How Should Companies Monetize Opportunities in the POCT industry?
Partnering beyond conventional boundaries is key to future sustainable growth, explains GIL Briefing by Frost & Sullivan's Transformational Health Team
ACCESS: Receive recorded version by contacting jana.schoeneborn@frost.com
SPEAKERS: Divyaa Ravishankar, Frost & Sullivan Senior Industry Analyst and guest speakers Paul Pickering, President and CEO, Ubiquitome and Herbert Torfs, VP Business Development and Strategy, GenePOC
LONDON, Sept. 15, 2016 /PRNewswire/ -- In the ever increasingly costly healthcare sector focus is placed on data and remote monitoring capabilities. Healthcare delivery is moving toward decentralization. Delivery from health settings such as mobile clinics, rapid retail clinics and home settings demand the use of point-of-care diagnostics. The GIL Briefing is joined by Paul Pickering, president and CEO, Ubiquitome, and Herbert Torfs, VP Business Development and Strategy, GenePOC, who discuss their experience with market trends, regulatory road blocks, and unaddressed needs in the US, Europe, and developing nations.
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"Taking cognizance of the changing market segmentation and emerging opportunities will prove crucial for device manufacturers and other stakeholders in the value chain", finds Divyaa Ravishankar, Frost & Sullivan Senior Industry Analyst. In a highly dynamic market as this, market participants need to make use of the right time and technology, and selecting right partners to capitalize on the trend to move ahead. Moreover, stakeholders hold varying expectations in different regions.
Guest speaker Herbert Torfs from GenePOC for example points out that the adaption in Nordic countries and the UK is further advanced than in other European countries, both due to different mind sets and regulatory incentives. Paul Pickering, Ubiquitome, predicts that where regulators allow it, markets will trade off workflow convenience for price and flexibility. This makes community pharmacies and low volume physician office laboratories excellent customers that offer medical diagnostic testing near the point of care.
Given the initial hesitancy sensed in the case of physician prescribing POCs, suppliers can offer the rental equipment model and seek partnerships with community pharmacies for new and upcoming tests to create awareness with patient through walk-in testing or workplace testing. Companies who succeed in the POCT market are those that adopt strategies to increase the usability of tests. Exploring new customer groups and understanding their needs will disrupt their way of doing business.
This GIL Briefing helps identifying:
- Early stage companies that are moving toward simplicity of testing
- Areas of point-of-care testing which category leaders consider for future growth and expansion
- The key convergences which will drive sector growth
- How the segment will evolve or change
- Trends and pricing strategies in Europe and other developing countries like India and China
Access:
- To receive a recorded version of the webcast, email Jana Schoeneborn, Corporate Communications, at jana.schoeneborn@frost.com your full contact details.
Supporting Resources
- For more information about Frost & Sullivan's Transformational Health team, please visit: http://frost.ly/pu.
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Contact:
Jana Schoeneborn
Corporate Communications – Europe
P: +49 (0) 69 770 3343
E: jana.schoeneborn@frost.com
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