Point-of-care (POC) data management system helps in providing optimal patient care and it maximizes effectiveness, improves clinical workflow, satisfies compliance requirements and reduce cost. POC data management system enables clinicians to make decisions easily, as the patient records are well maintained and point-of-care has the potential to significantly influence health care delivery and to address the challenges of health disparities. The demand for POC data management system is expected to increase, as the healthcare agencies are focused on improving patient safety and care. Moreover, rising number of hospitals looking for new opportunities to increase operational efficiency and reduce costs is driving growth of the point-of-care management system market. POC data management system helps medical professionals to manage patient’s diagnostic and clinical data easily, which was a tedious task earlier. A typical point-of-care practice involves multiple devices platform from various vendors, which is used by thousands of operators spread over the entire region. These systems are hardware and software based management technologies, which include cloud, web, and premise based mode of delivery.
Point-of-Care (POC) Data Management Systems Market – Dynamics
Patient care is becoming more computer based and this drift has a direct impact on point-of-care data management systems market. As patient care becomes more and more data driven, the significance of transferring information from the point-of-care devices to the cloud is driving growth of the POC data management systems market. The importance of care is now shifting towards early detection and prevention of diseases. Therefore, government organizations such as the National Institute of Health are investing huge amount of money for the development of microsystem sensors and the low cost imaging technologies for point-of-care testing. Recent advancements in the point-of-care testing are tackling the challenges related to cardiac and stroke patient’s diagnostics and treatment. For instance, 2010 report of the National Institute of Health showed that 90% of the cancer related death was due to circulating tumor cells (CTCs). Researches supported by the National Institute of Biomedical Imaging and Bioengineering (NIBIB) have recently developed a new microfluidic device capable of effective separation of CTCs from the whole blood. These technologies are likely to boost the market growth. Moreover, advancements in data integration, remote sensing in hospitals, ease of use, and wireless connectivity are major factors that are increasing the demand for POC data management system. However, slow rate of adaptation by users, high cost, and maintenance are the some of the restraints affecting the growth of point-of-care data management systems market.
Point-of-Care (POC) Data Management Systems Market – Regional Insights
On the basis of region, the point-of-care data management systems market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America accounts for the largest share in the global point-of-care data management systems market, owing to rising adoption of innovative technologies in the region. Furthermore, government funding for research and development of point-of-care devices is also accelerating the growth of point-of-care data management systems market. For instance, in 2016, John Hopkins University researchers were funded US$ 1,579,040 for point-of-care technology to detect sexually transmitted disease.
Moreover, Asia Pacific is expected to witness significant growth in the market over the forecast period, owing to its massive pool of population vulnerable to various chronic diseases and increasing healthcare research. For instance, in 2015, Atomo Diagnostics received US$ 1,800,000 grant from the Medical Devices Fund (MDF) of Australia for a rapid point-of-care HIV diagnostic test that replaces the need for extensive procedural steps and multiple kit components.
Point-of-Care (POC) Data Management Systems Market – Competitive Landscape
The key players operating in the global point-of-care data management systems market include HemoCue AB, Siemens Healthinners, Thermo Fisher Scientific, Inc., Abbott laboratories, Randox Laboratories Ltd., Hedera Biomedics srl, TELCOR, Inc., and Seawar Electronic Ltd. Major players are focused towards adopting strategies such as collaboration to strengthen their product portfolio and retain their position in the market. For instance, in 2016, Philips and Qualcomm announced strategic collaboration for an advanced personalized connected health care system.
Point-of-Care (POC) Data Management Systems Market – Taxonomy
On the basis of component, point-of-care (POC) data management systems market is segmented into:
On the basis of mode of delivery, point-of-care (POC) data management systems market is segmented into:
On the basis of end user, point-of-care (POC) data management systems market is segmented into:
On the basis of geography, point-of-care (POC) data management systems market is segmented into:
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