Europe Point of Care Diagnostics Market Report (2021–2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

Europe Point of Care (POC) Diagnostics Market Overview and Dynamics

The Europe Point of Care Diagnostics Market is poised for significant growth, projected to expand from US8,948.81millionin2021∗∗to∗∗US8,948.81millionin2021∗∗to∗∗US 20,207.60 million by 2028, reflecting a CAGR of 12.3% during the forecast period. This growth is driven by several key factors:

Rising Adoption of Home-Based POC Devices: The increasing awareness and convenience of POC testing are bringing diagnostics closer to patients, even in home settings. This trend is particularly beneficial for early detection of life-threatening conditions, as POC devices provide real-time results.
Technological Advancements: The integration of smartphones with health monitoring applications, including imaging, sensing, and diagnostics, is revolutionizing the POC diagnostics landscape. Glucose meters, for instance, are not only used for diabetes management but are also being repurposed for other clinical assays like immunoassays and molecular diagnostics.
Aging Population: The growing geriatric population in Europe is leading to increased healthcare expenditure, particularly for regular health checkups, disease diagnosis, and treatment. Common health issues among the elderly, such as cardiovascular diseases, diabetes, and cancer, are driving the demand for POC diagnostics.
Expansion in Low- and Middle-Income Countries: POC diagnostic devices are becoming more prevalent in home setups, doctor’s offices, and hospitals across low- and middle-income countries, further fueling market growth.

Key Market Segments

By Product:

Glucose Monitoring Products: Dominated the market in 2020, driven by the high prevalence of diabetes and the widespread use of glucose monitoring devices.
Infectious Disease Testing Products: Includes HIV, influenza, sexually transmitted diseases (STDs), hepatitis C, and respiratory infections.
Cardiometabolic Testing Products: Focused on cardiovascular and metabolic conditions.
Pregnancy and Fertility Testing Products: Catering to women’s health.
Other Segments: Coagulation testing, tumor/cancer markers, cholesterol testing, urinalysis, hematology, and more.

By Prescription Mode:

Prescription-Based Testing: Held the largest market share in 2020, as many POC tests require professional oversight.
OTC Testing: Growing due to the increasing availability of over-the-counter diagnostic kits.

By End User:

Professional Diagnostic Centers: Accounted for the largest share in 2020.
Hospitals and Clinical Laboratories: Significant users of POC diagnostics.
Home Care: Rapidly growing segment due to the rise of home-based POC devices.
Others: Includes outpatient healthcare, ambulatory care settings, and research laboratories.

By Country:

Germany, UK, France, Italy, and Spain: Major contributors to the Europe POC diagnostics market.
Rest of Europe: Emerging markets with growing adoption of POC technologies.
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Competitive Landscape

The Europe POC diagnostics market is highly competitive, with key players focusing on innovation, partnerships, and mergers & acquisitions to strengthen their market position. Major companies profiled in the report include:

Abbott
BD
bioMérieux 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

Reasons to Buy the Report

Market Landscape Analysis: Gain insights into the Europe POC diagnostics market and identify high-growth segments.
Competitive Strategy: Stay ahead by understanding the evolving competitive landscape.
M&A and Partnership Opportunities: Identify promising market segments for strategic deals.
Informed Decision-Making: Leverage comprehensive market performance analysis to make data-driven business decisions.
Revenue Forecasts: Access detailed revenue forecasts for various segments from 2021 to 2028.

Conclusion

The Europe POC diagnostics market is on a robust growth trajectory, driven by technological advancements, the aging population, and the increasing adoption of home-based diagnostic devices. With a diverse range of products and applications, the market offers significant opportunities for stakeholders across the healthcare spectrum. Companies that innovate and adapt to the changing landscape are likely to emerge as leaders in this dynamic market.

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Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights