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Global Markets for Rapid Medical Diagnostic Kits

  • June 2013
  • 150 pages
  • BCC Research
Report ID: 1498887

Summary

Table of Contents

STUDY GOALS AND OBJECTIVES

The current report focuses on the rapid medical diagnostic kit (MDK) portion of the overall MDK market. Within the MDK market there are rapid kits, which in this report are defined as nonautomated tests that provide results in two hours or less, MDK that require more than two hours to complete and MDK that are analyzed and read with the use of automation.

The analysis of the rapid market will include an overview of the MDK global market and the position of rapid MDK within that market; a technology review with a description of the types of rapid tests currently used and emerging technologies that will affect the market in the future; rapid tests for use in the clinical, home and veterinary markets, and an overview of current regulations and economic concerns that impact the market.

REASONS FOR DOING THE STUDY

The increasing use of rapid tests enables the clinician and the patient to receive test results quickly, usually within 30 minutes, and enable the clinician to prescribe the appropriate medications to treat an identified problem. In the past, clinicians relied on out-of-office laboratories that often took days to weeks to process tests. This left the clinician to begin treatment protocols without a clear diagnosis.
Several factors are driving the rapid MDK market.
• An extremely large aging population of 78 million so-called “Baby Boomers,” who will demand quicker diagnosis and treatment.
• Increasing rates of various types of cancer and the need for rapid confirmatory tests.
• Continued threat of bioterrorism through chemical/biological methods and the need for rapid detection and early treatment.
• An ever-increasing at-risk population of individuals with diabetes, hepatitis and human papillomavirus (HPV).
• A slowdown in HIV/AIDS diagnosed cases, but still large numbers of individuals who have the disease but are unaware of it.
• A virtual epidemic of substance abuse.
• Introduction of infectious diseases from global migrations of people.
• Reintroduction of infectious diseases such as syphilis, tuberculosis and measles, thought to be vanquished.

This report will identify and examine these marketplace trends and forecast future market changes from 2012 through 2017.
The current veterinary rapid MDK marketplace is highly competitive with dominance by less than four companies, but expanded competition on a regional basis. Idexx is the acknowledged market leader, but loss of patent protection on key products and increasing competition, particularly in the area of heartworm diagnostic kits, will ensure a competitive market with various pricing strategies.
The clinical market includes rapid tests for infectious diseases, cancer markers, pregnancy, drugs of abuse and diabetes.
The home-use market continues to expand with tests for human immunodeficiency virus (HIV), hepatitis, drugs of abuse, pregnancy and diabetes. This report includes blood glucose monitors and test strips for diabetes testing.

SCOPE OF REPORT

The report concentrates on rapid MDK and their position in the overall MDK market. The report specifically excludes tests that involve automated testing or tests that require processing devices and semiautomated batch testing devices.
The rapid MDK market encapsulates current and potential products, related technologies, components and component suppliers, end markets, governmental and regulatory agencies, major companies competing in this market, relative market shares and the impact of the worldwide market status.

This study defines the MDK market and provides detailed information on the following.
• Products that comprise the rapid MDK industry.
• Emerging and current MDK technologies.
• Analysis of these technologies and the effect on future market development.
• Market structure and current market size, with forecasts by type of product and market region from 2012 to 2017.
• The effect of external market forces, such as insurance, regulatory and economic issues and increased incidence of disease.

INTENDED AUDIENCE

This study of the competitive and evolving MDK industry will be beneficial to diagnostic industry participants holding marketing, management and technical development positions. It will also benefit readers who are suppliers to this industry. Additionally, investors, venture capitalists, insurance companies and those interested in diagnostic medical testing will find this report valuable.

METHODOLOGIES AND INFORMATION SOURCES

Sources for this report include information provided by company representatives, company websites and product literature, financial analyst reports, industry association members and industry sources.
The primary data collection methodology for this report focuses on information provided by industry personnel through Web-based sources or interviews, government agencies, industry observers and industry professional organizations. In addition to these primary data sources, secondary data research techniques include a literature search of medical, government and business sources.
All data collected were analyzed by BCC personnel to determine specific findings and to make forecasts. Growth forecasts are made in constant 2011 dollars based on the U.S. manufacturers’ (wholesale) price levels, unless otherwise noted.

ANALYST CREDENTIALS

Peggy S. Lehr is the BCC research analyst of this report. Ms. Lehr holds a BS in Journalism from the University of Colorado, Boulder, and a MS in Communication from the University of Denver. Ms. Lehr has been involved with the medical/nursing industry for more than 20 years, and she has worked within the publishing industry for both for-profit and not-for-profit organizations. Recent reports for BCC include seven healthcare reports and her latest report, PHM061B, on the global infectious disease market.

REPORT HIGHLIGHTS

This report provides:
• An overview of the market for rapid medical diagnostic kits, with an intensive examination of the in vitro diagnostic kit segment of the medical device market.
• Analyses of market trends, with data from 2011 and 2012, and projections of compound annual growth rates (CAGRs) through 2017.
• Discussion of changes that have occurred over the last five years as the result of technological advances and regulatory implementations, and the impact those changes will have on the overall market and key market segments.
• Examination of the effect on the market of inexpensive, automated testing devices, known as point-of-care (POC) instruments, which have replaced MDKs in smaller laboratories and physicians’ offices.
• Emerging marketing practices, such as strategic alliances and acquisitions.
• Coverage of the effect of external market forces, such as insurance and increased incidence of disease.

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