Point-of-Care Data Management Software Market Driven By TELCOR, DataLink Software, Radiometer Medical ApS, Orchard Software

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

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 growth of the market is attributed to increasing incidences of infectious diseases and rise in lifestyle-related diseases, product launches and product development. Further, rapidly improving health care facilities and infrastructure in developing countries, increase in number of hospitals and diagnostics laboratories, and surge in health care budgets are projected to fuel demand for point of care data management systems during the forecast period.

Request for sample PDF Copy at: https://www.theinsightpartners.com/sample/TIPRE00017557/?utm_source=OpenPR&utm_medium=10144

However, operating challenges along with product recalls might hinder the market growth. Abbott, Siemens Healthineers AG, Telcor Inc., F. Hoffmann-la Roche Ltd., Orchard Software Corporation, Randox Laboratories Ltd., DataLink Software, LLC.,Radiometer Medical ApS, Thermo Fisher Scientific Inc., Medical Information Technology, Inc., and others.are among the major companies operating in the market.

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. The large share of this segment is attributed to factors such as the significant adoption of new technologies among researchers and academia technological advancements, growing diabetic patient population base. Moreover, presence of the various market players that are offering various products and rise in the technological advancement will further offer lucrative opportunities in the study period.

Moreover, increasing incidences of infectious diseases such as HIV is another major public health issue. For instance, In 2018, the World Health Organization (WHO) claimed that more than 32 million HIV people are diagnosed, out of which 7,70,000 people died. The global HIV/AIDS pandemic has resulted in 39 million deaths to date, and there are currently more than 35 million people living with HIV worldwide. Prevention, screening, and treatment strategies have led to significant progress in addressing these diseases globally. Also, increasing infectious diseases caused by several pathogens, such as malarial parasites; human immunodeficiency virus (HIV); human papillomavirus (HPV); dengue; Ebola; Zika viruses; and Mycobacterium tuberculosis (TB bacteria) has raised the demand for POC data management software.

To narrow down the diagnostic time, companies are developing a POC platform; for instance, RALS, a software introduced Abbott Laboratories used for data management in point-of-care testing, is used by more than 2,000 hospitals in the US. Unlike data management solution that uses a device-specific data manager between the device and their system . The software can manage all types of patient results, devices, operators, consumables, and reports. Moreover, POC can create and manage profiles by using a unique ID number, and patients can quickly access their health-related data, history of visits, insurance information, and more or make an appointment independently. Thus, the factors mentioned above are likely to boost the growth of the market.

The report segments global 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

Place a Purchase Order to Buy a Complete Copy of this Report @ https://www.theinsightpartners.com/buy/TIPRE00017557/?utm_source=OpenPR&utm_medium=10144

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

This release was published on openPR.