Globally, the demand for portablediagnostic devices is high
Based on region, the GlobalPortable Medical Device Market is segmented into North America, Europe,Asia Pacific, Latin America, and Middle East and Africa. Europe is expected todominate market of portable diagnostic device market due to increasing marketpenetration of diagnostic medical devices, and growing emphasis on minimallyinvasive procedures. Followed by Europe, North America is expected to gainsignificant market share due to presence of sophisticated healthcareinfrastructure, increasing awareness of healthcare professionals and patients.The Asia Pacific is the fastest growing region for portable diagnostic devicemarket due to improving healthcare facility and increasing prevalence ofdiseases such as HIV, tuberculosis and malaria among the target population.Moreover, with increasing health awareness and increasing focus on prevention,the growing trend of self-diagnosis will propel the demand for portablediagnostic devices in this region.
Some of the major players of themarket include PixCell, PT. RAFA Topaz Utama, Siemens AG, Roche ProductsLimited, Alere, Inc., Instrumentation Laboratory, PTS Diagnostics and BeckmanCoulter, Inc. Major players are constantly working towards reducing size of theequipment and integrating extensive database to increase the feasibly ofequipment. Entry of innovative productssuch as point-of-care (POC) troponin test by Roche in 2015, which was aimed atintroducing a new portable test for identifying suspected heart attack patientsfor faster diagnosis is such as example of it.
Portable diagnostic devices allowthe ease of diagnostic tests and encourage homecare settings
Information and communicationtechnologies (ICT) are widely used in healthcare industry and have led tosignificant advancements in ICT based medical devices. Such developments willsignificantly reduce the office visits in the near future. Portable medicaldiagnostic devices enable the user to perform diagnosis at home, clinic or anyremote area including a suggestion for medication and recommendation to see adoctor thereby reducing potential health risk. These devices are much cheaperthan conventional diagnostic equipment used by physicians, thus reducing thecost of high-level healthcare and are much more accessible. Portable medicaldiagnostic devices are primarily used to transfer medical data from patients tohealthcare professional in real time which could eventually reduce the spreadof pandemic disease.
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Rising need for early diagnosis isexpected to drive the market
Need for medical diagnosticdevices in remote or developing areas, where professional and expensiveequipment are difficult to access, is primarily increasing the adoption ofportable diagnostic device. Further, ease of access with commercial tablets& smartphones combined with provision of immediate results for laboratoryanalysis is also driving the global portable diagnostic devices market.Increasing private venture funding towards the development of new products andgovernment support towards adoption of point of care device is alsocontributing towards growth in revenue generation in the global portablediagnostic device market.
Portable diagnostic devices areprimarily being adopted by healthcare professionals to personally administerthe test to patients for epidemic diseases such as Hepatitis C. Higherefficiency and advantage of immediate results combined with ability to maketimely decisions are some of the most appealing features increasing theadoption of portable diagnostic device.
Several challenges such asreducing discharge time for mobile equipment and data security were encounteredin the global portable diagnostic device market. These challenges areconstraining the growth of the market as most of the devices are not optimizedwith proper data security and safekeeping which leads to potential HIPAAviolations. Also, establishing ‘Bring your own device’ (BYOD) is crucial toensure patient safety.
Portable diagnostic productscommonly include glucose monitoring devices, blood pressure monitoring devices,bone densitometer, wireless devices (Fibits)
The global portable diagnosticdevices can be segmented on the basis of product type, end-user and mode ofprescription. On the basis of product type global portable diagnostic devicecan be segmented into glucose monitoring device, infectious disease monitoring,cardio metabolic monitoring, coagulation monitoring, hematology testing, urineanalysis device, cholesterol monitoring device, drug abuse monitoring device,pregnancy & fertility monitoring, occult monitoring, tumor/ cancermonitoring and others. Based on end-user, global portable diagnostic device canbe segmented into home care settings, hospitals, clinics, ambulatory &surgical center, diagnostic center and others. On the basis of mode ofprescription, the global portable diagnostic device market can be segmentedinto over the counter and prescription based.
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Key Development
Key players in the market areinvolved in various business strategies such as product launches andpartnership, in order to expand their customer base. For instance, in February2018, Siemens Healthineers partnered with a medical technology startup JanaCare to launch world’s first smartphone-based diagnostic platform ‘Aina’ inIndia. This platform will enable people to avail high quality test for chronicdiseases.
Key companies in the market arefocused on various business strategies such as collaboration and productlaunches, in order to expand their product portfolio. For instance, in January2019, PTS Diagnostics and Kroger Health jointly announced the launch ofCardioCheck Plus analyzers that will assist individuals who are suffering fromdiabetes in point-of-care blood testing.
Key players are involved indifferent business strategies such as product launch to expand productportfolio and gain competitive edge in the market. For instance, in July 2018,PixCell Medical launched the HemoScreen, which is blood testing point-of-careanalyzer. HemoScreen is portable and user-friendly test device, which produceslab accurate results.
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