Point of Care
(PoC) diagnostics may soon reduce the need for centralized laboratory testing, as
a deficit in laboratory workers take hold in many countries, according to a new
report by medical intelligence company GlobalData.
The new report*
found that growth in the PoC market will be driven by future shortages of
medical laboratory personnel, elderly patients’ preference for home monitoring,
and government initiatives aimed at increasing the adoption of PoC testing to
cut costs.
The growing
elderly population in developed countries such as the US has increased the need
for laboratory services, as elderly individuals are at higher risk of suffering
from health problems. This has led to an increase in the demand for medical and
clinical laboratory professionals, and according to the Bureau of Labor
Statistics, the employment of clinical laboratory workers in the US is expected
to grow from 328,100 in 2008 to 373,600 by 2018.
It is predicted
that qualified personnel will not be able to meet surging demand due to
declining numbers of accredited medical technology programs and increasing
numbers of laboratory workers due to retire over the next decade. The US will
therefore face a drought of qualified staff to man clinical laboratories,
threatening patient testing demands and posing a problem for patient welfare.
To overcome this concern, the industry may consider the simplification and
automation of routine testing procedures to allow patients and physicians to
perform tests themselves.
The US is the
largest market for PoC diagnostics, accounting for 42% of the global market
during 2011. Growth in this market will be fuelled by a strong demand for
cardiac markers and coagulation PoC diagnostic products, and the launch of
compact and small size products offering improved patient comfort and
convenience. Significant investments in research and development in the US,
directed at molecular diagnostics, are also expected to encourage growth in the
market. With significant investment in electronic medical records (EMR) by the
US government, the integration of results from PoC diagnostics will further
enhance flexible patient care.
The global PoC
diagnostics market was valued at $4.3 billion in 2011 and is forecast to reach
$7 billion by 2018, growing at a Compound Annual Growth Rate (CAGR) of 7%
during 2011-2018. The US PoC diagnostics alone was valued at $1.8 billion in
2011, and is expected to reach a value of $3 billion by 2018, demonstrating a
CAGR of 8%.
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