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| PSID is Targeting Large and Growing, Multi-Billion Dollar Markets |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.0016
Change (%): - 0.00 (3.12)
Volume: 149,071,542 |
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PositiveID Updates Market Opportunities Report for its Molecular Diagnostics, Medical Device and Mobile Labs Businesses
DELRAY BEACH, Fla., Nov. 29, 2016 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today it has published an updated report on market opportunities for its molecular diagnostics, infrared thermometry, and mobile labs businesses.
PositiveID is targeting large and growing, multi-billion dollar markets. BCC Research estimates the global molecular diagnostics market will reach 45 billion dollars by 2020. Research from Global Industry Analysts projects the global body temperature monitoring at 1 billion dollars by 2020, with infrared/non-contact thermometry experiencing the fastest growth. According to Homeland Security Research Corp. the annual global bio-detection market is forecast to grow to 5.6 billion dollars by 2016.
The Company’s molecular diagnostics business is focused on its Firefly Dx real-time polymerase chain reaction (PCR) detection system, which is being developed to be a handheld, fully automated, lab quality, real-time device able to detect pathogens at the point of need. Firefly’s applications include point-of-need, lab-quality, detection of pathogenic organisms; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.
The Company’s medical device business consists of its Caregiver infrared thermometer, which is FDA cleared for measurement of forehead temperature in adults, children, and infants, without contact. It delivers an oral-equivalent temperature directly from the forehead in one to two seconds. Since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, and saves healthcare facilities the cost of covers (as much as $0.05 to $0.10 per temperature), storage space, and waste disposal costs.
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