Market Overview and Dynamics
The Europe point of care diagnostics market is expected to grow from US$ 8,948.81 million in 2021 to US$ 20,207.60 million by 2028; it is estimated to grow at a CAGR of 12.3% from 2021 to 2028. Burgeoning use of home-based poc devices is expected to escalate the market growth. The increasing awareness about point of care testing is bringing the test conveniently and quickly to the patient at home. Most clinicians recognize POC testing as a requirement for early detection of life-threatening situations because laboratory results can be made available in real-time. POC diagnostic and monitoring devices are anticipated to become universal in-home setups as well as at doctor’s offices or hospitals, in low- and middle-income countries. Consumers are frequently using smartphones as platform devices. The health and monitoring applications of smartphones commonly include imaging, sensing, and diagnostics. Although glucose meters are widely used in home settings by diabetic patients, they can also be repurposed to perform common clinical assays such as immunoassays, molecular diagnostics, and enzymatic assays. The rise in geriatric population has resulted in increased expenditure on healthcare for health checkups, disease diagnoses, and treatments. The most constant health problems affecting this population include digestive disorders, cardiovascular diseases, bone and joint diseases, diabetes, and different types of cancer. The people of this age group claim diagnostic testing on a regular basis, owing to their low immunity and metabolism. Therefore, these factors have increased the demand of POCs for diagnostic purposes across Europe region.
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Europe Point of Care Diagnostics Strategic Insights
Strategic insights for the Europe Point of Care Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
Abbott
BD
bioMerieux SA
BIO-RAD LABORATORIES INC.
Danaher
F. HOFFMANN-LA ROCHE LTD.
Johnson and Johnson Services, Inc.
Nova Biomedical
Polymer Technology Systems, Inc. (PTS)
Siemens AG
Europe Point of Care Diagnostics Regional Insights
The geographic scope of the Europe Point of Care Diagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of product, the glucose monitoring products segment accounted for the largest share of the Europe point of care diagnostics market in 2020. In terms of prescription mode, the prescription-based testing segment held a larger market share of the Europe point of care diagnostics market in 2020. Further, the professional diagnostic centers segment held a larger share of the Europe point of care diagnostics market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe point of care diagnostics market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abbott; BD; bioMerieux SA; BIO-RAD LABORATORIES INC.; Danaher; F. HOFFMANN-LA ROCHE LTD.; Johnson and Johnson Services, Inc.; Nova Biomedical; Polymer Technology Systems, Inc. (PTS); and Siemens AG.
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe point of care diagnostics market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
