Digital Health and Point of Care Driving Growth Opportunities in the Rise of Mobile Molecular Diagnostics
In established markets, POCT meets needs of growing trends in alternative and decentralized care, says Frost & Sullivan Global Transformational Health Team
MOUNTAIN VIEW, California, June 28, 2016 /PRNewswire/ -- As the cost of care rises, healthcare delivery is decentralizing. Delivery from health settings such as mobile clinics, rapid retail clinics and home settings demands the use of point-of-care (POC) diagnostics. Effective delivery of healthcare has created business and technology convergence between point-of-care testing (POCT) and digital health. In addition to focusing on data and remote monitoring capabilities, manufacturers are capitalizing on the CLIA waiver policy to increase the footprint of POC devices.
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New analysis from Frost & Sullivan, Growth Opportunities in the US Point of Care Market (http://utm.io/257077), reviews recent transformation, modifications in business models, growth opportunities and key predictions for the POCT industry.
If you are interested in more information, please contact Kayla Belcher, Corporate Communications, at kayla.belcher@frost.com.
Through growth opportunities, the POC industry will experience:
- A focus on developing extremely sensitive assays for high-risk diseases by employing molecular methods
- Advocating POCTs as a part of the screening programs for high-risk diseases
- Real-time access to data from every care setting, enabling direct data transfer via middleware solutions
- Diversifying and investing in high-growth segments of POC, such as infectious disease, cardiac and coagulation PT/INR
- Investing in emerging biomarker applications for sepsis, MRSA, endocrinology and gastric diseases
"The adoption of POCT is highly governed by reimbursement from Medicare and Medicaid. The adoption patterns of POCT technology in the U.S. across emergency departments, hospital laboratories, physician office laboratories and independent reference laboratories is very dynamic and varies," said Frost & Sullivan Transformational Health Senior Industry Analyst, Divyaa Ravishankar. "Challenges hindering adoption include reimbursement laws and technology advancements. POCT devices need to be accurate and operate efficiently, while focusing on portability and ease of use. Companies cognizant of these challenges search for methods to innovate and examine emerging markets and therapeutic segments based on the trends."
Community pharmacies and low-volume physician office laboratories are excellent customers offering medical diagnostic testing near the POC. Given the initial hesitancy to prescribe POCs, suppliers can offer the rental equipment model and seek partnerships with community pharmacies for new and upcoming tests to create awareness with patients through walk-in testing or workplace testing. This is a great way to attract new customers. The CLIA waived testing offers an excellent opportunity in the U.S. to expand the footprint of currently observed POCs.
"POCT creates opportunity for middleware software developers and lab-on-chip manufacturers thereby offering inexpensive disposable and cartridge alternatives to reduce the cost per test or assay at POC," noted Ravishankar. "Furthermore, multiplexing abilities and proficiency to test for a variety of diseases in a single test will prepare the market for broader usability and justify costs."
For future endeavors, CEOs should consider following in the footsteps of QuantumDx, Ubiquitome, Lucigen Diagnostics and GenePOC Diagnostics.
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Growth Opportunities in the US Point of Care Market is part of the Life Sciences Growth Partnership Service program. Frost & Sullivan's related studies include 2015 Global Laboratory Product Purchasing Trends, Industry Financial Review of the Global Laboratory Research Tools Market, United States Liquid Handling Market, and Global Next-generation Sequencing Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Growth Opportunities in the US Point of Care Market
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