Europe Multiplexed Diagnostics Market Report and Forecast 2024-2032

Europe Multiplexed Diagnostics Market Report and Forecast 2024-2032

Europe Multiplexed Diagnostics Market Report and Forecast 2024-2032

Europe Multiplexed Diagnostics Market Outlook

The global multiplexed diagnostics market size was valued at USD 12.9 billion in 2023, with Europe holding a significant market share. The market is driven by the rising advancements in diagnostic technology. It is expected to grow at a CAGR of 15.2% during the forecast period of 2024-2032, with the values likely to attain USD 46.2 billion by 2032.

Key Takeaways

• Recent data suggests that 1 out of 3 adults in the European Union (EU) are estimated to have a chronic disease. The rising prevalence of chronic diseases is expected to directly impact market demand.
• One of the significant Europe multiplexed diagnostics market trends is the increased investment in multiplexed technologies to develop novel diagnostic solutions. In May 2023 , Delta Diagnostics secured EUR 5.25 million in funding to support the development and marketing of its low-cost, rapid, and sensitive biosensor system for real-time biomolecule detection.
• The favorable regulatory environment is ensuring accelerated approvals and reduced time-to-market in the region. In October 2023 , a leading diagnostic company AliveDx received three IVDR CE marks for its automated MosaiQ solution, designed for rapid diagnosis of connective tissue diseases (CTD).

Europe Multiplexed Diagnostics Market Analysis

Multiplexing allows simultaneous detection and identification of multiple biomarkers in a single test. Multiplexed platforms help in the accurate diagnosis of various diseases along with offering insights into selecting the most effective treatment for a specific patient. The increased adoption of multiplexed diagnostic methods can be attributed to the advantages associated with these techniques such as reduced time and cost per analysis. Moreover, the growing interest in personalized medicine and the continuous technological advancements are expected to drive the Europe multiplexed diagnostics market growth in the forecast period.

In Europe, the prevalence of chronic diseases and infectious diseases is rapidly increasing. This impacts the market demand significantly. Recent data suggests that 1 out of 3 adults in the European Union (EU) are estimated to have a chronic disease. Moreover, the rising geriatric population in the region also fuels the demand for effective and affordable diagnostic techniques, as multi-morbidity (having two or more chronic conditions) rates are reported to be high in this population base. Thus, the rising prevalence of chronic diseases coupled with the growing elderly patient base is projected to boost Europe multiplexed diagnostics market share in the coming years.

The market whichs witnessing a favorable regulatory environmentwhichch ensures accelerated approvals and reduced time-to-market in the region. In October 2023 , a leading diagnostic company AliveDx received three IVDR (In-Vitro Diagnostics Regulation) CE marks for its automated MosaiQ solution, designed for rapid diagnosis of connective tissue diseases (CTD). The in-vitro diagnostics solution included MosaiQ Centromere Protein B (CENP-B) microarray, MosaiQ AiPlex CTD multiplexed microarray immunoassays, and MosaiQ AiPlex CTD Quality. These high throughput platforms can enable rapid turnaround times even for complex diagnostic pathways. The increased availability of CE-marked multiplexed testing portfolios in the European Union and other regions is likely to fuel Europe multiplexed diagnostics market demand.

One of the notable trends is the increased investment in multiplexed technologies to develop novel diagnostic solutions. In May 2023 , Delta Diagnostics (a biotechnology company) secured EUR 5.25 million in funding led by a consortium of 4 investors to support the development and marketing of its low-cost, rapid, and sensitive biosensor technology. The company’s biosensor method enables multiplexing for simultaneous analysis of biomolecules and can expedite life science research. Such substantial funding supports product development and its subsequent commercialization, is anticipated to propel market growth in the coming years.

Europe Multiplexed Diagnostics Market Segmentation  

Market Breakup by Product Type

• Reagents and Consumables
• Instruments
• Others

Market Breakup by Application

• Infectious Disease
• Oncology
• Autoimmune Diseases
• Cardiac Diseases
• Allergies
• Disease Diagnostics
• Molecular Diagnostics
• Others

Market Breakup by Technology

• Low Density Multiplexed Assays
• Medium Density Multiplexed Assays
• High Density Multiplexed Assays

Very High Density Multiplexed Assays

• Next-Generation Sequencing Assays
• Others

Market Breakup by End User

• Hospitals
• Pharmaceutical Companies
• Clinical Research Organizations
• Academic Research Institutes
• Diagnostic Laboratories
• Others

Market Breakup by Countries

• United Kingdom
• Germany
• France
• Italy
• Others

Europe Multiplexed Diagnostics Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Agilent Technologies Inc
• F. Hoffmann-La Roche Ltd
• BioMerieux
• Illumina, Inc
• Hologic, Inc
• Thermo Fisher Scientific Inc.
• Bio-Rad Laboratories Inc.
• Siemens Healthineers AG
• Boston Scientific Corporation
• Diasorin S.p.A

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Europe multiplexed diagnostics market forecast outlook for 2024-2032?

The Europe multiplexed diagnostics market size is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 15.2% during the forecast period of 2024-2032. It is likely to reach a market value of USD 46.2 billion by 2032.

• What are the major factors aiding the Europe multiplexed diagnostics market demand?

The growing prevalence of chronic diseases as well as infectious diseases are fuelling the demand for the market.

• What are the major Europe multiplexed diagnostics market trends?

One of the significant trends in the market is the increased investment in multiplexed technologies to develop novel diagnostic solutions. In May 2023, Delta Diagnostics secured EUR 5.25 million investment to support the development and marketing of its affordable, rapid, and precise biosensor system for real-time biomolecule detection.

• What is the market segmentation based on the product type?

Based on the product type, the market is segmented into reagents and consumables, instruments, and accessories, among others.

• What are the technologies available in the market?

Technologies available in the market include low density multiplexed assays, medium density multiplexed assays, high density multiplexed assays, very high-density multiplexed assays, and next-generation sequencing assays, among others.

• What are the major end users of multiplexed diagnostics?

End users of multiplexed diagnostics are hospitals, pharmaceutical companies, clinical research organizations, academic research institutes, and diagnostic laboratories, among others.

• What are the applications of multiplexed diagnostics?

Major applications of the market include infectious disease, oncology, autoimmune diseases, cardiac diseases, allergies, disease diagnostics, and molecular diagnostics, among others.

• What is the market segmentation by countries?

The market segmentation by countries includes the United Kingdom, Germany, France, and Italy, among others.

• Who are the key players involved in the Europe multiplexed diagnostics market?

The key players in the market are Agilent Technologies Inc., F. Hoffmann-La Roche Ltd, BioMerieux, Illumina, Inc., Hologic, Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Siemens Healthineers AG, Boston Scientific Corporation, and Diasorin S.p.A.

Meta description

The Europe multiplexed diagnostics market is poised for growth, driven by the expansion of the global market, which was valued at USD 12.9 billion in 2023 and is projected to grow at a CAGR of 15.2% during the forecast period of 2024-2032.

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