Stratview Research has published a new report titled “European In Vitro Diagnostics Market” which is segmented by Product Type (Instruments, Reagents, Software, and Services), by Technique Type (Immunology, Hematology, Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology, and Others), by Application Type (Infectious Diseases, Diabetes, Oncology/Cancer, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing, and Others), by End-User Type (Hospitals, Laboratory, Home Care, and Others), and by Country (Germany, France, The UK, Russia, Spain, and Rest of Europe).

As per the study, the European in vitro diagnostics market was estimated at USD 14.5 billion in 2021 and is likely to grow at a CAGR of 5.15% during 2022-2028 to reach USD 20.66 billion in 2028.

What are in vitro diagnostics?

In vitro diagnostics (IVD) tests are done on samples such as blood or tissue that have been taken from the human body. These tests are used to detect diseases and infections and to monitor the health of a person to treat and prevent diseases. In vitro simply means ‘in glass, thus these tests are performed in test tubes and similar equipment.

Market Drivers

Major factors driving the European in vitro diagnostics market growth are-

• An increase in the number of genetic disorders, 
• An increase in the number of incidences of chronic and infectious diseases,
• Growing awareness for the early diagnosis of life-threatening diseases,
• Increasing demand for point-of-care testing

Furthermore, technological advancements in the field of in vitro diagnostic technologies are expected to drive the growth of the market during the forecast period.

Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis –

Based on the product type, the market is segmented as instruments, reagents, software, and services. The reagents segment is expected to hold the major share of the market during the forecast period owing to its high precision and accuracy in diagnosis. Furthermore, the Covid-19 pandemic has increased the demand for reagents. Also, an increase in the use of self-diagnosis tests and the number of RD activities is expected to drive market growth during the forecast period.

Based on the technique type, the market is segmented as immunology, hematology, clinical chemistry, molecular diagnostics, coagulation, microbiology, and others. The molecular diagnostics segment is anticipated to register high growth in the market owing to the increasing demand for molecular diagnosis in infectious diseases. Furthermore, the rapid rise in chronic diseases, as well as the increase in the number of genetic disorders, is expected to drive market growth during the forecast period.

Based on the application type, the market is segmented as infectious diseases, diabetes, oncology/cancer, cardiology, nephrology, autoimmune diseases, drug testing, and others. The infectious diseases application type segment is estimated to account for the major share of the market during the forecast period on account of the increasing number of infectious diseases such as HIV-AIDS, hepatitis, and Respiratory Syncytial Virus. 

Which country is expected to remain the largest market?

In terms of country, Germany is estimated to be the leading country in the market over the forecast period. The growth of the market is owing to the increasing prevalence of infectious diseases and the growing demand for rapid tests. Furthermore, the presence of various manufacturing companies is expected to fuel market growth over the forecast period. The UK is also expected to offer substantial growth opportunities during the forecast period.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the European In Vitro Diagnostics Market:

• Abbott Laboratories, Inc.,
• Alere, Inc.,
• Bio-Rad Laboratories, Inc.,
• Cepheid, Inc.,
• Hologic, Inc.,
• OraSure Technologies,
• Qiagen N.V.,
• Quidel Corporation,
• Roche Diagnostics,
• Siemens Healthcare GmbH.

Key questions answered by the report

• What is the projected CAGR for revenue from the European In Vitro Diagnostics Market during the forecast period?
• What would be the market be valued at by 2027?
• What is a major driving factor for growth of the market?
• Which region accounted for largest revenue share in the European In Vitro Diagnostics Market?
• Which are the major market players?

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