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Point-of-Care Testing Presents Growth Opportunities for a Cross-section of Companies


News provided by

Frost & Sullivan

01 Aug, 2016, 09:31 GMT

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Connected health strategies accelerate demand for POCT informatics favouring companies ranging from OEMs to data integrators and technology vendors

Frost & Sullivan Transformational Health research team

LONDON, Aug. 1, 2016 /PRNewswire/ -- The global healthcare industry's shift towards outcome-based delivery presents tremendous opportunities for agile participants in the POCT (Point-of-Care Testing) market. Europe has shown a marked preference for POC despite diversity in the regulatory and reimbursement environment across countries. Patients also place a greater emphasis on monitoring their own wellness ahead of physician intervention, which makes the region's POCT market particularly attractive. Already, disruptive technologies in molecular biology and DNA sequencing are improving the specificity and variety of services that are available. Further, the focus on connected health offers growth opportunities for a cross-section of players ranging from original equipment manufacturers (OEMs) to data integrators and technology vendors in the POCT informatics segment.

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Point-of-Care Testing Presents Growth Opportunities for a Cross-section of Companies

Photo - http://photos.prnewswire.com/prnh/20160801/394425

Recent analysis from Frost & Sullivan, Western Europe Point-of-Care Testing (POCT) Market (http://www.frost.com/sublib/display-report.do?id=MC01-01-00-00-00&src=PR), finds that the market was worth $2.90 billion in 2015 and expects this to reach $3.85 billion by 2020. The study covers POCT for blood glucose, HbA1c, cholesterol, blood gas and electrolyte, drugs of abuse, infectious diseases, pregnancy, haematology, cardiac, coagulation, foecal occult (FOBT) and urinalysis across the United Kingdom, Germany, Italy, France, Spain, Benelux and Scandinavia. Emergency departments are the major adopters of POCT due to its rapid turnaround times and the push to lower admission rates in hospitals.

To request exclusive information about this research and to schedule your one-on-one strategy dialogue with our analysts now, please click here to contact us or send an email to Jana Schoeneborn, jana.schoeneborn@frost.com.

Given the high incidence of cancer and chronic diseases like chronic myocardial infarction (CMI) and diabetes that require continuous monitoring, demand for POCT will steadily increase in Western Europe. However, stakeholders must stay abreast of market challenges as well as new avenues for growth that capitalize on emerging technological building blocks such as lab on chip and IT enhancements including middleware connectivity.

"Miniaturization of devices, promising applications in molecular diagnostics, oncology and antimicrobial resistance; and increased focus on data connectivity are fuelling the Western European POCT market," explained Frost & Sullivan Transformational Health Industry Analyst Sangeetha Prabakaran. "Emerging segments will also offer first mover advantages such as a competitive edge through patents, experience and brand recognition."

The need to access novel technology and expand product offerings as well as market share will drive market consolidation through mergers and acquisitions (M&A). Further, the increasing interoperability and data management in POCT unlocks upstream and downstream opportunities for non-healthcare companies.

"To grow, POCT companies will have to employ a diverse set of digital strategies and connectivity solutions," confirmed Prabakaran. "Innovation will also energise saturated segments like glucose monitors that face huge price pressure from low-cost manufacturers."

Major vendors in the market include Roche Diagnostics, Siemens Healthcare, Abbott Diagnostics, J&J, Danaher and Panasonic. Smaller next-gen companies to watch out for will be Biodirection, Nicox, and Microvisk.

Western Europe Point-of-Care Testing (POCT) Market is part of the Life Sciences (http://ww2.frost.com/research/industry/healthcare/life-sciences) Growth Partnership Service program. The research service explores key convergences that drive POCT development and the technological building blocks that contribute to future functionality in this market. The insight will enable vendors to assess upcoming opportunities in POCT from an application-/therapeutic-area point of view and to look at organic/inorganic means to monetize these opportunities.

Other recent topics covered under the subscription include: Growth Opportunities in the US Point-of-care Testing Market, Future of Cell Therapy in The Regenerative Medicine Market, Global Generic Pharmaceuticals Market, ASEAN Pharmaceutical Regulatory Landscape, Analysis of the Western European Clinical Laboratories Market, Asia-Pacific Point-of-Care Testing Market, Analysis of the US Clinical Laboratories Market, Opportunities in the Aged Care Market in Singapore, Analysis of the Cardiac Biomarker Diagnostics Market, Global Immunoglobulin Market, Global Human Albumin Market and Product Pipeline, US Nucleic Acid Purification Market, Product and Pipeline Analysis of the Global Colorectal Cancer Market.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Western Europe Point-of-Care Testing (POCT) Market
MC01-52

Contact:
Jana Schöneborn
Corporate Communications – Europe
P: +49 (0)69 77033 43
E: jana.schoeneborn@frost.com

http://www.frost.com

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