Trinity Biotech plc - TRIB STOCK NEWS

The North America point-of-care diagnostics market is projected to reach USD 28.46 billion by 2030, growing at a CAGR of 6.2% due to the increasing geriatric population and the demand for immediate testing results. Notable funding from various sources, including the U.S. Department of Defense and the Bill & Melinda Gates Foundation, is expected to accelerate advancements in point-of-care technologies. The report indicates that products for infectious diseases currently dominate the market, driven by COVID-19 testing. Clinics are the leading end-use segment, reflecting consumer preference for convenience.

Trinity Biotech (Nasdaq: TRIB) announced that the Kenyan Ministry of Health has adopted its TrinScreen HIV as the screening test under WHO guidelines. This program is among the largest in Africa, with 7-9 million tests annually. The new algorithm deployment is expected to commence in Q2 2023. The African screening market for HIV is valued at approximately USD 150 million. The Kenyan adoption marks a significant endorsement of TrinScreen HIV’s quality and positions Trinity Biotech for expanded opportunities in other African nations. The company is ramping up manufacturing capacity in Ireland to meet anticipated demand.

The global market for Adult Hemoglobinopathy Testing is projected to grow from US$368.6 Million in 2022 to US$513.7 Million by 2030, with a CAGR of 4.2%. The U.S. market alone is estimated at US$98.2 Million, while China is expected to grow at a remarkable 6.6% CAGR, reaching US$110.4 Million by 2030. Key players include Trinity Biotech, PerkinElmer, and Thermo Fisher Scientific. Notable trends impacting growth involve post-pandemic recovery and competitive dynamics across various geographic regions.

Trinity Biotech will report its financial results for the fourth quarter and fiscal year 2022 on March 23, 2023. A conference call is scheduled for 10:00 am ET (2:00 pm GMT) to discuss these results. Interested participants can join via US Toll Free at 1-844-861-5499 or access a webcast online. Replays will be available until March 30, 2023, with a specific dial-in code provided for conference call replay. The company continues to develop diagnostic products for the clinical and point-of-care markets, emphasizing its commitment to addressing infectious diseases and other health parameters.

The transport media market was valued at $13 billion in 2022 and is projected to decline to $12.59 billion by 2028, indicating a CAGR of -0.73%.

Factors contributing to this decline include the ongoing impacts of the COVID-19 pandemic, which initially boosted demand for transport media solutions such as viral transport medium (VTM). However, the market is experiencing adjustments as pandemic-related demand stabilizes.

The report provides insights into market dynamics, segmentation, and regional performance, highlighting North America as a market leader due to high diagnostic testing rates.

Technavio projects the infectious disease market to grow by USD 104.81 billion from 2022 to 2027, with a CAGR of 12.49%. Growth is attributed to the rising prevalence of infectious diseases due to lifestyle changes, climate variability, and drug-resistant pathogens. The market is expected to see significant contributions from the drugs segment, driven by increased awareness and funding for R&D. Major players include Trinity Biotech, Bio Rad Laboratories, Danaher Corp., and Hoffmann La Roche. North America is anticipated to dominate with a share of 42%.

Trinity Biotech plc (Nasdaq: TRIB) has announced an increase in its loan facility, securing an additional $5 million in funding to support potential acquisitions and ongoing operations. The amended senior secured term loan, with Perceptive Advisors, totals $20 million and matures in January 2026, accruing interest at 11.25% plus a variable rate. The company plans to utilize the funds for strategic investments in diabetes care and decentralized diagnostic solutions. CEO Aris Kekedjian emphasized that the funding will enable rapid growth amidst a strong market for M&A opportunities.

The global lateral flow assays market is projected to grow from $9.53 billion in 2022 to $11.3 billion by 2028, at a CAGR of 2.89%. This growth is driven by rising infectious and chronic diseases, with particular demand noted for home-based testing devices. Innovative applications, including saliva diagnostics and AI integration in testing, are expanding market opportunities. In 2022, the largest product segment comprised kits and reagents, making up 82.24% of the market. North America leads the market share at 28.57%, supported by significant healthcare advancements and the prevalence of diseases.

The global in vitro diagnostics market is anticipated to grow from $105.23 billion in 2022 to $127.56 billion by 2028, reflecting a CAGR of 3.26%. Key trends include the shift from conventional instruments to advanced, automated analyzers and the integration of AI and cloud technology, fostering rapid and cost-effective testing solutions. Advances in molecular diagnostics and an increase in product launches, including M&A activities, are transforming healthcare outcomes. The reagents and consumables segment holds the largest market share, while the immune & clinical chemistry segment dominates by technology. A significant demand for diagnostics related to chronic and infectious diseases propels market growth.