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2013 Could Be "The Year of The Point of Care Test": Kalorama

NEW YORK, NY -- (Marketwire) -- 12/28/12 -- A number of developments bode well for tests that are performed in the healthcare settings, according to Kalorama information. The healthcare market research publisher said that the nearly $17 billion point of care test (POCT) market will see faster revenue growth in 2013 than tests sent to central labs for processing. The finding was made in its report, The World Market for Point of Care (POC) Diagnostics, authored by Sannes & Associates.

Point of care includes all decentralized clinical tests -- including those purchased over the counter such as glucose and pregnancy tests. It also includes tests performed outside of the central hospital lab, physician offices, clinics and other patient care sites. POCT products have not always succeeded at levels predicted in the past, but Kalorama's report finds a confluence of events that will benefit testing in POC locales versus traditional testing:

  • In the United States, diabetes continues to drive demand, but also the Affordable Care Act, which will add 33 million people covered by health insurance, should increase the demand for healthcare services. The legislation has an emphasis on preventative services and screening which should boost POC efforts. Also, diagnostic testing may have an important role in improving the cost effectiveness of other types of healthcare such as expensive therapies.

  • EU governments see decentralized testing as a way to control the cost of delivering healthcare to their aging populations. Also, as with other developed countries, they have started placing greater emphasis on the prediction and prevention of disease through more proactive diagnostics. As a result, the POC testing market in Europe is expected to increase the number of tests conducted, the number of tests available and the number of test locations.

  • Japan's highly centralized form of healthcare delivery does not leave much room for POC testing in the physician's office. However, Japan's hospitals are increasing their uptake of rapid tests for emergency and critical care use. Also, Japan is the single largest market for rapid flu tests since Roche's Tamiflu is prescribed for all diagnosed cases of influenza.

  • The POC market is growing more rapidly in emerging markets such as China, India, Latin America, Eastern Europe, Russia, and parts of Asia and Africa. Entrepreneurial companies are taking advantage of this and are entering these markets. However, companies from regions such as the United States and Europe are facing competition from local companies that are emerging in these rapidly growing POC markets.

Kalorama sees growth at 1% faster than the IVD market overall due to these factors and others. Roche, Lifescan, Alere, Bayer and Abbott currently dominate point of care, but there are many other companies and new entrants. Kalorama identifies and profiles more than 140 of these POC companies in the report.

Kalorama's full-length study on the market for point of care testing, The World Market for Point of Care (POC) Diagnostics, contains a detailed segment breakdown of revenues, profiles companies in the market and discusses important trends. New POC innovations are also detailed in the report.

About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.

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Please direct all media inquiries to:
Bruce Carlson
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www.KaloramaInformation.com

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