Lateral flow tests, also known as immunochromatographic strip (ICS) tests, offer dramatic benefits in the diagnostic process that point towards a robust market. LF tests are point of care tests that reduce the time spent waiting for test results from hours to minutes, require less training for operators, and reduce the cost of both device development and manufacturing.
Rapid point of care testing devices will play an increasingly important role in the decentralization of medicine, where testing is moving away from hospitals and to pharmacies and even shopping malls, a trend that will fuel exponential growth. Despite these certain trends, competition is heavy and there are issues and trends affecting this market that new entrants need to be aware of.
Kalorama Information’s Lateral Flow Technology and the Future of Point of Care Diagnostics, is a perspective on the past and future of rapid clinical tests, is your guide to this increasingly crowded LF testing market place. Kalorama Information’s report cuts through the hype about the lateral flow point of care marketplace and provides a realistic assessment of this growing field. Every critical aspect of the LF market is addressed, including the following key topics:
The current sales figures and realistic projections for 2010.
The core factors driving LF testing revenues up.
The growing number of need-to-know companies in Lateral Flow Test devices.
The trends to watch that could increase sales predictions.
Expected gains to be made by LF POC devices over lab-based immunoassays across categories.
Obstacles that could trap new entrants.
An interview with the original developer of LF testing technology with his take on where this market is headed.
This report provides a realistic assessment acknowledging the reality of payors’ emphasis on cost/benefit analysis for new technologies. Current sales and predictions for 2010 sales are provided for the diabetes, oncology, cardiac marker, pregnancy and other LF test markets.
Kalorama’s unique and thorough research process provides an exhaustive analysis of this evolving market. Information was gathered using both primary and secondary research including comprehensive research of secondary sources such as company literature, databases, investment reports, and medical and business journals.
For the purpose of this study, Kalorama Information conducted telephone and email interviews with key industry officials, consultants, health care providers, and government personnel. These sources were the primary basis in gathering information specifically relating to revenue and market share data presented in this report. Specific interviews with device company representatives included marketing directors, division managers, and product development representatives.
In addition to superior coverage of the overall market, specific company profiles are included for the following device makers:
Becton, Dickinson and Company (BD)
Beckman Coulter Inc.
Instrumentation Laboratory (IL)
Inverness Medical Innovations, Inc.
The Second Tier
Acon Laboratories, Inc./Innovacon
Addison-Davis Diagnostics, Inc. (ADDI)
Akers Biosciences, Inc.
ALFA Scientific Designs, Inc.
Analyte Works Ltd. (formerly BioPreventative Ltd.)