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Point of Care Diagnostics Market in the US: Opportunities and Challenges
BioPerspectives, Sep 2006, Pages: 156
Diagnosing at the point of care offers many advantages: increased patient empowerment, improved clinical outcomes, and fewer days at the hospital. As a result, physicians are ordering more point of care tests and companies are racing to meet growing demand. Their efforts are made easier by improved knowledge of diseases and drug responses at the molecular level and improved technologies that enable simpler, more self-contained testing. These trends, according to a new report are expected to drive double-digit growth over the next five years. According to this new report, the market is expected to grow from $5.5 billion in 2005 to as much as $7.5 billion in 2010.
But this opportunity is not without challenges. Point of care diagnostics is a highly competitive and challenging marketplace, with more than 50 companies and 40 types of tests, not to mention regulatory guidelines, reimbursement challenges, and information technology infrastructure needs. Moreover, point of care testing is inherently more expensive than central laboratory-based testing on a per test basis, resulting in intense price pressure. Success in this market depends on a detailed understanding of the trends, the unmet needs, the technologies, and the prices.
This new report is the ideal tool for planning for success. The comprehensive analysis of the US market is based on
(1) a proprietary comprehensive database of tests,
(2) discussions with clinicians,
(3) detailed assessments of current and emerging technologies, and
(4) CDC, FDA, and professional organizational guidelines and publications.
Twenty-one figures, 32 tables, and profiles of 57 companies present the information in a simple and readily accessible manner. This report is the go-to tool for those wishing to enter and those wishing to stay current in this dynamic market.
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