Point-of-Care Infectious Disease Diagnostics Market Expectations to Reach at 14.5% CAGR by 2025
Global Point of Care Infectious Disease Diagnostics Market – Insights
Point-of-care (POC) diagnostic testing allows patient diagnoses in the physician’s office, home, an ambulance, the field, or in the hospital. POC allows rapid and timely treatment to patient. Infectious diseases often need to be diagnosed early, as they can become fatal against immunity system. Various novel technologies are used in POC diagnostics such as lateral flow, agglutination assays, and solid phase that are integrated with innovative features such as portability of handheld devices. The U.S. Food & Drug Administration (FDA) is responsible for overseeing all the activities associated with marketing of point of care diagnostic products. Along with U.S. FDA, the Clinical Laboratory Improvement Amendments (CLIA) also regulates these products. Point of care tests are efficient and save time and costs due to various benefits provided by it such as preventing sample spillage, no necessity of skilled professionals, as the tests can be performed easily, and low costs. Some of the commercially available point of care diagnostics include CoaguChek Pro II, Uni-Gold HIV, Accu-Chek Aviva meter, Alere I Influenza A & B, OneTouch Verio Flex, and ICON SC Strep A.
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Market Dynamics- Drivers
Advances in technology of point of care diagnostics is expected to support the growth of the point of care infectious disease diagnostics market
Introduction of advanced technology in point of care diagnostics is expected to drive growth of the global point-of-care (POC) infectious disease diagnostics market during the forecast period. Centralized laboratory testing is the gold standard and has established in biochemistry, hematology, and diagnostics. Moreover, POC offers various advantages such as ease of use in remote areas, technological advancements, and lowered price points. Small handheld point-of-care devices are portable and can be used by patients themselves. These tests use fingerstick or capillary samples, which are directly applied to instrument and avoid need of sample containers. Technologies such as lateral flow, various molecular assays integrated with point-of-care have changed the outlook of point-of-care diagnostics. For instance, products offered by leading manufacturers such as Alere and Roche are immunoassays, which are cost-effective and provide rapid results. Furthermore, in 2014, Becton, Dickinson, and Company offered point-of-care system BD FACSPresto for HIV/AIDS. It offers percentage results of CD4 T lymphocytes and hemoglobin concentration. Moreover, Infectious Disease Research Institute (IDRI) developed a fusion antigen in January 2017, which is used as a part of diagnostic test manufactured by InBios International, Inc. for Chagas disease.
The global point of care infectious disease diagnostics market was valued at US$ 1,764.6 million in 2016 and is expected to witness a robust CAGR of 14.5% over the forecast period (2017 – 2025).
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Figure 1. Global Point of Care Infectious Disease Diagnostics Market Share, by Technology (%) 2017 and 2025
Source: Coherent Market Insights Analysis (2017)
MArket Initiatives and funding from individual organizations for point-of-care infectious disease diagnostics is expected to boost the market growth over the forecast period
Key organizations and governmental institutes are involved in research and development for infectious diseases to provide effective diagnostic and treatment options. For instance, QuantuMDx Group received funding from Bill & Melinda Gates Foundation to develop and test company’s CAPTURE-XT pathogen concentration technology and Q-POC molecular diagnostic platform for rapid low cost detection of tuberculosis in 2016. In January 2018, University of Glasgow-led project received US$ 1.85 million funding, which is a part of Global Challenges Research Fund (GCRF). This project will develop new tests for parasitic diseases and point-of-care testing in remote locations to help enable rapid diagnosis, and rapid treatment.
Market Dynamics- Restraints
However, drawbacks regarding point-of-care testing such as specific steps and timing and different methodologies than laboratory testing, which may provide difference in the test results from laboratory testing is expected to restrain growth of the global point-of-care (POC) infectious disease diagnostic market over the forecast period. Moreover, in remote locations proper inventory system must be planned before to prevent deterioration, lack of stock, and shelf life issues which may further hinder growth of the market.
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Key Takeaways of the Point of Care Infectious Disease Diagnostics Market:
- The global point of care infectious disease diagnostics market is expected to exhibit a CAGR of 14.5% over the forecast period (2017 – 2025), owing to product launches by the key players such as Alere, Inc., and rising demand for rapid diagnostic tests
- Hospital associated infections (HAIs) is expected to exhibit strong growth and is expected to generate maximum revenue over the forecast period
- Hospitals end user segment is expected to generate maximum revenue over the forecast period due to high prevalence of hospital acquired infections, wherein, these test could be useful at the point of care along
- Asia Pacific is expected to witness staggering growth over the forecast period, owing to large customer base and high prevalence of infectious diseases such as malaria and tuberculosis
- Major players operating in the point of care infectious disease diagnostics market include Danaher Corporation, Abbott Laboratories, Acon Laboratories, Inc., Hoffman-La Roche Ltd., Becton, Dickinson, and Company, Trinity Biotech Plc, AccuBioTech Co., Ltd. and Cardinal Health, Inc.
- Global Point of Care Infectious Disease Diagnostics Market, By Technology:
- Lateral Flow
- Agglutination Assays
- Solid Phase
- Global Point of Care Infectious Disease Diagnostics Market, By Application:
- Tropical Disease
- Liver Disease
- Inflammatory Disease
- Respiratory Disease
- Hospital Associated Infections (HAIs)
- Sexual Health Disorders
- Global Point of Care Infectious Disease Diagnostics Market, By End User:
- Diagnostic Laboratories
- Home-Care Settings
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