Capturing the value of traditional in vitro diagnostic tests
This article was originally published in Clinica
Given the attention currently focused on advanced diagnostics – such as genetic, gene-expression and algorithm-based testing and companion diagnostics – it is easy to forget that the vast majority of diagnostic testing still comprises more traditional clinical lab tests. These haematology, chemistry, immunochemistry, microbiology and other "simple" tests account for most of the spending in a global market estimated by Boston Healthcare at $25-35bn annually. Yet in an increasingly cost-pressured healthcare market, traditional in vitro diagnostic (IVD) testing is a ripe target for cost-containment measures. The aggregated global market consists of hundreds of millions of relatively low-cost tests, each of which may seem to contribute little to clinical care individually. It is therefore a challenge for IVD manufacturers to maximise the value of these tests in the face of this pressure.