Frost & Sullivan Lauds Epinex Diagnostics' Monthly G1A™ Test as a Superior Alternative to the Existing Diabetes Management Paradigm
The product's potential for a high price-performance value offers the possibility for it become the new standard in diabetes screening, diagnosis and monitoring
MOUNTAIN VIEW, Calif., Oct. 20, 2015 /PRNewswire/ -- Based on its recent analysis of the diabetes point-of-care (POC) diagnostics market, Frost & Sullivan recognizes Epinex Diagnostics with the 2014 Global Frost & Sullivan Award for New Product Innovation. The company's G1A™ rapid test for glycated albumin has initially the potential to bridge the gap between daily self-monitored blood glucose (SMBG) and quarterly glycated hemoglobin (HbA1c) testing. It could offer patients a better diabetes management tool that directly measures damage (glycation) on a monthly basis. Clinical laboratory-based glycated albumin testing has already demonstrated that it can provide therapeutic feedback faster and more consistently than HbA1c, without the inconvenience, cost and stress associated with SMBG. The G1A™ test will provide the accessibility, convenience and cost savings of a rapid test format.
"Equipped with these capabilities, the G1A™ test has the potential to displace approximately $3 billion of the type 2 diabetes glucose test strip market," said Frost & Sullivan Research Analyst Divyaa Ravishankar. "Although Epinex Diagnostics has not yet fully gone through the regulatory process, the G1A™ test has already raised strong interest in the diabetes community."
The G1A™ test, if administered at $25 to $30 per month, could save $75 to $100 per patient per month in the cost of SMBG test strips. Moreover, with specific reimbursement codes already in place, insurance providers are likely to offer coverage for the test. The test could thus save billions of dollars in healthcare expenditures and cause a paradigm shift in the way diabetes is screened, diagnosed and monitored.
Additionally, monthly glycation monitoring using the G1A™ test may greatly improve diabetics' quality of life. The test has the opportunity to become the accepted standard of care in the diabetes market, with its ability to improve the situation for up to 95 percent (type 2) of the global diabetic population, shifting medical practice away from conventional disease management to preventative care.
"It is Epinex Diagnostics' use of immunoassay technology in lateral flow format that has yielded this novel, rapid, quantitative test within a proven, reliable configuration," noted Ravishankar. "The company's G1A™ test will employ a simple dual-channel cassette inserted into a proprietary reader device. All this will ensure that the test is easy to use, requires no training, and has the same sensitivity and specificity as a standard laboratory test."
The G1A™ test will be introduced in two models: a POC test for physician office laboratories, physicians and health clinics, and an over-the-counter model for direct sales to consumers through pharmacies for in-home testing. As the company with the only patented rapid test for glycated albumin, Epinex Diagnostics is poised to become a major player in the diabetes market.
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, increases customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Epinex Diagnostics
Epinex Diagnostics is a private medical device company that develops innovative point-of-care diagnostic tests for patients and doctors. The Company specializes in rapid tests that target major deficiencies in the existing healthcare market. Epinex' flagship product is the G1A™ Diabetes Monitoring Index Test, a patented rapid test for monthly diabetes monitoring with the potential to become a diagnostic tool. Please visit http://www.epinex.com for more information on the company.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Contact:
Mireya Espinoza
P: 210. 247.3870
F: 210.348.1003
E: [email protected]
David Trasoff
Director of Communications
Epinex Diagnostics, Inc.
14351 Myford Road, Unit J
Tustin, CA 92780
Tel: 949-660-7770
[email protected]
SOURCE Frost & Sullivan
Share this article