The IVD market experienced the slowest growth of the last decade in 2012. The market grew 4.8% in 2012, according to Enterprise Analysis. The anatomic pathology segment grew the fastest at 8.3%. The molecular and point of care/physician office laboratory segments grew 7.2% and 7.0%, respectively. Despite lackluster growth, the market is expected to rebound next year and grow at a compound annual growth rate of 8% to $70 billion between 2012 and 2017. Much of the growth will come from emerging markets. The US’s Affordable Care Act is also likely to increase testing volumes. However, this increase may be offset by the Act’s limits on excessive testing, as well as other factors. Also, reimbursement codes for the Centers for Medicare and Medicaid (CMS) for molecular testing are currently making reimbursement rates unclear. CMS will set the maximum reimbursement for Medicare in 2014 based on contractors’ average prices. The proposed reimbursement rates for molecular tests in 2014 will decline about 16% based on data released in May, compared with an estimated 20%–25% average reduction this year.

Source: Clinical Laboratory News