Albany, NY -- (SBWIRE) -- 04/12/2021 -- Point-of-Care Infectious Disease Testing Market: Introduction
Rapid access to pathology test results is critical to high quality and efficient modern healthcare. Advantages of rapid access to test results have been demonstrated in relation to patient length of stay in emergency departments and timeliness of access to information is critical for patient care decisions – such as for therapeutic drug monitoring and patient flow decisions.
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Increase in demand for emergency departments and inpatient beds, together with workforce shortages, consumer demand, and technological advances, has seen a significant increase in the utilization of point-of-care devices. Furthermore, rise in number cases of infectious diseases has boosted the advancements in point of care instruments sector, thereby driving the market.
Key Drivers and Restraints of Global Point-of-Care Infectious Disease Testing Market
Rise in prevalence of infectious diseases across the globe fuels the market growth. Several viruses have been identified as etiologic agents responsible for acute respiratory tract infection which include infection due to Coronaviridae (HCoV-229E, HCoV-OC43, HCoV-NL63, HCoV-HKU1, SARS-CoV, and HCoV-EMC), Orthomyxoviridae (Influenza A, B, and C), and Adenoviridae (human adenovirus A to G). In an economic modeling analysis, the average annual burden of seasonal influenza among adults aged 18 to 49 years without medical conditions that confer a higher risk for influenza complications was estimated to include approximately 5.2 million illnesses, 2.4 million outpatient visits, and 31,800 hospitalizations.
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The emerging market players other than established firms are occupied in manufacturing significant number of new and innovative products and solutions, thus, fueling growth of the point-of-care infectious disease testing market.
However, product recall; pricing pressure, owing to reimbursement cuts and budget constraints; and stringent & time-consuming approval policies may hamper the growth of the market
HIV Testing Products to Dominate Global Point-of-Care Infectious Disease Testing Market
Based on products, the global point-of-care infectious disease testing market can be divided into influenza testing products, HIV testing products, hepatitis C testing products, sexually transmitted disease testing products, respiratory infection testing products, tropical disease testing products, and other infectious disease testing products.
Human immunodeficiency virus (HIV) POC testing generated large revenue in 2019. As per the Centers for Disease Control and Prevention (CDC), globally, about 1.7 million new cases of HIV were reported in 2018. About 37.9 million people were living with HIV across the world in 2018. An estimated 770,000 people died from AIDS-related illnesses in 2018. An estimated 35 million people have died from AIDS-related illnesses since the start of the widespread occurrence of diseases.
However, demand for point-of-care testing in influenza is expected to grow rapidly as influenza outbreaks and epidemics pose ongoing risks to global human public health. The WHO recommends the use of rapid testing for influenza diagnosis.
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Lateral Flow Assays to Dominate Global Point-of-Care Infectious Disease Testing Market
Based on techniques, the global point-of-care infectious disease testing market can be divided into lateral flow assays, plasmonics technology, microfluidics, molecular diagnostics, and immunoassays
Lateral flow assays dominated the point-of-care infectious disease testing market in 2019 due to increasing adoption of lateral flow assays in POC testing as a replacement for lengthy, conventional laboratory procedures. Rapid, low-cost, compact, and portable nature of lateral flow technology is lowering some of these barriers such as cost of diagnosis and treatment, large time consumption etc. Alpha Laboratories offers many lateral flow testing kits for Helicobacter pylori, Cryptococcus, Sona Coccidioides Antibody, and Aspergillus Galactomannan infectious disease testing.
However, as microfluidics can provide a fully integrated POC device for sample processing, fluid handling, and signal generation, this segment is expected to grow at a rapid CAGR during the forecast period.
Clinics Segment Witness Highest Growth
Based on end-user, the global point-of-care infectious disease testing market can be divided into hospitals, clinics home care settings, research laboratories, and others
In 2019, the clinics segment dominated the point-of-care infectious disease testing market in terms of highest revenue generation and is anticipated to continue leading the market over the forecast period. This is due to extensive use of technologically-advanced medical devices to offer the point-of-care (PoC).
Molecular test can be implemented in an outpatient clinic and successfully allows POC usage. The Xpert MTB/RIF test based on GeneXpert technology (Cepheid Inc.) is one such technology that can potentially be implemented in TB clinic settings and peripheral laboratories.
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North America to Lead Global Point-of-Care Infectious Disease Testing Market
In terms of region, the global point-of-care infectious disease testing market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
In terms of revenue, North America dominated the point-of-care infectious disease testing market, followed by Europe. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2020 to 2030, due to increasing R&D expenditure and merger & acquisition with big players coupled with rising number of diseases.
Increase in number of diseases along with technological advancement and increasing number of product approvals in North America boost the growth of the market. As per a report published by CDC on April 7, 2020, due to COVID-19 infection, more than 374,329 Americans are affected.
Key Manufacturers Operating in Market
The global point-of-care infectious disease testing market was highly fragmented in 2018. Key manufacturers operating in the global market are:
Abbott
Bio-Rad Laboratories, Inc.
Quest Diagnostics Inc.
Thermo Fisher Scientific, Inc.
Hoffmann-La Roche Ltd
Danaher
Siemens Healthineers
Sight Diagnostics Ltd
bioMérieux SA
Cardinal Health
Trinity Biotech
Ortho Clinical Diagnostics
Gene POC
Becton Dickinson Company
Trivitron Healthcare
Chembio Diagnostics Systems, Inc.
OJ-Bio Ltd
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