FRANCE: Microfluidics is an enabling technology allowing miniaturization and integration of laboratory protocols into portable devices. In the past few years, largest diagnostic companies worldwide have adopted microfluidic technology to develop and commercialize innovative diagnostic tests.
At Lab-on-Chip World Congress 2014 (LOAC 2014) the strategy consulting company, Yole Développement will present its latest analysis dedicated to the Point of Care industry, describe the market and details market figures.
“Different types of Point of Care tests are available on the market. Whereas simple lateral flow tests work perfectly without fluid management technology, microfluidics is necessary when test complexity increases”, explains Dr Benjamin Roussel, Activity Leader, Yole Développement. “A Point of Care testing based on microfluidic technology is expected to grow sharply, from $1.6 billion in 2013 to $5.6 billion in 2019, at a CAGR 2014-2019 of 23 billion,” he adds.
Major diagnostics companies including Alere, Abbott Point of Care, BD Diagnostics, Cepheid, Abaxis … have realized the potential of rapid molecular diagnostic testing. Indeed, several successful Point of Care products based on microfluidic technology have been launched in the past few years. Access to microfluidic technologies for diagnostic companies often passes through acquisitions, as this reduces the technology development risk and increases reactivity. For example, the most recent acquisition was the one of Iquum by Roche for $275 million in April 2014.