skin, and prostate. Furthermore, approximately 1,658,370 new cancer
cases are probable to be diagnosed in the U.S. in coming year, which is anticipated to help increase
the requirement for tissue diagnostics segment.