The global market for rapid medical diagnostic kits (MDK) was $16.5 billion in 2011 and nearly $18.4 billion in 2012. This market is expected to reach $24.2 billion by the end of 2017, at an estimated CAGR of 5.7% from 2012 to 2017. The overall, the forecast for Alzheimer's disease, including disease-modifying therapeutics, therapeutics that treat related symptoms, diagnostics and imaging, is set to increase exponentially. This market was worth $8 billion in 2009 and is expected to reach $9.6 billion by the end of 2014, a CAGR of 3.7%. Diagnostics and biomarkers are expected to increase at a 5 year CAGR of nearly 20%. This segment was worth $1.2 billion in 2009 and is expected to reach $2.9 billion by the end of 2014. The imaging sector was worth $361 million in 2009 and is expected to increase at a nearly 19% CAGR to reach $852 million by the end of 2014. These systems include automated and high-throughput analyzers and readers to assist in handling the large volume of tests that typical hospitals and reference labs.

 

The medical imaging sector is a technology-intensive area of diagnostics that has traditionally been consolidated in the hands of a few large corporations. The sector is driven by innovation in both equipment, that is the miniaturization, portability, integration with IT infrastructures, and in clinical and research application. Improvements in computer enhancement and in new contrast media as well as the advent of high-tech molecular imaging techniques has broadened the range of conditions that in vivo imaging can address. The medical and diagnostic laboratories industry has a low level of concentration, with the top four players accounting for about 29.7% of industry revenue in 2013. However, the top two players control many of the markets in which they operate. Over the past five years, consolidation has increased, particularly in the laboratory segment, but the industry remains highly fragmented. The market for analytic and diagnostic services will continue to grow at a rapid pace in the five years to 2018. Scientific advances will continue to yield new and improved service capabilities, and the aging US population will require more and better laboratory testing and diagnostic imaging services. Additionally, the healthcare reform legislation of 2010 will continue taking effect during the next five years, which will be a net benefit to the industry; greater access to insurance is expected to boost demand, shrinking out-of-pocket costs for laboratory services.