Europe In-Vitro Diagnostics Market Drivers and Forecasts by 2027

The In-vitro diagnostics market in Europe is expected to grow from US$ 15,973.0 million in 2019 to US$ 22,221.8 million by 2027; it is estimated to grow at a CAGR of 4.2% from 2020 to 2027.

The region is witnessing exponential increase in prevalence of infectious diseases. These diseases are prominently caused due to pathogenic microorganisms, such as viruses, bacteria, and parasites. Certain factors, such as poor sanitary conditions, lack of public hygiene, massive air pollution, and lack of safe drinking water, are playing a significant role in the increasing prevalence of infectious diseases. For instance, according to data published by the World Health Organization (WHO) in 2019, approximately 71.0 million people suffered from hepatitis C virus infection across the globe. Moreover, extreme globalization, intense mobility of the population, and persistent urbanization are expected to spread viral infections with greater ease. Since there is a lack of better public health surveillance systems and access to care, a substantial population in developing countries as well as remote regions, is highly prone to viral infections. This, combined with considerable growth in the viral epidemics, is projected to offer a high demand the in-vitro diagnostics (IVD) during the forecast period

The coronavirus pandemic has offered unprecedented growth opportunities and challenges for the European region's in-vitro diagnostic market. The in-vitro diagnostics market has experienced profitable growth due to the raised awareness and increased demand for in-vitro diagnostics tests. The IVD product manufacturers primarily supported the growth of the market. The manufacturers were at the frontline and have invested in the expertise, production, distribution of the IVD products. On the other hand, there are several regulatory challenges concerning IVD. The regulatory bodies are involved in the development of new in vitro Diagnostic Regulation (IVDR). It is expected that the IVDR will be fully implemented from May 26, 2022. According to the new regulations, manufacturers will have to re-certify all tests on time and the infrastructure facilities. In contrast, there have been significant installations of PCR and qPCR in the laboratories and hospitals to improve the capacity of COVID-19 tests. Countries such as Italy, Spain, and the UK have faced a significant number of patients. Therefore, these countries have significantly contributed to the growth of the in-vitro diagnostics market

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the In-vitro diagnostics market. The Europe In-vitro diagnostics market is expected to grow at a good CAGR during the forecast period.

Europe In-Vitro Diagnostics Market Segmentation          

By Product and Services

• Instruments
• Reagents & Kits
• Software & Services

By Technology

• Immunoassay/ Immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Microbiology
• Blood Glucose Self-Monitoring
• Coagulation & Hemostasis
• Hematology
• Urinalysis
• Others

By Application

• Infectious Diseases
• Diabetes
• Oncology
• Cardiology
• Autoimmune Diseases
• Nephrology
• Others

By End User

• Hospitals
• Laboratories
• Homecare
• Others

By Country

• Europe

  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe

Companies Mentioned

• F. HOFFMANN-LA ROCHE LTD.
• DANAHER
• ABBOTT
• SIEMENS AG
• SYSMEX CORPORATION
• THERMO FISHER SCIENTIFIC, INC.
• BD
• BIOMERIEUX SA
• BIO-RAD LABORATORIES, INC.
• QIAGEN

Europe In-Vitro Diagnostics Report Scope