Vendors are focusing on the development of low-cost consumables to capture high shares in the market
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global point-of-care coagulation testing market in their latest research report. This report also lists 9 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of the following products using various technologies.
- Electrochemical biosensor technology: The technology offers low detection limits, sensitivity, accuracy, and reproducibility and the new devices need smaller samples but provide more rapid results.
- Optical biosensor technology: This technology checks for hemolysis and lipemia on some optical systems and helps in measuring highly sensitive antigen-antibody reactions in proteins present in micro amounts.
This Technavio report, under in-vitro diagnostics vertical, is based on the synthesis, analysis, and interpretation of information about the global point-of-care coagulation testing market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The vendors are focusing on product development and marketing strategies to increase their customer base and retain their market position. The investments towards technological advancements in POCT devices will increase the competition among vendors. Moreover, several new players are also entering the market because of the tremendous growth opportunities. The manufacturers are focusing on the production of low-cost devices to increase their revenue during the estimated period of next four years.
“To increase the accessibility of their products, many vendors are focusing on online marketing and promotional strategies. Through offering products online, the manufacturers are minimizing operational and distribution costs. The online platform enables vendors to offer information about devices in their portfolio and measure the sales volume of their products with ease. The online websites help companies to offer a wide selection of branded POCT devices and consumables,” says Srinivas Sashidhar K, a lead analyst at Technavio for research on in-vitro diagnostics.
Top five vendors in the body composition analyzers point-of-care coagulation testing market space
Abbott Laboratories
Abbott Laboratories develops, manufactures, and markets prothrombin testing diagnostic systems and cartridges. The company offers its POC devices to various departments including hospitals, ambulatory care centers, laboratories, long-term care centers, government agencies, emergency departments, and critical care centers. The company, through strategic partnerships and agreements, focuses on strengthening its position in the global point-of-care coagulation testing market.
Key product: i-STAT
Alere
The company offers a wide range of diagnostic tests and healthcare information technologies to medical professionals. It also provides home delivery of diabetes-related medical supplies. The company also focuses on growing long-term shareholder value and expanding its operational portfolio while maintaining a strong financial discipline.
Key product: Alere INRatio 2 PT/INR Monitoring Systems
F. Hoffmann-La Roche
The company operates in two lines of businesses including pharmaceuticals and diagnostics. Its supply chain network controls the procurement, manufacturing, and logistics of diagnostics and diabetes care products. The company is trying to retain its leading position in the diagnostics market through the development of innovative in-vitro diagnostic products and enhancement of the existing ones. Recently, the company entered a global distribution agreement with Sigma-Aldrich, a US-based manufacturer, and distributor of chemicals, biochemicals, and related products.
Key products: CoaguChek XS, CoaguChek XS Pro Meter System, and CoaguChek XS Plus
Siemens Healthcare
The company offers laboratory automation products like clinical chemistry, hematology products, drug testing diagnostics, immunoassays, plasma protein, molecular diagnostics, rapid diagnostic kits, and POC testing products. The company also develops high-complexity testing and clinical laboratory solutions by partnering with leading pharmaceutical companies through Siemens Clinical Laboratory. Recently, the firm partnered with Universal Biosensors to develop and market Xprecia Stride blood coagulation analyzers.
Key product: Xprecia Stride Coagulation Analyzer
Other prominent vendors in this market include Accriva Diagnostics, CoaquSense, Diagon, Helena Point of Care, HemoSonics, iLine Microsystems, Medtronic, Micropoint Bioscience, and Sysmex.
A more detailed analysis is available in the Technavio report, Global Point-of-Care Coagulation Testing Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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