The rising demand for technologically advanced diagnosis instruments and increased spending capabilities of consumers on healthcare provides huge potential for IVD market, says Dr Deepak Sanghavi, Deputy Chief of Lab, Metropolis Healthcare Ltd, in conversation with Anshuman Ojha of Elets News Network (ENN).
On recent developments and trends in vitro diagnostics market
The IVD market is segmented as follows: biochemistry, immunology, haematology, urine analysis, molecular diagnostics, and microbiology. Manufacturers are launching newer products with better technologies, such as multitasking reagents and wider range application equipment. For example, many labs are now buying a combined biochemistry/immunology analyser, which allows both types of tests to be performed using a single instrument; this reduces cost and labour requirement. This trend is similar in all the IVD market segments.
There is huge demand for more sensitive reagents, such as chemiluminescence, is increasing in metros, tier I cities, and even beyond these tiers. These reagents give more accurate results. The demand for reagents also has been influenced by epidemics in the country. Like in 2007, the demand for reagents that test chikungunya or in 2009 the reagent for swine flu was at peak. The latest trends include automation, remote data acquisition, enzyme linked fluroscence assay, direct access testing, rapid accurate quantification at point-of-care.
On Indian in vitro diagnostics market
According to study conducted by F&S, the Indian IVD market contributed around one per cent to the global IVD market in terms of revenue in 2005; and is likely to reach three per cent of the global IVD market by 2010. The Indian IVD market is expected to witness growth in revenues from US$ 281.5 million in 2009 to US$ 900.2 million in 2016.
On types of technologies and products being the most successful
In vitro diagnostic industry shows promising signs and especially in cancer, genetic, molecular biology testing segments. An important factor in cancer is early detection, which helps to ascertain the stage, genes and protein expression have distinct link to tumour aggressiveness and therapy sensitivity. Precision medicine, quantification, multiplexing, targeted therapy; highly precise identification of markers is now the goal of cancer testing.
Microarrays, digital PCR, mass spectrometry, LCMS, tissue microarrays, next-generation sequencing, this high-end equipment are revolutionising the in vitro diagnostics industry.
On some of the market surprises encountered
Over the years the IVD industry is growing with increase in demand. Today, some multinational companies in India have started manufacturing the equipment, developing kits which will be cost effective and the benefit can be passed down to the patients. Make in India campaign a government initiative, will allow manufacturing in India. For eg LCMS, a metal detecting equipment, which helps in identifying multiple metals from a single sample, this saves lot of time and cost effective, smaller machines like plasma protein synthesiser can cater the needs of smaller lab, which in turn can switch from manual method to automation. The other factor driving the growth of the industry is the demand generated from tier III cities and towns, which increase the potential to tap these markets.