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Europe IVD Market Overview:
The Europe IVD Market is accounted for $19,124 million in 2016, and is estimated to reach $26,623 million by 2023, growing at a CAGR of 4.7% during the analysis period (20172022). IVD diagnostics involve non-invasive tests performed on biological samples such as, blood, urine, and tissues to detect the diseases. These tests are used for diagnosis, screening, and therapeutic monitoring of diseases. In addition, IVD tests is performed in laboratories, hospitals, and special tests such as, pregnancy tests and glucose monitoring that are performed at home.
Rise in incidence & prevalence of chronic disease, technological advancements in IVD technique, and rise in healthcare expenditure fuel the market growth during the analysis period. However, shortage of experienced healthcare professionals and lack of awareness among the population restrict the growth of the market.
Market Segmentation
Segment Review
Based on product type, the market is categorized into reagents, instruments, and software & services. The reagent segment accounted for the highest market share in 2016, and the software & services is expected to grow at the highest growth rate during the forecast period. The growth of the reagent market is attributed to the recent introduction of new novel reagents and wide availability of effective and cost-efficient reagents. On the basis of techniques, the immunodiagnostics segment captured the highest market share in 2016, owing to the increase in demand for personalized medicines. On the basis of application, infectious diseases segment captured the highest market share in 2016, owing to the increase in prevalence of infectious diseases and rise in preventive healthcare awareness among the population. Based on end users, the standalone laboratory segment captured the highest market share in 2016, primarily due to non-availability of complex tests in hospitals and commercial clinics.
Top Investment Pocket
Country Wise Review
Country wise, it is analyzed across the UK, Germany, France, Italy, Spain, and Rest of Europe. Germany accounted for the highest share of the market in 2016, followed by China. France is anticipated to witness the highest growth rate during the forecast period. Increase in prevalence of chronic and infectious diseases and rise in government investments for R&D and the healthcare drive the market growth. France is expected to emerge as the area with maximum growth potential due to focus of key players in the emerging economies and improvement in healthcare infrastructure.
Europe IVD Market ($Million), 2017-2023
Increase in Prevalence of Chronic Diseases
IVD market in the European countries is in trend due to increase in incidences of chronic diseases such as cancer, cardiovascular diseases, neurodegenerative disorder, and diabetes. Chronic disease is a leading cause of death in Europe, for instance, the incidence of chronic diseases is high in high-income countries. According to WHO, incidence, prevalence, severity and duration, and mortality for more than 130 major causes, which includes data since 2000 for WHO member countries and for sub-regions throughout the world (WHO 2008a, WHO 2008b; WHO 2009). Thus, high share of chronic diseases compared with communicable, maternal, perinatal and nutritional conditions, as well as injuries in low income, lower middle income, upper middle income, and high-income countries.
Rise in Geriatric Population
The Europe IVD market is on an increase owing to rise in geriatric population as there is a rise in the number in volume of chronic diseases. For instance, the population of the EU-28 on January 1, 2016 was estimated at 510.3 million. Young people (0 to 14 years old) made up 15.6 % of the EU-28s population, while people considered to be of working age (15 to 64 years old) accounted for 65.3 % of the population. Older people (aged 65 or over) had a 19.2 % share (an increase of 0.3 % compared with the previous year and an increase of 2.4 % compared with 10 years earlier), which estimated that European countries accounted for highest aging population and size of aging population continues to lead during the forecast period.
Technological Advancement in IVD
In the past 50 years, IVD technologies were used only in clinical labs. Initially, pregnancy test was undertaken in laboratories; however, these days the tests are conducted at home by placing urine samples on test sticks. These offer accurate results, are less time consuming, and can be easily performed. Similarly, the blood glucose levels testing can be done using point-of-care testing devices such as glucometer. Similarly, the HIV test can also be conducted at home using a mouth swab that is inbuilt in the diagnosis device. It provides results in 2040 minutes. Previously, these tests were carried out in clinical laboratories where individual blood sample was taken.
Major companies operating in the market adopt product launch as their key development strategy. Companies profiled in this market include Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson.
Key Benefits:
- The study provides an in-depth analysis of the Europe IVD market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities
- Extensive analysis by technology and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all countries is provided, which determines the main opportunities in these geographies
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which predict the competitive outlook of the Europe IVD market
Europe IVD Market Key Segments:
By Product Type
- Reagents
- Instruments
- Software and Services
By Techniques
- Immunodiagnostics
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Chemiluminescence Immunoassays (CLIAS)
- Fluorescence Immunoassays (FIAS)
- Colorimetric Immunoassays (CIS)
- Rapid Tests
- Enzyme-Linked Immunospot Assays (ELISPOT)
- Radioimmunoassay
- Western Blot
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Blood Testing
- Molecular Diagnostics
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Hybridization
- DNA Diagnostics
- Microarrays
- Others
- Tissue Diagnostics
- Clinical Chemistry
- Basic Metabolic Panel
- Liver Panel
- Lipid Profile
- Thyroid Function Panel
- Renal Profile
- Electrolyte Panel
- Specialty Chemicals
- Other IVD Techniques
By Application
- Infectious Diseases
- Cancer
- Cardiac Diseases
- Immune System Disorders
- Nephrological Diseases
- Gastrointestinal Diseases
- Other Indications
By End Users
- Standalone Laboratory
- Hospitals
- Academic and Medical Schools
- Point of Care Testing
- Others
By Country
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
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