Diagnostics, as it has been for the last twenty years, is one of the biggest and most heated markets in today's hospital industry.
Despite all of the uncertainty and anxiety pervading the health care industry from the hallowed halls of Washington, the diagnostics market remains robust and dynamic. Current industry estimates project that in the United States alone, the diagnostics market will continue to grow in excess of 10% a year--approaching $8 billion before the turn of the century.
The largest single piece of this market is the laboratory immunoassay testing segment. Worth a little more than $1 billion in 1990, this segment is projected to approach $2.5 billion by 1995!
The attractiveness of immunodiagnostics from a business and, specifically, a marketing perspective, is that it is made up of several distinct subsegments (based on types of tests). At least four well-established detection technologies are driving the market.
Opportunity for right company with right product
The nature of diagnostics as a whole is to provide the health care provider with a relatively fast, inexpensive means to quickly and effectively determine a patient's condition. Rapid, accurate and cost-efficient test results ideally fit in with the intense cost containment pressures that the entire industry is facing. So, there's plenty of opportunity for the right companies with the right products.
There are more than 50 companies competing in the U.S. immunoassay market. Most of these are small kit and reagent …