South Africa and Europe Point-of-Care-Testing (POCT) Market, 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) - Industry Trends and Forecast to 2030.
South Africa and Europe Point-of-Care-Testing (POCT) Market Analysis and Insights
One of the primary factors driving the growth of the South Africa and Europe point-of-care testing (POCT) market is the rising prevalence of various chronic and infectious diseases. The rising awareness for point-of-care testing products leads to market expansion. The market is also influenced by the intense competition among the market players. However, the high cost associated with POCT products may act as a restraining factor for the market in the forecast period.
On the other hand, rising awareness and government funding act as opportunities for the growth of the market. However, the lack of alignment with test results obtained from laboratories may create challenges for the South Africa and Europe point-of-care-testing (POCT) market.
South Africa and Europe point-of-care-testing (POCT) market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with 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 from USD 8,565.13 million in 2022.
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 Customisable (2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million
|
|
Segments Covered
|
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., Siemens Healthcare GmbH, Werfen, Sysmex Europe SE., Danaher, Quidel Corporation, LumiraDx, BD, Abbott, Nova Biomedical, Abaxis, Trividia Health, Inc., Sekisui Diagnostics, Thermo Fisher Scientific Inc., EKF Diagnostics, Trinity Biotech, Chembio Diagnostics, Inc., PTS Diagnostics, binx health, inc., and QuantuMDx Group Ltd. among others.
|
Market Definition
The point-of-care testing (POCT) market refers to the market for diagnostic tests that are performed at or near the patient's location, providing immediate results for clinical decision-making. POCT involves conducting medical tests outside of the traditional laboratory setting, typically in settings such as hospitals, clinics, ambulatory care centers, physician offices, and even patients' homes. POCT is designed to provide rapid and convenient access to diagnostic information, enabling healthcare professionals to make immediate treatment decisions, monitor patients' conditions, and improve overall patient care. The tests performed in POCT cover a wide range of medical disciplines, including infectious diseases, cardiovascular health, diabetes management, pregnancy and fertility, oncology, and hematology.
Point-of-Care-Testing (POCT) Market Dynamics
This section deals with understanding the market drivers, advantages, restraints, and challenges. All of this is discussed in detail below:
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 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.
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
Improvement in 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 such as cancer, cardiovascular disease, type 2 diabetes, and others.
A methodology was introduced that includes coverage of management, time spent by professional for diagnosis, and evaluation activities to support the POCT process, that will help in improving the accuracy rate of the information and helps in making better decisions in terms of diagnosis. Thus, the efforts by 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 market growth.
- Demand for Wearable or Portable Glucose Monitoring Devices
Due to an increased prevalence of diabetes among patients nowadays, glucometers are becoming essential for their survival as they will help in determining the glucose level. With easy compliance, POCT has provided comfort to the patients as they can detect their health conditions by checking through the device which will help them to prevent unwanted health problems.
Thus, the launch of new care devices for wearable and portable glucose monitoring will be driving the market growth.
Opportunities
-
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 rates and reduced cycle time due to the 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.
For instance,
-
In May 2020, Roche acquired Stratos Genomics, a startup company in the early stages of the sequencing technology industry, to advance the development of its nanopore sequencer that combines electronic and biological components to sequence DNA for quick, adaptable, and affordable clinical diagnostic testing
Hence, these strategic initiatives by the market players are acting as an opportunity that is helping them to drive market growth.
-
Rising Awareness and Government Funding
The government, federations, and major players in the market are involved in spreading awareness among society across developing countries. These initiatives by the players and government are helping the users to reach out and take advantage of the policies made for low-income and developing nations and making them aware of the diseases that are preventable if diagnosed earlier. The growth of POCT in hospitals and emergency rooms is already strongly encouraged by government initiatives and the prevalence of time-sensitive medical diseases.
Restraints/Challenges
- Lack of Accuracy with POCT Products
The accuracy of a POCT depends on the quality of the test itself. Some POCT devices may have lower sensitivity or specificity compared to laboratory-based tests. It's crucial to use high-quality, validated POCT devices to ensure accurate results. Some medical conditions or specific tests may have inherent limitations in terms of accuracy, regardless of whether they are performed in a laboratory or at the point of care. It's important to be aware of the limitations and potential sources of error associated with specific POCT devices or tests. In the field of POCT, pre-analytical errors are pretty common. As a result, these circumstances limit the development of new products that hinder market expansion leading to product recall and is carried out for permanent withdrawal.
- High Cost of POCT Product
The high cost of POCT products, including testing devices, cartridges, and disposables, can make it financially challenging for healthcare providers, particularly smaller clinics and facilities, to adopt and implement POCT programs. The upfront investment required for purchasing the necessary equipment and maintaining the supply of consumables can be a significant barrier. The high cost of POCT products can indirectly affect patients as well. If the cost of POCT is transferred to the patients, it may make the tests unaffordable for some individuals, particularly those without insurance coverage or with high deductibles. This can hinder the adoption and utilization of POCT, as patients may opt for alternative testing methods or forego testing altogether.
Recent Developments
- 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 the 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.
South Africa and Europe Point-of-Care-Testing (POCT) Market Scope
South Africa and Europe point-of-care-testing (POCT) market is segmented into six notable segments based on product type, application, prescription mode, platform, end user, and distribution channel. The growth amongst these segments will help you analyze meager 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 Type
- Glucose Monitoring Products
- Infectious Disease Testing Products
- Cardiometabolic Monitoring Products
- Pregnancy and Fertility Testing Products
- Haematology 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
- Others
On the basis of product type, South Africa and Europe point-of-care-testing (POCT) 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.
Application
- Blood Glucose
- Cardiac Monitoring
- Haematology
- Coagulation
- Whole Blood Analysis
- Vital Sign Monitoring
- Non- Invasive Spo2 Monitoring
- Non- Invasive Pco2 Monitoring
- Blood Transfusion
- Others
On the basis of application, South Africa and Europe point-of-care-testing (POCT) 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.
Prescription Mode
- Prescription-Based Testing
- Over The Counter Testing
On the basis of prescription mode, the South Africa and Europe point-of-care-testing (POCT) market is segmented into prescription-based testing and over the counter testing.
Platform
- Lateral Flow Assays/ Immunochromatography Tests
- Dipsticks
- Molecular Diagnostics
- Immunoassays
- Microfluidics
- Clinical Chemistry Assay
- Hematology
- Others
On the basis of platform, South Africa and Europe point-of-care-testing (POCT) market is segmented into 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
- Others
On the basis of end user, the South Africa and Europe point-of-care-testing (POCT) market is segmented into clinics, home care, hospitals, laboratories, ambulatory surgery centers, and others.
Distribution Channel
- Direct Tender
- Retail Sales
- Online Sales
- Others
On the basis of distribution channel, the South Africa and Europe point-of-care-testing (POCT) market is segmented into direct tender, retail sales, online sales, and others.
Point-of-Care-Testing (POCT) Market Regional Analysis/Insights
The point-of-care-testing (POCT) market is analysed and market size insights and trends are provided by country, product type, application, prescription mode, platform, end user, and distribution channel.
The countries covered in this report are South Africa, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and the rest of Europe.
Germany is expected to dominate due to rising awareness and government funding for POCT products which is expected to drive the regional market in the forecasted period.
The demand for bladder cancer diagnostics will increase due to rising technological advancements. Various companies are taking initiatives that gradually lead to the growth of the market.
Competitive Landscape and Point-of-Care-Testing (POCT) Market Share Analysis
The point-of-care-testing (POCT) market competitive landscape provides details of 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 the market.
Some of the major players operating in the market are F. Hoffmann-La Roche Ltd., Siemens Healthcare GmbH, Werfen, Sysmex Europe SE., Danaher, Quidel Corporation, LumiraDx, BD, Abbott, Nova Biomedical, Abaxis, Trividia Health, Inc., Sekisui Diagnostics, Thermo Fisher Scientific Inc., EKF Diagnostics, Trinity Biotech, Chembio Diagnostics, Inc., PTS Diagnostics, binx health, inc., and QuantuMDx Group Ltd. among others.
SKU-