MEDICAL DIAGNOSTIC KIT MARKET EXPECTED
TO GROW 7% BY 2002
diagnostic kits (MDKs) are analytical test kits packaged for use on a
single test basis. This market is comprised of a diverse group of end
users, ranging from sophisticated researchers and clinical laboratory and
veterinarians to individuals performing self-testing on a home-use basis.
It is the expansion of the home-use and veterinary segments, complemented
by expanded use by researchers that has fueled this market growth.
Clinical laboratory use has diminished as more automated instruments have
taken hold. The fact that MDKs are easy to use, portable, provide fast and
easy-to-read results and require no expensive information provides the
major advantage of using these tests over other methods.
According to a soon-to-be-released
Business Communications Company, Inc. study, C-045U:
Medical Diagnostic Kits and Products, the total market for
medical diagnostic kits is currently $3.1 billion and is expected to
increase to $4.3 billion in 2002, representing an average annual growth
rate (AAGR) of 7%.
BCC points out that clinical laboratories are
currently at $1.4 billion and will increase to $1.6 billion by 2002. This
will create an AAGR of 4%.
The home-use MDK segment has expanded as a result
of the availability of new tests and the expanded use of established tests
as the U.S. population continues their trend of self-medication and taking
control of their health. New tests introduced into the home-use segment
include cholesterol, occult blood, HIV and drugs of abuse testing. During
1997 the home-use market is valued at $823 million and is expected to have
the most growth. In 2002 the market will rise to $1.2 billion, creating an
AAGR of 8%.
In the research market sector, medical diagnostic
kits are also expected to do well. In 1997, the market is at $490 million
and will increase to $789 million, creating the highest AAGR of 10%.
BCC concludes that veterinary testing continues
to expand for both the U.S. pet and commercial animal population. The
market sector is currently at $422 million and will grow to $637 million
by 2002, producing an AAGR of 9%. The MDK market is technology driven, but
external factors have an impact, particularly government regulations and
cost containment efforts.
Kit Applications Market
|Clinical Laboratory Market
C-045U Medical Diagnostic
Kits & Products
PUBLISHED: September 1997
Data and analysis provided courtesy of
BUSINESS COMMUNICATIONS COMPANY, INC., 25 Van Zant Street, Norwalk, CT
06855, Telephone: (203) 853-4266; ext. 309, Email: email@example.com