omniture
from common-pcom:html:key:en_segment_includes_overall_segment_header_shtml
PR Newswire: news distribution, targeting and monitoring
Home Page > News Releases > APAC
en_US

Shifting Focus to Preventive Healthcare Unleashes New Revenue Opportunities for Infectious Disease Point-of-Care-Testing

2019-02-05 01:32

Enhanced connectivity capabilities and vendor-agnostic solutions to drive next-generation POCT, finds Frost & Sullivan

LONDON, Feb. 5, 2019 /PRNewswire/ -- The European infectious disease point-of-care-testing (POCT) market, presently worth $753.1 million, is expected to grow to $1.41 billion by 2022 as it steadily finds newer applications, including sepsis and hospital-acquired infections like methicillin-resistant staphylococcus aureus (MRSA) and antimicrobial resistance (AMR). The US market is set to witness similar rates of growth, as the re-emergence of diseases such as Hepatitis A, lyme disease, and new strains of influenza such as H1, H3 H7 drives the $0.83 billion market towards $1.54 billion during the same period.

"While the European infectious disease POCT will be bolstered by government policies aimed at lowering healthcare costs through preventive care, its US counterpart will benefit from greater market decentralisation and a surge in Clinical Laboratory Improvement Amendments (CLIA)-waived tests," remarked Saravanan Thangaraj, Research Analyst Transformational Health. "However, the lack of uniform reimbursement laws across the European Union has resulted in non-linear adoption and non-uniform pricing models. Meanwhile, the US market is being stymied by Medicare and Medicaid reimbursement cuts."

Frost & Sullivan's recent analysis, Growth Insights for US/European Infectious Disease Point-of-Care Testing (POCT) Market, Forecast to 2022, highlights evolving business opportunities, key trends, and the regulatory landscape. It presents the competitive structure of the enterprises that can shape the market through best practices implementation, visionary leadership, and product innovation. Further, it analyses market sizing by revenue and offers insights into key technological segments and disease areas. The study covers the geographic markets of the US, Western Europe (the United Kingdom, Germany, France, Spain, Italy) Scandinavia (Denmark, Norway, Sweden, and Finland), and Benelux (Belgium, the Netherlands, and Luxembourg).

For further information on this analysis, please click here.

"To stay competitive in the complex European market, POCT vendors are employing a diverse set of digital strategies and connectivity solutions instead of merely relying on a comprehensive product portfolio," noted Supratik Paul, Research Analyst Transformational Health. "The US market, on the other hand, is focusing on collaborations with retail clinics and pharmaceutical companies for commercial data marketing. There is also a greater emphasis on design simplicity, miniaturisation, and high accuracy of molecular POCT."

The main growth opportunities in the US and European markets include:

  • Multiplexed POCT (xPOCT) enables the simultaneous on-site quantification of various analytes from a single sample, such as blood, plasma, or urine. Recent xPOCTs, such as those from Alveo Technology, have been capable of multiplexing up to 100 analytes. Meanwhile, Alere's Triage and MedMira's multiplo have combined testing solutions for hepatitis B and C, HIV, and syphilis.
  • Developing smart phone-based POCT, and biochip array technology (BAT) to increase the accuracy of POCT.
  • Embedding POCTs with connectivity solutions that will allow them to send the results to a central database. Communicability can be enhanced through multivendor wireless connectivity using a single dealer management system (DMS) with bidirectional communication to wireless-enabled POCT devices.
  • Penetrating the middleware market through a vendor-agnostic solution.
  • Leveraging advances in remote monitoring technology and improving the ease-of-use of instruments to boost the uptake of at-home tests.
  • Offering new business models such as patient self-testing and expanding into retail and mobile clinics.
  • Companies are urged to explore the potential of collaborations to co-develop POCT to provide integrated solutions (e.g. Chembio's and LumiraDx's collaboration to develop new POCT diagnostic tests for infectious diseases).

Growth Insights for US/European Infectious Disease Point-of-Care Testing (POCT) Market, Forecast to 2022 is part of Frost & Sullivan's global Advanced Medical Technologies Growth Partnership Service programme.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Growth Insights for US/European Infectious Disease Point-of-Care Testing (POCT) Market, Forecast to 2022
9AB9-54

Contact:
Kristina Menzefricke
T: +44 (0) 208 996 8589 
E: kristina.menzefricke@frost.com
http://ww2.frost.com

 

Source: Frost & Sullivan
Related Links:
from common-pcom:html:key:en_segment_includes_releases_right_column_video_module_shtml

Featured Video

Biotechnology Recent Releases

Computer/Electronics Recent Releases

Health Care/Hospital Recent Releases

Infectious Disease Control Recent Releases

Medical Equipment Recent Releases

Medical/Pharmaceuticals Recent Releases

Data Analytics Recent Releases

from common-pcom:html:key:en_segment_includes_overall_segment_footer_shtml
Advanced Search
Search
  
  1. Products & Services
  2. News Releases
  3. Knowledge Center
  4. Journalists & Media
  5. Multimedia Theater
  6. Contact Us