Europe Point of Care Diagnostics Market to Grow at a CAGR of 12.3% to reach US$ 20,207.60 Mn Million from 2021 to 2028

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.

The UK, Germany, France, Italy, and Spain are major economies in Europe. Escalating product launches and product developments is expected to drive the market growth.

The number of point-of-care testing has steadily increased over the last 40 years since its widespread introduction. The Europe point of care market is likely to grow with the introduction of new products into the market, aimed at delivering inexpensive care at the facilities located at the closest-possible distances from the patients’ location. New technologies or products are being refined and improved to deliver easier to use devices with incremental improvements in analytical performance. The growth of the POC market is mainly attributed to the introduction of new devices to perform molecular testing. Many new devices have been launched in recent years. For instance, in June 2019, Abbott launched first-ever rapid POC HbA1c test to aid in the diagnosis of diabetes; this test provides results in three minutes, enabling clinicians to develop informed, individualized care plans during patient consultation. Moreover, in July 2021, BD announced launch of rapid and portable point-of-care antigen test for diagnosis of COVID-19. The new test kit is capable to deliver results within 15 minutes of the test. Besides, in December 2020, Beckman Coulter also introduced its rapid antigen kit for diagnosis of COVID-19. Similarly, in 2017, Roche Diagnostic division launched CoaguChek Vantus PoC; this system enables handheld coagulation monitoring system for the self-assessment of health. The division has also launched new point-of-care mobile application—Cobas Infinity—designed to meet the needs of point-of-care coordinators to manage important tasks on the go. Such advancements in new launched devices will propel the overall Europe POC market growth during the forecast period.

In case of COVID-19, Europe is highly affected specially France. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries and number of deaths are also high. The current coronavirus (COVID-19) outbreak has been declared by WHO as a Public Health Emergency of International Concern, according to the International Health Regulation. Increasing number of coronavirus infections and demand for advanced diagnostic solutions is offering a favorable opportunity for adoption of point of care diagnostic kits in the region. Moreover, rising investments and business activities by industry players is also boosting the market even in pandemic situations. In 2020, European Medicines Agency (EMA) approved about 97 medicines for marketing authorization of which, 39 are novel drugs. Similarly, in October 2020, Eurofins introduces COVID-19 PCR tests with at-home self-sampling options in Europe region. Moreover, in October 2020, Siemens Healthineers launched rapid antigen test for diagnosis of COVID-19 in European countries. The CLINITEST rapid COVID-19 test is point of care cassette test that offers test result in 15 minutes. In addition, in April 2021, QIAGEN announced launch of Prep&Amp technology in order accelerate the COVID-19 diagnosis in Europe. The kit has received CE approval for marketing and distribution in Europe, also, the company has submitted its product for EUA (Emergency Use Application) in US. Such activities are likely to have constructive impact on market growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe point of care diagnostics market. The Europe point of care diagnostics market is expected to grow at a good CAGR during the forecast period.

Europe Point of Care Diagnostics Market Segmentation 

Europe Point of Care Diagnostics Market – By Product

• Glucose Monitoring Products
• Infectious Disease Testing Products
  • HIV Testing
  • Influenza Testing
  • Sexually Transmitted Disease (STD) Testing
  • Hepatitis C Testing
  • Healthcare-Associated Infection (HAI) Testing
  • Tropical Disease Testing
  • Respiratory Infection Testing
  • Other Infectious Disease Testing
• Cardiometabolic Testing Products
• Pregnancy and Fertility Testing Products
• Coagulation Testing Products
• Tumor/Cancer Marker Testing Products
• Cholesterol Testing Products
• Urinalysis Testing Products
• Hematology Testing Products
• Other POC Products

Europe Point of Care Diagnostics Market – By Prescription Mode

• Prescription-Based Testing
• OTC Testing

Europe Point of Care Diagnostics Market – By End User

• Professional Diagnostic Centers
  • Hospitals
  • Clinical Laboratories
  • Outpatient Healthcare
  • Ambulatory Care Settings
• Home Care
• Research Laboratories
• Others

Europe Point of Care Diagnostics Market, by Country

• Germany
• UK    
• France
• Italy 
• Spain
• Rest of Europe

Europe Point of Care Diagnostics Market -Companies Mentioned

• 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 Report Scope