The healthcare industry’s increasing focus on providing value-based services has led to a growing demand for point-of-care (POC) testing. By delivering laboratory results in real-time at the patient’s location, POC testing can improve patient outcomes and satisfaction. To meet the healthcare industry’s increasing needs, laboratories are managing POC testing effectively by utilizing data management and connectivity solutions that integrate POCT results into patients’ charts, thereby simplifying POCT management challenges. The adoption of health information technology has also been facilitated by the Health Information Technology for Economic and Clinical Health (HITECH) Act, which has encouraged healthcare facilities to adopt these systems. In 2015, the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health IT (ONC) supported the adoption of electronic health records-meaningful use (EHR-MU) to ensure that certified EHR technology provides efficient electronic exchange of health information, thus improving the quality of care.
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Decreased possibility of human error to augment growth of the point of care data management systems market
The manual management of data for a large patient volume is a laborious and expensive process that requires a considerable workforce. Furthermore, manual record-keeping systems in healthcare are prone to human errors and data loss, making them unreliable. Patients and healthcare providers alike are turning to data management systems to keep track of medical histories and treatment plans more efficiently. As the incidence of various diseases increases, demand for POC devices is also expected to rise, leading to greater adoption of point-of-care data management systems in diverse medical and home care settings. The American Heart Association reported in 2016 that cardiovascular diseases account for 17.3 million deaths annually worldwide, with an estimated 23.3 million deaths expected by 2030, driving the demand for devices that provide timely diagnosis of cardiovascular disorders. Therefore, the significant reduction in labor cost, human error, and data loss offered by point-of-care data management systems, combined with the growing burden of chronic diseases, is a major factor that strengthens market growth.
Initiatives accelerating adoption of Electronic Health Records (EHR) is expected to drive market growth
Various organizations have taken initiatives to modernize healthcare infrastructure, such as the 2009 Health Information Technology for Economic and Clinical Health (HITECH) Act, which is driving the adoption of Electronic Health Records (EHR) in healthcare facilities. Additionally, in 2015, the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health IT (ONC) supported the concept of electronic health records-meaningful use [EHR-MU]. The goal of Meaningful Use is to ensure that certified EHR technology provides efficient electronic exchange of health information, which can improve the quality of care. However, the high capital investment required for the installation of web-based and on-premise data management systems and software can hinder their adoption to some extent. Furthermore, concerns about patient healthcare data and the high cost of data protection and privacy are also restraining the growth of the point of care data management systems market. Regular maintenance is required for data management systems to ensure uninterrupted operation and avoid issues during the work process. The Department of Information Strategy reported in 2013 that maintenance costs can range from US$1,000 to approximately US$4,000 annually, adding to the overall expenditure associated with the system.
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Abbott Laboratories, Danaher Corporation, F.Hoffman-La Roche Ltd., Orchard Software Corporation, Siemens Healthcare GmbH, Telcor, Inc., Thermo Fisher Scientific, Inc., Randox Laboratories Ltd., Hedera Biomedics Srl, and Seaward Electronic Ltd. are among the prominent players in the global market for point of care data management systems.
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➣ Outlook for the worldwide Point-of-Care (POC) Data Management Systems market in both developed and emerging markets, both now and in the future.
➣ Both the market segment with the largest projected share and the market segment with the highest CAGR throughout the projection period.
➣ Countries and regions anticipated to experience the fastest development throughout the projected period.
➣ The most recent innovations, market shares, and business tactics used by the key market participants.
➣ Study examines emerging market trends as well as the likelihood that various trends will impact expansion.
➣ Analysis also discusses the factors, challenges, and opportunities that will have a significant impact on the global Point-of-Care (POC) Data Management Systems industry.
➣ Research includes a detailed analysis of market statistics as well as historical and current growth conditions in order to provide futuristic growth estimates.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Point-of-Care (POC) Data Management Systems Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Point-of-Care (POC) Data Management Systems Industry Impact
Chapter 2 Global Point-of-Care (POC) Data Management Systems Competition by Types, Applications, and Top Regions and Countries
2.1 Global Point-of-Care (POC) Data Management Systems (Volume and Value) by Type
2.3 Global Point-of-Care (POC) Data Management Systems (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Point-of-Care (POC) Data Management Systems Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 6 East Asia Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 7 Europe Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 8 South Asia Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 9 Southeast Asia Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 10 Middle East Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 11 Africa Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 12 Oceania Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 13 South America Point-of-Care (POC) Data Management Systems Market Analysis
Chapter 14 Company Profiles and Key Figures in Point-of-Care (POC) Data Management Systems Business
Chapter 15 Global Point-of-Care (POC) Data Management Systems Market Forecast (2023-2030)
Chapter 16 Conclusions
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