The challenges in-vitro diagnostics (IVD) companies face in emerging markets are different and complex. EIU Healthcare has identified five key challenges in emerging IVD markets.
Certain challenges will be a bigger barrier to market penetration in some countries, than in others. In China, one of the central challenges for MNCs is the threat of domestic IVD companies offering products of increasingly better quality, at a lower-cost. In China, the fastest-growing companies in all four major IVD market segments – centralised diagnostics (CDx), point-of-care (POC) diagnostics, molecular diagnostics (MDx) and tissue diagnostics (TDx), are local Chinese companies. In LATAM, keeping up with shifting customer demands as a result of rapidly-evolving hospital and laboratory infrastructure in the region is one of the main challenges IVD companies need to tackle.
Here are five challenges that The Economist Intelligence Unit thinks are the biggest challenges in emerging markets for IVD companies:
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