PoC Platform & Technology Market - Industry Size, Share, Insights, & Forecast 2018-2026

POC Platform & Technology Market– Early Detection, Proactive Intervention By Leading Players: Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories

Increase in the prevalence of infectious diseases such as HIV, hepatitis, and vector borne diseases coupled with increasing awareness leading to early diagnosis of cancer and autoimmune diseases is a major factor propelling growth of POC platform & technology market. Moreover, the increasing usage of home-based point-of-care diagnosis has also significantly reduced the incidence of sexually transmitted diseases (STDs), as these tests provide quick detection of biomarkers leading to early diagnosis of diseases. These diseases, if treated at early stages can extend the life expectancy and can also completely cure the patients in few cases.

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According to the Centers of Disease Control and Prevention (CDC), in 2016, rapid home-based diagnostic tests that include point-of-care immunoassay and test strips as well as general awareness have collectively resulted in reducing the number of annual infections caused due to HIV by 10% from 2010 to 2014 and by 5% from 2011 to 2015. The increasing R&D activities by the organizations also aids in market growth. For instance, the Bill & Melinda Gates Foundation supported the development of Alere Malaria Ag Plasmodium falciparum HRP2 ELISA.

The increasing shortage of skilled healthcare workers is leading to demand for accurate, intuitive tests that can be operated by less skilled professionals and patients using home based devices for better patient outcomes. According to the World Health Organization (WHO), the global healthcare sector was facing a shortage of 7.2 million healthcare personnel in 2013 and is expected to face a shortage of 12.9 million by 2035, specializing in various sectors. Portability is one of the major factors facilitated by the recent point-of-care testing devices, wherein these devices offers the same results in less time making it more hassle free and feasible for the operators to use them.

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In February 2018, Mesa Biotech Inc. received FDA 510 (k) clearance Clinical Laboratory Improvements Amendments (CLIA) waiver for its Accula Flu A / Flu B test with PCR testing to the POC providing a qualitative result in approximately 30 minutes to guide same day treatment decisions. The manufacturers and researchers are also developing advanced systems such as real-time biosensors to provide instant insights about health status, thereby providing significant opportunities for improving personalized care. For instance, in 2016, VitalConnect, Inc. launched FDA approved Vital Connect platform to achieve better health and economic outcome. The platform includes HealthPatch MD biosensor and the single-use VitalPatch biosensor.

Furthermore, in October 2017, researchers from the University of Illinois at Urbana-Champaign and the University of Washington at Tacoma developed a lab-on-chip device, which offers easy detection of infectious diseases by attaching the chip to the smartphone that acts as a detector.in March 2015, the company had collaborated with the Helvoet in order to provide enhanced injection molded microfluidic parts, as they are steadily gaining popularity in the health care market, majorly in point-of-care diagnostics. Furthermore, in 2016, Abbott Laboratories acquired Alere Inc., a manufacturer of rapid point-of-care diagnostic tests to add test products for influenza, heart attacks, and drug abuse to Abbott’s suite of products for testing genetic mutations and to boost diagnostics sales of the company.

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Major players operating in the global POC platform & technology market include Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Siemens Healthineers, and LifeScan, Inc.

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