ROCKVILLE, Md., Feb. 19, 2018 /PRNewswire/ -- Though not likely to immediately realize the billion-dollar revenues projected in many sources, molecular point-of-care is here to say, says market researcher Kalorama Information. The molecular point-of-care market, consisting of systems with molecular capability used in decentralized test environments, was estimated at $165 million in 2017 and is expected to continue with double-digit growth levels to 2023, according to IVD market researcher Kalorama Information. Influenza testing, hospital-acquired infections and sexually transmitted diseases are areas where growth is expected. Molecular systems need to overcome pricing objections and improve in the case for their benefits, but the advantages they offer clearly presage a bright future for systems long-term. PCR or sequencing based systems in decentralized settings will see some of the fastest revenue growth compared to other IVD market categories. This conclusion was made in Kalorama Information's report, The Market and Potential for Molecular Point of Care Diagnostic Tests.
"Just as when molecular test systems were first introduced, huge predictions settled down to reasonable ones, 15 years ago, so it is with the point of care version." said Bruce Carlson, Publisher of Kalorama Information. "This is a market with high potential and investor interest was justified, but healthcare organizations are judicious about purchasing and the technology will have to prove. There's also side benefits to these technologies, where large IVD players can present the system as complete package of laboratory equipment, down to point of care level and that should continue to benefit the major players in molecular POC."
The firm said some product development announcements from two years ago have not materialized, and some companies have not updated their product development pipeline in significant ways since our last study.
The most successful area of molecular point-of-care, the firm found, was in the respiratory testing areas such as flu where systems have concentrated in approvals. Key companies in the market include Cepheid, Roche, Abbott/Alere and bioMerieux, according to the report. Influenza and respiratory is the key area of molecular diagnostics, and is expected to continue to dominate, making up nearly 40% of the market now and the same percentage expected in 2023. Yet the firm said that Immunoassay POCs have not shown visible decline in revenue growth and there are innovations in this competitive area. Even in the mainstay of molecular POC testing, influenza testing, immunoassays have not experienced a decline from the presence of molecular testing. Market growth estimates at 25.3% are down from the potentials in our report (78% growth) published early 2016. More models, additional menu expansions and robust replacements of systems were expected.
It's not all upside. "Immunoassay POC didn't go away, just as its large format cousins didn't go away when molecular testing appeared," said Carlson.
"The flu season presents an opportunity for the specificity that molecular point of care can provide," said Carlson. "Fast identification of Strep A is also a benefit of the systems. We've seen clinics advertising the use of systems as a benefit to patients ? this is a positive sign for the technology."
Molecular point-of-care solutions have come to offer multiplexing capabilities, in which an assay is able to detect multiple pathogenic targets for an infectious condition, in a single run. The most common multiplex assays are those for respiratory infections, which target multiple flu viruses and strains as well as respiratory syncytial virus, among others; test panels are available to detect multiple possible causes of gastrointestinal infection, sepsis, or even multiple tropical disease agents like Ebola, Dengue, Chikungunya, malaria, and so on. Assays can also be designed to target specific genes that are commonly associated with noninfectious diseases such as cancer or Alzheimer's disease, or can determine a patient's sensitivity or resistance to pharmaceutical treatments.
"We see less of a tropical/neglected market right now than we thought two years ago. It will arrive, but those markets still will be serviced by effective immunoassays," Carlson said.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
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SOURCE Kalorama Information
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