Europe Diagnostics Market: Trends, Opportunities, And Forecasts For 2018-2028

Posted by Kumar on June 1st, 2023

The Europe diagnostics market is projected to witness impressive growth during the forecast period, according to a report by TechSci Research titled "Europe Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Country, Forecast & Opportunities, 2028." This growth can be attributed to the increasing number of diagnostic centers, laboratories, and point-of-care testing centers in the region. Moreover, the adoption of advanced technologies and lab automation in the healthcare industry is expected to drive market growth until 2028.

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Investments in advanced healthcare infrastructure and the introduction of new diagnostic products, instruments, and testing techniques by major market players will also create lucrative opportunities in the coming years. The market is further fueled by the associated benefits of early disease detection, disease management, ease of sample procurement, quick results delivery, affordability, and reduced pain. However, stringent regulatory approvals for diagnostic products, kits, reagents, and instruments may pose a challenge to market growth until 2028, along with slow reimbursement rates.

The Europe diagnostics market is segmented based on product type, type of test, technique, usability, application, end user, company, and region. Product types include reagents, instruments, and software & services. The instrument segment is expected to witness significant growth due to the rising demand for advanced medical instruments and equipment that provide accurate and reliable diagnostic test results. Techniques in the market include immunodiagnostics, molecular diagnostics, tissue diagnostics, clinical techniques, and others. Molecular diagnostics are anticipated to dominate the market, driven by their increasing application in point-of-care testing and pharmacogenetics, as well as the growing prevalence of chronic diseases requiring blood tests. End users are categorized as hospitals & clinics, diagnostic centers, point-of-care testing centers, private or commercial laboratories, and others. Hospitals are expected to hold the largest market share due to the high volumes of tests conducted in these facilities. However, point-of-care testing centers are projected to experience significant growth, particularly due to the increasing geriatric population with various diseases and the immediate results provided by these tests, which contribute to improved patient care.

Key players operating in the Europe diagnostics market include Roche Diagnostics, Alere, Inc., Abbott Laboratories, Inc., Hologic, Inc. (Gen-Probe), Qiagen N.V., Bio-Rad Laboratories, Inc., Quidel Corporation, Becton, Dickinson (BD) Company, Inc., bioMerieux, Inc., Siemens Healthcare GmbH, and others. These companies employ organic strategies such as product launches, mergers, and collaborations to enhance their market share.

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“European countries have a highly regulated healthcare infrastructure owing to the presence of major healthcare and pharmaceutical companies in the region. The Europe diagnostics market is expected to grow at a formidable rate owing to the increasing awareness regarding preventive healthcare among the population. Additionally, supportive government policies and schemes for promoting better healthcare and disease prevention are further expected to create lucrative opportunities for the market growth through 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Country, Forecast & Opportunities, 2028”, has evaluated the future growth potential of Europe diagnostics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe diagnostics market.