Point of Care Testing based on Microfluidics: Player consolidation is inevitable!
The year 2016 begins with the wheels spinning swiftly towards a decentralizing testing industry. Indeed, Abbott recently announced the acquisition of Alere for a total expected equity value of $5.8 billion. With this acquisition, Abbott will expand its existing point of care tests portfolio (I-Stat, Piccolo Xpress) and become a global leader in Point of Care testing.
Source: Microfluidic Applications in the Pharmaceutical, Life Sciences, In-Vitro Diagnostic, and Medical Device Markets report, Yole Développement, Jun.2015
Alere, founded in 2001 and previously known as Inverness Medical Innovation, bet big on rapid diagnostic tests and won. The company subsequently expanded its business via internal developments and external acquisitions of many microfluidics players. In 2007 Alere beat out Beckman for the acquisition of Biosite, and in 2011 Alere acquired its rival, Axis-Shield, for around $375M. Finally, in 2013, the company acquired Epocal, Inc. for about $166M.
Besides Abbott and Alere, several other companies are excelling in the Point of Care testing market (discover Yole report Point of Care Testing 2014: Applications for Microfluidic Technologies) . In 2014, Cepheid’s revenues exceeded $470M and Abaxis reported $162M. These companies have survived the “acquisitions wave” up to now, but for how long? No doubt the diagnostics giants are eyeing them with much interest.
The need to quickly decentralize diagnostics has never been greater. Strong research involvement has led to start-ups and growing interest from semiconductor players, and the number of new players in the field is growing fast. In fact, Yole has identified 60+ new Point of Care solutions providers that use microfluidic technologies, including Radisens Diagnostics, Ativa, and GenePOC. These companies and others are prime targets for M&A!
Yole Développement, known industrywide as the “More than Moore” market research and strategy consulting company, recently published a technology & market analysis titled Microfluidic Applications in the Pharmaceutical, Life Sciences, In-Vitro Diagnostic, and Medical Device Markets. This analysis provides an in-depth review of microfluidic devices dedicated to point of care, along with market forecasts, a disruptive market segmentation, and an M&A analysis.
Source: Microfluidic Applications in the Pharmaceutical, Life Sciences, In-Vitro Diagnostic, and Medical Device Markets report, Yole Développement, Jun.2015
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Source: www.yole.fr