Europe Point of Care Testing Market Size and Growth Rate:
Europe Point
Of Care Testing Market is anticipated to reach USD 11,682.540 billion by 2024
from USD 6,051.50 billion in 2016, at a CAGR of 8.60% in the projection period
2017 to 2024.
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Europe Point of Care Testing Market @ https://www.researchcosmos.com/reports/europe-point-of-care-testing-market/29411909
Europe Point of Care Testing Market Overview:
Recently,
the diagnostic market for breastfeeding families has grown exponentially, with
a growing preference for patients performing these tests. The factor that helps
the European PoC market to develop tremendously is the technological advances
that have developed in the medical field for many years. Point of care
equipment is defined as a medical device used to obtain immediate results in diagnosis
and surveillance of various diseases such as cancer, diabetes and heart
disease. The demand for devices is expected to increase due to the continued
development of R&D activities for the miniaturization of molecular and
special diagnostic tests. Some initiatives by governments and non-governmental
organizations to strengthen European industry trends in various epidemics and
improve health literacy. This equipment is particularly easy to use due to the
lack of diagnostic specialists and medical staff.
Europe Point of Care Testing Market Growth Drivers and Restraints:
There is
an accelerating growth in the regional market with the improving automation
laboratory technology and introducing advanced and cost-effective medical
solutions. Main technical advances in diagnosis, introduction of basic essences
at home; and rising medical costs are also supporting the growth of the market.
Automated lab systems and highly integrated solutions facilitate diagnostic
workflows, facilitating the adoption of diagnostic and test products as needed.
However,
government regulations on product approvals and reimbursements for
point-of-service devices significantly restrict market growth. Research and
development activities among point of care diagnostics devices for the rapid
detection and control of key diseases, and introducing new inspections are
expected to drive industrial development.Market participants are constantly
focusing on research and development to help grow the market through the
innovation of new, and more efficient devices.
One of the
key drivers of growth in the European point of care testing market is the
growing demand for rapid diagnostic procedures with the proliferation of
chronic diseases in the region. Government contracts contributing to the
development of on-site diagnostic devices should accelerate future market
growth.
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Europe Point of Care Testing Market Geographical Segmentation:
Germany
was the largest market in Europe with sales of more than $ 740 million in 2018.
This is due to favorable government regulations, a well-developed medical
infrastructure and a large population.
Key Players of the Europe Point of Care Testing Market:
The main
market players are Danaher Corporation; F. Hoffmann-La Roche Ltd; Abbott
Laboratories; SpA instrumentation laboratory; bioMérieux SA; Trividia Health,
Inc .; QIAGEN; Becton Dickinson & Company; New biomedical sciences; Sekisui
Diagnostics LLC; I Siemens Healthcare GmbH; Quidel Corporation.
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