“Physician Office Laboratory (POL) Testing Markets Worldwide - Status Quo and Future Trends” says that the rapid emergence of healthcare IT which is instrumental in creating rapid test devices and analyzers which work in tandem with healthcare networks, has created a $1.6 billion global industry of POL diagnostics which will gather further market momentum.
Authors of the report believe that the rise in POL testing is directly proportional to new approaches in treating the growing number of diabetics and people who suffer from cardiovascular disease and other chronic conditions. POL diagnostics are a step ahead of traditional laboratory tests because they offer results far more quickly and are much more convenient to use - and they play a pivotal role in the expanding digital healthcare revolution.
Market growth is also propelled by the growing middle class populations in China, India and Latin America which contribute to the escalating demand for state of the art health services including easily available diagnostic testing kits.
The market is expected to grow at the rate of 10-15% per year fuelled by the advances in IT connectivity and the new generation of one- test lab-on-a-chip technologies, say authors of the report. They also caution that while the market has been on the upswing, it has also been plagued by issues relating to device maintenance, quality control and relative cost, all issues that are being addressed by manufacturers. The report suggests that quicker, more sensitive, and less expensive tests may produce better market penetration.
“Physician Office Laboratory Testing Markets Worldwide” touches on global POL diagnostics used in a variety of medical practices. It discusses regulatory issues and CMA reimbursement rates. It also provides comprehensive market analysis for 15 POL testing areas and profiles the POL offerings of over 110 suppliers.
The study also looks at the pros and cons of POL testing, and the development of the lab-on-a-chip concept. It contains sections on home monitoring of individuals with chronic diseases and looks at the present test segments as well as emerging tests and technologies.
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