The new report by Expert Market Research titled, ‘Europe In-Vitro Diagnostics Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe in-vitro diagnostics market, assessing the market based on its segments like products and services, technology, applications, end-uses, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Europe In-Vitro Diagnostics Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028) `
• Forecast CAGR (2023-2028): 4.2%
The major factor contributing to the growth of Europe’s in-vitro diagnostic market is the surge in the number of in vitro diagnostic tests, which is attributable to the rise in incidences of chronic and infectious diseases. Also, growth in the geriatric population, which is prone to immunological disorders, is another major factor that enhances the growth of the market.
In addition, the rise in awareness related to the use of in-vitro diagnostics is another major factor contributing to Europe’s growth in-vitro diagnostics market. Several leading companies are offering in-vitro diagnostic (IVD) solutions that deliver rapid, sensitive results while minimizing cost and complexity.
Modern in-vitro diagnostics (IVDs) enable better diagnosis for preventing and managing infectious and chronic diseases. These factors are anticipated to drive the market growth in Europe.
Europe In-Vitro Diagnostics Industry Definition and Major Segments
Early warning indications and specific risk factors can be found using in-vitro diagnostics, offering up new opportunities for prevention and early intervention. With the use of some in-vitro diagnostics, people with chronic illnesses can self-monitor and manage their own symptoms outside of the constraints of the lab, hospital, or doctor’s office.
By product and services, the market is segmented into:
• Reagents and Kits
• Instruments
• Software and Services
Based on technology, the market is classified into:
• Immunoassay/Immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Haematology
• Microbiology
• Blood Glucose Self-monitoring
• Coagulation and Haemostasis
• Urinalysis
• Others
The major applications of the market are:
• Infectious Diseases
• Diabetes
• Cardiology
• Oncology
• Autoimmune Diseases
• Nephrology
• Others
The end-uses of the market are segmented into:
• Hospitals
• Laboratories
• Homecare
• Others
On the basis of country, the market is classified into:
• United Kingdom
• Germany
• France
• Italy
• Others
Europe In-Vitro Diagnostics Market Trends
The rise in the use of personalised medicines in the treatment of various chronic diseases, such as cancer, is fuelling the growth of Europe in-vitro diagnostics market. An increase in technological advancements associated with in vitro diagnostic products, technologies, and software and services is propelling the market growth.
The market for in-vitro diagnostics in Germany is expanding as a result of a number of other causes, including the increased usage of quick tests like continuous glucose monitoring and flash glucose monitoring. Moreover, the United Kingdom is expected to register the highest growth rate during the forecast period, owing to a rise in incidences of seasonal flu, leading to a rise in the use of point-of-care testing.
Key Market Players
The major players in the market are:
- F. Hoffmann-La Roche Ltd
- QIAGEN GmbH
- BioMérieux Inc
- Siemens Healthineers AG
- ELITechGroup
- Oncgnostics GmbH
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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