In 2012, the global IVD market was valued at US$49.2 billion. Primarily driven by the rise of chronic and infectious diseases, a rapidly ageing population, an increase in Point Of Care Testing and personalised medicine, developments in analytical laboratory automation and the geographical market expansion within emerging countries; the restraining factors of market growth are stringent regulatory frameworks and a shortage of investment and personnel.
Last year, the Americas accounted for more than 41% of the global IVD market. Europe was the second largest market with a share of 31%. Currently, the BRIC (Brazil, Russia, India and China) countries represent the fastest-growing markets due to their economic growth, a rising number of chronic diseases and an increased awareness regarding the use of IVD tests to control the spread of diseases. Due to economic slowdown, pricing pressures and high competition in mature countries will compel companies to focus on emerging markets.
The flagship MEDLAB event was first launched in 2002 in Dubai, UAE. Over the years attendance has increased by 256% attracting more than 20,000 unique visitors and welcoming more than 4,500 delegates to its multi-track conference programme.
(Brought up) With the huge success of the flagship MEDLAB Exhibition & Congress at Arab Health in recent years, the MEDLAB series is expanding to other markets across the world.
For more information on the MEDLAB series, click here