- Toll Free: +1-800-792-5285
- (UK): +44-845-528-1300
- Int'l: +1-503-894-6022
- Help@alliedmarketresearch.com
Cart
|
LI_174352
|
Pages: 180
|
Sep 2017 | 1484 Views
|
|
|
|
Author's :
Abha Thakur
|
Tables: 69
|
Charts: 54
|
Formats*: |
|
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
Get more information on this report : Request Sample Pages
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
Get more information on this report : Request Sample Pages
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
Get more information on this report : Request Sample Pages
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 demand for in vitro diagnostic is on an increase with technological advancements in the diagnostic techniques and awareness about the healthcare industries. The in vitro technology has wide applications, such as diagnosis of infectious diseases, diabetes, oncology/cancer, cardiology diseases, autoimmune diseases, nephrology, drug testing, and HIV/AIDS. Rise in awareness amongst public about healthcare, cost-effective diagnostic solutions, and increase in prevalence of chronic and infectious diseases enhance the growth of the Europe in vitro diagnostics market. The use of automated instruments, point-of-care diagnosis, and increased government expenditure on healthcare in Europe fuel the market. Stringent regulations, policies, and unclear reimbursement rules restrain the market.
The report provides micro level analysis of the factors affecting the market, key market trends, and industry drives and challenges for the better understanding of the market structure. Moreover, assessment of the top investment pockets and winning strategies help channelize their investments in the right directions to garner the market growth.
Enterprise
License/PDF
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high level data integrity, accurate analysis and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
