POC testing is a new paradigm in laboratory testing which is gaining popularity in critical care settings where the POC testing data while used in bedside care needs to be managed according to regulatory guidelines and integrated to hospitals laboratory and hospital information systems, thereby driving need for proper POC informatics to integrate the data.
Growing ageing population, diminishing resources, budget restraints and lack of standard devised clinical operating procedures and treatment regimens are key contributing factors towards adopting technology driven systems in to manage clinical workflows, thus promoting demand for point of care informatics. Informatics facilitates process of integrating workflows for tedious documentation, medical and staff management along with easy access and security of patient data generated from POC devices will further drive industry growth.
Cardio metabolic monitoring products will observe strong gains at 10.14% by 2026. Growing popularity of these devices in government health screening programs has led to increase in need for proper data management systems which is likely to further drive product demand. Moreover, rise in POC testing implementation in emergency and critical care has owing to faster and effective results in severe conditions will require proper connectivity of the results to the monitors or health record for effective diagnosis and treatments, thus promoting POC informatics demand.
On premise software deployment systems accounted for 47.84% in 2019. On premise EHR systems gives access to information even if the internet systems are down, where they can effectively continue work mainly in rural areas along with giving all sort of access and control to the data. Increase in number of private hospitals and laboratory services which are willing to spend on separate localized IT environment setup will favor demand for on premise deployment.
North America point of care informatics market is anticipated to rise at a CAGR of 8.92% during the forecast period. The U.S., Canada, Mexico are studied in the point of care informatics market in the North America region. Growing penetration of healthcare IT has led to rise in demand for electronic health record management for easy accessibility of patient health data which will promote use of point of care informatics solution for data management. Moreover, huge investments in platform development of cost effective installation and set-up of point of care data management systems will further accelerate regional industry growth.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 analysis of micro and macro-economic factors on POC informatics market. In addition, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The key players in the Point of Care Informatics market share are Abbott Informatics, Autoscribe Informatics, Becton, Dickinson, and Company (BD),Chembio Diagnostics, Danaher Corporation, Esaote SpA, Hedera Biomedics srl, Hoffmann-La Roche Ltd., Orchard Software Corporation, Randox Laboratories Ltd., Seaward Electronic Ltd.,Sekisui Diagnostics, Siemens Medical Solutions and Thermo Fisher Scientific Inc.
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