The Point-Of-Care Testing (POCT) Market in Europe is expected to grow at a CAGR of 8.38% to reach USD 6751 million by 2028. In Europe, Point-of-Care Testing (POCT) market is witnessing significant growth due to the increasing demand for rapid diagnostic tests (RDTs) in primary care settings. RDTs enable the acquisition of test results from blood samples in a shorter timeframe than conventional laboratory-based diagnostic methods. These tests are particularly valuable for primary care and emergency medical screening, as they can be carried out in medical facilities with limited resources. Furthermore, the emergence of asymptomatic malaria cases necessitates the adoption of POCT solutions for early detection. RDTs offer a quicker turnaround time, making them an increasingly popular choice for medical professionals. With the ability to provide results within two hours, POCT is revolutionizing the diagnostic landscape in Europe.
Europe dominates the regional market because of The European Point-of-Care Testing (POCT) market is experiencing significant growth due to the increasing demand for rapid and accurate diagnostic solutions. POCT devices offer convenience, efficiency, and improved patient outcomes by enabling real-time testing at the point of care. Key market drivers include an aging population, increasing prevalence of chronic diseases, and the need for early disease detection. Major players in the European POCT market include Abbott, Roche, and Siemens Healthineers, among others. These companies are investing in research and development to introduce innovative technologies and expand their product portfolios. The market is expected to continue its robust growth trajectory in the coming years.
There are various factors that drive the Point-Of-Care Testing (POCT) Market in Europe market which are as following: The European Point-of-Care Testing (POCT) market holds significant potential due to the increasing prevalence of chronic diseases, particularly among the geriatric population. With an aging demographic trend in Europe, countries such as Italy, Germany, France, Sweden, and Spain have a substantial geriatric population of 24%, 22%, 22%, 20%, and 20%, respectively. This demographic shift is accompanied by a higher incidence of diseases like diabetes, cardiovascular diseases (CVD), lung disease, cancer, and stroke. The immune system's deterioration with age increases susceptibility to infections, further emphasizing the need for rapid and accurate diagnostic tools like POCT.
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Point-Of-Care Testing (POCT) Market in Europe Segmentation
Type (OTC testing, Prescription- based testing) Application (Blood glucose testing, Infectious diseases testing, Cardiac markers testing, Pregnancy and fertility testing, Others) Geography (Europe)
The market witnesses several challenges, which are as follows Product recalls can significantly impact a company's financial performance and future growth prospects in the European Point-of-Care Testing (POCT) market. These events can diminish consumer trust and tarnish brand reputation, potentially leading to decreased sales during the forecast period. Recalls not only affect the revenue of manufacturers but also disrupt their operations for an extended period, necessitating thorough investigations to identify the root cause of the issue. The Food and Drug Administration (FDA) initiates recalls when a product poses a potential health risk to users or results in patient injuries or fatalities. Instances of device recalls have been reported in the European POCT market, underscoring the importance of stringent regulatory compliance and quality control measures.
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Some of the key companies that have been profiled in the report include:
According to Technavio, the Point-Of-Care Testing (POCT) market in Europe is a segment of the global technology hardware, storage, and peripherals market, which encompasses manufacturers of various IT products and components. This market includes revenue from the sales of cellular phones, personal computers, servers, electronic computer components, peripherals, data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. The expansion of the global technology hardware, storage, and peripherals market is primarily driven by the escalating demand for data centers, fueled by the increasing adoption of work-from-home technologies in the wake of COVID-19. - The Point-Of-Care Testing (POCT) Market in Europe is experiencing significant growth, fueled by the Growing geriatric population. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The Point-Of-Care Testing (POCT) market in Europe is witnessing significant growth due to the increasing demand for quick and accurate diagnostic results, particularly in clinical laboratories and healthcare settings. POCT devices are revolutionizing diagnostic management by enabling personalized medicine and faster response times for various conditions, including Ebola virus disease, HIV, cardiovascular diseases, chronic ailments, and infectious illnesses. POCT devices are essential for coagulation testing, cardiac markers testing, infectious diseases testing, and blood glucose testing. Major players in the European POCT market include Ortho Clinical Diagnostics and Response Biomedical. The market is segmented into POC tests, conventional laboratory processes, OTC-based testing segment, and homecare testing. POCT devices are increasingly being used for diagnosis of chronic diseases and infectious diseases, allowing medical decisions to be made at the point of care. The market for POCT is expected to grow significantly in the coming years due to the increasing burden of chronic diseases and infectious diseases in Europe.
Technavio Research
Jesse Maida
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