Frost and Sullivan: $1.6 Billion Point-Of-Care Testing Market
Must Prove Convenient and Offer Substantial Savings to Surpass
Current Barriers
MOUNTAIN VIEW, Calif., Feb. 10 /PRNewswire/ -- Point-of-care testing (POCT) performs testing
close to the patient and away from the clinical laboratory. In the best scenarios, these technologies
speed patient diagnosis, reduce or eliminate hospital stays, and save the healthcare system valuable
money. While opponents remain skeptical, the potential benefits of POCT are undeniable and could one
day all but eliminate the current clinical laboratory system.
A Strategic Assessment of the U.S. Point-of-Care Testing Markets, strategic research by Frost &
Sullivan (www.frost.com), assesses the current condition of POCT including discussions of the
technologies employed, trends driving and restraining market growth, expert opinions, and successful
strategies for implementing POCT.
''POCT currently covers about 25 percent of the diagnosis market, but proponents believe it will
expand significantly in the near future,'' said Tom Ryugo, medical analyst at Frost & Sullivan. ''A
Strategic Assessment of the U.S. Point of Care Markets not only provides estimates of the most
lucrative markets, but how competitors are most likely to transform niche markets into more profitable
opportunities.''
The most lucrative markets are those that currently or will someday provide over the counter
availability. The most successful POCT markets, pregnancy and glucose monitors, are available over
the counter and driven by the need for frequent monitoring and private screening. Although they
require regulatory changes, two markets with similar patient needs and therefore significant promise
are infectious disease and coagulation monitors.
''The development of an accurate hand-held coagulation monitor would greatly benefit the 2-3 million
Coumadin patients who are advised to go to the clinical laboratory up to once a week to monitor their
blood,'' said Ryugo. ''Personal infectious disease monitors, especially those that test for HIV, are a
potentially lucrative yet controversial market due the privacy, counseling, and political issues
involved.''
In the clinical environment, competitors must emphasize the cost-savings and convenience of their
products to customers. While some POCT markets tailor themselves to the patients' convenience, many
medical personnel remain weary of assuming the extra responsibility inherent of POCT in medical
facilities. Overburdened schedules and a hectic work environment heighten fears of operator error and
necessitate that POCT be extremely user-friendly.
Cost-sensitive managed care has caused physicians to reevaluate which tests are truly necessary, making
effective POCT more attractive. Since skeptics still exhibit doubt over POCT's merits, successful
companies will repeatedly prove how much time and money POCT saves over the conventional
laboratory system.
''The cost savings of point-of-care can be difficult to justify on a balance sheet, which is where
financial personnel prefer to see them,'' explained Ryugo. ''Competitors must explain how medical
facilities can take advantage of POCT's faster diagnosis, which ultimately saves time, money, and
lives.''
Markets covered in this study include laboratory diagnostic testing, glucose monitors, pregnancy and
ovulation, infectious disease, blood gas analysis, cardiac biomarker, coagulation, clinical chemistry, and
drugs of abuse.
Selected market participants include Abaxis, Abbott Laboratories [NYSE:ABT - news], Acon
Laboratories, Advanced Instruments, Alexon-Trend, American Bio Medica, Array Medical, AVL
Scientific Corporation, Bayer Corporation, Beacon Diagnostics, Becton Dickinson, Binax, Biomerica,
BioScan Screening Systems, BioSite Diagnostics, Boehringer Mannheim Corporation, Calypte
Biomedical Corporation [Nasdaq:CALY - news], Cardiovascular Diagnostics, Carolina Drug Testing
Corporation, Carter-Wallace, Cascade Medical, ChemTrak, Cholestech, Cortecs Diagnostics,
Dade-Behring Diagnostics, Diametrics Medical, Empyrean Diagnostics, Epitope, Expomed, HemoCue,
Inflazyme Pharmaceuticals, Instrumentation Laboratory Sensor Systems, International Technidyne
Corporation, Intracel Corporation, i-STAT Corporation, Johnson & Johnson, LifeScan, Marquette
Medical Systems, Medical Automation Systems, MedTox Laboratories, Meridian Diagnostics, Murex,
Organon Teknika Corporation, Orion Diagnostica, Parke-Davis, Peninsula Drug Analysis Co.,
PharmChem, Pointe Scientific, Quidel Corporation [Nasdaq:QDEL - news], Rapid Drug Testing
Services, Roche Diagnostics, SmithKline Diagnostics, Technical Chemicals & Products, Trinity Biotech
plc, and Wampole Laboratories. Related companies to this market include AGEN Biomedical,
American Bioproducts Co., Astra-Merck, Beckman Instruments, Biosite Diagnostics, Chiron
Diagnostics Corporation, Enteric Products, Geodesic Meditech, KMI Diagnostics, Marylebone Group
LLC, Nova Biomedical, Physician Sales & Services, Radiometer America, and Wescor.
This medical industry research has integrated the proven Frost & Sullivan Market Engineering
consulting philosophy into the entire research process. Critical phases of this research included:
identification of industry challenges, market engineering measurements, strategic recommendations,
planning and market monitoring. All of the vital elements of this system help the market participants
navigate successfully through the point-of-care testing markets.
Frost & Sullivan is an international marketing consulting company that monitors the medical industry
for market trends, market measurements, and strategies. The ongoing research is utilized to update a
series of research publications such as #5601-55, U.S. Rapid Microbiology Test Markets, and to
support industry participants with customized consulting needs. Free executive summaries of all Frost
& Sullivan reports are available to the press.
Visit Frost & Sullivan's web site at: frost.com |
