Report on Clinical Lab Analyzer Market Shows Strong Growth
Instruments in the clinical laboratory analyzer market are becoming increasingly sophisticated and advanced in response to the mounting needs of diagnostic testing facilities. A number of important trends currently impact the market for clinical laboratory analyzers, particularly the movement toward increased workstation consolidation and more streamlined procedures. By presenting solutions that address some of the most critical issues facing laboratories, new analyzers have gradually been adopted in an effort to cut down on capital costs, reduce maintenance requirements, and boost productivity.
New analysis from Frost & Sullivan, reveals that the revenues in this industry reached $1.06 billion in 2004 and expects to rise to $1.30 billion by 2011.
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Clinical laboratory analyzer manufacturers are focusing on generating revenue and sustaining growth by introducing systems that are easy to use, reduce overall laboratory costs, and optimize laboratory procedures. Through a strong commitment to understanding laboratory workflow and testing demands, participants in the U.S. clinical laboratory analyzer market are developing innovative solutions to address growing customer demands and provide increased value to laboratory operations.
"As clinical laboratory testing capabilities become increasingly sophisticated and healthcare institutions continue to recognize greater value in these essential technologies for the improvement of disease management and patient success rates, the rising demand for quick and accurate results will surely inflict greater pressure on clinical laboratory operations," notes Frost & Sullivan Research Analyst, Silvia Cerqueira.
The clinical laboratory diagnostics market currently faces significant challenges, including increased lab decentralization as testing capabilities move to the point of care (POC) and the constant pressure imposed by healthcare cost containment efforts. More and more hospitals are beginning to realize many valuable added benefits in bringing diagnostic testing to the patients bedside, where they can conduct instant analysis, thus reducing the demand for tests performed in centralized laboratories.
"In recent years, increased competition from alternate technologies, such as advanced point of care systems and home testing devices, has begun threatening the market for clinical laboratory analyzers," explains Cerqueira.
In addition, many healthcare organizations have begun insisting that physicians be able to prove the medical necessity of all diagnostics in an effort to reduce spending. The multitude of tests that were traditionally ordered to provide a fair assessment of a patients general health status are now discouraged due to increasing costs. As a result, there has been some decline in the volume of tests ordered, which has correspondingly resulted in a slightly reduced demand for clinical laboratory analyzers.
"Retaining market share in this space in the future will depend on providing solutions that address customer concerns over personnel shortages, higher testing volumes, space constraints, cost pressures, and workflow management," notes Cerqueira. "With the clinical laboratory analyzer markets experiencing a trend toward testing consolidation, there is an increasing demand for integrated systems with expanded capabilities."
As a result, manufacturers consistently strive to design smaller, fully automated, and highly sophisticated systems at the lowest possible cost. In the future, the highly anticipated introduction of new and improved instruments promises to continue fueling new product placements and generating demand in this fairly mature market.
Source: Frost and Sullivan View latest company information
Posted: February 6, 2006
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