Global Point-of-Care Data Management Software Market Forecast to Reach 11,772.2 Million by 2025, at a CAGR of 12.3% Between 2020 and 2025
DUBLIN, Aug. 25, 2020 /PRNewswire/ -- The "Point-of-Care Data Management Software Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The POC data management software market was valued at USD 5916.9 million in 2019, and it is expected to reach a value of USD 11,772.2 million by 2025, registering a CAGR of 12.3% over the forecast period (2020 - 2025). Point-of-care technologies enable hospitals and clinics to invest more time and money in technologies that help accelerate the patient flow through practice and streamline doctors' and nurses' daily workflow by reducing waiting times.
- The demand for point-of-care testing is growing in response to the value-shift in healthcare and developments in technology. Several factors are driving the demand for POCT. Some of them include an increase in infectious diseases, a rise in lifestyle-related diseases, such as cardiac diseases and diabetes, growing patient desire to use home-based POC devices, and technological advancements creating faster and easier-to-use devices.
- For instance, around the globe, an estimated 425 million adults have diabetes. By 2040, this number is expected to rise to over 640 million. As diabetes across the world continues to increase, so must the effort to raise awareness. It is expected that 37% of all diabetic adults live in the Asia-Pacific region.
- Rapid diagnosis of clinical conditions through point-of-care testing (POCT) can improve patient outcomes. The primary concept behind POCT growth is that bringing testing closer to the patient and results quickly and conveniently to the provider can speed up the diagnosis and treatment.
- The COVID-19 outbreak placed a significant burden on healthcare systems worldwide that are straining to handle the volumes of ill patients requiring life-saving treatment. Several countries have witnessed or are preparing for shortages of critical medical equipment such as surgical masks, face shields, life-saving ventilators, or even the physical space and beds for patients. These seemingly fundamental necessities become the priority in a world of increasingly high-tech healthcare equipment.
Key Market Trends
Hospitals/Critical Care Units Segment is Expected to Hold a Significant Market Share
- The POCT and electronic medical records system usage are rising in hospitals, where the importance of real-time electronic reporting of results is increasing. On supporting the use of such a model, POCT data management systems are evolving to meet the changing needs of the marketplace. Across the hospitals, either from campus to campus or from one state/province to another, the web-based connectivity data management platform unlocks major efficiency in point-of-care testing program management.
- The most important aspect of POC (point-of-care) technology is that it is present at the bedside. POC technologies are used in facilitating and improving interactions between patients and their nurses, doctors, and surgeons, leading to better healthcare outcomes. Bedside glucose testing is the most widespread testing and occupies the largest volume in the POC market. These were the first devices developed and involved hundreds of devices and thousands of operators.
- POC technology is the game-changing innovation that harnesses the hospital's IT structure to enhance several aspects of the workflow at the facility. The transition towards electronic medical records (EMR) has been in the works for a long time throughout the medical industry.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Innovation in Flexible Connectivity and Software Interface Solutions
4.2.2 Rise in Healthcare Infrastructure Budgets
4.2.3 Government Initiatives for Promoting the Deployment of POC Testing
4.3 Market Challenges
4.3.1 High Deployment Costs and Operational Challenges
4.4 Market Opportunities
4.4.1 Rapid Testing and Decentralized Healthcare
4.5 Porters Five Force Analysis
4.6 Current Regulatory Landscape
4.7 Emerging Applications in Point-of-Care Testing
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 End User
5.1.1 Hospitals/Critical Care Units
5.1.2 Diagnostic Centers
5.1.3 Clinics/Outpatient
5.2 Application
5.2.1 Infectious Disease Devices
5.2.2 Glucose Monitoring
5.2.3 Coagulation Monitoring
5.2.4 Urinalysis
5.2.5 Cardiometabolic Monitoring
5.2.6 Cancer Markers
5.2.7 Hematology
5.2.8 Other POC Applications
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Siemens Healthineers AG + (Conworx)
6.1.2 Abbott Point of Care Inc. + (Alere)
6.1.3 Danaher Company (HemoCue and Radiometer Medical ApS)
6.1.4 Roche Diagnostics Corporation
6.1.5 TELCOR Inc.
6.1.6 Orchard Software Corporation
6.1.7 Randox Laboratories Ltd
6.1.8 Thermo Fisher Scientific Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/stm2lu
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