Healthcare & Medical Devices

HLA typing for transplant market to witness a double-digit growth rate over 2017-2024, sequencing based molecular assays to augment the industry expansion

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Amidst the currently expansive healthcare space, encompassing numerous verticals, HLA typing for transplant market has profoundly inked a rather progressive growth path, subject to the escalating requirement of organ transplantation which includes both cellular and humoral immune responses. As per clinical research, at least 6 HLA (Human Leukocyte Antigens) of the donor need to be matched with the organ receiver, since the success of stem cell transplantation is mainly dependent on the accuracy level of HLA matching among donors and receivers – higher the accuracy, lesser the complication risk. Having identified this potential factor and considered the benefits of human leukocyte antigens typing for transplants, many of the research institutes and diagnostics centers have been deploying this technique on large scale, thereby providing a positive impetus to HLA typing for transplant industry. It is prudent to state that the increasing use of advanced technologies across various healthcare facilities will help to identify and correlate the best possible transplant outcomes, further spurring HLA typing for transplant industry trends. Indeed, the growing acceptance of next-generation sequencing for organ transplantation will be one of the pivotal driving forces of HLA typing for transplant market size in the ensuing years.

U.S. HLA Typing for Transplant Market size, By Technology, 2013-2024 (USD Million)
U.S. HLA Typing for Transplant Market size, By Technology, 2013-2024 (USD Million)

At present, HLA typing for transplant industry is characterized by many research organizations and technology companies developing countable numbers of transplantation techniques and medicinal kits. In 2017 for instance, the Australian molecular diagnostic company, TBG Biotechnology, received the approval for its HLA genotyping kits for HCT (hematopoietic cell transplantation) from the China Food and Drug Administration (CFDA). After the approval, TBG apparently even collaborated with hematopoietic cell transplantation service providers and laboratory distributors, expanding the scope of HLA typing for transplant market. As per estimates, China is one of the largest consumers of allogeneic HCT market, therefore, increasing the rate of approval for HLA typing laboratories from CFDA is undeniably bound to stimulate China HLA typing transplant industry outlook.

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In order to augment the revenue graph of HLA typing in transplant industry, renowned players have been focusing on technology development, discovery, and commercialization of high-value diagnostic methodologies for organ transplantation, on the grounds of which, companies are adopting advanced software-based technologies. For instance, last year, CareDx, Inc. acquired Assign™ SBT analysis software and Conexio SBT Resolver™ from Illumina, Inc. for improving high-resolution HLA typing. This technology apparently, has set a new benchmark ahead of several other biggies in HLA typing for transplant market with product innovation and high-quality HLA (Human Leukocyte Antigens) typing. This acquisition also helped CareDx to build its transplant business through the launch of new products and the commercialization of its existing portfolio. With firms such as CareDx and Illumina signing deals related to transplantation technology, next-generation sequencing system based HLA typing has gained remarkable momentum in recent years. In fact, after evaluating HLA typing results associated with next-generation sequencing based, one of the leading giants in NGS HLA typing transplantation and sequencing-based typing, based in Netherlands, GenDx signed an agreement with one of the well-known behemoths in HLA typing for transplant market, Thermo Fisher Scientific, to provide Ion PGM and NGSengine software to customers. The aforementioned detail validates that heavy investments in R&D activities to enhance existing technology will indeed fuel HLA typing for transplant industry share.

Organ transplant methods have indeed aided millions of patients, however, in order to increase the availability of organs, most giants in HLA typing for transplant market have been making heavy investments to research on more accurate and precise methodologies that would further promote the acceptance of transplantation technique across the globe. In consequence, this would have a profound impact on the revenue graph of HLA typing for transplant industry, slated to register a CAGR of 10% over 2017-2024.

Author Name : Sunil Hebbalkar

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Non-invasive neonatal ventilators market to depict high growth prospects over 2017-2024, fuelled by their massive deployment in emerging economies

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The last half a decade has witnessed a major ascent in the number of preterm birth incidences, which has led to neonatal ventilators market carving out a positive growth path. Despite high-grade medical intervention, there has been an increase in the number of respiratory problems in infants and the rate of infant mortality, which has undeniably contributed toward the growth of neonatal ventilators industry. According to statistics provided by WHO in 2016, roughly 4.2 million children died globally before the completion of the first year of their lives. The occurrence of deaths was highest in the WHO African region which was almost 6 times higher than the WHO European region, indicating that infants in developing countries receive lesser medical attention than those in the developed ones. In response, hospitals, clinics, and medical research institutes have been coming forth to devise proper infant care equipment, a trend that will boost neonatal ventilators industry size.

U.S. Neonatal Ventilators Market size, By Product, 2013-2024 (USD Million)
U.S. Neonatal Ventilators Market size, By Product, 2013-2024 (USD Million)

A succinct outline of the product spectrum of neonatal ventilators market

Neonates, as a matter of fact, are delicate beings, and their tiny size further adds to the challenge of how ventilation could be used for supporting their respiration process, thus expanding the scope of neonatal ventilators market. Subject to the prevalence of incredible research and development programs, in tandem with numerous technological developments that are regularly upgraded, neonatal ventilators industry has indeed been observing remarkable momentum. As per research, invasive or mechanical ventilators have exhibited a much greater rate of success than non-invasive ones. However, invasive neonatal ventilators market is more established in developed countries while in regions lacking in medical resources and advanced healthcare, continuous positive airway pressure (CPAP) and other non-invasive neonatal ventilators have observed greater sales. In consequence, this has had a commendable impact on the commercialization potential of non-invasive based neonatal ventilators market share from the emerging economies.

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Speaking of mechanical ventilation, it has been observed that subjecting tiny preterm babies or even normal infants to the process of invasive ventilation can often turn out to be challenging due to their size and difference of organ behaviour between babies and adults. Also, research bears testimony to the fact that invasive neonatal ventilators can cause severe side effects that can last a lifetime. On the contrary, non-invasive ventilators have no such side-effects and when administered on time by medically trained professionals, it has proven to be as effective as the mechanical ventilators, which has further stimulated the sales graph of non-invasive based neonatal ventilators industry. Studies indicate that while invasive neonatal ventilators industry will capture mainstream prominence in developed countries, the non-invasive business space will witness a 6% CAGR over 2017-2024, driven by extensive product adoption in developing countries.

The United States, as on today, is one of the most developed hubs of neonatal ventilators market, driven by the nation’s accelerated R&D programs and sophisticated healthcare infrastructure. Currently, the region holds the largest share of the overall neonatal ventilators market, however, pertaining to relatively low addressable needs, U.S. neonatal ventilators market size is slated to register a modest CAGR over 2017-2024.

Emerging economies like China and Brazil have been forecast to depict a rather impressive growth rate over the next six years, driven by numerous technological developments and the rapid modernization of neonatal healthcare facilities. In the last decade alone, China has witnessed a robust growth in the number of hospitals, while private clinics have apparently become popular in tier 1 cities in the country. Hospitals and clinics are lately becoming increasingly better equipped to handle neonatal emergencies – this validates that China neonatal ventilators industry share is also likely to witness massive growth from hospitals alone.

New research and development programs are continuously being undertaken by neonatal ventilators industry players such as Breas Medical, Medtronic Plc, CareFusion, Phillips Respironics, Smith Medical, Drager Medical, GE Healthcare among many others, that are delving into the depths of neonatal healthcare. With added encouragement from health organizations and governments the world over, the neonatal ventilators market size is estimated to be pegged at USD 430 million by 2024.

Author Name : Paroma Bhattacharya

Over-the-counter drugs market revenue to exceed USD 178 billion by 2024, driven by massive demand for health supplements and analgesics

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With well-informed consumers leaning toward self-medication and demanding cost reduction in healthcare, over-the-counter (OTC) drugs market outlook has been witnessing a dramatic transformation in the last few years. Since OTC drugs do not require a doctor’s visit or a known prescription, these drugs are quite cost and time effective. Many regulatory bodies across the globe that are responsible for deciding which drugs should be available over the counter and which should be sold only based on a prescription, are now shifting an increasing number of medicines from the prescription to over-the-counter segment. A study by CHPA in fact, had stated decades earlier, that this paradigm switch is likely to save close to USD 20 billion every year. The backdrop of cost-saving coupled with public demand has indeed propelled OTC drugs industry that is expected to depict a profitable growth path over 2017-2024.

U.S. OTC Drugs Market size, By Product, 2013-2024 (USD Billion)
U.S. OTC Drugs Market size, By Product, 2013-2024 (USD Billion)

Vitamins, minerals, and health supplements comprise an essential chunk of global OTC drugs market. Consumers in developed nations such as U.S., UK, Germany, and Japan who are more aware of the benefits of taking vitamins and minerals as supplements, have depicted a tendency to purchase such medicines and administer them without the requirement of a visit to the doctor. With changing lifestyle demands such as requirement for weight loss, increased hair growth, and more, many consumers have been increasingly depending on OTC drugs, which is likely to massively stimulate over-the-counter drugs market share. Apart from supplements though, cold, cough, and flu medication and analgesics constitute a major share of OTC drugs market. Like health supplements, these are also used by consumers without the requirement of prior advice from the doctor, owing to which OTC drugs market size from these segments has been exhibiting an exponential growth graph.

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The OTC drugs industry has been stimulated by intensive consumer demand for making certain drugs available to the public without the requirement of a prescription. For instance, lately it has been debated in the US that the birth control pill should be made available to consumers without the requirement of a prescription just like the condom. As instructions for safe usage of hormonal birth control pills are very clearly mentioned in every medication pack, it is being argued by many that women need not require a doctor’s prescription for the same. The FDA at present is in discussions regarding the same, and in the event of approval, the switching of birth control pills from the prescription to OTC category will provide a major stimulus to the OTC drugs market.

It is prudent to note that consumer demand also borders on the subject of making STI and chronic disease medication available over the counter. Numerous people afflicted with chronic diseases like diabetes and cancer are known to lead rather stressful lives. In consequence, it is being argued that if they would be able to acquire medication without requiring a visit to the doctor every time, it would decrease some of their stress. Many people apparently skip medication for STIs, solely on the premise of embarrassment or fear of judgement – deterrents that can be eradicated if STI medications are available without prescription. This circumstance has encouraged regulatory bodies to switch many medicines from prescription to OTC category, which has propelled U.S. OTC drugs market, which now boasts of more than 700 products.

The growing appetite for self-medication and healthcare cost curtailment has led to OTC drugs market expansion in major economies of the world. The U.S. with China and Japan accounted for nearly 50% of the OTC drugs industry share in 2016. The growth of the OTC drugs industry might slow down in the US due to market saturation, but is expected to increase with a phenomenal rate in China, owing to the growing geriatric population in the country. Europe OTC drugs market size is also expected to witness major expansion, driven by the fact that the governments of countries such as UK and Germany have been striving to decrease healthcare costs.

Regulatory bodies have been stringent about controlling the usage of certain drugs by keeping them confined to the prescription segment, as these drugs can be used for substance abuse. However, the growing demand from consumers about decreasing the restraints on drugs for chronic diseases and the rapidly increasing awareness regarding the correct usage of drugs will continue to stimulate OTC drugs industry. As per estimates, OTC drugs market size, which was pegged at USD 114 billion in 2016, is forecast to witness a CAGR of 5% between 2017 and 2024.

Author Name : Paroma Bhattacharya

Diagnostic Ultrasound Market to witness commendable returns over 2017-2024, technological advancements to symbolize the global industry trends

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Regarded as one of the most enterprising niche verticals of the healthcare and medical devices industry, diagnostic ultrasound market has garnered tremendous notability over the recent years, owing to a number of factors such as the rising geriatric population prone to orthopedic and chronic ailments, swift pace of technological advancements in medical imaging devices, and the growing inclination toward multiuse, versatile, and portable ultrasound systems. Furthermore, the ultrasound systems have increasingly found wide-ranging and crucial applications across various medical domains in detecting musculoskeletal and abdominal disorders, lowering maternal and fetal mortality, and in the treatment of cardiovascular diseases. Apparently, the aforementioned factors are bound to assist the global diagnostic ultrasound industry to attain mass prominence over the estimated timeframe. As per estimates, the overall diagnostic ultrasound market stood at an impressive USD 5 billion in 2016.

U.S. Diagnostic Ultrasound Market size, By Application, 2013-2024 (USD Million)
U.S. Diagnostic Ultrasound Market size, By Application, 2013-2024 (USD Million)

While interpreting the growth potential of diagnostic ultrasound industry in the forthcoming years, it would be prudent to take note of the extensive efforts being undertaken by prominent industry giants that have accentuated the pace of advancement in prevailing technologies and have swamped the diagnostic ultrasound industry with more viable and convenient products. Following is an overview of some noteworthy product launches by leading diagnostic ultrasound market giants:

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  • One of the most notable manufacturers of diagnostic ultrasound systems, Samsung Medison has recently unveiled RS85, the latest ultrasonic machine equipped with enhanced functions that primarily aims to cater large medical institutions. RS85 comes with progressive functions such as MV-Flow that aids in identifying lesions by displaying the blood flow in microvascular tissues, something which traditional Doppler ultrasound technique could not achieve. The machine also has S-Shearwave Imaging that utilizes transverse elasticity to gauge the elasticity of human tissues, eventually enhancing the accuracy of tumor diagnosis.
  • Hitachi Medical Systems Europe, a subsidiary of Hitachi Medical Corporation, has recently introduced its latest 2D/4D cardiovascular ultrasound system named as LISENDO 880. The premium vascular and cardiac imaging system offers state-of-the-art transducer technology along with an advanced OLED display, and a unique analysis package that ensures reliable cardiac hemodynamic evaluations. With these characteristics, LISENDO 880 is said to have shifted cardiac assessments to a new level. Launching of such highly innovative products is likely to encourage other industry players to focus on releasing enhanced products pertaining to cardiovascular imaging, which is estimated to have held a significant portion of the total diagnostic ultrasound industry share in the recent years.
  • Butterfly Network Inc, an upcoming diagnostic ultrasound market player has recently announced that it has received Food and Drug Administration’s (FDA) clearance for its ultrasound-on-a-chip technology, the Butterfly iQ. The FDA clearance is being termed as highly significant, given that it is the comprehensive clearance ever granted for a single ultrasound transducer encompassing 13 clinical applications. Reportedly, the pocket-sized transducer is being touted as the world’s first ultrasound-on-a-chip based imaging system which plugs into an iPhone. As per sources, the latest device amalgamates the capacities of three conventional ultrasound probes into a single 2D matrix cluster which is then overlaid on an integrated circuit, something which is found only in high-performance systems in the existing diagnostic ultrasound market.
  • Regarded as one of the foremost industry behemoths, GE Healthcare has recently inked a deal with DiA Imaging Analysis to develop automated imaging analysis technology that would use machine learning algorithms. The technology would provide real-time imaging and accurate analysis of ultrasound readings which would aid physicians in offering better patient care.

Elaborating further, the growing tendency of diagnostic ultrasound industry players to bring out automated imaging analysis tools in alliance with medical imaging software firms is expected to substantially impel the diagnostic ultrasound market size in the ensuing years, which as per estimates, will exceed a valuation of USD 7 billion by 2024.

Author NameSaif Ali Bepari

Medical bed market to collect substantial valuation pertaining to the escalating healthcare infrastructure development over 2017-2024

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The rising number of investments in healthcare facilities across the globe is likely to massively impel medical bed market. In order to provide advanced medical care to the patients, many regional and state governments are investing heavily in healthcare infrastructure development. For instance, the Australian state government has provided a funding of USD 470 million to construct a 195-bed Victorian Heart Hospital, which could be one of world’s leading healthcare facility centers for researchers and patients. Furthermore, the Medical University of South Carolina (MUSC) has approved the construction of a new 128-bed hospital project worth USD 325 million in the tri-county region. Through this development, the government plans to fulfill the increasing healthcare demands by providing high quality and consistent care to patients, thereby enhancing medical bed market share. Essentially, the significant involvement of private and government organizations in healthcare infrastructure development and capacity expansion will heavily augment medical bed industry share. Speaking of one more rather pivotal instance, the renowned healthcare service provider, Trident Health, currently is involved in six ongoing expansion projects. In fact, it has invested USD 75 million in the Summerville Medical Center and Trident Medical Center to expand its medical care facilities further. The aforementioned instances vividly demonstrate that the ongoing healthcare infrastructure expansion projects will stimulate medical bed market trends over the years ahead.

Germany Medical Bed Market, By Product, 2013 – 2024 (USD Million)
Germany Medical Bed Market, By Product, 2013 – 2024 (USD Million)

Apart from facility expansions, many of the giants in medical bed industry have been involving themselves in strategic mergers and acquisitions to capture more business space. For instance, Rowsley has recently signed a deal to acquire the Singapore based healthcare service provider, Thomson Medical for S$1.6 bn. Furthermore, it will also buy 70.36% shares in the Malaysian firm TMC Life Sciences. TMC Life Sciences apparently plans to establish the Tropicana Medical Center across Kota Damansara with three times more beds than its current capacity. In addition to this, TMCLS is looking forward to developing Thomson Iskandar Medical Hub comprising a 500-bed tertiary hospital in Johor Bahru. The precedence demonstrates the growing requirement of healthcare services along with changing demographics across South-East Asian region that would suitably boost medical bed market outlook.

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The increasing investment in infrastructure development in sync with the rising demand for medical beds across several states of America, in turn, is shedding a positive light on the regional medical bed industry share. For instance, the Ohio State University based in Columbus is planning to build new ambulatory center and hospital tower at Wexner Medical Center with an investment of more than USD 2 billion. The proposed new hospital tower will comprise of 840 beds with critical care units, emergency service units, and diagnosis & treatment service areas. Depending on the board’s approval, the hospital is expected to commence its operations by 2025, and contribute considerably toward the regional medical bed market development. Further on, the homeless shelter across the Eastern region of Iowa has also been demanding beds on a large scale, owing to the surging prevalence of chronic mental health problems in the region. The rising number of hospital admissions for effective diagnosis of chronic diseases including diabetes, respiratory disorders, cardiovascular diseases, and cancer is slated to propel medical bed industry size over the coming years.

Many of the developed and emerging economies have been taking initiatives to establish advanced healthcare facilities to provide most effective, economic, and safe care service to patients, which would contribute toward driving the revenue scale of medical bed market. For instance, recently, the health department of the Vietnam government unveiled the construction of a 550-bed general hospital across Sơn La province. Furthermore, three new city hospitals have been constructed across Qatar, deploying around 500 hospital beds. Given the ongoing trends of healthcare infrastructure development, it has been estimated that the overall medical bed market size will be pegged at USD 4 billion by the end of 2024.

Author Name :Sunil Hebbalkar

DR-based medical X-ray market to witness highest growth rate over 2017-2024, rising penetration of mobile systems to increase the product demand

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Shimadzu’s MX8 is a classic instance of what may be termed as ‘colossal innovations’ in medical X-ray market. Touted to be one of most progressive niche verticals of the healthcare and medical devices industry, medical X-ray industry has gained mass prominence in recent years, augmented by a plethora of factors along the likes of rising global geriatric populace prone to chronic diseases, growing advancements in medical imaging systems, and most importantly, the transformational shift from conventional X-ray devices to digital and mobile-based X-ray devices. Shimadzu’s recent innovation, undeniably, runs along the same lines. A pivotal subsidiary of Shimadzu Corporation, Shimadzu Medical Systems USA, has recently unveiled the next generation of MobileDaRt Evolution systems. Tentatively titled MX8, this next-gen device is a digital mobile X-ray system proudly encompassing Shimadzu’s first telescoping support column that would enable enhanced forward visibility and astounding drivability. MX8’s release aptly underlines the extensive efforts that medical X-ray industry players have been undertaking to improvise on current techniques and make them convenient and viable to be used in the future. Aided by highly innovative advancements such as the aforementioned, in tandem with the increased governmental funding for medical research and development activities and a rather favorable reimbursement scenario in the advanced economies, medical X-ray market share stood at an appreciable USD 9.9 billion in 2016.

U.S. Medical X-ray Market, By Product, 2016 (USD Million)
U.S. Medical X-ray Market, By Product, 2016 (USD Million)

Medical X-ray market trends from direct (digital) radiography technology

Once regarded a figment of scientific imagination, digital radiography technology, as on today, holds prime importance in medical X-ray market. The evolution from a non-portable and high X-ray dosage solution to a technology that offers mobility, wireless capabilities, high-resolution imaging, low X-ray dosage and exposure, and convenient affordability is indeed appreciable, depicting how far DR-based medical X-ray industry has come. These detectors possess the ability to preserve original image quality and store files for later access – an advantage that CR systems could not offer.

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In recent times, subject to the robust advancements in technology and the massive shift toward digitization, medical X-ray market players have been striving to tap the unexplored arenas and come up with a gamut of challenging products in DR-based medical X-ray industry. These systems, it is observed, have been extensively deployed in clinics, hospitals, and numerous other medical facilities. With increasing demand, medical X-ray market behemoths have been facing periodic challenges to brainstorm even more, versatile, lightweight, reliable, durable, and mobile DR systems. As per estimates, DR-based medical X-ray industry size has been forecast to depict the highest CAGR of 6.7% over 2017-2024, driven by the robust requirement of these systems for dental applications, orthopedic applications, chest imaging, and mammography.

Increased risks of patient exposure to high radiation, for a prolonged period, has been indisputably considered as a major hindrance for medical X-ray market. As per statistics, X-rays account for more than 89% of the annual radiation exposure. Numerous efforts have been undertaken in the last many years, to brainstorm technologies for lowering this radiation exposure that has been posing as a critical restraint for the commercialization scope of medical X-ray market. In this regard, recently, a group of researchers had unveiled a study that focuses on a mathematical model – the linear no-threshold theory, that would help set radiation standards. Positioning a well-recognized, massively high dose of radiation that would have a severe impact on human health, the algorithm would help achieve a linear extrapolation to minimally lower doses to detect the assumed impact. In the event that the study translates into a practical manifestation, it would create waves of anticipation in medical X-ray market, prompting players to quickly commercialize the technology. In consequence, what can be unassailably inferred is that the results obtained from the numerous R&D programs and the innovative contributions by major companies, would result in medical X-ray market carving out a lucrative growth path in the years ahead, with a target revenue estimation of USD 15 billion by 2024.

Author Name : Saipriya Iyer

An overview of POC molecular diagnostics market in terms of latest innovations, Isothermal amplification technique to drive the industry demand

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Endorsed with a vast application expanse in the renewed healthcare fraternity, point of care molecular diagnostics market has already garnered substantial remuneration over the recent years. Testament of the statement is the billion-dollar valuation attained by the industry in 2016. The sheer popularity of POC molecular diagnostics market can be majorly credited to the increasing incidence of infectious diseases along with spreading public awareness with regards to its pre-disease detection. In this regard, it is prudent to mention some of the crucial aspects that have indirectly made the stage lucrative for point of care molecular diagnostics industry growth.

U.S. Point of Care (PoC) Molecular Diagnostics Market size, By Infectious Diseases, 2013-2024 (USD Million)
U.S. Point of Care (PoC) Molecular Diagnostics Market size, By Infectious Diseases, 2013-2024 (USD Million)

Say, for instance, sudden outbreak of emerging infectious diseases like Ebola, MERS, and influenza A (H7N9) pose great challenges for optimal efficient patient care in resource-limited settings. Advanced diagnostics technologies that are highly expensive cannot be smoothly effectuated in RLS, subject to the economic constraints. Amidst the backdrop, healthcare giants and clinicians have been heavily concentrating on simple and cost-effective POC diagnostics that rely less on operator training and environmental context, which by extension is expected to reflect in the POC molecular diagnostics industry share over the ensuing years.

As reported by Global Market Insights, Inc., global POC molecular diagnostics market is slated to exceed a valuation a USD 2.5 billion by the end of 2024. A paradigm shift in healthcare business model with regards to increasing penetration of nanotechnology, miniaturization, and microfluidics is pushing the frontiers of point of care devices toward user friendly, enhanced sensitivity, and cost competitive molecular level diagnostics. Speaking of technological advancements, isothermal amplification technique is claimed to observe lucrative growth in point of care molecular diagnostics marketplace over the coming years. Subject to the fact that thermocycling machineries are not required in the utilization of this technology, it can mostly perform processes with greater efficiency, reduced time, and high throughput. Add to it, the constant temperature of amplification and increased reliability allows isothermal amplification to smoothly integrate in a variety of POC devices, which in turn, is favoring POC molecular diagnostics industry proliferation.

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Healthcare experts have been rigorously experimenting with this technology, claiming it to be disruptive for the entire point of care molecular diagnostics market space. For instance, Orion Diagnostica, the fully owned subsidiary of Finland’s Orion Group, continued to bring innovative solutions for its patent POC isothermal amplification based molecular diagnostic platform, GenRead, in a bid to bring molecular diagnostics in the foreground for the Americans. In a latest news snippet, speaking of the recent advancements on the platform, the healthcare giant has unveiled an absolutely state-of-the art method, dubbed as SIBA (Stand invasion based amplification).

Reportedly, the company is presently focussing on developing a POC respiratory test on SIBA based GenRead platform. If experts are to be believed, this new method would be able to detect influenza A and B and other respiratory syncytial viruses. While Orion Group has been at the forefront in healthcare space since for a while now, its brand recognition in molecular diagnosis under the veil of Orion Diagnostica, has gained a renewed traction over the recent years, making it one of the profound players in POC molecular diagnostics industry space. Not to mention, the competitive landscape of point of care molecular diagnostics market is characterized by similar kind of unique products, explicitly designed for specific patient needs.

Top notch biggies involved in the business sphere have been vying up with one other to sustain their presence in the competitive POC molecular diagnostics market. Amidst the fierce share battle, these companies are readily adopting mergers and acquisitions as one of the significant growth strategies to expand their geographical reach.  Citing a precedent, the acquisition of Alere by Abbott is claimed to mark an outset of a lucrative journey of the latter in POC molecular diagnostics industry. Recently inked, the agreement in all likeliness, would position Abbott as a global leader in POC testing portfolio and would further strengthen the healthcare giant’s diagnostics presence in overall business space. As per reliable sources, the acquisition comes on the heels of Abbott’s long-term strategy of maintaining its leading position in other key business spheres including nutritionals, medical devices, and pharmaceuticals.

The current framework of technological interferences in healthcare space provides a significant testament to the fact that POC molecular diagnostics industry is set to thrive on upgraded state-of-the-art techniques over the ensuing years. Recently, OraSure Technologies, one of the acclaimed names in POC molecular diagnostics market, has recently received a prequalification certificate from the U.S. World Health Organization for its OraQuick HIV Self- Test. For the record, OraQuick HIV Self-Test is a simple point of care test aimed to detect antibodies both for HIV 1 and HIV 2 with just an oral swab. With ongoing R&D investments by renowned giants as well as leading research organizations with regards to pre-disease detection, POC molecular diagnostics industry is certain to tread toward one objective that is enhancing accuracy, preciseness, and improved research on molecular diagnosis at lower costs, which undoubtedly would sway the business growth in the coming years. As per reliable estimates, global POC molecular diagnostics market is slated to record 9% CAGR over 2017-2024.

Author Name : Satarupa De