Via: Cambridge Consultants
According to a number of leading experts from across the diagnostics industry, the market for over-the-counter (OTC) tests is poised for exceptional growth.
The drivers for such growth, beyond the current market for glucose and pregnancy tests, come from the healthcare providers who want to reduce the burden of care and identify conditions much sooner; and the consumers who want to play a more active role in managing their health.
Between 2005 and 2010 this new OTC market is predicted to grow by at least 5% CAGR to $690m. Beyond 2010 the market will expand more into the consumer sector, and could rival that for glucose testing, which currently stands at around $6 billion.
At the moment the worldwide consumer diagnostics sector is predominantly focused on glucose and pregnancy testing. However, with the prevalence of conditions such as cardiovascular disease, high cholesterol and obesity there is a major commercial opportunity and patient benefit for in-home testing and monitoring.
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