In Vitro Diagnostic Ivd Market In America Report
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The report provides a comprehensive view of North, Central and South American IVD market in 2018 and gives insights till 2025, considering the growth trends, domestic and global competition, import/export trends, disease epidemiology, products and services, technologies and the end user pattern. The report gives a 360 overview of the market and a comparative scenario between north, central and southern American IVD market in 2018.
North America is the biggest IVD market globally, and is also the biggest consumption market. The San Francisco Bay Area may be often considered as a natural home to well established IVD device leaders responsible for spearheading industry advancements including Bio-Rad, Roche and Thermo Fisher and many other promising startups breaking into the market. Currently it has approximately 30% share of the global market and would exceed the share by 2020, growing at a CAGR of 3.57% from 2019 till 2025.
In North America, some of the most common routine tests that are conducted in laboratories include cholesterol level tests, HIV tests, pap tests, pregnancy tests, tests to detect infectious diseases and substance abuse tests. Clinical lab testing is also used to monitor other diseases and drug treatments. Specialty testing, which are often more expensive than routine tests, cover tests in genetics, immunology, oncology, endocrinology, and other segments. The clinical laboratory market is highly competitive with hundreds of providers. North America has a presence of some of the major global players in the world that are headquartered in USA.
Convenient Centers are the new IVD Walk-in Clinics in North America especially the United States. As per the growing trend in 2017-2018, IVD service providers, such as Quest Diagnostics (Quest) and Laboratory Corporation of America (LabCorp) and few other laboratories have been actively promoting patient service centers in grocery stores and retail pharmacies. In 2017, Quest had announced plans to open patient services centers with several retailers, particularly in the states of Texas and Florida. Similarly, LabCorp disclosed an agreement with the Walgreens Boots Alliance.
The US is one of the leaders in the market, which is moving towards value-based model, there are few clinical laboratories in the southwestern United States which are looking at how to prevent early term delivery. The San Francisco Bay Area is home to well-established IVD device leaders responsible for spearheading industry advancements including Bio-Rad, Roche and Thermo Fisher and many other promising startups breaking into the market.
Compared to North, Central and South American IVD market enjoys a little over 3% of the global IVD market share. Although the market is small, with limited resources and infrastructure, but it offers opportunities in the form of high disease presence (which requires testing), medical tourism (Peru, Brazil, Argentina get high traffic from USA every year). The report from Stratview research also looks at the smaller market in South America such as Peru while including the bigger markets such as Mexico, Argentina and Brazil.
In South America, markets vary depending on the demand from the population, for e.g. In the Brazilian IVD market, 77% of the population rely on the public healthcare system, which makes it challenging for the government to expand its services and reduce the exam time. While in Central America, if we consider markets such as Mexico, the scenario is different and we observe them as early adopters of technology. Public laboratories are subsidized by the government and usually acquire molecular diagnostics (MolDx) equipment through reagent rentals rather than outright purchases. This is variable in the private laboratories, but purchasing methods are more dependent on the workload, the type of instrument and the decision makers (typically including the laboratory director and governing board in private laboratories and purchasing departments in public laboratories).
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both the qualitative and quantitative insights.
Central and South America
Mexican IVD Market – Long Term Growth Forecast (2018e-2025f)
Argentina's IVD Market – Long Term Growth Forecast (2018e-2025f)
Brazil's IVD Market – Long Term Growth Forecast (2018e-2025f)
Peru's IVD Market – Long Term Growth Forecast (2018e-2025f)
The USA's IVD Market – Long Term Growth Forecast (2018e-2025f)
Canada's IVD Market – Long Term Growth Forecast (2018e-2025f)