New analysis from Frost & Sullivan (http://www.pharma.frost.com), U.S. Rapid Microbiology Tests Market, reveals that revenue in this market totaled $529.0 million in 2004 and projects to reach $785.1 million in 2011.
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"Through mergers and acquisitions, participants can reduce their marketing costs, expand their product portfolio, and have more resources at their disposal," notes Frost & Sullivan Research Analyst Barath Shankar. "This is likely to be the trend for the next few years, after which probably all that will be left is four or five large companies with an extensive portfolio of products."
Technology innovation has come to a standstill in the U.S. rapid microbiology tests market since the invention of the lateral flow platform. Consequently, most segments of testing can move into molecular diagnostics, which is usually more reliable than the traditional rapid tests.
Given that traditional rapid tests are much cheaper, they will continue to sell, but as volumes grow in molecular diagnostics, there will be a shift to the latter. The sexually transmitted disease (STD) test segment is already onto the molecular diagnostics platform. However, segments such as streptococcus and influenza, where the volumes are already high, are not likely to see that shift.
To reduce the threat from such replacement technologies, market participants have to develop radical technologies. The technology platform for most tests is the same and there is not much product differentiation. As a result, price has become a major distinguishing factor.
"With the rapid microbiology tests market already entering its later stages of growth, a top challenge to participants is to develop innovative products that will stimulate interest in rapid tests, expand the customer base, and revive the industry as a whole," notes Shankar.
Rapid microbiology test companies have to develop groundbreaking products with an accent on size, sensitivity, speed automation, standardization, and the ability to communicate with information systems to gain the much-needed impetus to the market.
These tests can expedite diagnosis and thereby aid early commencement of treatment and therapy. By helping to avoid the unnecessary use of antibiotics and other drugs, these tests reduce overall costs, enable faster turnaround times, and provide higher patient satisfaction.
The use of rapid tests at physicians' office laboratories (POLs) also eliminates the need to visit hospitals. The untapped potential of bioterrorism tests in the corporate sector and the cost savings involved in fast detection of bioterrorism threats are likely to further drive technology innovations and faster revenue growth.
U.S. Rapid Microbiology Tests Market, part of the Clinical Diagnostics subscription, provides an overview of the markets for STD, gastrointestinal, respiratory, and bioterrorism tests. The study discusses the obstacles to market expansion and revenue generation and gives recommendations to deal with them. It enables companies to align their product positioning strategies to benefit from the changing markets and obtain maximum return on investment. Executive summaries are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. U.S. Rapid Microbiology Tests Market A809
Keywords in this release: rapid microbiology tests, U.S., streptococcus, sexually transmitted disease, STD, gastrointestinal, respiratory, bioterrorism, physicians' office laboratories, POLs, lateral flow platform, streptococcus, influenza, research, information, market, trends, technology, service, forecast
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