Bone and mineral diagnostic testing: Key market research findings
- Shift towards automated assays
- Increasing focus on POC diagnostic testing
Technavio has added a new market research report on the global bone and mineral diagnostic testing market, which is expected to grow at a CAGR of more than 4% between 2015 and 2019. Factors that can be attributed to this market’s growth are growing awareness of diagnostic testing among the populace, rapid advances in technology, and increased number of product launches and approvals from regulatory authorities. The Americas are estimate to lead the global market for bone and mineral diagnostic testing, occupying around 50% of the overall market share. High market dominion of this region is due to the prevalence of diseases such as Paget’s disease and osteoporosis in the US. Also, the recent rise in laboratory automation and increased FDA approval for new products also boost the prospects for growth in this market during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market vendors are developing automated assays due to the growing need for shorter and quicker procedures. Automation of immunoassays decreases the errors that can occur during assay, thereby enhancing analytical precision. Many consumers prefer automated assays for improved performance and due to their cost-effectiveness. Siemens’ IMMULITE 2000 immunoassay system provides optimum efficiency and consolidation in medium- and high-volume laboratories. Moreover, recently Immunodiagnostic Systems received FDA clearance for its automated 1,25-dihydroxy vitamin D assay,” says Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research
Growing focus on POCT diagnostic tests is expected to propel this market’s growth over the next four years. These tests are quick, decentralized and give immediate treatment decisions to the pateints without any delays. POC diagnostic tests are fast emerging as a preferred tool for efficient diagnosis and patient evaluation. Several vendors are aiming towards developing innovative POC-based products. For instance, recently Quidel launched the Sofia vitamin D rapid POC test on fingerstick whole blood.
The key vendors in the global bone and mineral diagnostic testing market include Abbott Diagnostics, bioMérieux, DiaSorin, Roche Diagnostics, Quidel, and Siemens Healthcare. This market is highly fragmented due to the presence of multiple medium- and small-sized manufacturers who provide immunodiagnostic test kits for bone and mineral metabolism. The large companies in this market face intense competition from the smaller vendors as they provide cost-effective products to the patients. Vendors in this market compete on the basis of price, quality, range of products, and distribution capabilities to gain prominence in this market during the forecast period
A more detailed analysis is available in the Technavio report, Global Bone and Mineral Diagnostic Testing Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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