The report titled “Europe POCT Devices Market Outlook to 2022 – by Geography (Western Europe & Eastern Europe), by Product (Blood Glucose POCT, Infectious POCT, Cardiac POCT, Rapid Coagulation POCT, Blood Gas & Electrolytes POCT, Hematology POCT, Pregnancy POCT, Urinalysis POCT, Cholesterol POCT, Fecal Occult POCT, Hb1Ac POCT& Drugs of Abuse POCT), by Customer Segments (Hospitals & Clinics, Diagnostics Labs & Primary Care Units and Homecare & Patients)” by Ken Research suggested a growth at a CAGR of close to 7.5% in Europe POCT Market in the review period.
Expanding product portfolio with launch of new products, rising cases of infectious diseases and technological advances will be the key factors driving growth in Europe POCT market. In the review period, Europe POCT market has been largely dominated by Western Europe in terms of revenue generation. Increase in incidence of chronic diseases, health awareness, medical advancement in POCT sector in Europe has led major market growth during 2012-2017. Cardiovascular, sexually transmitted, diabetes and infectious diseases have become more prevalent with increase in tobacco use, lack of physical activity, and poor eating habits amongst Europeans. There has been a general increase in awareness regarding health amongst all age groups. Coupled with innovations in POCT medical devices, the market has witnessed a patient driven growth. Advancement in medical knowledge and R&D Work has given rise to new innovative technology including Magnotech Biosensor, Breath Analyser, Portable MDx, BioMEMS, Integrated Cartridges, Multiplexed Lateral Flow Immunoassay and others.
There has been a noticeable increase in per capita spending on healthcare by Europeans hence; developing new and handy POCT methods/devices has been on rise. Acquiring patents and high competition for market dominance has been prevalent. Unease associated with laboratory testing methods such as managing obesity and cardiovascular related diseases & fertility related issues, POCT devices have become a way out for people to get easy, fast and cheaper detection method in comparison to cumbersome laboratory diagnostics. Pathology related diagnostics test have been performed at home with ease moreover, diagnostic lab test have become POCT-friendly, providing results within minutes. This has encouraged households to opt for these devices for early detection hence, early treatment.
With vast scope of innovation and expansion, many new companies have been expanding their product lines into POCT device manufacturing.
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing & Communications