Looking for more than modest growth for your IVD product portfolio? Focus on the BRICs, says a new report from GlobalData. Brazil, Russia, India and China (BRIC) represent growth opportunities for the diagnostic testing industry, as population growth and unhealthy lifestyles in these emerging economies expand the patient population.

The report, titled In Vitro Diagnostics (IVD) - Emerging Countries (Brazil, Russia, India, China) Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018, predicts that new technologies, a shift towards point of care (POC) testing and cost containment will drive growth over the coming years. "The ever increasing patient pool, improving healthcare infrastructure, and enhanced health awareness and affordability will also keep the IVD market buoyant in BRIC countries," notes the report.

Per GlobalData: the IVD market in the BRIC countries is expected to grow at a compound annual growth rate of 16% to reach a revenue of $11.7 billion in 2018. China is the largest market among emerging countries, with a 56% contribution valuing $2.2 billion in 2011. That is expected to reach $7.1 billion by 2018. The second largest, Brazil's IVD market is valued at $946.1 million. It is followed by India ($581.4 million) and  Russia ($267.4 million).

For a more in-depth look at the present and future of the IVD markets in China and India, be sure to read Carl McEvoy's article, "China and India: Comparing Two Fast Growing IVD Markets," on ivdtechnology.com.

— Norbert Sparrow