Changing healthcare realm is leading to the development of services which are focused toward convenience of the patient. Various market players are indulged in creating innovative diagnostics kits and instruments to provide accurate results in no time thereby creating potential opportunities.
Increasing penetration of patient-centric healthcare services is expected to result growth in diagnostics market. The major factors responsible are increasing M&A activities, collaborations, R&D investments, and suitable administration support.
Various progressions in techniques such as advancements in genome amplification and sensitive PCR methods has promoted the discovery of several novel pathogen detection platforms and hence, fasten the development in mobile testing devices market.
Latest trends in healthcare settings
Rapidly changing market, demographic shifts, development of better diagnostics solutions are major factors contributing in movement of healthcare landscape towards digitization. Increasing access to new medicines and various tests in developed regions is a key for sustainable growth of the diagnostics companies.
Other than partnerships with existing diagnostics players, companies are also working with administration on training lab technicians & community healthcare workers, disease awareness campaigns, and giving flexible pricing to support reimbursement decisions.
The companies are working on advancing diagnostics technology for providing patients with accurate, precise and holistic diagnosis & treatment solutions to enhance the scope of point of care testing instruments.
Private entities are also collaborating with insurance companies to increase patients access to latest diagnostics via private funding solutions in Asia Pacific or regions with inadequate healthcare facilities.
Emerging players in point-of-care testing devices
Escalating rates of infectious disorders and increasing demand for rapid testing devices are encouraging more startups in the space of portable testing market. These startups are developing cost effective and innovative alternatives to traditional laboratory testing which can deliver results in few minutes.
For instance, Diassess Inc, a developing biotechnology firm is getting support from National Institute of Health (NIH) to develop new point of care devices for detection of infections caused by chlamydia.
Moreover, MeMed, a diagnostic solution provider, is developing ImmunoPoC, a point of care device which can be used to accurately differentiate viral infections from bacterial infections in patients for rapid and informed decisions regarding antibiotic treatment.
Established and emerging market players are entering into strategic alliances with non-profit organizations and academic institutions to initiate innovation. For instance, SignalGeneriX, an innovative product development service provider works in partnership with various other private companies, research institutions, hospitals, and academic organizations. It is actively participating in a project “PoC-ID” to develop new micro or nano -electronic based sensors and integration concepts for the diagnosis of infections from respiratory syncytial virus (RSV).
In-depth report on global point-of-care infectious disease diagnostics testing market by Grand View Research:
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