Clinical Chemistry Global Market Briefing to 2016

Jan. 3, 2011 - PRLog -- The global clinical chemistry market is expected to grow at 5.1% during 2009–2016 to reach $14,260m by 2016. Clinical chemistry rapid tests & POC is expected to be the fastest growing segment at 6% during the same period and is forecast to reach $4,483m in 2016. Clinical chemistry analyzers, the second largest segment, is forecast to grow at 4.4% CAGR during 2009–2016, to reach $3,388m in 2016. The urine analysis market is expected to reach $3,382m in 2016, growing at 5.5% during 2009–2016.Metabolite, enzyme and electrolyte chemistry reagents markets are expected to grow at 4.1%, 4.1% and 4.5% respectively during 2009–2016, reaching $1,331m, $1,091m and $585m in 2016. The global clinical chemistry market is expected to be driven by the increasing availability of tests covering a wide range of disease areas expanding the pool of potential consumers.

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Emerging countries such India, China and Brazil are expected to continue to grow at an above average CAGR of 15%, 15% and 10% respectively in 2009–2016. The growth is expected to be driven by huge population base which continues to grow as well as the growing affordability for obtaining better medical care. All three countries currently have stable economic indicators in contrast to developed economies which are still trying to recover from the recession. This indicates growing affordability of the masses and
thus will drive demand for superior quality of care in these countries.

Clinical chemistry is a mature and stable market in developed economies due to high levels of automation in laboratories. However, it still has scope for growth in the developing economies, due to low penetration of automation. In spite of no apparent lack of skilled labor in these countries, laboratories continue to implement automated laboratory solutions to achieve high accuracy, reproducibility and efficiency. One
reason for this is the demand for high quality of care which necessitates superior QC. This can be achieved easily through automation. The growth in diagnostic laboratories opting for ISO certification in developing countries such as India also demonstrates their growing emphasis on delivering superior quality and reproducible results. Thus, automation indirectly aids laboratories in growing their domestic customer base in an increasingly competitive and crowded market, but also helps them garner medical
tourism.

GlobalData’s new report, “Clinical Chemistry Global Market Briefing to 2016” provides key data,information and analysis on the global clinical chemistry market. The report provides market landscape,competitive landscape and market trends information on the clinical chemistry market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts

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