NEW YORK, Nov. 19, 2015 /PRNewswire/ -- Asia-Pacific Point-of-Care Testing Market : Trends, Challenges, and Best Practices for Stakeholders
Asia-Pacific (APAC) point-of-care testing (POCT) market was worth $2.80 billion in 2014. In hospitals, POC is used more in emergency rooms (ERs), operation theatres (OTs), recovery rooms (RRs), cath labs, and intensive care units (ICU). The rental model in which the cost of the device is borne by the manufacturer while the profit is shared by the hospital and the manufacturer is the most preferred in private hospitals. Physicians' clinics have shown a greater demand for POC testing in countries such as South Korea and Australia compared to India and other Southeast Asian countries due to ease of diagnosis, faster test results, and an increasing pool of patients ready to pay out of pocket.
Key Findings
-Asia-Pacific (APAC) point-of-care testing (POCT) market was worth $ Billion in 2014 and Japan had the highest market share of % followed by China with % and Australia with %.
- Compared to North America and Europe, APAC is a smaller market. Issues such as high cost per test, accuracy (specificity and sensitivity of POC tests), reimbursement, and training are the major factors responsible for slow growth. In APAC, hospitals use a greater volume of POC devices compared to primary care settings (except Australia). The use of POC is based more on the perception of physicians.
- POC tests are considered useful when appropriate, that is, use of POC tests reduces the disposition time in only %– % of patients, and therefore is perceived as more appropriate for critical care.
- In hospitals, POC is used more in emergency rooms (ERs), operation theatres (OTs), recovery rooms (RRs), cath labs, and intensive care units (ICU). The rental model in which the cost of device is borne by the manufacturer while the profit is shared by the hospital and the manufacturer is most preferred in private hospitals.
- Physicians' clinics have shown greater demand for POC testing in countries such as South Korea and Australia compared to India and other Southeast Asian countries due to ease of diagnosis, faster test results, and an increasing pool of patients who are ready to pay out of pocket.
- POC tests are not as highly preferred as central laboratory tests because of low volume and high cost. This creates an additional pressure on the billing system to assign different codes for POC tests. This again can lead to error in billing by untrained or newly appointed staff resulting in failure to enter the data into the data management system due to mismatched test codes.
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