Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The point of care testing is explained as the medical diagnostic testing at the time and place of patient. The contrast with the previous pattern in which medical testing were wholly or mostly carried out at the medical laboratories. Which comprised of the sending off specimens away from the point of care and then waiting for hours or days to learn the results, during that time care must continue without the desired information. The point of care testing are easy medical tests which can be performed at bedside. In many cases, the simplicity was not obtained until technology developed not only to make test possible at all but also mask the complexities of the tests.
The Europe point of care diagnostic market is observing tremendous growth during forecast period of 2021 to 2027. The point of care diagnostic have the certain benefits such as more rapid decision making, reduced operation times, emergency room time, high-dependency. The key factors such as growing focus on microfluidics platform is propelling growth of Europe point of care diagnostic market. The staff shortage in the diagnostic laboratories is also boosting growth of Europe point of care diagnostic market. However, presence of stringent regulatory policies is hampering growth of Europe point of care diagnostic market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the point of care diagnostic market. In addition, complete analysis of changes on point of care diagnostic expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Europe economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings.
The Europe point of care diagnostic market is segmented by test type, mode of prescription, end user and country.
Based on product type, the Europe point of care diagnostic market is segmented into the glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. In which infectious disease testing is also contributing to the growth of Europe point of care diagnostic market. The rising prevalence of infectious diseases is propelling growth of Europe point of care diagnostic market. The rising cases of COVID-19 is also boosting growth of Europe point of care diagnostic market.
Based on mode of prescription, the Europe point of care diagnostic market is bifurcated into the prescription based and over the counter products. In which over the counter products is witnessing fastest growth of the market in 2020. The rising trend of OTC products over the prescription products is propelling growth of Europe point of care diagnostic market. The growing use of novel technologies is also boosting the growth of Europe point of care diagnostic market.
Based on end user, the Europe point of care diagnostic market is categorised into hospitals/critical care centres, ambulatory care settings, research laboratories and home care. In which ambulatory care settings is also contributing to the growth of Europe point of care diagnostic market. The ambulatory care settings provides the same day surgical care to the patients. The rising prevalence of chronic diseases is propelling growth of Europe point of care diagnostic market. The growing rate of surgical procedures is also boosting growth of Europe point of care diagnostic market.
The Europe point of care diagnostic market is studied for key countries such as United Kingdom, Germany, France, Italy and Spain. In which United Kingdom is anticipated to dominate the market in 2020. The growing prevalence of long term and chronic diseases is propelling growth of Europe point of care diagnostic market. The growing awareness regarding use of point of care products is boosting growth of Europe point of care diagnostic market.
The major key players operating in the market of point of care diagnostic market are Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton Dickinson And Company, Abbott Laboratories, Quidel Diagnostics, Chembio Diagnostics, Ekf Diagnostics, Trinity Biotech and Fluxergy among others.
June 2019: Abbott announced the launch of Affinion HbA1c Dx Assay , a point of care test for diabetes.
June 2019: Quidel Corporation received US FDA approval to commercialize Quidel Triage TOX Drug Screen
March 2019: Roche Diagnostics FDA approval for the VENTANA PD-L1 (SP142) Assay for identifying triple-negative breast cancer (TNBC) patients.
February 2019: Danaher acquired the Biopharma business of GE Life Sciences with an aim to established as a standalone operating company and strengthen the point of care diagnostics product portfolio.
The report analyses the point of care diagnostic market based on product type, mode of prescription, end user and country. Various types of products available in the point of care market are glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. By mode of prescription, the market is segmented into the prescription based and over the counter products. Based on end users, the market is segmented into the hospital/critical care centres, ambulatory care settings, research laboratory and home care. The study also analyses the impact of COVID-19 on the point of care diagnostic market and it founds that the outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings. The study also analyses various major key players operating in the market.
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