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U.S. Point-Of-Care Retail Diagnostics Markets
Frost & Sullivan, March 2003
Ease-of-use and Forceful Marketing Expected to Drive OTC Tests and Monitors Markets
Simple designs that aid convenience, accessibility, facility of interpretation, and instant results are major factors driving demand for OTC pregnancy and ovulation tests as well as cholesterol tests and monitors. Many manufacturers provide multiple test packages that reduce the overall cost per test besides saving time. Multimeters test for both glucose and cholesterol and provide the consumer with greater information and flexibility. Participants are likely to utilize both traditional and new media to instruct their target audiences about the efficacy and utility of their products.
This Frost & Sullivan research examines the U.S. Point-of-care Retail Diagnostics Markets. It offers revenue forecasts by market segment, covers key drivers and restraints, and provides strategic recommendations to overcome market challenges.
Awareness Campaigns to Boost Demand for Ovulation Tests
The ovulation market has been sluggish in the last two years due to low awareness and lack of advertisement, says the analyst. To achieve the kind of familiarity and market shares that pregnancy tests enjoy, manufacturers will have to promote their technological innovations through claim-driven marketing strategies. Publicity messages in the United States should also include warnings against the use of these products as prophylactics.
Redefined educational and career goals have increased the number of older first-time mothers. This combined with the decline in women's fertility after the age of 30 is expected to increase the demand for ovulation monitors and consequently, pregnancy tests. Teenagers represent a new market opportunity for the latter and targeting them can ensure consumer loyalty.
Broadcasting Informational Advertisements Increases Responsiveness to Cholesterol-related Disease Monitoring
Government organizations such as the National Cholesterol Education Program have been attempting to publicize the National Institute of Health's finding that coronary heart disease is mainly caused by excessive cholesterol. The public's acknowledgement of high cholesterol levels as a serious deleterious health condition is expected to drive sales of these products. Gaining public exposure and establishing relationships with pharmaceutical companies are expected to go a long way in boosting this nascent market, says the analyst. The use of cholesterol monitors at the point-of-care is expected to serve as an effective advertisement for the utility of these products.
The market is also being driven by the emergence of niche populations such as diabetics, who according to recent studies, have greater chances of suffering from coronary heart diseases due to excessive cholesterol levels. Manufacturers are currently developing OTC cholesterol tests that feature full lipid profiling, which have the potential to provide patients with immediate and comprehensive results, similar to those supplied by laboratories.
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