In Vitro Diagnostic eCommerce Business Models Growth Opportunities

Description

Disruptive Differentiation in Supply Chain Management Drives New Growth Potential

Diagnostics are central to healthcare, but not accessible to all. A 2020 Lancet study states that 47% of the global population has little to no access to accurate diagnostics, emphasizing the need for equitable distribution across geographies and containing procurement costs. The COVID-19 pandemic increased demand for personal protective equipment, consumables for molecular diagnostics, vaccines, and POCT testing for SARS-Cov2. However, serious glitches in supply and logistics due to poor procurement strategies led to manufacturing delays and a surge in diagnostics and healthcare costs. Vendors of R&D prototyping, small-batch manufacturing services, and niche testing labs recorded the largest revenue drop across the value chain. The coronavirus also accelerated healthcare digitalization, including in vitro diagnostics (IVD).

Engineering and technological innovations present opportunities to create new eCommerce platform solutions in the diagnostics segment, emphasizing global connectivity, transparency, access, scalability, and cost efficiencies. These features reduce the gaps in the IVD industry, improve access, and democratize diagnostics to empower providers, payers, and patients. Lessons learned from the pandemic in 2020 and 2021 serve as the building blocks to strengthen healthcare systems, primarily timely health service delivery, attention to the healthcare workforce, need for robust health information systems, access to diagnostics (analogous to essential medicines), efficient supply chain for procurement and supplies, and seamless communication and interconnectedness, financing, leadership, and governance. eCommerce marketplaces for healthcare and IVD provide an opportunity to buy, sell, lease, market, and procure diagnostic products and service information on any internet device, such as the computer (web-based) or mobile (mCommerce). Pharmaceuticals, biotech companies, contract research organizations, hospitals, clinics, universities, laboratories, government, and customers can use these technology platforms to access the global ecosystem. While technology infrastructure within eCommerce is evolving, essential technologies enabling healthcare transactions include EDI, bar codes, cloud, product data exchange, and electronic forms. This study assesses the eCommerce business potential across sectors, creating resilient healthcare and diagnostic market opportunities for R&D, manufacturing, and supply chain functions. It explores other scalable, cost-efficient business opportunities with new B2B products, customized outsourcing services, and technology-enabled tools for efficiency and ease of operations. The IVD market is buoyant due to the soaring demand for products, molecular diagnostics, immunoassays, and POCT in chronic diseases. The rise in consumerization, telehealth, and ePharmacy also push it toward further digitalization with advanced artificial intelligence, machine learning, and the internet of things technologies. The study also examines the competitive environment, strategies, market models, and use cases for success in the IVD eCommerce platform industry.

Product Code: K789-55

Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the In Vitro Diagnostic eCommerce Platform Industry
Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Opportunity Analysis

Research Objective and Methodology
In Vitro Diagnostic Ecommerce Industry Landscape
Market Segmentation
Growth Drivers
Growth Drivers (continued)
Growth Restraints
Growth Restraints (continued)

Macro to Micro In Vitro Diagnostic eCommerce Business Model

Macro to Micro Visioning
Technology Adoption Among Patients, Providers, and Physicians
Cross-sector Collaborations Encourage Industry Players to Explore Potential Partnership Opportunities
Cross-sectoral Interconnectedness Acts as a Force Multiplier for B2B and B2C Markets

Supply Chain Participants and Use

Preferred Channels and Strategic Priorities
Preferred Channels and Strategic Priorities (continued)
Preferred Channels and Strategic Priorities (continued)
Preferred Channel by Diagnostic Device Type
Preferred Channel by Solutions and Service Types
Market Attractiveness and Partnership Opportunity

IVD B2B, B2B2C eCommerce-Competitive Environment, Supply-Demand Pain Points, Strategies, and Use Cases

Competitive Environment-IVD and eCommerce Marketplace
Competitive Environment-IVD and eCommerce Marketplace (continued)
B2B eCommerce Supply and Demand Channel Pain Points
Strategies of IVD eCommerce Industry Participants
Strategies of IVD eCommerce Industry Participants (continued)
Strategies of IVD eCommerce Industry Participants (continued)
Strategies of IVD eCommerce Industry Participants (continued)
Strategies of IVD eCommerce Industry Participants (continued)
B2B Supply Chain Marketplace Benefits for Distribution Value Chain Stakeholders
Use Case-Abbott Diagnostics
Use Case-Siemens Healthineers
Use Case-Thermo Fisher Scientific Corporation
Use Case-LabX
Use Case-KWIPPED

R&D Supply and Use Cases

R&D Supply Chain-Online Platform Promises Market Opportunities
Use Case-ZAGENO, Inc.
Use Case-Science.com
Use Case-Wazoku

B2C Digital/ePharmacyUse Case-WazokuCompetitive Environment, Pain Points, Strategies, and Use Cases

Competitive Environment-B2C Digital/ePharmacy
Pain Points of B2C Digital/ePharmacy Providers and Suppliers
Strategies of B2C Digital/ePharmacy Industry Participants
Strategies of IVD B2C Digital/ePharmacy Industry Participants (continued)
B2C Digital/ePharmacy Offers Customer-centric Value-added Services and Products
Use Case-Amazon Pharmacy
Use Case-CVS Pharmacy
Case Study-Walgreens Boots Alliance
Conclusion

Growth Opportunity Universe

Growth Opportunity 1-Technology-enabled eCommerce Supply Chain for Scalability Enhanced Customer Experience
Growth Opportunity 1-Technology-enabled eCommerce Supply Chain for Scalability and Enhanced Customer Experience (continued)
Growth Opportunity 2-R&D eCommerce Marketplace Opens Opportunities and Optimizes Cost and Time for Researchers and Scientists
Growth Opportunity 2-R&D eCommerce Marketplace Opens Opportunities and Optimizes Cost and Time for Researchers and Scientists (continued)
Growth Opportunity 3-Telepharmacy Services for Comprehensive Disease Management
Growth Opportunity 3-Telepharmacy Services for Comprehensive Disease Management (continued)

Appendix

The Difference Between eCommerce and eBusiness
Business Model Shift
Business Model Shift (continued)
List of Exhibits
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