Asia Pacific Point-of-Care Data Management Software Market

Market Introduction

Point-of-Care (POC) devices are described as medical diagnostic devices used for testing at or near the point of care, at time and place of patient care. The purpose of POCT is to provide immediate information to physicians about the patient's condition. Point-of-care data management software is a platform that is used in various locations in the hospital, in critical care settings such as the intensive care unit (ICU), the operating room (OR), and the emergency department (ED). It facilitates the patients' health data management and analysis.

Asia Pacific Point-of-Care Data Management Software Strategic Insights

Strategic insights for the Asia Pacific Point-of-Care Data Management Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Point-of-Care Data Management Software Report Scope

Asia Pacific Point-of-Care Data Management Software Regional Insights

The geographic scope of the Asia Pacific Point-of-Care Data Management Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Asia Pacific point-of-care data management software market is expected to reach US$ 193.01 million by 2027 from US$ 102.28 million in 2020; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. The growth of the market is attributed to increasing initiatives for the adoption of electronic health records, and rising incidence of infectious diseases and lifestyle-related diseases. However, the high cost of point-of-care data management systems hinders the market growth.

Initiatives taken by various organizations to transform the healthcare infrastructure, such as the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, are increasing the adoption of electronic health records (EHR) in healthcare facilities. Moreover, 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). Meaningful use is attributed to ensure certified EHR technology, which provides the efficient electronic exchange of health information, thus improving the quality of care. Additionally, as healthcare data analytics is more commonly used to support patient-centred care and population health management, it is essential to have POCT results electronically integrated to include results tracking metrics and key performance indicators. Additionally, according to the Japanese Nursing Association survey, from September to October in 2019, around 63% of the hospitals in Japan implemented the system of EHR. The government in the country has been promoting the system's use since the beginning of the 2000s. Hence, rising government initiatives and rapid diagnosis of clinical conditions through point-of-care testing (POCT) support the growth of the market. Moreover, factors such as the increasing number of contagious diseases, rising incidence of lifestyle-related diseases (cardiac diseases and diabetes), growing demand for quick services, and surging technological advancements drive the need for POC data management software.

Countries in Asia Pacific are facing challenges due to increasing incidence of COVID-19. However, the outbreak has severely affected the medical devices and software industry and disrupted supply chain. Moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. However, in this scenario, patients receiving treatment for cancer, diabetic, or cardiology are not being treated on priority. Apart from overall health system, the point-of-care data management software has been negatively impacted due to the outbreak.

Key Market Segments

The Asia Pacific point-of-care data management software market, based on application, is segmented into infectious disease devices, glucose monitoring, coagulation monitoring, urinalysis, cardiometabolic monitoring, cancer markers, and hematology. In 2019, the glucose monitoring product segment held the largest share of the market. However, the cancer markers segment would register the highest CAGR in the market during the forecast period.

The Asia Pacific point-of-care data management software market, based on end user, is segmented into hospitals/critical care units, diagnostic centres, and clinics/outpatient. In 2019, the hospitals/critical care units segment held the largest share of the market. The market for the same segment is expected to grow at the fastest rate during the coming years.

Major Sources and Companies Listed

A few of the primary and secondary sources referred to while preparing the report on the Asia Pacific point-of-care data management software market are the Australian Cancer Research Foundation (ACRF), Korean Diabetes Association (KDA), Centers for Disease Control and Prevention (CDC), and National Institute of Allergy and Infectious Diseases (NIAID.

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of Asia Pacific point-of-care data management software market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different addictions therapeutics segments in the top spending countries and identify the opportunities offered by each of them.
• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the Asia Pacific point-of-care data management software market, providing a clear picture of future opportunities that will help Analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Asia Pacific point-of-care data management software market.

ASIA PACIFIC POINT-OF-CARE DATA MANAGEMENT SOFTWARE MARKET SEGMENTATION

By Application

•  

•   Hematology

•   Cardiometabolic Monitoring

•   Infectious Disease Devices

•   Coagulation Monitoring

•   Cancer Markers

•   Urinalysis

•   Others

By End User

• Hospitals/Critical Care Units
• Diagnostic Centers
• Clinics/Outpatient

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Company Profiles

• Abbott
• Siemens Healthineers AG
• F. HOFFMANN-LA ROCHE LTD.
• Randox Laboratories Ltd
• Radiometer Medical ApS
• THERMO FISHER SCIENTIFIC INC.
• Medical Information Technology, Inc.