Microfluidic-based Point of Care is Now a Must-have for Diagnostic Companies
News May 17, 2014
“Diagnostic companies confirm the adoption of microfluidic technologies for point of care testing”, announces Dr Benjamin Roussel, Activity Leader, Medical Technologies, from Yole Développement.
Indeed the point of care market’s contribution to in vitro diagnostic is poised to increase from 13% to 17% over the next five years, leading to a market of around $30B in 2019. Under this context, the French consulting company, Yole Développement releases its report, “Point of Care Testing 2014: Applications for Microfluidic Technologies”.
This technology and market study provides an in-depth analysis of microfluidic devices dedicated to point of care; including nearly 60 new technologies, commercialized or close to the market, Yole
Développement’s report also proposes an innovative market segmentation combined with market forecasts.
This analysis includes the following applications: emergency testing - home tests - doctor’s office screening - decentralized hospital tests - environmental testing - Forensic and military - third-world infections - agro-food.
“Different types of point of care tests are available on the market. Whereas simple lateral flow tests work perfectly without fluid management technology, microfluidics is necessary when test complexity increases”, explains Benjamin from Yole Développement. Indeed, microfluidics is an enabling technology allowing miniaturization and integration of laboratory protocols into portable devices.
Point of care testing based on microfluidic technology is expected to grow sharply, from $1.6B in 2013 to $5.6B in 2019, at a CAGR 2014 - 2019 of 23%. Major diagnostics companies (Alere, Abbott Point of Care, BD Diagnostics, Cepheid, Abaxis, etc.) have realized the potential of rapid molecular diagnostic testing. Indeed, several successful point of care products based on microfluidic technology have been launched in the past few years.
Access to microfluidic technologies for diagnostic companies often passes through acquisitions, as this reduces the technology development risk and increases reactivity. The most recent acquisition was that of IQuum by Roche for $275M in April 2014.
In its new report, Yole Développement describes how mergers and acquisitions will decrease in volume but increase in value. Based on a complete analysis of the last three years’ developments, the company has been able to draw effective conclusions.
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