About IVD Market in Europe
IVD tests help diagnose, monitor, and assess medical conditions, diseases, and infections in a controlled environment. These tests help in early diagnosis of diseases by enhancing control on test procedures and provide accurate results, leading to quality treatment and shorter hospital stays. They are also minimally invasive and help in lowering treatment costs. Manufacturers develop reagents, analytical instruments such as automated analyzers, and accessory products including software to measure the quality and parameters of samples.
Technavio’s analysts forecast the IVD market in Europe to grow at a CAGR of 4.78% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the IVD market in Europe for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of IVD consumables and instruments in EU27 countries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – IVD Market in Europe 2016-2020
Technavio recognizes the following companies as the key players in the IVD Market in Europe: Abbott Laboratories, Beckman Coulter, Inc, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc.
Other Prominent Vendors in the market are: Abaxis, A. Menarini Diagnostics, Acon Laboratories, Bio-Rad Laboratories, Cepheid, Chembio Diagnostic Systems, Clarity Diagnostics, DiagCor, Helena Laboratories, Hologic, i-Sens, Landwind Medical, Mindray, Nipro Diagnostics, Randox Laboratories, Snibe Diagnostics, Span Diagnostics, Sysmex, Trivitron Healthcare, and URIT.
Commenting on the report, an analyst from Technavio’s team said: “Government healthcare systems, such as the National Health Service in the UK, are emphasizing on the efficiency and sustainability of treatment options to improve patient outcome. This is compelling medical facilities to adopt advanced technologies for early diagnosis and prevention of diseases, to help reduce the duration of hospital stays and treatment costs. Immunodiagnostics are reliable and efficient testing devices with a high degree of sensitivity to pathogens and abnormal DNA. These devices offer shorter turnaround time and higher productivity, and are easy to operate.”
According to the report, the governments of countries in Europe are compelling hospitals and healthcare centers to lower medical expenses without compromising on the quality of treatment. These medical facilities are also required to improve patient outcomes. This has led medical facilities in Europe to implement measures to enable early diagnosis and prevention of diseases to reduce hospital stays and treatment expenses, as well as overall healthcare expenditure.
Further, the report states that intense competition among vendors and SMEs lead to price wars and reductions in the average selling price of IVD.
Abbott Laboratories, Beckman Coulter, Inc, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, Thermo Fisher Scientific Inc, Abaxis, A. Menarini Diagnostics, Acon Laboratories, Bio-Rad Laboratories, Cepheid, Chembio Diagnostic Systems, Clarity Diagnostics, DiagCor, Helena Laboratories, Hologic, i-Sens, Landwind Medical, Mindray, Nipro Diagnostics, Randox Laboratories, Snibe Diagnostics, Span Diagnostics, Sysmex, Trivitron Healthcare, URIT.
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