Periodic Reporting for period 1 - POC products (A novel microfluid-based modular system to address POC challenges within the field of coagulationand hemostasis)
Reporting period: 2015-07-01 to 2015-12-31
The company’s Core Technology comprises means for chip (test strip) manufacturing, based in micro engineering and microfabrication processes, which allow massive production combining high quality with significant cost efficiency. An enriched know-how by the new modular design of the whole system makes it possible to extend the diagnostic range of the POC devices to the new anticoagulation therapies now reached, if available, only by multistep reactions run in centralized labs.
Numerous studies predict that in 2017 the market for POC devices will reach $ 160 Billion representing 16% of in vitro diagnostic. The project objective is to reach different central laboratory hemostasis test market niches by offering of a POC device test in its place. iLine Microsystems focuses on this business opportunity as this market has not yet begun to take off.
The decentralized POC diagnostic addresses the urgent need to lower the increasing cost of centralized patient management due to the aging population in the developed countries. By limiting the amount of hemorrhagic incidents, the POC solution will contribute to diminish the overall cost of NOACs-related complications and care.