Albany, NY -- (ReleaseWire) -- 07/14/2014 -- In vitro diagnostics are the vital tools in health care systems as they provide crucial information for making right medical decisions. The information revealed through these technologies helps physicians in successful management of medical conditions in every stage. Prevalence of infectious diseases such as hepatitis B virus (HBV), hepatitis C virus (HCV), human immunodeficiency virus (HIV), Herpes Simplex Virus (HSV), tuberculosis, measles, dengue, Chagas, cholera, and malaria is increasing across the globe with high prevalence in developing countries. There have been advances in the in vitro diagnostics which have enabled paradigm shift from laboratory testing to point of care testing which is helping in expansion of infectious diseases IVD market.
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Some of the major segments in this market include immunochemistry testing, microbiology testing and molecular diagnostics testing. Historically, immunoassays constituted the largest segment in the IVD market which are conducted for determining presence of infectious disease in a patient. Present day technology for testing infection disease include enzyme-linked immunosorbent assay (ELISA) and chemiluminescence immunoassays which require more amount of protein biomarker than molecular diagnostics. However, the market for molecular diagnostics is rapidly growing with the increasing adoption of this technology in place of antigen testing by immunoassays. Molecular diagnostics possess advantages such as high specificity which help detect even minute amount of protein biomarkers. This helps in early detection of infectious diseases and becomes easier to mitigate the result. The global market for infectious disease IVD market is expected to driven by development of newer assays for diagnosis and treatment of infectious diseases. The changing demographics in the world which majorly include aging population and rising incidences of diseases of affluence are propelling the growth of infectious disease IVD market.
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On the basis of geography, the global market for infectious disease is segmented into four major regions, namely, North America, Europe, Asia Pacific and Rest of the World. Although industrially developed nations in Europe and North America account for largest share in the global market, high growth is witnessed in the emerging markets of Asia-Pacific regions. The demand for infectious diseases in vitro diagnostics in Asia-Pacific is attributable to high population growth, increasing awareness and investments in healthcare infrastructure. The big players in the market are focusing in this geography to compensate their slowing business in highly competitive western markets. The competitiveness in the industry augmenting each day with more number of players seeking to leverage benefits of this growing market. The leading players in the diagnostic market are acquiring smaller technology companies to produce companion diagnostic tests; while the pharmaceutical companies enticed by the opportunities in the IVD market are either investing or collaborating with diagnostic devices companies to extend their drugs market post patent expiry. Roche Diagnostics and Abbott Laboratories are couple of major companies in the market which have added advantage of synergy between their diagnostic solutions and pharmaceutical solutions.
Some of the major companies in the global infectious disease IVD market include Roche Diagnostics, Abbott Laboratories, Becton Dickinson (BD) Company, Gen-Probe, Inc. (a part of Hologic, Inc.), Alere, Inc. (formerly Inverness Medical Innovations, Inc.), Luminex Corporation, Orhto-Clinical Diagnostics (Carlyle Group) LifeScan, Inc. (a Johnson & Johnson company), Siemens Healthcare, bioMeriux SA, and Bio-Rad Laboratories, Inc.
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