Increasing Prevalence of Chronic Diseases and Lifestyle-related Disorders
The increasing global prevalence of chronic and lifestyle-related disorders is one of the primary factors which is propelling the critical care diagnostics market. The chronic diseases majorly include cardiovascular diseases, cancer, stroke, infectious diseases, lung disorders, diabetes, chronic kidney diseases, and liver diseases. In case of diabetes, a significant percentage of intensive care units (ICUs) admissions include patients with unknown diabetes cases showing a high percentage of hyperglycemia, insulin infusion, and blood glucose. In developed regions such as North America, the prevalence of chronic obstructive pulmonary disease (COPD) is high, followed by asthma, which require frequent critical care diagnosis or hospitalizations. Similarly, a wide range of chronic diseases need critical care, particularly in the case of elderly patients.
Other factors driving this market are the rising awareness among people for early diagnosis and treatment, rise in the use of data management and connectivity through interoperability to electronic health record (EHR), and rising adoption of telehealth services and remote communications.
High Cost of Molecular Diagnostics Tools
The high costs related to molecular diagnostics tools and treatment restricts the growth of the critical care diagnostics market. The hospitals and other healthcare facilities are spending a high percentage of the amount for the molecular tests and tools maintenance including the associated research laboratories. Moreover, the development and clinical validation of molecular diagnostic clinical tests require high level of regulations as a drug development which limits the use of molecular diagnostics despite its potential use in critical care and precision medicine.
Another factor impeding this market is the lack of skilled professionals in handling the critical care diagnostics in hospital settings.
United States to Dominate the Market
The United States is one of the primary markets for critical care diagnostics, and is expected to sustain its dominance over the forecast period. According to the Society of Critical Care Medicine, United States, an estimated six million patients are admitted annually in ICUs for invasive monitoring which includes 20% of acute care admissions and 58% of emergency departments, all needing frequent high technological support. The rise in the awareness among people for early diagnosis adds to the rise in demand for critical care diagnostics market.
Key Developments in the Market
- April 2018 - Beckman Coulter Diagnostics announced commercialization of its access sensitive estradiol in the United States for detecting estradiol levels in women, children, and men.
- January 2018 - GE Healthcare entered into the strategic, long-term partnership with Roche to jointly develop digital clinical decision support solutions for cancer and critical care patients.
Reasons to Purchase the Report
- Current and future of the global critical care diagnostics market outlook in the developed and emerging markets.
- Analysis of various perspectives of the market with the help of Porter’s Five Forces Analysis.
- The segment that is expected to dominate the market.
- Regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support, along with the Market Estimate sheet (in Excel).
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry
6. Market Dynamics
6.1.1 Rise in the Prevalence of Chronic Diseases and Lifestyle-related Disorders
6.1.2 Increase in Data Management and Connectivity through Interoperability to Electronic Health Record (EHR)
6.1.3 Rising Demand for Early Diagnosis and Treatment
6.1.4 Rising Adoption of Telehealth Services and Remote Communications
6.2.1 High Cost of Molecular Diagnostics Tools
6.2.2 Lack of Skilled Professionals
6.4 Key Challenges
7. Market Segmentation
7.1 By Test Type
7.1.1 Flow Cytometry
7.1.2 Hematology Tests
7.1.3 Microbial and Infectious Test
7.1.4 Coagulation Tests
7.1.5 Blood Glucose Tests
7.2 By End User
7.2.1 Operating Rooms
7.2.2 Emergency Rooms
7.2.3 Intensive Care Units
7.3 By Geography
7.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
7.3.4 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of MEA
7.3.5 South America
188.8.131.52 Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.2 Bayer AG
9.3 Becton, Dickinson & Company
9.4 bioMérieux SA
9.5 Bio-Rad Laboratories, Inc.
9.6 Chembio Diagnostic Systems, Inc.
9.8 F. Hoffmann-La Roche
9.9 Siemens Healthineers
9.10 Sysmex Corporation
*List not Exhaustive
10. Future of the Market