by Lauren Dubinsky
, Senior Reporter | April 06, 2018
The rising prevalence of chronic conditions and infectious diseases is driving the global critical care diagnostics market, according to a new Technavio report.
It’s expected to grow at a compound annual growth rate of more than six percent from this year until 2022.
The Americas accounted for almost 45 percent of the market in 2017. Increasing health care costs and extensive R&D activities are a couple of the factors driving the market in these regions.
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A study published in The Lancet in 2009 predicted that by 2020, 157 million U.S. citizens will have more than one chronic condition. Those include diabetes, stroke and cancer, which are diagnosed using critical care diagnostics.
Although chronic conditions are a major driving force, the microbial and infectious disease testing segment had the largest market share in 2017 at 21 percent. That’s anticipated to increase by nearly four percent by 2022.
In the report, Technavio indicates that data management and EHR connectivity through interoperability are one of the main trends fueling the market.
The main concern in this field is that when point-of-care products are used, the results are not captured electronically. The devices have to be connected to the facility’s laboratory information system (LIS) and/or EHR to view the results again.
A senior analyst at Technavio explained that the compliance of rapid diagnostic analyzers with LIS or EHRs is one of the emerging trends in the critical care setting, and several manufacturers are developing software for this space.
For more information or to purchase the complete report go here.