Key Players are Abbott Diagnostics, Beckman Coulter Inc, Becton, Dickinson & Co., Biomérieux SA, Bio-Rad Laboratories Inc, Diasorin Diagnostics Spa, Horiba Ltd., Mindray Ltd
(PRWEB) November 16, 2013
According to a new market research report, "In-Vitro Diagnostics (IVD) Market in BRIC (2010 - 2014)", published by MarketsandMarkets, the IVD market in BRIC is expected to be worth US$7.3 billion by 2014, growing at a CAGR of 19% from 2009 to 2014. Market growth is driven mainly by the increasing healthcare budgets of BRIC economies, along with the increasing number of private corporate hospitals, and the rising income levels backed by a huge, untapped population bases.
Browse in-depth TOC on IVD Market in BRIC (2010 - 2014) market.
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Despite 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. However, the regulations concerning medical devices in these emerging economies still have a long way to go to reach U.S. and European standards. 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.
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