Europe Point-of-Care Data Management Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application and End User

The glucose monitoring product segment by application is estimated to lead the market growth during the forecast period.

According to this study, the Europe point-of-care data management software market is expected to reach US$ 241.18 million by 2027 from US$ 129.25 million in 2019; it is estimated to grow with a CAGR of 8.2% from 2020 to 2027. The report highlights trends prevailing in the Europe point-of-care data management software market and the factors driving market along with those that act as hindrances.

The Europe point-of-care data management software market, based on application was 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 is registering the highest CAGR in the market during the forecast period.

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.

Abbott, Siemens Healthineers AG, TELCOR Inc., F. HOFFMANN-LA ROCHE LTD., Orchard Software Corporation, Randox Laboratories Ltd, DataLink Software, LLC., Radiometer Medical ApS, THERMO FISHER SCIENTIFIC INC., and Medical Information Technology, Inc. are among the leading companies operating in the Europe point-of-care data management software market.

The report segments in Europe point-of-care data management software market as follows:

By Application

• Glucose Monitoring
• 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