Globally, the demand for portable
diagnostic devices is high
Based on region, the Global
Portable Medical Device Market is segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa. Europe is expected to
dominate market of portable diagnostic device market due to increasing market
penetration of diagnostic medical devices, and growing emphasis on minimally
invasive procedures. Followed by Europe, North America is expected to gain
significant market share due to presence of sophisticated healthcare
infrastructure, increasing awareness of healthcare professionals and patients.
The Asia Pacific is the fastest growing region for portable diagnostic device
market due to improving healthcare facility and increasing prevalence of
diseases 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 portable
diagnostic devices in this region.
Some of the major players of the
market include PixCell, PT. RAFA Topaz Utama, Siemens AG, Roche Products
Limited, Alere, Inc., Instrumentation Laboratory, PTS Diagnostics and Beckman
Coulter, Inc. Major players are constantly working towards reducing size of the
equipment and integrating extensive database to increase the feasibly of
equipment. Entry of innovative products
such as point-of-care (POC) troponin test by Roche in 2015, which was aimed at
introducing a new portable test for identifying suspected heart attack patients
for faster diagnosis is such as example of it.
Portable diagnostic devices allow
the ease of diagnostic tests and encourage homecare settings
Information and communication
technologies (ICT) are widely used in healthcare industry and have led to
significant advancements in ICT based medical devices. Such developments will
significantly reduce the office visits in the near future. Portable medical
diagnostic devices enable the user to perform diagnosis at home, clinic or any
remote area including a suggestion for medication and recommendation to see a
doctor thereby reducing potential health risk. These devices are much cheaper
than conventional diagnostic equipment used by physicians, thus reducing the
cost of high-level healthcare and are much more accessible. Portable medical
diagnostic devices are primarily used to transfer medical data from patients to
healthcare professional in real time which could eventually reduce the spread
of pandemic disease.
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Rising need for early diagnosis is
expected to drive the market
Need for medical diagnostic
devices in remote or developing areas, where professional and expensive
equipment are difficult to access, is primarily increasing the adoption of
portable diagnostic device. Further, ease of access with commercial tablets
& smartphones combined with provision of immediate results for laboratory
analysis is also driving the global portable diagnostic devices market.
Increasing private venture funding towards the development of new products and
government support towards adoption of point of care device is also
contributing towards growth in revenue generation in the global portable
diagnostic device market.
Portable diagnostic devices are
primarily being adopted by healthcare professionals to personally administer
the test to patients for epidemic diseases such as Hepatitis C. Higher
efficiency and advantage of immediate results combined with ability to make
timely decisions are some of the most appealing features increasing the
adoption of portable diagnostic device.
Several challenges such as
reducing discharge time for mobile equipment and data security were encountered
in the global portable diagnostic device market. These challenges are
constraining the growth of the market as most of the devices are not optimized
with proper data security and safekeeping which leads to potential HIPAA
violations. Also, establishing ‘Bring your own device’ (BYOD) is crucial to
ensure patient safety.
Portable diagnostic products
commonly include glucose monitoring devices, blood pressure monitoring devices,
bone densitometer, wireless devices (Fibits)
The global portable diagnostic
devices can be segmented on the basis of product type, end-user and mode of
prescription. On the basis of product type global portable diagnostic device
can be segmented into glucose monitoring device, infectious disease monitoring,
cardio metabolic monitoring, coagulation monitoring, hematology testing, urine
analysis device, cholesterol monitoring device, drug abuse monitoring device,
pregnancy & fertility monitoring, occult monitoring, tumor/ cancer
monitoring and others. Based on end-user, global portable diagnostic device can
be segmented into home care settings, hospitals, clinics, ambulatory &
surgical center, diagnostic center and others. On the basis of mode of
prescription, the global portable diagnostic device market can be segmented
into over the counter and prescription based.
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Key Development
Key players in the market are
involved in various business strategies such as product launches and
partnership, in order to expand their customer base. For instance, in February
2018, Siemens Healthineers partnered with a medical technology startup Jana
Care to launch world’s first smartphone-based diagnostic platform ‘Aina’ in
India. This platform will enable people to avail high quality test for chronic
diseases.
Key companies in the market are
focused on various business strategies such as collaboration and product
launches, in order to expand their product portfolio. For instance, in January
2019, PTS Diagnostics and Kroger Health jointly announced the launch of
CardioCheck Plus analyzers that will assist individuals who are suffering from
diabetes in point-of-care blood testing.
Key players are involved in
different business strategies such as product launch to expand product
portfolio and gain competitive edge in the market. For instance, in July 2018,
PixCell Medical launched the HemoScreen, which is blood testing point-of-care
analyzer. HemoScreen is portable and user-friendly test device, which produces
lab accurate results.
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