Frost & Sullivan Honors L.O.M. for Industry Innovation & Advancement
Date Published: 6 Nov 2003
San Diego, Calif. – November 6, 2003 – At last night’s Global Excellence in Healthcare & Life Sciences Awards Banquet, Frost & Sullivan presented its 2003 Medical Devices Industry Innovation & Advancement of the Year Award to L.O.M. Medical International Inc.
Frost & Sullivan presents this award to L.O.M. for its pioneering Gas Cell technology for retractable syringes.
The primary purpose of the retractable syringe is to reduce or eliminate workplace and general use needlestick injuries, which can expose the population to a number of blood-borne pathogens that can cause serious or fatal infections. Of the approximately 5.6 million healthcare workers in the U.S., as many as 800,000 suffer sharps injuries - mostly needlesticks - each year, equating to one out of every seven workers accidentally stuck by a contaminated sharp per year.
Retractable syringes technology would result in long-term market growth for the safety syringe market. A number of companies are developing innovative ways to make the syringes safer for the users. The new legislative guidelines will help increase the awareness and acceptance of retractable syringes.
L.O.M. stands out as one of the emerging companies trying to gain the foothold in this quickly developing market. With the strength of its patented Gas Cell technology, L.O.M.’s highly distinguished design team has furthered the company in the race to reduce the cost of a retractable syringe product.
"Technology advancement coupled with demographics are the key drivers for the Retractable Syringes Markets, we expect that L.O.M.’s investment in retracting technology will make the company a formidable player in the retractable syringe market over the coming years," states Amit Bohora, Frost & Sullivan Practice Leader for Medical Devices.
The Medical Devices Industry Innovation & Advancement of the Year Award is presented to the company that has best demonstrated superior planning and execution of product launches, distribution strategies, technological innovations, and customer service. Frost & Sullivan analysts honor the top ranking company based upon market participant interviews, extensive secondary research, and market share and revenues.
Held in San Diego, California, the Frost & Sullivan banquet honored world-class companies for outstanding performance and achievements in the healthcare industry. An annual event, the banquet recognizes the quality and merit of these distinguished companies.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan Awards are presented to companies that demonstrate excellence in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com. |
