The point-of-care data management software market was valued at US$ 446.54 million in 2019 and it is projected to reach US$ 855.54 million by 2027; it is expected to grow at a CAGR of 8.6% during 2020–2027. The market is primarily driven by increase in adoption of POC devices by hospitals and laboratories. Increase in geriatric population, high incidence of chronic as well as infectious diseases, and rise in awareness among people about preventive health care has led to high demand for point of care testing devices across the world. However, operating challenges along with product recalls might hinder the market growth.
Managing patient’s test data and recording it for later use has always been tedious for medical professionals.Therefore, several companies have developed point-of-care data management software to overcome the challenges faced by medical professionals in maintaining patient’s records.
Hence, the facilities that point-of-care data management software provides, including recording, storage, and viewing records from multiple devices, have boosted the demand for point-of-care data management software market.
The global point-of-care data management software market is segmented on the basis of application, and end user.Based on application, the global point-of-care data management software market is bifurcated into infectious disease devices, glucose monitoring, coagulation monitoring, urinalysis, cardiometabolic monitoring, cancer markers, and hematology.
The glucose monitoring segment held a larger share of the market in 2019.Whereas, the cancer markers segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on end-user, the global point-of-care data management software market is bifurcated into hospitals/critical care units, diagnostic centers and clinics/outpatient. The hospitals/critical care units segment held a larger share of the market in 2019 and the same segment is anticipated to register a higher CAGR in the market during the forecast period.
Center for Patient and Consumer Engagement, Society for Participatory Medicine, Association for Patient Experience, Institute of Patient and Family Centered Care, Patient Engagement Advisory Committee, and American Association of Healthcare Administrative Management (AAHAM) are a few of the primary and secondary sources referred to while preparing the report on the point-of-care data management software market.
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