LONDON--(BUSINESS WIRE)--Technavio's latest market research report on the global critical care diagnostics market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global critical care diagnostics market will grow at a CAGR of over 6% during the forecast period. The growing focus on diagnosis of chronic conditions and infectious diseases is a major factor driving the market's growth.
The demand for diagnostic procedures is driven by the rise in the prevalence of chronic disorders. Chronic diseases and conditions such as diabetes, strokes, and cancers are diagnosed by using critical care diagnostics. In countries such as the US, more than 100 million adults had diabetes or prediabetes as of 2015. The chances of having diabetes increases with age. Adults in the age group of 18-44, 4% had diabetes; among those aged between 45 and 64, 17% had diabetes; and among those aged 65 years and older, 25% had diabetes.
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In this report, Technavio highlights the data management and connectivity to EHRs through interoperability as one of the key emerging trends driving the global critical care diagnostics market:
Data management and connectivity to EHRs through interoperability
The key concern with the critical care diagnostics was that, while using the POC products at critical care setting, the results were not captured electronically. Thus, the accessibility becomes limited and are not included in data analytics. The results must be correctly recorded and electronically linked with the EHR. Occasionally, the data will be available at the place of testing. However, results become unavailable once the patient leaves the testing location. The devices must be connected with the laboratory information system (LIS) and/or HER to view the results again. By introducing the health information technology within the healthcare system, companies are focusing on providing the advanced technology of data management of the patients. Manufacturers are also developing software for critical care diagnostics, where the data of each patient gets stored in the data warehouse through connectivity to EHRs by interoperability method.
"The compliance of rapid diagnostic analyzers with LIS or EHRs is one of the emerging trends in a critical care setting as several companies are shifting toward innovating their technology and products. These trends are expected to have a positive effect on the market during the forecast period," says a senior analyst at Technavio for research on in-vitro diagnostics.
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Global critical care diagnostics market segmentation
This market research report segments the global critical care diagnostics market into the following applications (microbial and infectious disease testing, hematology testing, cardiac and lipid testing, coagulation testing, blood glucose testing, and fecal occult testing), end-users (emergency care units, ICUs, and operating rooms), and key regions (the Americas, APAC, and EMEA).
The microbial and infectious disease testing segment held the largest market share in 2017, accounting for nearly 21% of the market. The market share for this application is expected to increase nearly 4% by 2022.
The Americas was the leading region for the global critical care diagnostics market in 2017, accounting for a market share of nearly 45%. Factors such as the increasing healthcare expenditure coupled with extensive R&D activities, significant investments, and increasing application of several tests by physicians is driving the market in these regions.
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