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The Europe molecular point of care diagnostics market is evaluated to record a CAGR of 15.21% during the forecast period, 2019-2028. The initiatives undertaken by several European governments for enhancing the implementation of precision medicine, for better treatment outcomes and reducing the healthcare burden, along with the availability of CLIA waved molecular diagnostics point of care, are the factors contributing to the growth of the market.
The Europe molecular point of care diagnostics market analysis entails the market evaluation of Germany, the United Kingdom, Italy, Russia, Poland, Belgium, France, and the rest of Europe. In Germany, there has been an increase in per-capita healthcare expenditure since 2000. The restructuring of reimbursement and pricing systems to leverage the potential of drug-diagnostic pairings is estimated to be beneficial for market growth. The increasing inclination towards clinical studies has expanded the adoption of molecular-based point of care tests in a considerable manner. There is also a growing demand for targeted diagnosis in order to lessen the unnecessary expenditure on expensive targeted treatment. Moreover, the innovative strategies undertaken by established companies and the investments by the emerging companies in companion diagnostics research, are further projected to stimulate the growth of the market.
In Italy, the government is actively promoting the application of precise diagnostics and therapeutics. There has been a rising acceptance of the risk-sharing agreement by pharmaceutical companies associated with targeted drugs and infrastructure establishment. This has paved the way for enhanced patient access to advanced diagnostics. The nationwide assessment protocols and the standardization of molecular diagnostics point of care device selection are the other major factors expected to favor market growth in the country.
Some of the prominent companies in the market include, Hologic Inc, Spartan Biosciences Inc, Mesa Biotech, F Hoffmann-La Roche AG, Luminex Corporation, etc.
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