Here is some additional info. that I thought is interesting and yes, I am accumulating as much as I can while it is so cheap.
regards,
Ted
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Nov. 19, 1996--The home
diagnostics products and monitoring devices market continues to show
significant growth, having achieved $1.07 billion in manufacturer
revenues in 1995 -- a growth rate of 13.1 percent for the year,
according to research conducted by Frost & Sullivan, U.S. HOME
DIAGNOSTICS & MONITORING.
Market expansion is due to these factors: an increase in services
as part of product offering; growing emphasis on preventative care; a
greater public involvement in health maintenance; and ease of product
use and improved accuracy in reading.
Manufacturers are beginning to provide more services to
individuals using only five home self-tests. Major firms in the
blood glucose monitoring field have added 24-hour, 7-day-a-week
toll-free numbers, for customers to call if they have a questions or
problems.
Companies such as LifeScan go beyond just assisting their own
customers with concerns about meter or strip use.
"Customer service will be crucial when the new HIV-test kits are
introduced," says medical analyst Reenita Das, "although the user's
confidentiality will be protected, if a user is told he has tested
positive, an experienced counselor will remain on the phone to help."
There are more than an estimated 500 million blood tests done each
year. This represents approximately $25 billion in clinical testing
costs. While self-testing will not replace clinical testing, it
should help cut down on overall costs, since self-testers will only
need to go to the clinic to verify possible problems noted from the
results of the test.
A number of technological advances for home diagnostic test kits
have resulted in greater ease-of-use for the consumer. Improvements
in the accuracy of reading home test devices and products have
resulted in stronger support from medical practitioners and have
given users a greater feeling of confidence in these devices and
products.
For the home diagnostics and monitoring market to succeed against
clinical testing, five factors are critical: distribution and
merchandising support in mass market retail outlets; a competitive
price in a heavy market or justification of a higher price because of
unique product features; providing exceptional customer service;
developing repeat business to secure long-term consumer loyalty and
establishing credibility and endorsements from the medical
professional community.
There are strong indications that the market for home diagnostic
products and monitoring devices will continue to grow well into the
new century. There is much room for growth in the home diagnostics
market, because a number of HMOs and PPOs favor self-testing of
individuals at home, and new products for home diagnostic products
and monitoring devices are anticipated.
For those already entrenched in the marketplace, there will be
many lucrative opportunities for the creation of new profitable
markets, the Frost & Sullivan study concludes.
Companies participating in this market include: A&D Medical,
Actimed Laboratories, Inc., Advanced Care Products, American
Thermometer Company, Bayer Corporation, Becton Dickinson, Biomerica,
Inc., Boehringer Mannheim Corporation, Can-Am Care Corporation,
Carter-Wallace, Inc., Cascade Medical, Inc., Chematics, Inc.,
ChemTrak, Inc., Chronimed, Inc., Faichney Medical Products, The First
Years, Inc., Florida Medical Industries, Inc., Graham-Field Health
Products, Inc., Hallcrest Products, Helena Laboratories, Inc., Home
Diagnostics, Inc., LifeScan, Inc., LMI Medical, London International
US Holdings, Inc., The Lumiscope Company, MediSense, Inc., Omron
Healthcare, Inc., Parke-Davis Group, Polymedica Healthcare, Inc.,
Polymer Technology International, Popper & Sons, Inc., Propper
Manufacturing Company, Inc., Quidel Corporation, SmithKline
Diagnostics, Inc., Steridyne Corporation, Sunbeam-Oster, Syntron
Bioresearch, Inc., Thermoscan, Inc., and Whitehall Robins.
Frost & Sullivan is an international marketing consulting company
that monitors the medical devices industry for market trends, market
measurements, and strategies. This ongoing research is utilized to
update a series of research publications and to support industry
participants with customized consulting needs. Free executive
summaries of all Frost & Sullivan reports are available to the press.
-0-
Report: 5315-54 Publication Date: 5315-54 Price: $2295
CONTACT:
Frost & Sullivan
Russ Pecoraro, 415/961-9000 ext. 488 (California)
rpecoraro@frost.com
frost.com
or
Kristina Menzefricke, 44/171-730-3438 (London)
Stefan Gerhardt, 49/69-235057 (Frankfurt)
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICINE
BW0348 NOV 21,1996 |
