Europe Point-of-Care-Testing (POCT) Market – Industry Trends and Forecast to 2029

Europe Point of Care Testing (POCT) Market Analysis and Insights

The point of care testing (POCT) is characterized as testing which can be done in close proximity to the patient where a medical decision can be made immediately including the results and monitoring. Increased prevalence of infectious and chronic diseases, improved diagnosis seeking-rate and rising preference for homecare testing are some of the major drivers driving the market growth.

However, lack of alignment with test results obtained from laboratories, high cost and lack of trained staff are some of the challenges hampering the market growth.

Europe point of care testing (POCT) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 8.8% in the forecast period of 2022 to 2029 and is expected to reach USD 13,085.33 million by 2029.

Market Definition

Point of Care Testing (POCT) is also called with-patient testing and allows physicians to accurately measure real-time, lab-quality diagnostic results within a few minutes as compared to hours. Currently, there are various products available that provide rapid and accurate results and help in patient’s better outcomes which is expected to provide various other opportunities for the market growth. However, lack of alignment in lab results and high cost of POCT products are expected to restrain the market growth in the forecast period.

Europe point of care testing (POCT) market report provides details of market share, new developments, product pipeline analysis and impact of domestic and localized market players that analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.

Europe Point of Care Testing (POCT) Market Dynamics

Drivers

• Increasing prevalence of infectious and chronic diseases

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 increasing number of geriatric population. These increasing rates of the diseases are directly proportional to the market growth of POCT devices as they are used in the diagnosis of almost all diseases. We also know that as health degeneration begins with aging, the rate of chronic diseases and factors associated with them also increase with time. However, with increase in disease rate, the healthcare system and status of health is also improving due to awareness and adoption of POCT devices that help in the diagnosis of multiple chronic diseases thereby, driving the market growth.

For instance,

• In October 2017, according to a report published in Springer, 85% of deaths in the European Union (EU) were due to chronic diseases including cancer, cardiovascular disease, chronic respiratory disease, diabetes and mental illness

The growing incidences of chronic diseases in Europe with conditions like 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 regularly that includes 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 will be acting 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.

• Improved diagnosis-seeking rate

Improved healthcare professionals and regular training sessions for the professionals conducting tests have contributed to the improved diagnosis rates in the region, which includes an increase in the successful diagnosis of chronic diseases like cancer, cardiovascular disease, type 2 diabetes and others. The rate of diagnosis also increases as the burden of disease increases. Healthcare and IT professionals have the power to decrease the likelihood of error and are making attempts to increase the rate of seeking POCT. Along with that, they also help in determining and detecting the risk associated with it. Perhaps, to improve the rate of diagnosis the IT professionals evaluate the user experience also.

To support the POCT process, a methodology was introduced that includes coverage of management, time spent by professionals for diagnosis and evaluation activities that would help in improving the accuracy rate of the information and help in making better decisions in terms of diagnosis. Thus, the efforts by the healthcare and IT professionals, improved training of healthcare professionals, change in the patient care delivery system and improved diagnosis-seeking rate in the region are leading to the market growth.

• Rising preference for homecare testing

Increased demand for homecare testing results in reduced error and safety with ensured quality clinical information that will be available at appropriate time and location and also helps to understand the elder case of a medical emergency. The market has been growing due to rising geriatric population thereby, increasing the demand for homecare testing. With the help of cutting-edge modern technologies, home health care costs have been dramatically reduced and people are being helped effectively. Thus, increased preferences for home healthcare services will boost the demand for POCT devices driving the market growth.

Opportunity

• Strategic initiatives by the market players

The increase in the prevalence of chronic and infectious diseases in Europe requires new and advanced POCT kits and solutions with improved efficacy rate and reduced cycle time due to rise in the geriatric population and also to improve the healthcare management and diagnostics for quality performance. Major market leaders are engaged in full filling the demands of healthcare professionals and spending their time in research to produce better products, kits and reagents.

These strategic initiatives by the companies including acquisition and focused segment product launches are helping them to expand and enhance the product portfolio of the company which will ultimately lead to more revenue generation. Hence, these strategic initiatives by the market players are acting as an opportunity that is helping them to drive market growth.

Restraint/Challenge

• Lack of alignment with test results obtained from laboratories

The POCT results when compared with laboratory testing standards can differ and be performed by clinical personnel who are not trained in clinical laboratory sciences. The standardization and other essential criteria cannot be completed by POCT and this is acting as a major challenge for the market growth.

Given the advantages of POCT research, some downsides are not necessarily considered the safest choice. Owing to the sensitivity and precision associated with laboratory analyzers, clinical laboratory personnel are well aware of the analytical methodologies and are more reliable. In comparison, the test carried out by healthcare personnel rather than laboratory qualified persons resulted in mistakes arising from lack of awareness on the significance of quality management and quality assurance procedures. Thus, more precise and accurate results can be expected from laboratory testing as POCT faces challenges to meet all specific standards of testing due to lack of knowledge.

Recent Developments

• In May 2022, Abbott updated i-STAT software for hospitals and outpatient facilities to provide solution in real-time. The software consists of high efficacy rate, is cost-effective and provides good quality patient care decision-making
• In May 2022, EKF Diagnostics announced the launch of its new EKF Link digital connectivity solution for the secure management of POC analyzers and associated data on one centralized platform

Europe Point of Care Testing (POCT) Market Scope

Europe point of care testing (POCT) market is segmented into product, application, end user, mode of testing and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product

• Instruments
• Consumables & Reagents
• Others

Based on product, the market is segmented into instruments, consumables & reagents and others.

Application

• Blood Glucose
• Cardiac Monitoring
• Coagulation
• Whole Blood Analysis
• Vital Sign Monitoring
• Infectious Disease Testing
• Urine Analysis
• Cholesterol Testing
• Others

Based on application, the market is segmented into blood glucose, cardiac monitoring, coagulation, whole blood analysis, vital sign monitoring, infectious disease testing, urine analysis, cholesterol testing and others.

End User

• Laboratories
• Hospitals
• Clinics
• Ambulatory Centers
• Home Care
• Assisted Living Facilities
• Pharmacies/Drug Stores
• Others

Based on end user, the market is segmented into laboratories, hospitals, clinics, ambulatory centers, home care, assisted living facilities, pharmacies/drug stores and others.

Mode of Testing

• Prescription-Based Testing
• OTC Testing

Based on mode of testing, the market is segmented into prescription-based testing and OTC testing.

 Distribution Channel

• Direct Sales
• Third Party Distributor
• Online Sale

Based on distribution channel, the market is segmented into direct sales, third party distributor and online sale.

Europe Point of Care Testing (POCT) Market Regional Analysis/Insights      

Europe point of care testing (POCT) market is analyzed and market size insights and trends are provided by product, application, end user, mode of testing and distribution channel.

Countries covered in this market are Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium and rest of Europe. Germany dominates the Europe 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. This is due to the increased awareness regarding POCT devices in the Europe region.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands and impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Europe Point of Care Testing (POCT) Market Share Analysis

The point of care testing market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth and application dominance. The above data points provided are only related to the companies' focus on point of care testing market.

Some of the major players operating in this market are Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd., Quidel Corporation Trividia Health, Inc., Nova Biomedical, PTS Diagnostics, Trinity Biotech, LumiraDx, Sekisui Diagnostics, Chembio Diagnostics, Inc., BD, Thermo Fisher Scientific Inc., Abbott, Danaher, binx health, Inc., QuantuMDx Group Ltd., Werfen, Thermo Fisher Scientific, Abaxis, EKF Diagnostics and Sysmex Europe SE, among others.

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