The Europe in vitro diagnostics market (IVD) was valued at $13,825 million in 2019, and is projected to reach $18,647 million at a CAGR of 4.8% from 2020 to 2027.
In vitro diagnostics (IVD) include medical devices, assays and reagents, which are employed in diagnosis of a medical condition. Furthermore, these instruments are employed in analysis of tissue samples and body fluids collected from a patient. Moreover, there are various types of in vitro diagnostic instruments that work on different techniques such as immunodiagnostics, tissue diagnostics, hematology, and molecular diagnostics. Furthermore, in vitro diagnostics are employed in diagnosis of various medical conditions such as infectious diseases, cancer, cardiac disorders, and nephrological disorders. Moreover, use and handling of in vitro diagnostics require technical expertise and thus, instruments are used in specialized medical facilities to carry out diagnosis. For instance, IVD products are used in facilities such as standalone laboratories, hospitals, and point-of care.
The major factor that contributes to the growth of the Europe in vitro diagnostic market is surge in number of in vitro diagnostic tests, which is attributable to rise in incidences of chronic and infectious diseases. Furthermore, growth in geriatric population, which is prone to immunological disorders is another major factor that boosts the growth of the market. Moreover, rise in use of personalized medicines in treatment of various chronic diseases such as cancer also fuels growth of the Europe in vitro diagnostics market. In addition, increase in technological advancements associated with in vitro diagnostic products, technologies, and software & services boosts the market growth. However, stringent government regulations and unfavorable reimbursement policies are anticipated to restrict growth of the Europe in vitro diagnostics market. On the contrary, potential for outsourcing present lucrative opportunities for key players in the Europe in vitro diagnostics market during the forecast period.
Covid-19 Impact On Europe In Vitro Diagnostics Market
Europe observed social distancing through nationwide lockdowns during the COVID-19 pandemic. This lead diverse changes in every industry such as new challenges in supply chains, rising and falling demands of products, availability of resources and others. Similarly, in vitro diagnostics market in Europe was also affected by the COVID-19 outbreak. In addition, the impact was either positive or negative for different sectors of in vitro diagnostics industry. For instance, the impact of nationwide lockdowns in Europe was not favorable for the some of the in vitro diagnostic services. However, the sudden demand for new IVD products for COVID-19 testing resulted in key players launching various type of test kits. Therefore, the new test kits were granted Conformité Européene (CE) Mark in Europe which ensured the availability of safe the test kits.
Europe In Vitro Diagnostics (Ivd) Market Segmentation
The report segments the market into product & service, technique, application, end user, and region. On the basis of product & service, the market is segmented into chemicals & reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELISA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others.
The clinical chemistry segment is further divided into basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, specialty chemicals, and others.
On the basis of application, the market is segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others. On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others. Country wise, the market is analyzed across Germany, France, the UK, Italy, Spain, and rest of Europe.
Segment Review
On the basis of product & service, the chemicals & reagents segment acquired major share in 2019. The growth of the segment is attributed to the fact that chemicals & reagents are a vital part of every in vitro diagnostic test. Hence, the aforementioned factors contribute to the growth of this segment. In addition, the instruments segment is expected to grow at the fastest CAGR during the forecast period, owing to rise in focus of key players toward launching of new instruments.
By Product Type
Instruments segment is projected as one of the most lucrative segment.
By application, the infectious diseases segment has the highest potential, owing to increase in incidences of HIV-AIDS, hepatitis, and other infectious diseases.
By Application
Infectious Diseases segment held a dominant position in 2019 and will continue to maintain the lead over the forecast period.
Germany is expected to be the leader in the Europe in vitro diagnostics market during the forecast period, owing to surge in prevalence of infectious diseases, which lead to rise in use of immunodiagnostics used in infectious disease diagnostics. In addition, other factors such as rise in use of rapid tests such as continuous glucose monitoring and flash glucose monitoring also contribute to the growth of the Germany in vitro diagnostics market. Moreover, the UK is expected to register the highest growth rate during the forecast period, owing to rise in incidences of seasonal flu, leading to rise in use of point-of-care testing. In addition, rise in awareness related to use of in vitro diagnostics is another major factor that contributes to the growth of the Europe in vitro diagnostics market.
By Country
UK would exhibit the highest CAGR of 6.8% during 2020-2027.
The Europe in vitro diagnostics market is highly competitive and prominent players in the market have adopted various strategies to garner maximum in vitro diagnostics market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.
Key Benefits For Stakeholders
This report entails a detailed quantitative analysis along with the current and future Europe in vitro diagnostics market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
The Europe in vitro diagnostics market forecast is studied from 2020 to 2027.
The Europe in vitro diagnostics market size and estimations are based on a comprehensive analysis of key developments in the industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key Europe in vitro diagnostics market players are enlisted to understand the competitive scenario of the market.
Europe In Vitro Diagnostics Market Report Highlights
| Aspects | Details |
 By Product Services |
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 By Techniques |
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 By Application |
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 By End User |
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 By Country |
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 Key Market Players | DANAHER CORPORATION (BECKMAN COULTER, INC.), QIAGEN N.V., BIOMÉRIEUX SA, SYSMEX CORPORATION, BECTON, DICKINSON AND COMPANY, BIO-RAD LABORATORIES, INC., ABBOTT LABORATORIES, HOFFMANN-LA ROCHE AG., THERMO FISHER SCIENTIFIC, INC., SIEMENS AG (SIEMENS HEALTHINEERS) |
Analyst Review
In accordance to several interviews conducted, the utilization of in vitro diagnostic techniques is likely to witness a significant rise with increase in diseases diagnosis. The Europe in vitro diagnostics market has piqued the interest of the healthcare industry, owing to its high accuracy and precise techniques, coupled with wide range of applications across various medical conditions, such as oncology, sexually transmitted diseases (STDs), chronic diseases, genetic testing, and infectious diseases. Furthermore, there have been remarkable advancements and some major developments in this market, such as devices with more throughput and accurate results. In addition, increase in chronic & infectious diseases, use of automated instruments, and rise in awareness regarding early diagnosis of medical condition for better treatment also fuels the growth of market.
According to the perspectives of CXOs of leading companies in the market, personalized medicine approach, cost-effective treatment, and technological advancements are some of the major factors that drive the Europe in vitro diagnostics market. However, lack of reimbursement rules and stringent regulatory policies hamper the market growth. Presently, standalone laboratories are the largest end users of IVD techniques in Europe followed by hospitals.
The total market value of Europe in vitro diagnostics market is $13,824.81 million in 2019.
The forcast period for Europe in vitro diagnostics market is 2020 to 2027
The market value of Europe in vitro diagnostics market in 2020 is $13,468.55 million.
The base year is 2019 in Europe in vitro diagnostics market
Top companies such as, F. Hoffmann-La Roche AG, Danaher Corporation (Beckman Coulter, Inc.), Thermo Fisher Scientific, Inc., Abbott Laboratories, and Dickinson and Company held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.
Instruments segment is the most influencing segment as these devices are fully automated instruments and these simplify a task and provide more accurate and reliable results.
The major factor that fuels the growth of the global Europe in vitro diagnostics market includes rise in prevalence of various chronic diseases such as diabetes, cancer and others which require the use of in vitro diagnostics
UK has the highest growth rate in the market with a CAGR of 6.8%. This is due to surge in prevalence of seasonal flu and rise in adoption of in vitro diagnostic testing in the country.
In vitro diagnostics is defined as medical devices which are used by laboratories to perform diagnostic tests inside a laboratory.
In vitro diagnostics (IVD) are used to examine specimens such as blood, urine, stool, tissues, and other body fluids, which are derived from human body to detect diseases, conditions, and infections.
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