Europe IVD Market Will Be Worth $15.5 Billion By 2024: Grand View Research, Inc.
The Europe IVD market is expected to reach over USD 15.5 billion
by 2024 according to a new report by Grand View Research, Inc. This expected
increase in the demand is ascribed to the presence of novel and promising
technologies in clinical laboratories, such as the introduction of Troponin T
test by Roche Diagnostics in May, 2011.
Persistent research and
development efforts made to introduce automation in laboratories that perform
analytical testsare projected to propel the market growth over the forecast
period. Clinical laboratory operations require automated analyzers to cope with
the large test volumes,which enhance the overall operational workflow. It
minimizes the need for dedicated operator training andnegates the risk of human
errors. In addition, the rising demand for portable and handheld IVD devicesis
one of the major factors pushing forward the growth of the market.
The increasing prevalence of
chronic diseases, such as diabetes, cancers, and cardiac dysfunctions and the
rising geriatric population coupled with the rising awareness towards early
diagnosis in low-income countries, such as Bulgaria, Finland, Malta, and Estoniaare
the potential drivers of the Europe IVD market.
Browse full research report on Europe In Vitro
Diagnostics (IVD) Market: http://www.grandviewresearch.com/industry-analysis/europe-in-vitro-diagnostics-ivd-market
Further key findings from the study suggest:
- In 2015, the reagents segment dominated the Europe
IVD market due to its increasing number of applications in the companion
diagnostics area and the introduction of disease specific kits, such as
the XpertTB kit
- The IVD instruments market is anticipated to show
lucrative growth due to the introduction of portable instruments, such as
MinION Analyzer by Oxford Nanopore, and the availability of various
platforms to performtarget sequence analysis, thereby driving the overall
demand
- Germany is one of the largest segments in 2015 with a
share of over 19% owing to the presence of a larger geriatric population
base in this region and the amendment ofthe German lawfor the prevention
of hospital-acquired infections
- UK is expected to be the fastest growing regionduring
the forecast period.The rising demand for the point-of-care devices
coupled with the government interventions to incorporate innovative, cost-effective
solutions in the healthcare services are expected to drive the market
growth during the forecast period.
- The hospital-based IVD testing segment held the
largest share of over 45% in 2015. The highprocedure volumes in this
segment, is one of the major reasons resulting inthehigh share and;hence,
is anticipated to maintain its market position over the forecast period.
- The market players of the Europe IVD market include
Alere, Inc., bioMerieux, Inc., Hologic, Inc. (Gen-Probe), Roche
Diagnostics, Qiagen N.V., Bio-Rad Laboratories, Inc., Quidel Corporation,
Abbott Laboratories, Inc., Becton, Dickinson (BD) and Company, Inc., and
Siemens Healthcare GmbH
- The presence of major IVD market players in Europe
accelerates the penetration of the IVD products throughout the European
Union. For instance, in September 2014, Roche Diagnostics launched the CE
approved Cobas 6800/8800 systems, which offers IVD-based viral load
monitoring withenhanced flexibility and automation.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the Europe IVD market on
the basis of product, technology, application, test location, and region:
Europe In-Vitro Diagnostics (IVD) Market, by Product (USD
Million), 2013 - 2024
- IVD
Instruments
- IVD
Reagents
- Services
- Data
Management
Europe In-Vitro Diagnostics (IVD) Market, by Technique
(USD Million), 2013 - 2024
- Immunochemistry
- Microbiology
- Molecular
diagnostics
- Hematology
- Clinical
Chemistry
- Coagulation
- Other
Clinical Instruments
Europe In-Vitro Diagnostics (IVD) Market, by Application
(USD Million), 2013 - 2024
- Infectious
Diseases
- Diabetes
- Oncology/Cancer
- Cardiology
- Nephrology
- Autoimmune
Diseases
- Drug
Testing
- Others
Europe In-Vitro Diagnostics (IVD) Market, by End-use (USD
Million), 2013 - 2024
- Hospitals
- Laboratory
- Patient
self-testing
- Point-of-care
testing
- Academics
- Others
Europe In-Vitro Diagnostics (IVD) Market, by Country (USD
Million), 2013 - 2024
- Germany
- UK
- France
- Switzerland
- Spain
- Italy
- Belgium
- Austria
- Netherlands
- Sweden
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/europe-in-vitro-diagnostics-ivd-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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