Increasing Prevalence of Infectious Diseases to Augment the Point-of-Care (POC) Infectious Disease Diagnostics Market Growth

Point-of-Care (POC) Infectious Disease Diagnostics


 Point-of-care (POC) diagnosis includes sample testing to facilitate rapid diagnosis and decide on treatment planning accordingly. Infectious diseases often need to be diagnosed early, as they can be fatal against the immune system. POC infectious disease diagnostics allows early detection of diseases and can impact the medical outcome of treatment of the disease.

The U.S. FDA (United States Food and Drug Administration) is responsible for overseeing all activities related to the marketing of diagnostic products. POC diagnosis is cost-efficient and time saving, as well as offer various benefits such as can be performed easily, prevent sample spillage, no necessity of skilled professionals, etc.

Market Dynamics:

The emergence of COVID-19 (SARS-CoV-2) is expected to propel the growth of the point-of-care (POC) infectious disease diagnostics market. For instance, in February 2021, RNA Disease Diagnostics secured an exclusive global license to a cutting-edge sensor technology jointly owned by the University of Maryland, Baltimore County (UMBC) and the University of Maryland, Baltimore (UMB). RNA Disease Diagnostics’ first product will be a rapid point-of-care (POC) COVID-19 test with accuracy, sensitivity, and specificity that is comparable to the gold standard RT-PCR lab diagnostic.

Moreover, initiatives and funding from government and individual organizations for point-of-care (POC) infectious disease diagnostics are expected to augment the growth of the point-of-care (POC) infectious disease diagnostics market. For instance, in February 2021, Visby Medical secured US$ 12.3 million from the United States Biomedical Advanced Research and Development Authority to develop a next generation device to detect influenza and COVID-19 in a single point-of-care rapid PCR test and, subsequently, as an over-the-counter test for consumer use.

Increasing prevalence of infectious diseases in both developed and developing countries and increasing incidence of target conditions is also expected to fuel the growth of the point-of-care (POC) infectious disease diagnostics market. However, stringent and time-consuming regulatory policies and pricing pressure due to reimbursement cuts and budget constraints are expected to restrain the market growth.

Competitive Analysis:

Major players operating in the point-of-care (POC) infectious disease diagnostics market are Cardinal Health, Inc., AccuBioTech Co., Ltd., Trinity Biotech Plc., Thermo Fisher Scientific, Becton, Dickinson, and Company, Hoffman-La Roche Ltd., Alcon Laboratories, Inc., Abbott Laboratories, and Danaher Corporation.

Major players in the market are adopting various strategies, such as merger, acquisition, and collaboration, to enhance their market presence. For instance, in January 2021, Thermo Fisher Scientific announced a definitive agreement to acquire molecular diagnostics company Mesa Biotech for approximately US$ 450 million.

In September 2019, Abbott Laboratories and Sanofi collaborated to integrate glucose sensing and insulin delivery technologies to further simplify diabetes management.

Comments

Post a Comment

Popular posts from this blog

Bourbon Whiskey Is the Most Popular Whiskey in America and In Many Other Countries around the World

Image
  Whiskey or single malt whiskey is simply a form of distilled beverage made by distilling alcohol from grain mash or even by blending both. Different grains are utilized for different types, such as corn, barley, rye, and wheat. In Scotland, they call their whiskey black tea, a lighter caramel scotch, Irish cream, and liqueur. Whichever form is utilized, the result is usually a flavorful and smooth drink that has a distinct taste, and many people prefer a whiskey with a lower alcohol content. For example, single malt whiskey is the least expensive. The highest price however is the least distilled; that is Bourbon whiskey. Bourbon whiskey is the most popular whiskey in America and in many other countries around the world. Its price range is very wide, starting from as low as about US$ 12 a bottle to over a hundred dollars. So the price definitely varies. Whichever class you belong to, there is always a whiskey that will suit your preference. Single malt scotch whiskey is made ...
Read more

Viral Vectors And Plasmid DNA Manufacturing Market Is Gaining Major Traction With Oxford Biomedica Plc Entering Into A 3-Year Agreement With Boehringer Ingelheim For The Manufacture And Supply Of Various Types Of Viral Vectors

Image
  Viral Vectors are proteins that have been discovered to be essential for the spread of various viruses and infectious agents. These proteins can cause serious health risks if they are improperly introduced or if a wrong agent is used to fight them off. Viral vectors have often been used in various gene therapy procedures with the ultimate objective of curing various ailments in the biological fields of neurology, gene therapy, cancer, and metabolic disorder. Clinical studies regarding viral vectors remain one of the key factors in the manufacturing of viral vectors. Plasmids are used to deliver DNA contain genes for antibiotic resistance. In fact, scientists have developed many uses of plasmids and created software to record the DNA sequences of plasmids for applications in various techniques. Thus, such continuous R&D activities can potentially stimulate growth of the viral vectors and plasmid DNA manufacturing market . Recently, in April 2021, Oxford Biomedica plc entered...
Read more

Hard Surface Flooring Market Is Expected To Witness Robust Growth As Mohawk Industries Introduces Newly Imagined 30,000-Square Foot Floor Space At The International Surface Event (TISE)

Image
  There are many reasons why people choose hard surface floors over other types of flooring. Hard surfaces offer a level of durability and are very aesthetically pleasing. Unfortunately, choosing this type of flooring can be confusing and costly. There are four main hard surface varieties namely vinyl plank, laminate, solid hardwood, and engineered wood. Each has their own style strengths and provide different advantages. Increasing population coupled with rapid urbanization is expected to drive growth of the global hard surface flooring market . According to the United Nations (UN), by 2050, around 68% of the global population is expected to live in urban areas, increasing from 55% in 2018. According to the same source, in 2018, around 4.2 billion people were living in urban areas, increasing from 751 million in 1950. Furthermore, according to the World Bank, in 2019, the global population reached 7.674 billion, increasing from 6.84 billion in 2009. As a result of this, building...
Read more