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

07-29-2021 04:20 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Point-of-Care (POC) Infectious Disease Diagnostics Market

Point-of-Care (POC) Infectious Disease Diagnostics Market

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.

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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.

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

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Coherent Market Insights
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About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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