Trinity Biotech plc - TRIB STOCK NEWS

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.

The global HIV rapid test kits market is projected to grow from $1,437.98 million in 2022 to $1,687.7 million by 2028, at a CAGR of 2.70%.

Increased awareness and government policies promoting HIV self-testing are key drivers. Despite the growth, challenges include incidences of false negatives and limited accessibility. Major players like Trinity Biotech and OraSure Technologies are expanding their product offerings, including next-generation kits. Collaboration with organizations like UNAIDS enhances market opportunities, especially in regions with high infection rates, such as Africa and Eastern Europe.

The global cardiac biomarkers market is projected to reach $23.8 billion by 2027, up from an estimated $13.4 billion in 2022, reflecting a compound annual growth rate (CAGR) of 12.2%. This report, published by Research and Markets, analyzes the market's growth drivers, challenges, and forecasts for key segments including Acute Myocardial Infarction, Heart Failure, and Stroke. Significant insights into leading suppliers like Abbott Laboratories and Roche Diagnostics are included, alongside detailed market trends and opportunities for investment and research.

The rapid diagnostics kits market for the Indian Ocean region is projected to reach $1.75 billion by 2029, growing at a CAGR of 1.6% from 2022. Key growth drivers include the rising prevalence of chronic and infectious diseases, increased demand for Point-of-Care (PoC) diagnostics, and the impact of the COVID-19 pandemic. However, the market faces challenges such as variance in test results and reluctance to change existing diagnostic practices. The report also highlights opportunities in emerging economies within the region, suggesting an untapped potential for growth.

TCC announced a webinar featuring former Icahn Enterprises CEO Aris Kekedjian and Stanford professor Dr. Yossi Feinberg, focusing on strategies to navigate potential recession impacts in 2023. The event addresses rising interest rates, inflation risks, and supply chain disruptions, emphasizing the need for business leaders to maintain corporate value through proactive measures. Scheduled for February 2, 2023, at 8 am PST, the panel will include audience participation for real-time questions. TCC aims to provide insights that mitigate risks and leverage innovation for corporate leadership during challenging economic times.

The lateral flow assays market is projected to grow at a CAGR of 3% from 2023 to 2028, reaching a market size of USD 11.30 billion by 2028, up from USD 9.53 billion in 2022. Key drivers include smartphone and AI integration, increased applications in food & beverage testing, and rising demand for home-based testing devices, particularly amid the COVID-19 pandemic. Major players in the market include Trinity Biotech, Abbott, Roche, and Thermo Fisher Scientific. This growth reflects heightened awareness and adoption of point-of-care testing solutions.

The in-vitro diagnostics market in North America is expected to grow at a CAGR of 3.3% from 2022 to 2028, highlighting significant investment opportunities exceeding USD 3 trillion. In 2022, North America held the largest market share at 40% globally, driven by high healthcare expenditure and a patient population with chronic conditions (60%-80%) demanding diagnostic services. The market size is projected to reach USD 127.56 billion by 2028 from USD 105 billion in 2022. The COVID-19 pandemic accelerated the demand for IVD solutions, especially point-of-care diagnostics, emphasizing the growing importance of rapid testing and new product launches.

The global HIV rapid test kits market is projected to grow from USD 1.43 billion in 2022 to USD 1.68 billion by 2028, at a CAGR of 2.7%. The demand for fourth- and fifth-generation rapid test kits is increasing as they offer improved reliability compared to older generations. Digital innovations and government support for HIV self-testing are driving market growth, particularly in high- and middle-income countries. Major players, including Trinity Biotech, are positioned to benefit from rising awareness and funding for HIV management. Overall, the market is expected to expand significantly due to enhanced testing capabilities and increased access.

The Global Rapid Diagnostics Market is projected to reach $77.1 billion by 2031, expanding at a 7.4% CAGR from 2021. Key growth drivers include increased demand for point-of-care diagnostics, rising chronic diseases, and a growing elderly population. The report provides a detailed analysis of market structure, growth drivers, and emerging trends across key product segments such as consumables and analyzers. It also outlines market opportunities across various applications including blood glucose and infectious disease testing. This comprehensive outlook covers regional insights and competitive landscape.