Worldwide Lateral Flow Point-of-Care Tests Market to Surpass $2.7 Billion by 2010
(PRLEAP.COM) New York, February 18, 2007 — As the global call for increased usage of near-patient diagnostic testing escalates, the market for lateral flow point-of-care (LF-POC) tests for everything from cardiac markers and cholesterol to diabetes and infectious diseases continues to rise at a healthy rate, with sales expected to surpass $2.7 billion by 2010, according to Lateral Flow Technology and the Future of Point of Care Diagnostics, a new study from medical market research firm Kalorama Information.
The market analysis currently estimates sales of LF-POC tests—including the home/OTC market and those used by professionals in hospitals, physician’s offices, and clinics—at $1.8 billion. Growth averaging 8% per year is expected as the popularity of patient self-testing grows and pharmacies, retail outlets, and physician offices continue to establish their position as viable alternatives to laboratories for patient wellness screening.
Also known as immunochromatographic strip (ICS) tests, these rapid-result tests have shown the greatest market potential in the professional POC setting where rapid-result cholesterol, influenza, and strep tests, among others, have given rise to healthy market growth.
Similarly, diagnostic testing for diabetes, pregnancy, drug abuse, even heart disease and some cancers is slowly moving from the hospital to the pharmacy and even the shopping mall, options that allow consumers increased control over their health. Lateral flow tests are offering the high portability and low cost needed to make this new health trend a reality.
“New tests in development should help to assure market growth and wider acceptance with both patients and health providers,” notes Shara Rosen, the report’s author. “Additionally, the digitization of test results, which can offer the promise of greater accuracy and be linked to centralized management stations and healthcare information systems, is on the horizon and may very well secure a brighter than projected future for this market.”
Lateral Flow Technology and the Future of Point of Care Diagnostics includes research and development pipelines, extensive company profiles, trends to watch which could increase sales predictions, and more. It can be purchased directly from Kalorama Information by visiting http://www.kaloramainformation.com/pub/1393074 .html. It is also available at MarketResearch.com.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent market research on medical markets. For more information, contact Tom Ehart at 240-747-3014 or tehart@marketresearch.com, or visit www.KaloramaInformation.com.
The market analysis currently estimates sales of LF-POC tests—including the home/OTC market and those used by professionals in hospitals, physician’s offices, and clinics—at $1.8 billion. Growth averaging 8% per year is expected as the popularity of patient self-testing grows and pharmacies, retail outlets, and physician offices continue to establish their position as viable alternatives to laboratories for patient wellness screening.
Also known as immunochromatographic strip (ICS) tests, these rapid-result tests have shown the greatest market potential in the professional POC setting where rapid-result cholesterol, influenza, and strep tests, among others, have given rise to healthy market growth.
Similarly, diagnostic testing for diabetes, pregnancy, drug abuse, even heart disease and some cancers is slowly moving from the hospital to the pharmacy and even the shopping mall, options that allow consumers increased control over their health. Lateral flow tests are offering the high portability and low cost needed to make this new health trend a reality.
“New tests in development should help to assure market growth and wider acceptance with both patients and health providers,” notes Shara Rosen, the report’s author. “Additionally, the digitization of test results, which can offer the promise of greater accuracy and be linked to centralized management stations and healthcare information systems, is on the horizon and may very well secure a brighter than projected future for this market.”
Lateral Flow Technology and the Future of Point of Care Diagnostics includes research and development pipelines, extensive company profiles, trends to watch which could increase sales predictions, and more. It can be purchased directly from Kalorama Information by visiting http://www.kaloramainformation.com/pub/1393074 .html. It is also available at MarketResearch.com.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent market research on medical markets. For more information, contact Tom Ehart at 240-747-3014 or tehart@marketresearch.com, or visit www.KaloramaInformation.com.
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