Point-of-Care Data Management Software Market Size, Share & Trends Analysis Report By End-User (Hospitals/Critical Care Units, Diagnostic Centers, Clinics/Outpatient), By Applications (Infectious Disease Devices, Glucose Monitoring, Coagulation Monitoring, Urinalysis, Cardiometabolic Monitoring, Cancer Markers, Hematology, Other POC Applications) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global point-of-care data management software market size was valued at USD 550 million in 2021. It is expected to reach USD 1,410 million by 2030, growing at a CAGR of 12.5% over the forecast period (2022 – 2030).

Point-of-care (POC) technology includes systems and devices that help medical professionals facilitate their efforts to monitor and deliver patient care and document their health status. Rapid diagnosis of clinical conditions through point-of-care (POC) testing can shorten care time and enhance patient outcomes. By reducing waiting times, point-of-care technologies allow hospitals and clinics to devote more time and resources to developing equipment that will speed up patient flow through the facility. The increased need for point-of-care testing (POCT) results from the healthcare industry's value shift and technological advancements. The rise in infectious diseases, lifestyle-related ailments like diabetes and cardiac problems, patient demand for home-use POCT devices, and technology developments are boosting demand for POCT.

Market Dynamics

Global point-of-care data management software market drivers

Innovation in flexible connectivity and software interface solutions

Any POC deployment relies heavily on linking off-site POC hardware to a centralized data management system. Integration, coordination, and data administration are crucial for POCT quality assurance. Data management ensures patient records' accuracy, which also cuts down on mistakes made during transcription. POC testing managers at clinics, hospitals, and physician offices are integrating their equipment with a data management solution to lower transcription errors and better manage data, quality control, and operators, which improves patient care. Vendors also offer such solutions, thereby positively driving the market's growth. Orchard provides several deployment options depending on the facility's specific needs. The flexibility of Orchard's suite of products offers a variety of ways to meet POCT management and connectivity needs.

Rise in healthcare infrastructure budgets

With global healthcare spending predicted to grow, the market will likely witness many opportunities. The growing and aging population, increasing prevalence of chronic diseases, infrastructure investments, technological advancements, evolving care models, higher labor costs amid workforce shortages, and expanding healthcare systems in developing markets contribute to healthcare spending worldwide.

Among OECD member countries, the United States registered the highest percentage of gross domestic product spending on healthcare in 2018. The United States spent nearly 17% of its GDP on healthcare services. Switzerland, France, and Germany followed the United States with distinctly smaller percentages. The increased budget allocation aid the growth of the healthcare sector. Robust infrastructure, access to diagnostics, comprehensive healthcare policy, and tax incentives are some of the expectations of the healthcare industry from this budget.

Global point-of-care data management software market restraint

High deployment costs and operational challenges

Point-of-care testing is performed by clinical staff rather than laboratory-trained individuals, which can lead to errors resulting from the lack of understanding of the importance of quality control and quality assurance practices. Additionally, POCT is usually more expensive than testing performed in the central laboratory and needs considerable support from the laboratory to ensure quality testing while meeting the accreditation requirements.

There are many hidden costs to point-of-care testing that are often not considered by the clinical areas, including reagents for validating instruments, quality control materials, and proficiency testing costs. The prices of medical laboratory technologists required to offer support of the quality assurance system for POCT and information system/information technology staff that are instrumental in supporting POCT connectivity platforms also need to be considered. Furthermore, creating the interface between POCT software or devices to the laboratory information system and electronic medical record (EMR) is also associated with cost. The connectivity needed to get POCT results into the EHR fast enough to effect a change in patient care is challenging.

Global point-of-care data management software market opportunities

Rapid testing and decentralized healthcare

The outlook of decentralization becomes stronger, considering the positive momentum of the POC testing system. POC testing is becoming increasingly well-liked in Southeast Asia as customers realize the devices' significant benefits, particularly the accessibility to early diagnosis. Remote testing is feasible, which fits the market and satisfies various medical requirements in the developing world. Additionally, in Southeast Asia, insurance companies are helping consumers to adopt newer technology and decentralized care to manage the healthcare budget better. The COVID-19 experience exposed significant deficiencies and inflexibility in the facility-based healthcare system. This crisis created a unique opportunity to transform the healthcare delivery system that would be co-created with hospitals and depend on a new, more decentralized paradigm supported by technology and advanced logistics. Government regulations and steps to offer diversified diagnostic approaches are expected to create opportunities. Rapid Acceleration of Diagnostics (RADx) is a COVID-19 test development and dissemination procedure program. The National Institutes of Health announced that it would be paying up to USD 500 million for developing novel SARS-CoV-2 diagnostic tests as part of this program. As a result, it is anticipated that these changes would provide opportunities in the market.

Regional Analysis

North america dominates the market

By region, the global point-of-care data management software market is segmented into North America, Europe, Asia-Pacific, and LAMEA. 

North America is the most significant market shareholder and is expected to grow at a CAGR of 11.8% during the forecast period. In the United States, point-of-care testing (POCT) has been used for many years to diagnose and track acute and chronic medical disorders. The industry may undergo significant change in the coming years due to the increased availability of quick tests for identifying infectious diseases such as HIV, tuberculosis, and malaria, allowing doctors and patients to view the results from a smartphone and make informed treatment decisions. The newest advancements in the diagnostics sector are driving the point-of-care diagnostics market in the US, as they allow for a quicker diagnosis and prompt clinical findings to support treatment plans.

According to the Centers for Disease Control and Prevention, chronic lower respiratory disorders, such as COPD and asthma, are the fourth-leading cause of death in the United States, accounting for more than 160,000 fatalities yearly. Governments tend to embrace POC more frequently as point-of-care testing decreases ER wait times and visits while easing the burden on hospital resources. The vast majority of POC tests created are intended to find infectious illnesses. For instance, the National Institute of Biomedical Imaging and Bioengineering's Point of Care Technologies Research Network has sped up the development of POC diagnostics and testing products. Favorable laws like the Clinical Laboratory Improvement Amendments (CLIA) regulations encourage POC testing over other types.

Europe is expected to grow at a CAGR of 13.6%, generating USD 360 million during the forecast period. The healthcare system in Germany is evolving rapidly due to the adoption of digitization. Also, increasing government support, coupled with several initiatives by companies in the industry, is expected to boost the adoption of point-of-care data management software in the country. For instance, the Ministry of Health in Germany recently launched the Health Innovation Hub initiative, enabling the ministry to drive the digital transformation of Germany's healthcare system. Also, Germany's recent Digital Care Act is expected to create new opportunities for the healthcare industry in Europe to accelerate efforts to digitize and innovate. The deployment of cloud-based solutions in the healthcare industry is expected to be a significant catalyst for adopting software-based solutions. For instance, Brainlab acquired the provider of modular, cloud-based, patient-centered outcomes platform, VisionTree Software Inc. The established ePRO solution will complement the Brainlab cloud-based infrastructure and registry solution aiming to deliver patient engagement and even more comprehensive quality reporting.

The growth of the Chinese pharmaceutical industry and growing research in the field of genomics are driving the market's growth in Asia-Pacific. Organizations are partnering, accelerating the market adoption of point-of-care data management software. In December 2019, Biosero Inc. teamed with RORZE Lifescience Inc., a subsidiary of Rorze Inc., to commercialize its Green Button Go Automation Scheduling Software in Japan via its joint venture with Rorze ResMed Lifescience Co., Ltd. The demand for point-of-care data management software is increasing rapidly in the country owing to the growing laboratory research in terms of drug development. Moreover, China has been at the forefront of POC testing, driving the market's growth in the region.

Segmental Analysis

The global point-of-care data management software market is segmented by end-user, application, and region. 

On the basis of end user

By end user, the global point-of-care data management software market is segmented into hospitals/critical care units, diagnostic centers, and clinics/outpatients.

Hospitals/essential care units account for the largest market share and are expected to grow at a CAGR of 11.7% during the forecast period. In hospitals, where the significance of real-time electronic reporting of findings is increasing, the use of point-of-care testing (POCT) and electronic medical records systems is rising. As the needs of the industry change, POCT data management systems are adapting to accommodate the adoption of such a paradigm. The web-based connection data management platform offers considerable efficiencies in managing point-of-care testing programs throughout an entire hospital, from one campus to another, or even from one state or province to another. The fact that POC (point-of-care) technology is available at the bedside is its most significant feature. Better healthcare results result from the employment of POC technology in enabling and enhancing interactions between patients and their nurses, doctors, and surgeons.

With various laboratorians and others focusing on patient diagnosis and monitoring, the trend is changing the way patient testing is viewed, especially how healthcare providers view testing performed at the point of care (POC). According to the WHO, 17.9 million people die annually from cardiovascular disease (CVD), which is responsible for 31% of all fatalities. According to data from the American Heart Association, around 2,300 Americans pass away from cardiovascular disease daily or every 38 seconds.

On the basis of application

By application, the global point-of-care data management software market is segmented into infectious disease devices, glucose monitoring, coagulation monitoring, urinalysis, cardiometabolic monitoring, cancer markers, hematology, and other POC applications.

Infectious disease devices account for the largest market share and are expected to grow at a CAGR of 13.7% during the forecast period. The invention and implementation of inexpensive, rapid tests and devices that may be used at the POC to screen for HIV and TB and guide malaria treatment have reduced morbidity and death in the developing world, where lab services are restricted. Such factors contribute to market growth.

Healthcare professionals use point-of-care glucometers at the bedside to facilitate rapid treatment decisions for hospitalized patients experiencing critically high or low BG levels. Also, considering the growing demand for advanced POC testing devices and the need to popularize accurate diabetes management practices, the major market players are launching improved blood glucose monitoring devices to make the testing experience hassle-free and convenient. In addition, well-known companies in technology and e-commerce are getting into the point-of-care testing business to ease patients' financial burdens and bring more affordable diabetes supplies directly to their homes. Launching digitally connected blood glucose testing systems and easy access to these sophisticated devices are set to boost the growth prospects of the point-of-care testing industry.

Recent Developments

• July 2022 - Siemens Healthineers showed its refreshed Acuson family at this year's European Congress of Radiology in Vienna. The updated ultrasonic portfolio is intended to solve issues in various clinical applications and provide even more clinical versatility.
• July 2022 - Siemens Healthineers presented 3D imaging integrated with endoluminal robotics for precise transbronchial lung biopsy.