The prevalence of infectious and chronic diseases such as cancer, diabetes, and cardiovascular disorder is rapidly increasing across Europe. According to the World Health Organization (WHO), the contribution of chronic diseases was about 60% which accounted for the number of deaths.
Access Full Report @ https://www.databridgemarketresearch.com/reports/south-africa-and-europe-poct-market
In Europe, the major reason behind the increasing number of chronic diseases is the continuous increase in the number of geriatric population. These increasing rates of diseases are directly proportional to the growth of POCT, as they are used in the diagnosis of almost all diseases.
Data Bridge Market Research analyses that the Point of Care Testing (POCT) Market is expected to grow at a CAGR of 9.3% in the forecast period of 2023 to 2030 and is expected to reach USD 17,289.45 million by 2030. The glucose monitoring products is projected to propel the growth of the market due to the rising prevalence of diabetes.
Key Findings of the Study
- The Point-of-Care-Testing (POCT) is anticipated to reach a value of USD 17,289.45 million by 2030, with a CAGR of around 9.3% during the forecast period from 2023 to 2030
- Germany is expected to dominate the Point of Care Testing (POCT) market in 2023 due to the higher level of investments from manufacturers and the increasing incidence of various chronic diseases in the country
- The glucose monitoring products segment accounted for the largest share in 2022 at 33.14%. The segment of glucose monitoring products is growing due to the rising incidence of diabetes. Moreover, the major players in the market are launching various innovative featured products in the region, further improving the segment's growth
- The Point-of-Care-Testing (POCT) market was positively affected by the COVID-19 outbreak. The increasing number of infectious diseases led to the emergence of various diagnostic tests and hospital visits
- Europe is expected to register lucrative growth over the forecast period of 2021 to 2030 owing to growing expenses on the development of healthcare infrastructure
Increasing prevalence of infectious and chronic diseases may drive the market growth
The prevalence of infectious and chronic diseases such as cancer, diabetes, and cardiovascular disorder is rapidly increasing across Europe. According to the World Health Organization (WHO), the contribution of chronic diseases was about 60% which accounted for the number of deaths. In Europe, the major reason behind the increasing number of chronic diseases is the continuous increase in the number of geriatric population. These increasing rates of the diseases are directly proportional to the growth of POCT, as they are used in the diagnosis of almost all diseases.
The growing incidences of chronic diseases in Europe with conditions such as cancer, asthma, and heart disease among others, have improved the usage and awareness about early diagnosis of diseases. This awareness made people buy more healthcare premiums including whole body check-ups on regular basis that include almost all the tests. At the same time, the population of chronic diseases is rapidly increasing. Thus, a major surge in the prevalence of chronic diseases is expected to act as a major driver for the market growth as POCT devices can effectively manage the disorder and provide better comfort and treatment for monitoring whenever needed.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customisable 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, and Pricing in USD
|
|
Segments Covered
|
By Product Type (Glucose Monitoring Products, Infectious Disease Testing Products, Cardiometabolic Monitoring Products, Pregnancy and Fertility Testing Products, Hematology Testing Products, Coagulation Monitoring Products, Drugs-Of-Abuse (DOA) Testing Products, Urinalysis Testing Products, Cholesterol Testing Products, Tumor/ Cancer Marker Testing Products, Fecal Occult Testing Products, and Others), Application (Blood Glucose, Cardiac Monitoring, Hematology Coagulation, Whole Blood Analysis, Vital Sign Monitoring, Non-Invasive Spo2 Monitoring, Non-Invasive Pco2 Monitoring, Blood Transfusion, and Others), Prescription Mode (Prescription-Based Testing and Over The Counter Testing), Platform (Lateral Flow Assays/ Immunochromatography Tests, Dipsticks, Molecular Diagnostics, Immunoassays, Microfluidics, Clinical Chemistry Assay, Hematology, and Others), End User (Clinics, Home Care, Hospitals, Laboratories, Ambulatory Surgery Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, Online Sales, and Others)
|
|
Countries Covered
|
South Africa, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and Rest of Europe.
|
|
Market Players Covered
|
F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthcare GmbH (Germany), Werfen (Spain), Sysmex Europe SE. (Germany), Danaher (U.S.), Quidel Corporation (U.S.), LumiraDx (U.K.), BD (U.S.), Abbott (U.S.), Nova Biomedical (U.S.), Abaxis (U.S.), Trividia Health, Inc. (U.S.), Sekisui Diagnostics (U.S.), Thermo Fisher Scientific Inc. (U.S.), EKF Diagnostics (U.K.), Trinity Biotech (Ireland), Chembio Diagnostics, Inc. (U.S.), PTS Diagnostics (U.S.), binx health, inc, (U.S.), QuantuMDx Group Ltd. (U.K.)
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
|
Segment Analysis:
The South Africa and Europe Point-of-Care-Testing (POCT) market is segmented into six notable segments such as product type, application, prescription mode, platform, end user, and distribution channel.
- Based on product type, the market is segmented into glucose monitoring products, infectious disease testing products, cardiometabolic monitoring products, pregnancy and fertility testing products, hematology testing products, coagulation monitoring products, drugs-of-abuse (DOA) testing products, urinalysis testing products, cholesterol testing products, tumor/cancer marker testing products, fecal occult testing products, and others
In 2023, the glucose monitoring products segment is expected to dominate the market due to the rising prevalence of diabetes.
In 2023, the glucose monitoring products segment is expected to dominate the market with a market share of 33.74% and is expected to reach USD 6,531.29 million by 2030, growing with a CAGR of 11.1% in the forecast period of 2023 to 2030.
- Based on application, the market is segmented into blood glucose, cardiac monitoring, hematology, coagulation, whole blood analysis, vital sign monitoring, non-invasive Spo2 monitoring, non-invasive Pco2 monitoring, blood transfusion, and others
In 2023, the blood glucose segment is expected to dominate the market due to the rising demand for point-of-care testing among the population.
In 2023, the blood glucose segment is expected to dominate the market with a market share of 36.98% and is expected to reach USD 7,033.78 million by 2030, growing with a CAGR of 10.8% in the forecast period of 2023 to 2030.
- Based on prescription mode, the market is segmented into prescription-based testing and over the counter testing. In 2023, the prescription-based testing segment is expected to dominate the market with a market share of 54.82% and is expected to reach USD 9,742.74 million by 2030, growing with a CAGR of 9.7% in the forecast period of 2023 to 2030
- Based on platform, the market is segmented into lateral flow assays/ immunochromatography tests, dipsticks, molecular diagnostics, immunoassays, microfluidics, clinical Chemistry assay, hematology, and others. In 2023, the lateral flow assays/ immunochromatography tests segment is expected to dominate the market with a market share of 52.99% and is expected to reach USD 9,646.09 million by 2030, growing with a CAGR of 10.1% in the forecast period of 2023 to 2030
- Based on end user, the market is segmented into clinics, home care, hospitals, laboratories, ambulatory surgery centers, and others. In 2023, the clinics segment is expected to dominate the market with a market share of 36.88% and is expected to reach USD 6,890.49 million by 2030, growing with a CAGR of 10.5% in the forecast period of 2023 to 2030
- Based on distribution channel, the market is segmented into direct tender, retail sales, online sales, and others. In 2023, the direct tender segment is expected to dominate the market with a market share of 34.66% and is expected to reach USD 6,499.71 million by 2030, growing with a CAGR of 10.6% in the forecast period of 2023 to 2030
Major Players
Data Bridge Market Research recognizes the following companies as the market players in South Africa and Europe Point-of-Care-Testing (POCT) Market F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthcare GmbH (Germany), Werfen (Spain), Sysmex Europe SE. (Germany), Danaher (U.S.), Quidel Corporation (U.S.), LumiraDx (UK), BD (U.S.), Abbott (U.S.), Nova Biomedical (U.S.), Abaxis (U.S.), Trividia Health, Inc. (U.S.), Sekisui Diagnostics (U.S.), Thermo Fisher Scientific Inc. (U.S.), EKF Diagnostics (UK), Trinity Biotech (Ireland), Chembio Diagnostics, Inc. (U.S.), PTS Diagnostics (U.S.), binx health, inc. (U.S.), and QuantuMDx Group Ltd. (UK) among others.
Market Development
- In June 2022, Roche received the Food and Drug Administration (FDA) EUA for cobas SARS-CoV-2 Duo, the first PCR test to simultaneously detect COVID-19 and quantitatively measure viral load levels of COVID-19. Potential benefits of the cobas SARS-CoV-2 Duo test aim to help the healthcare community with contact tracing, patient triage, and the approach to medical care
- In April 2022, Sysmex Europe SE. launched the point-of-care testing devices at the 24th IFCC-EFLM European Congress of Clinical Chemistry and Laboratory Medicine, in Munich. The product launch resulted in a rise in partnership with market players for leverage and distribution of POCT devices and the addition of a new product in the product portfolio, resulting in a rise in revenue
- In April 2021, Danaher announced renowned scientists to join a new scientific advisory board to support its development of new technologies and bring unique perspectives to rapidly emerging science and technology trends impacting Danaher. This helped the company in diversifying its segment portfolio
- In August 2020, Siemens Healthcare GmbH announced that they have agreed to acquire Varian to enhance the fight against cancer and strengthen its business in the healthcare sector. After this announcement, the company has enhanced its credibility in the market.
- In July 2020, BD launched a rapid, point-of-care, SARS-CoV-2 diagnostic test namely BD Veritor Plus System. This new assay can deliver results in 15 minutes, easy-to-use and is a highly portable instrument that is critical for improving access to COVID-19 diagnosis. This new product launch has to diversify the company's product portfolios
- In March 2020, Abbott launched a molecular point-of-care test to detect novel coronavirus in as little as five minutes. The tests are designed to identify the virus by targeting small amounts of it and amplifying that portion until there's enough for detection. The launch of this lateral flow technology helped the company to enhance its platform
Regional Analysis
Geographically, the countries covered in the Point-of-Care-Testing (POCT) market report are South Africa, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and rest of Europe.
As per Data Bridge Market Research analysis:
Germany is the fastest growing and dominating country in the Europe region in Point-of-Care-Testing (POCT) market during the forecast period 2023 - 2030
In 2023, Germany dominated the Point-of-Care-Testing (POCT) market owing to the higher level of investments by various manufacturers and the increasing prevalence of infectious and chronic diseases in the region. Germany will continue to dominate the Point-of-Care-Testing (POCT) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. Germany is estimated to be the fastest-growing country in Point-of-Care-Testing (POCT) market for the forecast period 2023 -2030. This is due to the growing adoption of advanced technology and the launch of new products in this region.
For more detailed information about the Point-of-Care-Testing (POCT) market report, click here –
