PRODUCTS & INNOVATION
The fast-growing business looks to develop new near-patient tests and expand markets.
Nov 2 2018
Nearly 2 billion: that’s how many tests that medical professionals administered using rapid diagnostic and point-of-care devices in the past year.
People around the world enjoy immediate benefits from these tests: they find results faster, receive more accurate diagnoses and some receive medical care that they otherwise wouldn't have because of rural, remote and hard-to-access settings.
After integrating operations on six continents with businesses as diverse as consumer tests, molecular testing and data-centric analysis, Abbott’s Rapid Diagnostics business is poised to build on its industry-leading position in the segment.
"We've succeeded in combining the best elements to build a real powerhouse," said Sharon Bracken, senior vice president for Rapid Diagnostics. "We are focused on driving growth of our devices into new regions and countries as well as to different customer segments."
There are abundant opportunities to build on Abbott's No. 1 position for rapid diagnostics by introducing near-patient tests that achieve outcomes in minutes and yield more accurate diagnoses in less time. Among the most interesting products to watch:
Rapid Diagnostics' five business units – toxicology, cardiometabolic and informatics, infectious diseases in emerging markets and infectious diseases in developed markets and consumer services and products – build around Abbott's legacy Point of Care business and leading i-STAT testing platform. Combined, this full spectrum of testing offerings can provide a one-stop shop for healthcare professionals around the world.
What's next for Rapid Diagnostics is expanding its traditionally strong markets such as hospitals and clinics, as well as taking these offerings to untapped markets such as wellness centers, retailers and direct to consumers. This push along with continued development of established markets such as hospitals and labs accompanies a strong push to enhance customer service.
"Near-patient testing is exceptionally promising for diagnostics because of its speed, accuracy and ease of use, and because these experiences are close to our customers we need to deliver perfect service," Bracken said. "We're laser-focused on ensuring quality from when health professionals order our tests to how they're used, and making those transactions seamless will always drive continuous improvement for our customer experience."
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