Thursday, January 31, 2013

New Report Shows Rising IVD Procedures

Testing is on an upward trend, according to Kalorama Information's IVD Procedure Volume and Pricing Analysis   Clinical laboratory medicine plays an integral role in healthcare and disease management, as it estimated that approximately 80% of physician’s diagnoses are a result of laboratory tests.

Lab procedures will go from 19 billion in 2012 to 23.5 billion in 2017, according to our procedure volume analysis, as testing proves its importance in diagnostics and treatment regimen decisions to providers, payors and patients.

 In addition to disease diagnosis, clinical lab testing is also performed to evaluate disease progression, monitor drug treatment and conditions, determine individual therapy, and several other reasons.

Diagnostic laboratory technology has changed dramatically in the past few years, due to the publication of the human genome project and advances in functional genomics, bioinformatics, automation, miniaturization and microelectronics as well as rapid development and proliferation of novel telecommunications technologies.  Molecular assays are among the fastest growing procedures, according to the report.