Increasing prevalence of fatal diseases such as HIV, cancer and cost effectiveness of genomics are the vital drivers for bioinformatics in IVD testing market. Collaboration of IT companies with bioinformatics companies is another growth propeller for this market. IT companies along with bioinformatics companies design specific software for different disease condition which is expected to overcome human based diagnosis during the forecast period. However, insufficient awareness about the bio banks and similar patient history records are the key restarting factors for this market.
Cancer diagnostics is the one of the fastest growing segment owing to the increasing prevalence of target diseases and increasing usage of bioinformatics based tests in therapeutic management. Bioinformatics in IVD testing is also used for diagnosis of gastrointestinal diseases, Alzheimer’s disease, Parkinson’s disease and other psychiatric disorders. Various IT organizations enter into partnership with research organizations that provides platform for biomedicines for novel and cost effective drugs for incurable diseases. IBM initiated one such program that uses database and advises treatment on a case to case basis.
Regionally, North America dominates this market due to the advanced healthcare infrastructure coupled with better purchasing power and availability of the latest technologies. Europe follows North American market owing to larger consumer base for this market. Asia pacific is expected to register lucrative growth due to rapid urbanization and rising prevalence of cancer and diabetes in coming six years.
The major players in this market are, AssureRx Health Inc, Aperico Technologies Inc, Biodesix Inc, Bioreference Laboratories Inc, Affymetrix CardioDx Inc, Datech Oncology, Life Technologies, Pathogenica, Medtronic Inc, Datech Oncology Signal genetics and One Lambda Inc.
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