Research Overview
Emerging Asian Economies Provide Growth Opportunities to IVD Market
Participants
In vitro diagnostics (IVD) is one of the most exciting segments in global
healthcare and the Asian IVD markets have been expanding at a double-digit rate.
This growth is propelled by increased affluence, awareness, and spending on
healthcare in this region. While the swelling Asian economies continue to fuel
demand for IVD, participants in this market must overcome challenges related to
distribution channels, intellectual property protection, and a strong local
industry to achieve optimum market development.
Frost & Sullivans recent strategic analysis of the Asian IVD market
offers in-depth information about the total Asian market along with an overview
of the clinical chemistry, microbiology, hematology, point of care (POC),
coagulation, molecular biology, and immunoassay segments.
Ageing Population and Mounting Government Measures Stimulate Market Growth
Asian governments are under increased pressure to provide elderly populations
- which are expected to double in the near future - with adequate healthcare.
"The desire of the ageing population to remain healthy and active is a
leading market driver," says the analyst of this research. "For
instance, with over 20 percent of the Japanese population above the age of 65
and a decreasing productive population:elderly population ratio, the Japanese
government is under tremendous pressure to reduce costs for healthcare
facilities."
Governments are also imposing stricter disease control measures, motivating
market growth and demand, as well as creating a positive impact on the IVD
market. The move toward integrated healthcare, especially with the consistent
shift toward proactive testing rather reactive testing, is also
expected to propel IVD markets.
Rising Demand for High Quality Healthcare
As Asian economies grow, their populations with increased average life
expectancies have also been rising. This creates a requirement for access to
quality healthcare.
"As citizens capable of accessing superior healthcare facilities are
expected to double in the near future in countries such as China and India,
participants must effectively exploit the increased opportunities for revenue
increase," says the analyst. "Private insurance companies are
gradually intensifying efforts to promote healthcare coverage in the Asian IVD
market, which again drives demand since patients having less out-of-pocket
expenses."
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