Europe Point of Care Testing Market

Europe Point of Care Testing Market Size and Growth Rate:

Europe Point Of Care Testing Market is anticipated to reach USD 11,682.540 billion by 2024 from USD 6,051.50 billion in 2016, at a CAGR of 8.60% in the projection period 2017 to 2024.

Europe Point of Care Testing Market – Growth Drivers and Restraints:

The main factors driving the growth of this market in Europe are the increasing scope of POC devices, improvement in technology, increasing the incidence of chronic disorders, rising demand for self-testing point-of-care testing methods, decentralized laboratory testing, and technological improvements like a microfluidic lab on chip technology. These factors increase the demand for devices so as a blood glucose meter, CRP, HBA1C, Homocysteine. On the other hand, high costs and regulatory hurdles may limit the growth of the market.

Upcoming trends like the increasing popularity of portable POC products are rapidly gaining recognition as they are more efficient than traditional devices. The portable POC diagnostic outcomes are relatively inexpensive, more hygienic, and much more effective when compared to the fixed diagnostic products. Also, the initiation of advanced portable products with licenses for single-owner use is anticipated to spur the European market size during the forecast period.

The rising cost of POC devices is the factor which may limit the growth of this market. Many companies are making continuous efforts and advances to make products more up to date, along with propelled innovations with decreased sample volume or less blood on portable devices. Emerging POC device market, as well as the emergence of Microfluidic lab-on-a-chip technologies, will drive the regional market in future.

Increase in a number of pathology labs and services equipped with superior diagnostic equipment will be one of the major circumstances driving the growth of POC testing market. Healthcare foundation development has resulted in industry growth. Majority of the population staying in developed countries rely on healthcare tools developed by the public healthcare sector, that will positively influence the industry growth.

Molecular diagnostics holds a significant role in the field of microbiology. The conventional culture method is not helpful in obtaining timely results. Real-time PCR is used for this purpose. Industry players have been concentrating their efforts on developing a new point of care molecular diagnostic technologies to deliver faster results with great accuracy and specificity. Hence, the increase in research and development will augment the market growth in the future years.

Europe Point of Care Testing Market Segmentation Analysis:

The Europe POCT device market is divided on the basis of product type, distribution channel, prescription mode, end user and geography. Based on the product type, the market is divided into blood glucose testing kits, cardiometabolic monitoring kits, infectious disease testing kits, cholesterol testing kits, urinalysis testing kits, pregnancy and fertility tests kits, tumor/cancer markers, hematology testing kits, cholesterol test strips, drugs of abuse testing kits, rapid coagulation testing kits, fecal occult testing kits, and others. In 2017, the blood glucose testing kits segment dominated the market with a share of 26.20% and is expected to continue this trend until 2024.

Cardiometabolic monitoring kits are further divided into cardiac markers, HbA1c testing kits, blood gas/electrolytes testing kits, and lipids testing. Also, infectious illness testing kits are further segmented into influenza testing kits, tropical diseases testing kits, HIV testing kits, hepatitis C testing kits, healthcare-associated infections, sexually-transmitted diseases testing kits, and respiratory infections testing kit.

On the base of end users, the Europe point-of-care testing market is divided into hospital, home healthcare, clinics, ambulatory care, and research laboratory. Hospital section is further classified into a general ward, emergency department critical-care unit, and others (intensive care unit, neonatal). Also, the clinic is divided into physicians’ clinic and diagnostic clinic. In 2017, the hospital section dominated the market with a share of 32.8% and is anticipated to continue this trend until 2024.

On the base of prescription mode, the regional market is divided into prescription based testing and over-the-counter (OTC) testing. OTC testing is forecasted to witness a higher growth rate of 9.20% during the projected period and will reach a value of USD 4,377.3 billion by 2024.

Europe Point of Care Testing Market – Regional Analysis:

Based on geography, the market is divided into 11 geographical areas, such as Germany, France, Netherlands, UK, Italy, Spain, Russia, Turkey, Belgium, Switzerland and the rest of Europe.

Western Europe has led the overall European industry in terms of sales of POC devices in 2017. Excellent medical infrastructure, a higher level of disposable income of people, higher knowledge and spending on healthcare, presence of well-established manufacturers and government assistance has enabled countries such as the Germany, Italy, and UK to safeguard the overall European landscape in terms of both, sales and interest in the review period.

Some of the promising companies leading the Europe Point of Care Testing Market are:

1. Abaxis, BD
2. A. Menarini Diagnostics
3. Acon Laboratories
4. Bio-Rad Laboratories
5. Cepheid
6. Beckman Coulter
7. Chembio Diagnostic Systems
8. Helena Laboratories
9. Clarity Diagnostics
10. DiagCor
11. Hologic
12. Life Technologies
13. Nipro Diagnostics
14. Landwind Medical
15. Mindray
16. i-Sens
17. Randox Laboratories
18. Trivitron Healthcare
19. Span Diagnostics
20. Snibe Diagnostics
21. Sysmex
22. URIT