April 18, 2024

Point Of Care (Poc) Data Management Systems Is In Trends By Increasing Adoption Of Cloud Based Solutions

The point of care (PoC) data management systems are specially designed data management platforms that help clinicians and healthcare providers streamline patient care at the point of initial assessment or medical care. PoC data management systems enable real-time management and analysis of patient health records from diverse sources like electronic health records (EHR), laboratory information systems (LIS), pharmacy systems and others. This helps clinicians make faster and informed clinical decisions at the point of care. The global adoption of electronic health records and mobile healthcare apps has driven the need for advanced data management solutions like PoC data management systems to effectively collect, integrate and analyze critical patient healthcare data across the care continuum.

The Global Point of Care (PoC) Data Management Systems Market is estimated to be valued at US$ 86.17 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the point of care (PoC) data management systems market are Amazon, Walmart, Ebay, Macys, Gap, Nike, Target, Nordstrom, JCPenney, Kohls, Wayfair, Best Buy, Home Depot, Sephora, Ulta Beauty, Forever 21, H&M, Zara, Urban Outfitters, ASOS. The growing adoption of digital technologies in healthcare facilities along with rising need to enhance clinical decision making is fueling the demand for PoC data management systems globally. Additionally, increasing investments by major healthcare IT companies for development of advanced cloud-based PoC data management platforms is further augmenting the market growth.

The growing demand for integrated healthcare solutions to improve patient outcomes along with government initiatives for adoption of EHR and mobile health technologies across major countries is driving the adoption of PoC data management systems. Furthermore, increasing focus on value-based care is prompting healthcare providers to incorporate data-driven medical care delivery models using PoC data management platforms.

The global PoC data management systems market is witnessing rapid expansion with increasing penetration of healthcare IT solutions across emerging nations in regions like Asia Pacific, Latin America and Middle East & Africa. Moreover, growing collaborations between data management platform providers and healthcare facilities in developing countries is further expanding the reach of PoC data management systems globally.

Market key trends

One of the major trends gaining traction in the Point Of Care (Poc) Data Management Systems Market Size is increasing adoption of cloud-based solutions. Legacy on-premise PoC platforms were complex and expensive to maintain which restricted their adoption, especially in resource constrained settings. However, cloud-based PoC data management systems provides equal access to critical patient data to all care teams while eliminating infrastructure and IT management costs. This has boosted their adoption across small, medium and large healthcare facilities globally. Furthermore, cloud platforms ensure secure collaboration and data sharing between decentralized healthcare teams in cost-effective manner.

Porter’s Analysis

Threat of new entrants: High capital requirements for production and manufacturing act as a deterrent for new players. Moreover, the presence of established players make it difficult for new entrants due to competitive pricing and customer loyalty for brands.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various product options from different brands in the market. However, switching costs are low.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to differentiation in quality and technology. The industry depends on unique component manufacturing.

Threat of new substitutes: Threat of new substitutes is moderate as there are products that cater to similar use cases but focus on different value propositions and features.

Competitive rivalry: The market is highly competitive due to presence of major global players. Players compete on pricing, product differentiation, innovation and customer experience.

Geographical regions with highest market share

North America accounts for the largest share of the point of care (PoC) data management systems market due to early adoption of technology and presence of major players in the US. Europe is the second largest market driven by ongoing digital healthcare infrastructure development projects across countries.

Fastest growing geographical region

Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing healthcare expenditure, large patient pool and government initiatives to promote digital healthcare adoption in countries like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it