Abbott is a globally diversified healthcare company with over $21 billions in sales and 94,000 employees in 150 countries. Its revenues are splits 58% in developed markets and 42% in emerging markets, with the latter growing at a rate twice as fast as the former.
Abbott now has one of the broadest portfolios, testing more conditions, in more settings and in more places around the world with POCT. Abbott has the capability to provide fast and accurate testing results for more than 100 infectious diseases. More importantly, Abbott offers those tests in markets where testing happens in more remote settings.
Abbott Diagnostics generated $559 million in the first quarter of 2018. Sales of diagnostics was led by infectious disease testing in several key geographies, including China, India and Brazil, said Abbott in their earning call.
This research will focus on the Diagnostics segment of Abbott, specifically the rapidly growing area of (Point of Care Testing) POCT for infectious diseases in China, specifically respiratory diseases.
The rates of infectious diseases are staggering. Over 17 million people globally die from infectious diseases every year. For instance, according to the (World Health Organization) WHO, approximately 10–20% of the world’s population get infected with seasonal influenza virus annually, among which 3 to 5 million cases result in severe illness, and about 290,000 to 650,000 deaths.
The WHO also states that in 2016 Chronic Respiratory Diseases (Lung Diseases) were the third leading cause of death in China, accounting for more than 1.2 million deaths. Infectious diseases, such as influenza & pneumonia and tuberculosis, are ranked respectively as the tenth and thirtieth leading causes of death in China, killing over 250,000 people combined in 2016. For instance, China has the third highest burden of tuberculosis in the world after India and Indonesia and the highest rate of influenza and pneumonia related diseases and deaths.
Following the outbreak of Severe Acute Respiratory Syndrome (SARS) in China in 2003, the Government enhanced infectious disease surveillance, building the web-based Nationwide Notifiable Infectious Diseases Reporting Information System (NIDRIS) in 2004. As a result, China now has the largest Web-based communicable diseases reporting system in the world.
Thirty-nine infectious diseases are regulated as notifiable diseases, classified as A, B or C according to their epidemic levels and potential population threats. Groups A and B (a total of 28 diseases) represent categories of diseases with high risk of outbreaks or that are likely to result in rapid spread once an outbreak occurs. HIV/AIDS, tuberculosis, rabies, hepatitis, and human infection of H7N9 avian influenza accounted for 98.8% of deaths in Group B, while foot and mouth disease, infectious diarrhea, and influenza were the most prevalent in this category, accounting for 98.5% of deaths, according to NIDRIS data in 2017.
This research for Abbott will target the Rapid Diagnostic Test market for the following respiratory diseases: Influenza, Respiratory Syncytial Virus RSV, Strep A, Streptococcus pneumonia, Legionella pneumoniae, Mycoplasma pneumoniae, Chlamydia pneumoniae, Respiratory Adenovirus, Epstein-Barr Virus (EBV), Tuberculosis – benchmark again GeneXpert, and Bordetella pertussis. Among them, deeper focus will be placed on Influenza and Mycoplasma Pneumoniae testing since they represent greater market opportunities. The Rapid Diagnostic Test market, along with POCT are the focus due to their large outreach and fast results.
The study will seek to gain a deep understanding of the market dynamics in the following areas through a 5-year span and how to better serve the Chinese population:
For regulatory and commercialization services in China Rapid Diagnostic Test market, please email us at info@ChinaMedDevice.com
China Med Device, LLC provides turn-key solutions for western medical device/IVD companies to enter China with regulation and commercialization services. Our CFDA regulatory services cover strategy, premarket submission, clinical evaluation, CRO, QA and post market compliance. We are experienced in handling innovation approvals and priority reviews. Our commercial services cover market assessment research, reimbursement, partnership, distribution qualification and management. We have offices in Beijing, Suzhou and Boston. Our management team has 100+ years of combined experience in medical device and IVD and has been involved with 1,000+ CFDA certificates and 200+ companies’ success.