Europe In Vitro Diagnostics Market by Product & Service(Chemicals &Reagents, Instruments, and Software & Services), Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Others), Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Others), and End User (Standalone Laboratory, Hospitals, Academic & Medical Schools, Point of Care, and Others): Opportunity Analysis and Industry Forecast, 2020–2027
The Europe in vitro diagnostics market (IVD) was valued at $13,825 million in 2019, and is projected to reach $18,647 million at a CAGR of 4.8% from 2020 to 2027.
In vitro diagnostics (IVD) are defined as medical devices and reagents, which are used to examine specimens such as blood, urine, stool, tissues, and other body fluids, which are derived from human body to detect diseases, conditions, and infections. The tests can be performed in standalone laboratory, hospital-based laboratory, and point-of-care centers. Some significant technologies incorporated in in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology, and mass spectrometry, which are used for test sample preparation. Moreover, other techniques that are used to perform in vitro diagnosis involve clinical chemistry, tissue diagnostics, immunodiagnostics, hematology, and others. For instance, in clinical chemistry various tests are performed in laboratory such as liver panel test, lipid profile, thyroid function test, and others.
Furthermore, a thyroid function test is performed by collecting blood from a patient, which is then tested to check the level of thyroid stimulating hormone (TSH) in blood. Similarly, others such as polymerase chain reaction (PCR) are used to detect the presence of infectious diseases such as HIV and hepatitis. In addition, constant innovations related to IVD products, service designs, and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines. For instance, some products that are used to perform various in vitro diagnostic tests using various technologies involve real time PCR detection systems, immunoassay systems, and others.
The major factor that contributes to the growth of the Europe in vitro diagnostic market include surge in number of in vitro diagnostic tests, which is attributable to rise in incidences of chronic and infectious diseases. Furthermore, growth in geriatric population, which is prone to immunological disorders is another major factor that boosts the growth of the market. Moreover, rise in use of personalized medicines in treatment of various chronic diseases such as cancer also fuels the growth of the market. In addition, increase in technological advancements associated with in vitro diagnostic products, technologies, and software & services boosts the market growth. However, stringent government regulations and unfavorable reimbursement policies are anticipated to restrict the growth of the Europe in vitro diagnostics market. On the contrary, potential for outsourcing present lucrative opportunities for key players in the Europe in vitro diagnostics market during the forecast period.
The report segments the market into product & service, technique, application, end user, and region. On the basis of product & service, it is segmented into chemicals & reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELSIA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others.
On the basis of application, the market is segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others. On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others. Country wise, the market is analyzed across Germany, France, the UK, Italy, Spain, and rest of Europe.
The major players in the in vitro diagnostics market are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.
KEY BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis along with the current Europe in vitro diagnostics market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
The market size and estimations are based on a comprehensive analysis of key developments in the industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
Key Market Segments
By Product & Service
Chemicals & Reagents
Software and Services
Enzyme-Linked Immunosorbent Assay (ELISA)
Chemiluminescence Immunoassay (CLIA)
Fluorescence immunoassay (FIA)
Colorimetric Immunoassay (CI)
Enzyme-Linked ImmunoSpot (ELISPOT)
Polymerize Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INAAT)
Basic Metabolic Panel
Thyroid Function Panel
Immune System Disorders
By End User
Academic & Medical Schools
Rest of Europe
List of key players profiled in the report:
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
Danaher Corporation (Beckman Coulter, Inc.)
F. Hoffmann-La Roche AG
Thermo Fisher Scientific, Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Johnson & Johnson
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