POINT OF CARE INFECTIOUS DISEASE DIAGNOSTICS MARKET ANALYSIS

Point Of Care Infectious Disease Diagnostics MarketSize and Trends

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).

Figure 1. Global Point of Care Infectious Disease Diagnostics Market Share, by Technology (%) 2017 and 2025

Source: Coherent Market Insights Analysis (2017)

Advances in technology of point of care diagnostics is expected to support the growth of the point of care infectious disease diagnostics market

Advanced technologies used in point-of-care diagnostics such as lateral flow, agglutination assays, and solid phase 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 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.

Initiatives and funding from individual organizations for point-of-care infectious disease diagnostics is expected to boost the market growth over the forecast period

Various organizations and governments are focused on 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.