The IVD markets of BRIC economies offer immense growth opportunities due to the increasing healthcare budgets of these nations, along with the increasing number of private corporate hospitals, and the rising income levels backed by a huge, untapped population bases. Despite regulatory hurdles and other restraints such as low consumer awareness and the absence of regulations concerning patient safety, the BRIC IVD market is expected to grow from $2.9 billion in 2009 to $7.2 billion-$7.5 billion in 2014 at a CAGR of ~19%-20% from 2009 to 2014. In comparison, the growth rate of the global IVD market is pegged at only ~5%-6% in the next five years.

Currently, the BRIC IVD market is dominated by established players such as Roche, Abbott, Siemens, Beckman Coulter, and Becton Dickinson. However, domestic players such as Transasia, JMitra, Horiba, Kehua, Mindray have taken the distribution of IVD services from urban areas to the rural areas.

The briefing on the IVD Market in BRIC (2010-2014) will benefit the IVD equipment manufacturers, reagent manufacturers, 3rd party distributors of IVD equipment, public and private IVD associations for manufacturers, IVD associations for pathologists, laboratory associations and technology providers.

“If the BRIC nations can overcome regulatory hurdles, we can expect to see an even better growth rate in these IVD markets, following the rising income levels and the increasing reach of healthcare services coupled with an already high population base. The diagnostics market is expected to dominate the healthcare industry within the emerging economies.” notes MarketsandMarkets.

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