The infectious diseases point-of-care testing (POCT) market is projected to grow at a compound annual growth rate of 7.7%, from $696.1m in 2015 to more than $1.17bn by 2022, according to a report by GlobalData.
Titled “MediPoint: Infectious Disease Point of Care Testing – Global Analysis and Market Forecasts”, the report projects this strong growth to be across 10 major markets including the US, France, Germany, Italy, Spain, the UK, Japan, China, India and Brazil.
Major factors contributing to growth include a rise in incidences of infectious diseases, availability of more accurate point-of-care (POC) technologies and the growth of home-testing market, which are encouraging the adoption of POC devices.
Infectious diseases are a major cause of mortality globally with an estimated 14 million deaths occurring a year, according to the Clinical Microbiology and Infection journal. Demand for cost-effective diagnostic techniques such as POCT is, therefore, anticipated to increase with rise in prevalence of infectious diseases.
Focus is also shifting towards preventive care and early diagnosis of infectious diseases. POC technology will be effective in early disease diagnosis and help in reducing healthcare cost, opines Wenlu Hu, Analyst at GlobalData. The main hurdle to the acceptance of POCT is their low accuracy. The accuracy of existing lateral flow POC technologies is inferior to that of nucleic acid testing methods used by central labs.
Recent innovations, however, have supported the use of POC molecular diagnostics, Wenlu Hu adds. Some of these advancements include the loop-mediated isothermal amplification (LAMP) and the amplified redox assay.