Point of care (PoC) data management systems allow near-patient or bedside capture and real-time evaluation of patient data. PoC systems enable physicians and nurses to access patient health records and test results on mobile devices at the point of care. This eliminates the need to transport patients for tests or bring back test results, thereby improving clinical workflows and decision making. PoC systems integrate with electronic health records (EHR) and laboratory information systems (LIS) to synchronize clinical and diagnostic data across the care delivery process. They facilitate interoperability between disparate healthcare systems, allowing seamless data sharing.
The global Point Of Care (Poc) Data Management Systems Market is estimated to be valued at US$ 6.2 Billion in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Transition to cloud-based PoC solutions is one of the key trends witnessed in the PoC data management systems market. Cloud-based PoC systems offer benefits such as simplified deployment and ongoing maintenance, scalability, flexibility, enhanced data security, and real-time data availability. They alleviate the need for on-premise servers and storage, reducing upfront capital expenditures for healthcare providers. Major players are focusing on developing secure cloud-based platforms to address data storage, organization, and accessibility challenges faced by physicians. For instance, Siemens Healthineers provides PoC data management via its syngo.via platform, which allows clinicians to access patient information using a web browser from any location.
Threat of new entrants: Low as this is an established market dominated by major players. Significant capital requirements and comprehensive compliance requirements provide protection to incumbents.
Bargaining power of buyers: Moderate. The presence of many players makes buyer explore multiple options and demand better pricing and features.
Bargaining power of suppliers: Low. The market has many device and software suppliers providing standardized or customized solutions. Switching costs are low.
Threat of new substitutes: Moderate. Alternatives like fully integrated devices provide substitutes but lack flexibility. Technologies focusing on centralized data management also provide some substitution.
Competitive rivalry: High. Major global players compete on the basis of technological advancements, product differentiation, pricing and service quality.
The global Point of Care (PoC) Data Management Systems market is expected to witness high growth.
Regional analysis: North America holds the largest share currently primarily due to increased usage of advanced medical devices, digitization of patient health records and patient-centric care models. Asia Pacific is poised to grow at highest CAGR during the forecast period supported by rising healthcare spending, increasing focus on quality care and growing medical tourism.
Key players: Key players operating in the Point of Care (PoC) Data Management Systems market are Siemens Healthcare GmbH, HemoCue, Abbott, Radiometer Medical ApS, TELCOR Inc., Thermo Fisher Scientific Inc., Randox Laboratories Ltd., Hedera Biomedics SRL, and F. Hoffmann-La Roche AG.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it