meta content GCC IVD Market Research In Vitro Diagnostics POC Diagnostics name keywords p class blogtxtcomm blogpaddtop style color rgb 65 65 65 line height 18px font size 14px img alt src http www sutherlandinsights com documents 10838 3975379 IVD TOP Blog banner JPG e2c458ed 48da 4f42 803f a499f82c5414 t 1481795978176 style width 650px height 259px p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px How important it is to detect a disease early on to get it treated effectively Very And you do not need a doctor to offer this piece of wisdom As such testing techniques are becoming an important weapon for healthcare professionals worldwide in their crusade against increasing diseases In Vitro Diagnostics IVD is one such innovative weapon that is showing promise in detecting and confirming the presence of a disease ranging from acute to lethal diseases such as cancer and Human Immunodeficiency Virus HIV Today approximately 60 of all medical diagnoses are based on IVD tests p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Commonly known as laboratory tests IVD involves testing of samples e g blood urine tissue and other body fluids from the human body in order to detect a wide range of infections diseases and conditions It can be as simple as performing a glucose test at home or require a sophisticated technology to detect complex virus strains such as HIV and Middle East Respiratory Syndrome MERS at a state of the art hospital p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px nbsp p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px img alt src http www sutherlandinsights com documents 10838 3975379 In Vitro png ebcb3b08 a5d8 4b09 9066 3752dbf52359 t 1481721970635 style width 509px height 354px p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px nbsp p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px img alt src http www sutherlandinsights com documents 10838 3975379 Global IVD Markert By Applications png 6d729149 c363 4200 bfcc cb8b7405ff8f t 1481722029846 style width 628px height 262px p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px nbsp p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Given its rising importance the global market for IVD is expected to increase from US 60 3 billion in 2015 to US 81 1 billion in 2020 at a CAGR of 6 1 Developed regions like North America and Europe are expected to witness a fall in their market share to 54 in 2020 from 65 in 2014 as the LAAM Latin America Africa and Middle East and Asia regions jostle for a bigger market share p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px img alt src http www sutherlandinsights com documents 10838 3975379 Global IVD Markert By Classification png a5af3452 bd49 4473 a10b 299e2631b493 t 1481722126403 style width 446px height 262px p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Region wise the GCC is likely to become one of the fastest growing IVD markets during this period This growth in the GCC IVD market will arise from higher investments in healthcare from both the government and the private sector rising number of expatriates growing demand for health insurance and increasing incidences of lifestyle diseases as a result of high disposable income p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Boom times are ahead for the GCC IVD market thanks to intense research which would lead to a surge in the demand for IVD tests for chronic health conditions It will be further driven by a high demand for technologically advanced devices for early and precise detection of diseases owing to a rapid increase in the incidences of chronic and infectious diseases However stringent regulatory frameworks and the lack of proper reimbursement policies might put brakes on the growth p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal nbsp p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal margin top 5px img alt src http www sutherlandinsights com documents 10838 3975379 GCC Countries png aee4908d 4388 4145 9b4e 4342bfd55233 t 1481722105840 style width 600px height 164px p p class blogtxtcomm style text align center color rgb 88 89 91 font size 13px font weight normal nbsp p p class txti2 style text align justify color rgb 47 88 151 line height 20px font size 14px font weight normal strong Saudi Arabia leads the IVD market in the GCC and is expected to register 110 million IVD based tests annually by 2019 strong p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px The GCC IVD market is dominated by Saudi Arabia followed by the UAE Biochemistry hematology and hormonal tests contribute about 70 to the total diagnostics tests in Saudi Arabia whereas biochemistry hematology and bacteriology tests contribute about 50 to the total diagnostics tests in the UAE Between 2014 and 2019 the IVD market in Saudi Arabia grew by 14 and is further expected to grow at over 15 to reach 110 million tests annually by 2019 On the other hand due to its exemption of import tariffs on in vitro and diagnostic equipment the UAE has become an attractive destination for medical devices import Over 2011 2014 the medical devices market in the country increased at a CAGR of around 11 p p class txti2 style text align justify color rgb 47 88 151 line height 20px font size 14px font weight normal margin top 5px strong Lab in a backpack POC Diagnostics in nbsp GCC nbsp is a technology definitely worth investing in strong p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Along with the other sectors the global healthcare is hit by the wave of disruptive innovations Of the many innovative technologies that have come to the fore point of care testing POCT is one p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px Quick easy and accurate diagnosis is the need of the hour as doctors and other healthcare professionals strive to provide faster response to ensure effective patient care In this context POCT offers a revolutionary promise for rapid portable and easy to operate IVD testing and has the potential to expand across all care sites ranging from hospital bed to primary care polyclinics or medical centers to alternative care settings such as medical camp facilities nursing facilities and even homes It is also set to further disrupt centralized laboratory operations with its low turnaround time as compared to the conventional IVD testing p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px em Accreditation Canada defines POCT as any testing conducted outside a lab in a hospital in a clinic or by a healthcare organization providing ambulatory care It includes testing performed at sites outside the traditional lab dedicated to medical biology near where care is delivered to a patient POCT results may help modify methodology for patient care em p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px With its ability to supplement the functions of a central laboratory POCT is rapidly expanding across the GCC Over the next 5 to 10 years the POCT market in the region is expected to grow significantly riding on rising aging population growing middle class with high disposable income and higher incidences of infectious and chronic diseases p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px All in all it can be said that POCT is set to find more takers in the developing and emerging markets as compared to the developed markets because of comparatively weaker penetration and lower uptake until now Such a scenario heralds exciting times for industry players who have the opportunity to exploit newer horizons p p class blogtxtcomm style text align justify color rgb 88 89 91 font size 13px font weight normal margin top 5px The future looks bright for POCT in the GCC but it would be interesting to see how fast it can be adopted and implemented p p nbsp p