PositiveID Corp (OTCMKTS:PSID) has released an updated report on market prospects for its molecular diagnostics, mobile labs and infrared thermometry businesses. The company is targeting growing and large, multi-billion dollar operations. BCC Research projects the worldwide molecular diagnostics market to hit $45 billion by 2020.
Global Industry Analysts anticipates the international body temperature monitoring to reach $1 billion by 2020, with non-contact/ infrared thermometry witnessing the fastest growth. As per Homeland Security Research Corp. the yearly international bio-detection market is projected to touch $5.6 billion by 2016.
PositiveID’s molecular diagnostics segment emphasis remains on its Firefly Dx real-time PCR detection mechanism, which is being advanced to be a handheld, automated, utmost lab quality, real-time system able to detect pathogens whenever required. Firefly’s applications contain point-of-need, lab-quality, finding of pathogenic organisms; farmed and food screening in domestic segments and developing countries; and finding of biological agents that lead to mass destruction.
PositiveID’s medical device operations comprises of its Caregiver infrared thermometer. It is FDA approved for forehead temperature measurement in children, infants and adults, without contact. It provides an oral-equivalent temperature instantly from the forehead in 1-2 seconds. As Caregiver doesn’t need probe cover supplies and there is no skin contact, it minimizes the peril of cross-contamination, and saves healthcare services the cost of covers amounting to as much as $0.05 – $0.10 per temperature, waste disposal costs and storage space.
PositiveID’s mobile labs segment, which comprises of its subsidiary firm, E-N-G Mobile Systems, is a pioneer in producing and engineering its MobiLab™ Systems, mobile laboratories for chemical, radiological, nuclear testing and biological applications. More than 400 ENG MobiLabs are in process throughout the world.
PositiveID comes in the list of life sciences tools and diagnostics firm with an extensive patent portfolio. It advances biological detection and diagnostics mechanism, specializing in the advancement of microfluidic methods for the mechanical preparation of and presentation of biological assays.