Healthcare publisher, Kalorama Information, shares insights from its latest report on point-of-care (POC) diagnostic testing
ARLINGTON, Va., May 6, 2022 /PRNewswire-PRWeb/ — A new report from market researcher Kalorama Information confirms what many industry players have been predicting for years: Tests that can provide results at the point of care will see a market opportunity and uptake rate. growth more important than laboratory tests. The market research firm, part of the Science and Medicine group, said that in 2021 the POC market reached $41,149 million.
The company notes that the large market could be a temporary total depending and could decline depending on how demand for COVID-19 tests changes; However, the market remains significant along with the growth rate as the POC trend affects many segments including glucose, urinalysis, and hematology.
“If you can get a result where it can make a difference, you add value that, at least across all products, circumvents the price pressure of lab testing.” mentioned Bruce Carlson, SVP of Publications for Science and Medicine. “COVID-19 was obviously a definite plus for POC, but the applications are not limited to COVID only.”
Diagnostic tests performed outside the central laboratory or decentralized tests are generally referred to as point-of-care (POC), including rapid tests. POC tests are performed on-site at a medical facility, while rapid tests can be performed in various types of medical settings or at home.
Kalorama analysts undergo detailed analysis of financial reports, medical journals and government data dn for two decades have made forecasts on the IVD markets. projects that from 2023 to 2026, point-of-service technologies will grow nearly 8% in revenue per year. This compares to 2-3% growth in the IVD market.
The firm also notes:
Watch Wearable POC Test Devices: It is expected that the first wearable diagnostic devices will use what have been called smart watches. The most advanced in this area is Apple’s Apple Watch, with its integrated health and fitness apps and HealthKit app development platform. Not only does HealthKit provide a set of tools for Apple Watch app developers, it also serves as a cloud-based repository for patient-generated health data. It allows Apple Watches to collect and transfer data between compatible apps, to home health monitoring devices, and to physician and hospital EHRs. Google Fit runs on the Android phone operating system and is also courting EHR vendors and app developers who want to take advantage of its repository of self-generated patient health information.
Kalorama notes that in December 2015, Google has filed a patent potentially leading to a watch that can draw blood without a needle. This could have medical implications for patients with diabetes and other conditions where blood draws are a necessity. The proposed device would draw a tiny drop of blood through a tiny particle fired at high speed through the skin, without the wearer even really feeling the blood draw. Gentag (washington d.c.) has been developing wearable biosensors for remote patient monitoring (RPM) for at least 10 years. The company’s products are not yet marketed but claim to allow constant monitoring of physiological signals and provide an answer to the need for monitoring individuals over weeks or months. In July 2016Bellabeat (San Francisco, California) launched their new Leaf Urban; a health tracker designed as jewelry for women that helps predict stress levels based on lifestyle habits. Bellabeat said it has distributed more than 400,000 devices.
Also to watch: Biosensors. Biosensor technology uses substrates, nanomaterials, and advanced spectroscopic or electromagnetic wavelength analysis methods to perform highly sensitive tests on a small platform that reports results via an electronic digital system. Industry’s use of biosensor and microfluidic technologies has been diverse with many products available on the market and in development. For example, Scope Fluidics Group (Poland) presented its PCR/One system. The PCR/One system is a 15-minute POC PCR for syndromic screening and testing that offers the fastest detection of bacteria and viruses – up to 20 different pathogens and drug resistance genes. The system is designed to analyze samples in less than 15 minutes and is compact, making it suitable for use in almost any doctor’s office or hospital.
Kalorama notes that biocapture is early in its development and proof of its contribution to diagnosis, but the COVID crisis has shown the need for faster results and relevant results for a patient.
“That doesn’t mean there are biosensors as POC devices yet, but they are under development,” Carlson said. “And maybe represent the end point of care, maybe the point before care, which is even better.”
For more information or to purchase The Worldwide Market for Point-of-Care (POC) Diagnostic Tests, 9th Edition, visit: https://kaloramainformation.com/product/the-worldwide-market-for-point-of- care-poc-diagnostic-tests-9th-edition/
Information about Kalorama:
Kalorama Information, part of Science and Medicine Group, has been a leading publisher of market research in the medical markets, including biotechnology, diagnostics, medical device and pharmaceutical industries for over 30 years. Our comprehensive, timely and quality research and innovative approach to analyzing and presenting market information has made Kalorama Information a premier source of market information for key industry decision makers.
Bruce CarlsonKalorama Information, 703-783-1747, [email protected]
SOURCE Kalorama Information