The EMEA PoC diagnostics market is expected
to reach USD 7.39 billion by 2022, according to a new report by Grand View
Research Inc.
Incorporation
of healthcare IT and telecommunication such as HealthVault concept by Microsoft
plays an inevitable role in the development of the Point-of-Care (PoC)
diagnostics market. The introduction of healthcare information systems such as
Electronic Medical Records (EMR) has highly increased the market penetration
rates of these diagnostic tests.
Rising
demand for home healthcare coupled with patient awareness levels and government
initiatives aimed at reducing hospital stays and healthcare expenditure are
anticipated to drive the Europe, Middle East, and Africa (EMEA) PoC diagnostics
market growth. On account of growing demand for self-testing, companies have
launched portable devices that are easy to use such as Pandora CDx
point-of-care system by POC Medical Systems.
Growing base
of the geriatric population will widen the target consumer base. Aging
heightens the risk of chronic diseases including cardiovascular, diabetes, and
cancer. Growing base of geriatric population is anticipated to further increase
the demand for continuous monitoring via facilities requiring point-of-care
diagnostic products such as home healthcare and assisted living facilities.
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Further key findings from the study suggest:
- In 2014, glucose testing dominated the EMEA PoC market with a share of over 60%. Growing prevalence of diabetes and the introduction of portable glucose monitoring devices such as OneTouch, Accu-Chek, and Glucotouch are the major drivers for market growth over the forecast period.
- The infectious disease testing segment is expected to be the fastest-growing product, growing at a CAGR of over8.0% over the next six years. Rising prevalence of infectious disease in low- and middle-income level countries of MEA and Europe is the major aspect accounting for its fastest growth.
- Clinics are likely to account for over 37% of the market by 2022. High procedure volumes associated with clinical establishments is one of the primary reasons attributing to its huge share.
- The home healthcare segment, on the other hand, is expected to grow at a lucrative rate during the forecast period owing to its cost-effectiveness and comfort level it provides to the patients
- Germany held over 19%of the European PoC diagnostics market in 2014.Major factors attributing to growth include the presence of favorable regulations and initiatives undertaken by the government pertaining to the development of healthcare infrastructure and the integration of telecommunications and IT into point-of-care products such as MyGlucoHealth applications.
- South Africa is expected to be the fastest growing segment over the forecast period. High prevalence of malaria and other febrile infectious diseases coupled with huge population base in South Africa are the major factors driving growth of PoC market in this region
- Key market players include Beckman Coulter Inc., Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Danaher Corporation, Becton Dickinson and Company, bioMerieux S.A., and Alere Inc.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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