Germany IVD Market Overview:
The Germany IVD Market accounted for $3,727 million in 2016, and is estimated to reach at $5,453 million by 2023, growing at a CAGR of 5.5% from 2017 to 2023. In vitro diagnostics (IVD) plays a vital role in early diagnosis and treatment management. The IVD devices are used for the detection of various diseases such as infections, cardiovascular, cancer, and gastrointestinal diseases. In addition, they support for developing and designing personalized medicine.
Increase in prevalence of chronic and infectious diseases and rise in geriatric population in Germany primarily drives the Germany IVD market. In addition, growth in trend toward personalized medicine and technological advancement such as metabolic and protein analysis in the IVD devices have increased the IVD market growth. Furthermore, advert of point of care diagnosis is anticipated to boost the market growth. However, lack of favorable reimbursement policies and stringent government regulations associated to the product approval, manufacturing, and sale of IVD are expected to hamper the market growth. Ongoing R&D activities related to IVD are anticipated to present new opportunities for the market.
Germany IVD Market Segmentation
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 and services is expected to grow at the highest growth rate during the forecast period. The growth of the reagent market is attributed to the wide availability of effective and cost-efficient reagents. On the basis of techniques, the immunodiagnostics accounted for the highest market share in 2016, owing to the rise in demand of personalized medicines. On the basis of application, the infectious disease segment captured the highest market share in 2016, due to the increase in prevalence of chronic and infectious diseases among the population and rise in awareness of preventive healthcare measures. Based on end users, the standalone laboratory segment captured the highest market share in 2016, primarily due to increase in outsourcing of test to the laboratories.
Top Investment Pocket
Increase in Prevalence of Chronic and Infectious Diseases
According to WHO, in 2014 the cancer deaths accounted for approximately 125,500 male deaths and 104,300 female deaths. According to the Federal Statistical Office Wiesbaden, Cardiovascular diseases was the leading cause of death in Germany accounting for approximately 356,616 deaths, followed by cancer that accounted for 226,337 deaths, in 2015.This increase in rate of diseases have increased the demand for IVD market.
Increase in Geriatric Population
Germany geriatric population has increased significantly. They are highly susceptible to various infectious diseases. According to the Federal Statistical Office Germany, the number of people in Germany aged 65 and above increased by approximately 5.2 million in 1990 to 17.1 million in 2014, that is equal to 43% rise. Furthermore, they also stated that out of the total population of Germany, 81.2 million in 2014, of whom 22.2 million were aged 60 and over. This escalation in rate of the geriatric population is expected to raise the demand for diagnosis, thereby driving the IVD market.
Technological Advancements in IVD
The clinical diagnostics have become essential part of healthcare, as the technologies advance. Earlier, molecular testing was performed only by a skilled professional in laboratories and hospitals but the automated technology has enabled testing not only in hospitals but also at home. For instance, in March 2016, F. Hoffmann-La Roche Ltd received approval for CINtec PLUS Cytology test by China Food and Drug Administration (CFDA). CINtec Plus Cytology test provides improved diagnostic and early intervention of pre-cancerous cervical diseases.
Major companies operating in this market adopted product launch as their key development strategy. Companies profiled in this market include, ThermoFisher 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 among others.
- The study provides in-depth analysis of the Germany IVD market along with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis of the industry is provided for the period of 20162023 to enable the stakeholders to capitalize on the prevailing market opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market has been provided.
- Extensive analysis by techniques and application helps understand various trends and prevailing opportunities in the market.
- The key market players are profiled and their strategies are analyzed to predict the competitive outlook of the market.
Germany IVD Market Key Segments:
By Product Type
- Software and Services
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Chemiluminescence Immunoassays (CLIAS)
- Fluorescence Immunoassays (FIAS)
- Colorimetric Immunoassays (CIS)
- Rapid Tests
- Enzyme-Linked Immunospot Assays (ELISPOT)
- Western Blot
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Blood Testing
- Molecular Diagnostics
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Diagnostics
- Tissue Diagnostics
- Clinical Chemistry
- Basic Metabolic Panel
- Liver Panel
- Lipid Profile
- Thyroid Function Panel
- Renal Profile
- Electrolyte Panel
- Specialty Chemicals
- Other IVD Techniques
- Infectious Diseases
- Cardiac Diseases
- Immune System Disorders
- Nephrological Diseases
- Gastrointestinal Diseases
- Other Indications
By End Users
- Standalone Laboratory
- Academic and Medical Schools
- Point of Care Testing