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Europe Point of Care Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product, Prescription Mode, and End User

Europe Point of Care Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product, Prescription Mode, and End User

  • July 2021
  • 196 pages
  • ID: 6134305
  • Format: PDF
  • The Insight Partners

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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.

Rising prevalence of infectious diseases is expected to fuel the market growth.Point-of-care testing (POCT) plays a critical role in diagnosis, treatment, and prevention of infectious diseases.

POC testing can be used to detect several major pathogens, including malarial parasites, human immunodeficiency virus (HIV), human papillomavirus (HPV), dengue, Ebola, and Zika viruses; and Mycobacterium tuberculosis (TB bacteria).The increasing incidence of infectious diseases such as HIV is the major public health issue.

As per the European Centre for Disease Prevention and Control, ~2 million people in Europe were infected with HIV in 2019.Moreover, healthcare-associated infections (HAIs) such as central line-associated bloodstream infections and catheter-associated urinary tract infections might affect the patients in hospitals and other healthcare facilities.

According to a recent study published on NCBI in 2020, HAI causes around 16 million additional hospitalization days in Europe each year. Moreover, according to the same study, HAI leads to additional financial burden of around US$ 8.5 billion in Europe each year. Such increase in prevalence of infectious diseases is expected to create a demand for point of care test kits across the Europe region.

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.

The prescription-based testing segment led the Europe point of care diagnostics market based on prescription mode in 2020.Prescription based testing are often done by healthcare professional which shows appropriate results.

Before prescribing certain point of care device or test to patients, diagnostics tests are done.Without use of a diagnostic test, or are based on dipstick tests, lacks the accuracy, and give no indication as to the infecting agent.

Therefore, patients prefer the prescription-based testing rather than OTC based testing, also there is lack of awareness of OTC POCT testing between patients.The prescription-based testing segment is expected to command the largest share of the market in 2020.

The growth of this segment is mainly attributed to the increasing incidence and prevalence of lifestyle diseases and the lack of awareness on OTC POCT devices. These factors are anticipated to offer demand for the prescription-based testing during the forecast period for Europe region.

The overall Europe point of care diagnostics market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe point of care diagnostics market.

The process also serves the purpose of obtaining overview and forecast for the Europe point of care diagnostics market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe point of care diagnostics market. 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 are among a few players operating in the Europe point of care diagnostics market.

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