Europe POCT Market is registering a fastest CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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Point-of-care testing (POCT) is defined as the testing of samples taken from a patient and performed at or near the bedside, with the result leading to possible changes in the care of that individual. It is a diagnostic test which is conducted close to the site where clinical care needs to be delivered. POCT is often accomplished through the use of light, portable, and handheld instruments (blood glucose meter, INR meter). POCT is an alternative to central or core laboratory testing.
The technological advancements made it possible for the consumers to perform various laboratory tests at near or point of care settings. The POCT devices have enabled the healthcare professionals to get rapid excess to test results allowing further efficiency. In the absence of these technologies for any immediate health risk the professionals would have to wait and review all results to reach a conclusion as a part of patient management decision.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, Abbott announced the acquisition of Cephea Valve Technologies, Inc. in January 2019. Cephea Valve Technologies, Inc. is engaged in manufacturing less-invasive heart valve replacement technology for mitral valve disease. With this acquisition, Abbott aims at building a strong position for manufacturing products for structural heart therapies. Since 2009, Abbott is engaged in developing minimally invasive solutions for mitral valve disease. With this acquisition; Abbott aims at holding a strong position in offering solutions for mitral valve diseases and capture the opportunity for being a leader in one of the highest revenue generating market.
Thus, Abbott dominated the POCT market and accounts for the highest market share in 2018 which is followed by F. Hoffmann-La Roche Ltd and Biomérieux SA. The other key players existing in the market includes Siemens, Danaher, Abaxis, Acon Laboratories, Inc, Becton, Dickinson And Company, Bio-Rad Laboratories, Inc , Cavidi, Chembio Diagnostic Systems, Inc. and others.
Abbott headquartered in Illinois, U.S. was incorporated in 1888. Company manufactures products for diagnostics, medical devices, nutrition and branded generic pharmaceuticals. The company has five operating divisions namely, Established Pharmaceuticals, Nutritionals, Diagnostics, Cardiovascular, Neuromodulation, and others.
It has its global networks through direct sales representatives and distributors in the Americas, Asia-Pacific, Europe, Middle East and South Africa. The company has various subsidiaries such as Alere Inc. (U.S.), Abbott Medical Optics Inc. (U.S.), EAS (U.S.), Abbott India Ltd (India), Thoratec Corporation (U.S.), Abbott Informatics (U.S.), Cardio MEMS (U.S.), CFR Pharmaceuticals (Chile), Abbott GmbH & Co. KG (Germany), and others.
F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. headquartered in Grenzacherstrasse, Switzerland was incorporated in 1896. The company is focused on the development, sales and manufacture pharmaceuticals and diagnostics. The company operates through two business segments which include Pharmaceuticals and Diagnostics. The market focused segment is Diagnostics.
It has its global networks through direct sales representatives and distributors in more than 50 countries in the Europe, North America, Asia, Africa, Australia and Oceania. It operates through its subsidiaries such as Genentech, Inc (U.S), Roche Diagnostics Limited (U.K), Chugai Pharmaceutical Co (Japan), Flatiron Health, Inc (U.S), Ventana Medical Systems (U.S), Kapa Biosystems, Inc (U.S)
Biomérieux SA is headquartered in Marcy-l'Étoile, France, founded in 1963. The company focuses on manufacturing and sales of various in-vitro diagnostics and microbiology testing services for the treatment of various infectious diseases. Biomérieux SA offers products in the field of Clinical Solutions, Industry Solutions, Product Quality and Safety. With Clinical solutions being main focus of our market.
The company has wide geographical presence in more than 60 countries globally including presence in Asia-Pacific, Europe, Middle Eastern Africa, North America and South America. It operates through its subsidiaries such as Invisible Sentinel Inc. (France), PML Microbiologicals, Inc. (U.S.), Biomérieux Brasil S.A. (Brazil), Astute Medical, Inc. (U.S.), BTF Pty Ltd. (France), and others