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MediPoint: Cardiac Markers Rapid Tests and Point of Care - Global Analysis and Market Forecasts

MediPoint: Cardiac Markers Rapid Tests and Point of Care - Global Analysis and Market Forecasts

  • December 2016
  • 110 pages
  • ID: 4773715
  • Format: PDF
  • GlobalData
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MediPoint: Cardiac Markers Rapid Tests and Point of Care - Global Analysis and Market Forecasts

Summary
Global cardiac marker point-of-care (POC) market to remain a promising area of growth within the in vitro diagnostics (IVD) industry. In 2016, revenue from cardiac marker POC diagnostics was $311.3m across the 15 major markets (15MM: US, Canada, Mexico, France, Germany, Italy, Spain, Russia, UK, Japan, China, India, South Korea, Australia, and Brazil).

Point-of-care testing (POCT), also known as bedside testing, near-patient testing, or decentralized laboratory testing, is an emerging specialty within in vitro diagnostics (IVD). POCT is one of the most rapidly growing areas in IVD, both due to the drive to increase efficiency and therefore improve patient care, and as a result of significant technological advances.

Sales are expected to increase throughout the forecast period, reaching $397.8m across the 15MM by 2023, growing at a Compound Annual Growth Rate (CAGR) of 3.6%. Despite global sales volume increasing, market value has not increased at the same rate in recent years. This is due to rapid price erosion taking place across the major markets, driven both by regulatory pressures and increased competition.

The competitive factors in the cardiac POC space include fast TAT of test results, price, data handling techniques, and analytical performance, as well as the R&D, marketing, promotion, and brand name recognition of the company. The competitive landscape has resulted in improvements in these areas and significant price decreases over the last three years, leading to a decrease in market size in some countries.

Going forward, it is expected that adoption of cardiac marker POC to supersede the decreasing prices, resulting in overall market growth. And also the incremental improvements with existing POC technologies will continue through the forecast period, as the continued miniaturization of electronics and increased computing power that are taking place in other markets spreads to POC devices, thus escalating the clinical advantages offered by POC diagnostics compared to centralized laboratory testing.

There are relatively few major players taking up significant market share in the cardiac marker POC market, predominantly selling quantitative handheld or bench-top analyzers. In addition, many companies selling qualitative rapid test strips offer cardiac markers in their portfolio, although these tend to be sold predominantly outside the US and European markets. Abbott, Alere, and Roche are the market leaders in the cardiac marker POC market, collectively accounting for 80.4% of global sales, followed by Siemens. Beyond these market leaders, many other large or medium-sized companies are competing for the remaining market share, including LSI Medience, Radiometer Medical, Response Biomedical, and Trinity Biotech.

Companies Mentioned within the research report: Abbott Point-of-Care, Alere, LSI Medience, Philips Healthcare, Radiometer Medical, Response Biomedical, Roche Diagnostics, Siemens Healthineers and Trinity Biotech

Highlights
Key Questions Answered
- What is the current and future cardiac marker POCT market outlook in the developed and emerging markets? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the cardiac marker POCT space across different regions?
- What are the key, high growth markets that IVD manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the cardiac marker POC tests currently on the market?
- What are the key factors influencing a physician to use cardiac marker POC tests? What is physician perception and market outlook of these devices?
- What are the challenges and barriers that have hindered widespread adoption of cardiac marker POC devices?

Scope
- Competitive assessment: Currently marketed cardiac marker POC products and evolving competitive landscape
- In-depth analysis of unmet needs and adoption trends of different cardiac marker POC devices
- Insightful review of the key industry drivers, opportunities, restraints and challenges. Each trend is independently researched to provide qualitative analysis of its implications
- Pipeline analysis: Emerging products and technologies.
- Annualized total cardiac marker POCT market revenue by segment and market outlooks by country from 2013-2022.
- Other key topics covered include strategic competitive assessment, market characterization, identification of unmet needs, market dynamics, and implications of the emerging technologies on the market.

Reasons to buy
The report will enable you to -
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline
- Develop business strategies by understanding the trends shaping and driving the global market
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the global market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the performance of various competitors
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage
- Track device sales in the global market from 2014-2023
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships

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