Europe Point-of-care Diagnostics 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%.
Hyderabad, India -- (SBWIRE) -- 03/13/2018 -- Point-of-care (POC) diagnostics is outlined as medical diagnostic testing at the place of the incident or close to the point of care i.e. at the time and place of patient care. This contrasts with the historical pattern during which testing was entirely or principally confined to the medical laboratory, that entailed causation off specimens off from the point of care and then by waiting hours or days to find out the results, during which time care should continue without having the required data.
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The Europe Point-of-care Diagnostics market is estimated to have a value of USD 5.28 billion in 2016. The market size is anticipated to grow rapidly with a CAGR of 9.72%, to reach a value of USD 8.39 billion by 2022. Apart from increased incidence of target diseases, factors such as growing government initiatives supporting the adoption of POC diagnostic products are driving the growth in this market.
This growth in this market can also be related to factors such as increasing number of patients and growing awareness about infectious disease POC testing products.
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The biggest share by volume of the market is commandeered by the infectious disease testing products segment.
An augmented range of the geriatric population in these regions requiring quick testing of various health problem at home and this can be strengthening the demand for point-of-care systems. The escalating demand for diagnostic units for higher maternity well-being in numerous developing economies is likewise supporting the demand for POC testing in many regions.
As of now, Europe with its advanced cutting-edge technologies and advanced healthcare infrastructure and high awareness among individuals is expected to register a very high growth rate of Point-of-care Diagnostics market.
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The major market contributors for the Europe Point-of-care Diagnostics 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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