May 18, 2024

Point Of Care (Poc) Data Management Systems Are Expected To Be Flourished By Increasing Focus On Telemedicine And Remote Patient Monitoring

Point of care (PoC) data management systems are standalone or integrated software packages that manage data acquired from point of care testing devices. They provide seamless record management, lab result review, result reporting, and inventory management capabilities at the point of care. Point of care testing refers to medical diagnostic testing performed outside a laboratory setting, with results produced in real time for immediate clinical action. Common point of care tests include blood glucose monitoring, cardiac or tumor marker testing, blood gas and electrolyte analysis, and infectious disease testing. POC data management systems help clinicians and healthcare organizations leverage POC test results to enhance clinical decision making and patient management. They facilitate timely diagnosis and treatment while streamlining workflows.

The global point of care (PoC) data management systems market is estimated to be valued at US$ 74.8 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing focus on telemedicine and remote patient monitoring will positively influence market growth over the forecast period. Telemedicine refers to the remote delivery of healthcare services such as diagnosis, consultation, treatment and advice using telecommunications technology. It is emerging as an effective way to manage chronic conditions and provide care to remote populations. POC data management systems enable integration of remote test results into the patient’s health records, allowing virtual clinical visits and remote monitoring. This facilitates continuity of care and disease management outside traditional clinical settings. Additionally, increasing preference for decentralized healthcare will also contribute to market growth. The shift towards outpatient and home care enables more swift diagnosis and treatment closer to patients through POC testing and associated data management. Ease of use, workflow streamlining and analytics capabilities of POC systems support decentralized healthcare delivery models. These factors are anticipated to complement market expansion through 2030.

Segment Analysis
The point of care (PoC) data management systems market can be segmented based on product, mode of delivery, end-user and region. Based on product, the market is segmented into hardware, software and services. Among these, services segment dominates the market as they help optimize operation, maintenance, and support. On the basis of mode of delivery, the market is categorized into cloud-based and on-premise models. The cloud-based model dominates the market due to advantages like easy implementation and lower installation cost. Based on end-user, the market covers hospitals and clinics, home care settings, and reference laboratories. Here, hospitals segment holds lion’s share due to rise in patient visits and integration of PoC technologies.

PEST Analysis
Political: Governments across regions are supporting PoC diagnostics adoption through initiatives to improve access to healthcare especially in rural regions.

Economic: Rise in disposable income is improving affordability of advanced PoC devices.

Social: Increasing prevalence of chronic diseases and rising awareness about timely diagnosis are favoring market growth.

Technological: Adoption of AI, IoT, and blockchain in data management will optimize clinical workflows and boost efficiency.

Key Takeaways
The Global Point Of Care (Poc) Data Management Systems Market is expected to witness high growth. The global Point of Care (PoC) Data Management Systems Market is estimated to be valued at US$ 74.8 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.

Regionally, North America captures major market share supported by rising adoption of EHR/EMR systems in the US. Asia Pacific shows high growth prospects due to improving health infrastructure and rising medical tourism in countries like India and China.

Key players operating in the point of care (PoC) data management systems market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), and PHC Holdings Corporation (Japan). Roche holds leading share with its extensive product portfolio comprising devices, software and related services. Danaher also has strong presence backed by its pharma diagnostic devices business. PHC Holdings focuses on Japan and aims to expand in other Asian countries through mergers and acquisitions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it