The glucose monitoring product segment by application is estimated to lead the market growth during the forecast period.
According to this study, the Asia Pacific point-of-care data management software market is expected to reach US$ 193.01 million by 2027 from US$ 94.33 million in 2019; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific point-of-care data management software market and the factors driving market along with those that act as hindrances.
The Asia Pacific point-of-care data management software market, based on application was 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 is registering the highest CAGR in the market during the forecast period. 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.
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.
Abbott, Siemens Healthineers AG, F. HOFFMANN-LA ROCHE LTD., Randox Laboratories Ltd, Radiometer Medical ApS, THERMO FISHER SCIENTIFIC INC., and Medical Information Technology, Inc. are among the leading companies operating in the Asia Pacific point-of-care data management software market.
The report segments in Asia Pacific point-of-care data management software market as follows:
By Application
By End User
By Country
According to this study, the Asia Pacific point-of-care data management software market is expected to reach US$ 193.01 million by 2027 from US$ 94.33 million in 2019; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific point-of-care data management software market and the factors driving market along with those that act as hindrances.
The Asia Pacific point-of-care data management software market, based on application was 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 is registering the highest CAGR in the market during the forecast period. 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.
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.
Abbott, Siemens Healthineers AG, F. HOFFMANN-LA ROCHE LTD., Randox Laboratories Ltd, Radiometer Medical ApS, THERMO FISHER SCIENTIFIC INC., and Medical Information Technology, Inc. are among the leading companies operating in the Asia Pacific point-of-care data management software market.
The report segments in Asia Pacific point-of-care data management software market as follows:
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
Frequently Asked Questions about the Asian Pacific Point-of-Care Data Management Software Market
What is the estimated value of the Asian Pacific Point-of-Care Data Management Software Market?
What is the growth rate of the Asian Pacific Point-of-Care Data Management Software Market?
What is the forecasted size of the Asian Pacific Point-of-Care Data Management Software Market?
Who are the key companies in the Asian Pacific Point-of-Care Data Management Software Market?
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Point-of-Care Data Management Software Market- Market Landscape
5. Asia Pacific Point of Care Data Management Software Market - Key Industry Dynamics
6. Point-of-Care Data Management Software Market - Asia Pacific Analysis
7. Point-of-Care Data Management Software Market Analysis- by Application
8. Point-of-Care Data Management Software Market Analysis- by End User
9. Point-of-Care Data Management Software Market - Asia Pacific Analysis
10. Impact of COVID-19 Pandemic on Point-of-Care Data Management Software Market
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Abbott
- Siemens Healthineers AG
- F. HOFFMANN-LA ROCHE LTD.
- Randox Laboratories Ltd
- Radiometer Medical ApS
- THERMO FISHER SCIENTIFIC INC.
- Medical Information Technology, Inc.
