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 by 2020. Research from Global Industry Analysts projects the global body temperature monitoring at $1 billion 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 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.
PositiveID’s mobile labs business, which consists of its wholly owned subsidiary, E-N-G Mobile Systems, is a leader in engineering and producing its proprietary MobiLab™ Systems, mobile labs for biological, chemical, radiological and nuclear testing applications. Over 400 ENG MobiLabs are in operation throughout the world.
About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's future expectations, including the likelihood that the global molecular diagnostics market will reach $45 billion by 2020; the likelihood that the global body temperature monitoring will reach $1 billion by 2020, with infrared/non-contact thermometry experiencing the fastest growth; the likelihood that the annual global bio-detection market is forecast to grow to $5.6 billion by 2016; the likelihood that 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; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company’s ability to target the professional healthcare market, as well as other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on April 12, 2016, and 10-Qs filed on November 18, 2016, August 12, 2016, and May 16, 2016, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.