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The Global Market for Point of Care Diagnostics - Major Players and Key Issues
Espicom Business Intelligence Ltd, Dec 2007, Pages: 564
The 2nd edition of this two volume guide from Espicom provides an extensive competitive comparison and evaluation of major and emerging companies, sets the POC markets in context and provides market valuations as well as critical appraisal of research & innovation.
Providing…
- Extensive competitive comparison and evaluation of major and emerging companies
- Market valuation and POC markets in context
- Critical appraisal of research & innovation
Covering…
- Blood Glucose
- Cardiology
- Coagulation
- Blood Gas/Electrolytes
- Infectious Diseases
- Pregnancy/Fertility
- Clinical Chemistry/Urinalysis
- Haematology
- Drugs of Abuse
- Tumour Markers
- Data Management
- Emerging Research Trends
The global point of care (POC) testing market is currently estimated to be worth US$11.3 billion in 2007 and is growing at 11% a year. POC testing accounts for approximately 34% of the US$33.6 billion global in-vitro diagnostic (IVD) testing market. Diagnostic testing accounts for only between 1-2% of government healthcare expenditures worldwide, yet influences between 60-70% of healthcare decisions.
The changing face of the POC industry
Double digit growth expectancy for POC testing has spurred considerable investment and interest from the industry. Although the POC sector is, in many respects, relatively immature it is already characterised by a great deal of M&A activity.
The most active acquirer at present is Inverness Medical Innovations which has made multiple acquisitions in recent years, buying up leading companies such as Biosite, Cholestech and Hemosense among others, and providing the company with a significant presence in cardiology and other segments.
Unsurprisingly, the POC market has also seen moves by large multinationals which previously had no presence in the IVD market. Siemens, for example, made major acquisitions to establish its diagnostics division, with Diagnostics Products Corporation and Bayer Diagnostics coming under the Siemens umbrella in 2006 at a cost of US$5.7 billion. The company has also just completed the acquisition of leading diagnostics company, Dade Behring, in a transaction valued at approximately US$7 billion.
3M Health Care also established a new medical diagnostics business in March 2007 and has already entered alliances with Response Biomedical and Gen-Probe in its aim to become a leader in screening for hospital and community-acquired infectious diseases. Strategic alliances such as this are a key feature of this rapidly evolving market, with many combining the innovations of smaller companies with the strong established distribution channels of large multinationals.
A positive outlook for this rapidly growing sector
Drivers of growth
Healthcare Trends
Rising health costs have created new expectations in hospitals including shortened patient stays, and a movement from an inpatient to an outpatient or ambulatory setting.
As hospitals become treatment centres for the acutely ill and no longer serve primarily as diagnostic centres, the subsequent change in the patient's hospital stay and patient acuity have placed demands on the laboratory to deliver information in a manner which will facilitate rapid diagnosis and treatment. Because these demands have compressed the timeframe for performing testing, shorter turn around times and an increase in the volume of stat testing have become a necessity.
Social Pressure
Many patients today have greater medical knowledge, more money and greater expectations of healthcare services. They are demanding faster, more effective treatment and want greater control of their health.
Industry Pressure
Manufacturers are driving growth through the development of diagnostics instruments and tests that are simple and easy to use specifically for the POC environment. Many of the devices have data management capabilities to enable them to be linked to hospital information systems for the capture of patient data.
Technology Advancements
- High-quality lab tests are now available at the point of care with smaller test systems suitable for POC environments and automated features of new POC instruments.
- Wider test menus – a greater variety of tests have been developed for POC instruments.
- Increase in the availability of home-testing devices.
- Increased use of data management tools to handle POC test data and costs throughout the healthcare system.
- Quality Control – advances in software to either automate quality control or alert operators to perform QC before a patient sample is analysed.
- Future multiplex systems offering the promise of more cost-effective testing with several parameters measured from just one sample.
Future developments...
It is clear that technological advancements in POC equipment will be a future growth driver in the POC market. Various companies are developing multiplex assay systems which enable the simultaneous measurement of numerous analytes from one small sample. This represents a major advancement in POC testing and offers the opportunity of lower costs and a reduction in the number of tests performed.
Broad interest in pharmacogenetic testing is developing rapidly as clinical laboratories, physicians, payers, patients, and pharmaceutical companies seek to provide the most appropriate treatment for each patient, while mitigating the high costs of healthcare and drug development. Advances in nucleic acid testing technologies have contributed to this growing interest by enabling rapid, multiplex genotyping analysis, which is required for widespread adoption of pharmacogenetic testing by clinical laboratories.
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