Take the following with a grain of salt AI is a hit and miss.
The FebriDx bacterial infections test, recently cleared by the FDA in July 2023, holds promise for impacting the US market in the diagnosis and management of acute respiratory infections (ARIs).
Here's what we know about the potential market size Drivers of demand:High burden of ARIs: In the US, ARIs are the most common reason for antibiotic prescriptions, with an estimated 211 million prescriptions issued in 2021. However, up to 40% of these are considered unnecessary due to the predominantly viral nature of ARIs.Antibiotic overuse and resistance: Inappropriate antibiotic use is a major concern, contributing to the rise of antibiotic-resistant bacteria. FebriDx offers a tool for clinicians to make informed decisions about antibiotic use by differentiating bacterial from viral infections at the point of care.Improved patient outcomes: Accurate diagnosis can lead to faster treatment initiation for bacterial infections and avoid unnecessary antibiotics for viral cases, potentially improving patient outcomes and reducing healthcare costs.Market size estimates:Studies suggest FebriDx could capture a significant portion of the ARI diagnostic market, projected to reach $2.8 billion by 2027 in the US.Lumos Diagnostics, the developer of FebriDx, estimates the potential US market for the test to be around 10 million tests per year, generating over $100 million in annual revenue.
Current stage and uncertainties:FebriDx is still relatively new in the US market, with its full impact yet to be seen.Adoption will depend on various factors, including clinician awareness, reimbursement policies, and integration into existing workflow.Lumos Diagnostics' marketing and sales efforts will play a crucial role in market penetration.Overall, the FebriDx bacterial infections test has the potential to significantly impact the US market by addressing the issue of antibiotic overuse and improving patient care for ARIs. Its market size is expected to grow in the coming years as awareness and adoption increase.
