Access to diagnostic services is more difficult in rural or underdeveloped locations than in urban areas.
Point of Care Diagnostics Market Overview:
Access to diagnostic services is more difficult in rural or underdeveloped locations than in urban areas. Primary care physicians are demanding access to modern diagnostic tools so that testing can be done in the clinics during the visits and readily integrated into existing workflows, thus improving the demand for point-of-care (POC) diagnostics in the market. According to Allied Market Research, the global point-of-care (POC) diagnostics market is anticipated to grow at a significant CAGR from 2021 to 2030. Market participants are employing a variety of techniques to increase access to healthcare by removing roadblocks.
Market players are adopting strategic partnerships to offer advanced diagnostic tools and expand their connected care diagnostics. Baxter International Inc. and Digital Diagnostics have recently introduced a long-term strategic collaboration to assist front-line care providers in offering high-quality care and enhancing care outcomes. With the collaboration, the companies aim to provide Digital Diagnostics’ industry-leading IDx-DR® autonomous AI software integrated with the Welch Allyn® RetinaVue® 700 Imager as a diagnostic service. IDx-DR is an autonomous AI diagnostic system developed by Digital Diagnostics for the detection of diabetic retinopathy at the point of care. Artificial intelligence combined with Baxter’s devices can provide practitioners with a detailed idea of what’s going on with their patients, revealing information that’s essential for treatment strategies.
Market players are investing in the development of advanced self-check health care products for improving health monitoring. MFine, India’s largest digital health platform, recently unveiled a ground-breaking innovation by integrating Blood Pressure (BP) and Glucose Monitoring into a smartphone. MFine introduced blood pressure and glucose monitoring to its range of self-check health products in an industry-first breakthrough, removing the need for any external devices to measure and manage these health vitals.
A few weeks ago, the beta version of this blood pressure monitoring tool was launched, has already been utilized by over 10,000 people, and is collecting thousands of readings every day from people all around the country. The glucose monitoring technology, which MFine is presently testing with prominent hospitals, is anticipated to go live in the coming weeks. MFine is developing several next-generation AI technologies that turn any smartphone into a rich diagnostics and vitals monitoring device, with the goal of providing an integrated care experience for its consumers.
The quality of care which people receive from healthcare providers is expected to increase significantly with the extension of vitals monitoring and measurement to smartphones. Upcoming advancements in point of care diagnostics will improve the diagnosis and testing in the healthcare industry even more.
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Top Leading Players:
- Johnson and Johnson
- sysmex corporation
- Nova Biomedical
- Danaher Corporation
- Becton Dickinson and Company
- bioMrieux SA
- Abbott Laboratories
- Siemens AG
- Hoffmann La Roche Ltd
- Sinocare Inc.
Covid-19 scenario-
Here, it’s worth stating that the outbreak of the pandemic led to a steep decline in the number of elective surgeries in the majority of countries. Most of the surgeries were either delayed or postponed so as to contain the spread of the virus, especially during the initial phase, thereby impacting the market negatively. However, the market is projected to revive really soon.