Europe Point-of-Care Data Management Software Market

Market Introduction

Point-of-Care (POC) devices are described as medical diagnostic devices used for testing at or near the point of care, at time and place of patient care. The purpose of POCT is to provide immediate information to physicians about the patient's condition. Point-of-care data management software is a platform that is used in various locations in the hospital, in critical care settings such as the intensive care unit (ICU), the operating room (OR), and the emergency department (ED). It facilitates the patients' health data management and analysis.

Europe Point-of-Care Data Management Software Strategic Insights

Strategic insights for the Europe Point-of-Care Data Management Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Point-of-Care Data Management Software Report Scope

Europe Point-of-Care Data Management Software Regional Insights

The geographic scope of the Europe Point-of-Care Data Management Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Europe point-of-care data management software market is expected to reach US$ 241.18 million by 2027 from US$ 138.54 million in 2020; it is estimated to grow at a CAGR of 8.2% from 2020 to 2027. The growth of the market is attributed to the increasing incidence of infectious diseases and lifestyle-related diseases, and rising product launches and development for data management. However, the high cost of point-of-care data management systems hinders the market growth.

Point-of-care (POC) data management software facilitates the patients' health data management and analysis.  Also, the growth of the Europe point-of-care data management software market is likely to proceed with the help of the introduction of new products into the market, which aim to deliver inexpensive care at the facilities located at the closest-possible distances from the patients’ location. New technologies or products are being refined and improved to deliver easier-to-use devices with incremental improvements in analytical performance. Moreover, the market growth is attributed to the increasing strategies such as product innovations, mergers, and acquisitions by the key market players to expand their reach and stay competitive in the market. For instance, in March 2020, Siemens Healthineers and Marienhaus Hospital Group entered in a partnership, with an option to extend for an additional five years. Siemens Healthineers has planned for a digital strategy to interconnect 18 hospitals with Marienhaus to streamline clinical processes. The alliance may provide the replacement and management of around 130 medical imaging devices at the German states of North Rhin. Such advancements in newly launched devices would propel the overall market growth during the forecast period.

Europe has been recording the growing number of COVID-19 confirmed cases since its outbreak. Surging research activities to develop POC test kits against COVID-19 and extensive clinical research to identify effective therapies are likely to favour the growth of the Europe point-of-care data management software market. However, as per the news article, due to the outbreak, access for detection, diagnosis, and scans for thousands of cancers, diabetes, and hematology patients in Italy has become difficult. Moreover, due to ongoing impact of COVID-19 pandemic, certain software updates or launches have been rescheduled or delayed. Thus, the above-mentioned factors are hindering the growth of market in Europe.

Key Market Segments

The Europe point-of-care data management software market, based on application, is segmented into infectious disease devices, glucose monitoring, coagulation monitoring, urinalysis, cardiometabolic monitoring, cancer markers, and hematology. In 2019, the glucose monitoring product segment held the largest share of the market. However, the cancer markers segment would register the highest CAGR in the market during the forecast period.

The Europe point-of-care data management software market, based on end user, is segmented into hospitals/critical care units, diagnostic centres, and clinics/outpatient. In 2019, the hospitals/critical care units segment held the largest share of the market. The market for the same segment is expected to grow at the fastest rate during the coming years.

Major Sources and Companies Listed

A few of the primary and secondary sources referred to while preparing the report on the Europe point-of-care data management software market are the National Health Service (NHS), International Diabetes Federation (IDF), Spanish Society of Medical Oncology (SEOM) and Istituto Nazionale di Statistica (ISTAT).

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EUROPE POINT-OF-CARE DATA MANAGEMENT SOFTWARE MARKET SEGMENTATION

By Application

•  

•   Hematology

•   Cardiometabolic Monitoring

•   Infectious Disease Devices

•   Coagulation Monitoring

•   Cancer Markers

•   Urinalysis

•   Others

By End User

• Hospitals/Critical Care Units
• Diagnostic Centers
• Clinics/Outpatient

By Country

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• Abbott
• Siemens Healthineers AG
• F. HOFFMANN-LA ROCHE LTD.
• Randox Laboratories Ltd
• Radiometer Medical ApS
• THERMO FISHER SCIENTIFIC INC.
• Medical Information Technology, Inc.