Point of Care Technology Market – Top Players Transforming the Healthcare Industry are Abbott, Johnson & Johnson, Techno MedicaCo, Hoffmann-La Roche, PTS Diagnostics during 2018-2023

The point of care technology market is growing mainly due to rising cases of chronic diseases. According to a recent study report published by the Market Research Future, the point of care technology market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).

Point-of-care testing allows patient diagnosis, in an ambulance, the home, the field, or in the hospital. The results of care are timely, and allow rapid treatment to the patient. Point of care technology market is growing rapidly due to the evolving healthcare industry, especially in developing nations. Point of care documentation devices smooth the workflow, reduces errors in a clinical tasks including diagnostics, medication prescribing, and medication administration, which will indirectly boost the growth of the market.

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Notably, rising prevalence of chronic diseases is the primary driver for point of care technology market. Epidemic of obesity, socioeconomic transitions, nutrition transitions, and rapid urbanization are promoting the rising prevalence of most of the diseases. According to WHO, global prevalence of diabetes has risen from 4.7% to 8.5% in 2014. It is also estimated that around 1.6 million deaths have been occurred in 2015 due to diabetes worldwide. The rising prevalence of diabetes in low and middle-income countries appears to be fuelled by nutrition transition, rapid urbanization, and increasingly sedentary lifestyles, suggested by a study published in Pharmacoeconomics in 2015.

Other push factors such as, rising technological advancements, increasing awareness among the people, rising healthcare expenditure, changing reimbursement policies, and growing geriatric population are also fuelling the growth of the market. Point of care blood gas and electrolyte analysers is one of the innovative concepts that is introduced in the field of critical care settings to deliver decentralized, patient-centric health care to the patients. These devices are playing an important role in the field of healthcare and help in reducing therapeutic turnaround time, enhance patient satisfaction, accuracy, and quick test, and help to improve hospital operations. This new technology provides smaller handheld devices with advancements in diagnostic sensors. According to the data suggested by Eurostat, it is observed that among the EU Member States, the highest value of healthcare expenditure was recorded in Germany in 2014 i.e. EUR 321 billion which is further followed by France with EUR 237 billion, and United Kingdom with EUR 223 billion.

Top Players in Point of Care Technology Market:

Some of the key players in this market are Abbott (U.S.), Johnson & Johnson Services, Inc.(U.S.), Techno MedicaCo., Ltd. (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens AG (Germany), Alere Inc. (U.S.), Instrumentation Laboratory (U.S.), PTS Diagnostics (U.S.), Nova Biomedical (U.S.), Beckman Coulter, Inc. (U.S.) BD (U.S.), Quidel Corporation (U.S), Meridian Bioscience, Inc. (U.S).

Market Segmentation of Point of Care Market:

The global point of care technology is segmented by type of products, and end users. On the basis of type of product, it is segmented into glucose testing, cardiac markers, HbA1c testing, and coagulation, and others. On the basis of end users, it is segmented into clinics, hospital, home care, ambulatory care, and others.

Regional Analysis of Point of Care Market:

On the regional basis, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas own a significant share in the global market as a result of huge investment and its strong economic conditions which favor the research and development of the healthcare sector. Increasing number of surgeries along with rising demand for point of care technology products is predicted to boost the growth of the market.

Europe is the second largest point of care technology market followed by Asia Pacific on account of growing importance of research in healthcare sector which inturn is increasing investment in research and development activities. Asia Pacific market shows the fastest growth due to increasing prevalence of communicable diseases and demand for more diagnostics. Additionally, India and China have started investing in research and development of healthcare domain.

The Middle East & Africa holds the least share in the global point of care technology market since poor economic condition and less development in medical facilities.

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Some of Major Table of Content for Point of Care Market:

Table Of Contents

1 Report Prologue

2 Market Introduction

2.1 Introduction
2.2 Scope Of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations

3 Research Methodology

3.1 Research Process
3.2 Primary Research
3.3 Secondary Research

4 Market Dynamics

4.1 Drivers
4.2 Restraints

TOC Continued….!

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