Europe Point-Of-Care Diagnostics Market worth $8.39 Bn by 2021

According to the report Europe Point-Of-Care Diagnostics Market, published by Market Data Forecast, The Market was worth $5.28 billion in 2016 and estimated to reach $8.39 billion by the end of 2021 with a CAGR of 9.72%.

Point-of-care diagnostics allow a speedy, convenient, and cost-efficient way to diagnose diseases at healthcare centers and hospitals. Point-of-care diagnostics is a term collectively used for diagnostic procedures and tests performed on-site. As compared to conventional in-laboratory tests, point-of-care diagnostics have the advantage of speed and convenience without compromising on consistency. The speed factor, especially, is the greatest attribute of point-of-care diagnostics, because faster diagnosis facilitates faster patient management. Point-of-care diagnostics help cut down on the need for sophisticated diagnostic systems for regular tests like blood tests and urine tests.

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The Europe point-of-care diagnostics market is at a fairly developed stage right now, as it is composed of products catering to the needs of various domains. Many advanced point of care diagnostic products are on the verge of being used practically and widely. But, more than innovative and advanced point-of-care devices, there is an extensive need for inexpensive solutions that can be set up in regions where infectious diseases are highly prevalent. In developing regions, these tests are crucial in counterbalancing the lack of adequate laboratory capacity. This is one of the most promising opportunities that can be grabbed by market players.

The introduction of healthcare information systems such as EHR (e-health records) has essentially increased the penetration rates of these tests which enables considerable automation of diagnostic competences of any medical facility. Advances in technology and introduction of cost effective and high quality medical solutions aimed at achieving miniaturization and lab automation are expected to serve the point-of-care diagnostics market as a vital driver. Moreover, rising levels of patient awareness are expected to play a key role behind growth on account of the fact that patients, particularly the ones suffering from long-term diseases such as diabetes, are actively participating in the shift relating to the implementation of point-of-care diagnostic practices. However, there are some certain market restraints that players need to overcome. The effort and co-ordination required among healthcare centers, researchers, practitioners and manufacturers is the greatest restraining factor for the growth of point-of-care diagnostics market. Also, reluctance from the industry towards changing the existing norms, frequent product recalls, stringent regulatory framework and unfavorable reimbursement scenario are some of the challenges faced by the point-of-care diagnostics market.

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Europe Point-Of-Care Diagnostics Market: Segmentation

Product                        

  • Infectious Diseases
  • Cardiac Markers
  • Oncology Markers
  • OTC Diagnostic Tests
  • Drugs Of Abuse
  • Blood Gas Testing
  • Fertility Testing
  • Urinalysis
  • Coagulation
  • Hematology
  • Glucose Monitoring
  • Ambulatory Chemistry
  • Decentralized Clinical Chemistry
  • Others
  • Y-o-Y Growth Analysis, By Product
  • Market Attractiveness Analysis, By Product
  • Market Share Analysis, By Product

End-Users                   

  • Clinics
  • Hospitals
  • Home Healthcare
  • Ambulatory Care Settings
  • Laboratories
  • Others
  • Y-o-Y Growth Analysis, By End-Users
  • Market Attractiveness Analysis, By End-Users
  • Market Share Analysis, By End-Users

Mode of Delivery                     

  • OTC
  • Prescription
  • Y-o-Y Growth Analysis, By Mode of Delivery
  • Market Attractiveness Analysis, By Mode of Delivery
  • Market Share Analysis, By Mode of Delivery

On the basis of geography, the Europe market is analyzed under various regions namely UK, Spain, Italy, Germany and France. Europe is expected to command a decent share in the overall market in the next five years owing to the presence of premium healthcare infrastructure, established reimbursement framework and high healthcare affordability in this region. Moreover, the presence of high levels of awareness amongst the patient population base as well as the physicians associated with fast disease diagnosis is supportive in the industrial revenue

Some of the major players in this market are Abbott Laboratories, Inc., Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc., Becton, Dickinson and Company, Johnson & Johnson , Alere Inc., and PTS Diagnostics.

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Reasons to buy Europe Point-Of-Care Diagnostics Market Report:

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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