Asia Pacific Point-of-Care Data Management Software Market Opportunities by 2027

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.

Point-of-care (POC) data management software is a platform used in various critical care settings in the hospital, such as intensive care unit (ICU), operating room (OR), and emergency department (ED). It facilitates the patients' health data management and analysis. 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 market has been negatively impacted due to the outbreak.

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

By Application

•  

Glucose Monitoring

•   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.

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